Your career as a teacher these days depends on how well you are able to help your students thrive. Nothing else is a better litmus test than the actual success of your students. If they manage to get great corporate jobs, then that means success for you. If they start their own businesses and succeed, so much the better. You can take pride in their accomplishments. In order to succeed today, you must ensure that your students leave business school understanding the difference between product and risk.
Many students get so interested in developing their products that they forget to link every aspect of the product to the purchase potential of the customer. It must fall within the right price range and it must be something that people desperately want. If they don’t want the item, then it is only a risk. Risk is necessary in business, but it is better if marketers do their research first so that the products they develop are based on sound research into what people want to buy.
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