| description abstract | The characteristics required to introduce a new product or service to the market include a superior product or service, a receptive market, a competitive advantage, and the potential for profit. To be successful, a sound business plan must be established, including goals and objectives, a market analysis, a market strategy, and manufacturing and financial plans. Entrepreneurs who may want to invest in a new product or service look for qualities which insure success, such as compatible personalities, management experienced with the product or service, product advantages, potential for market growth, and a high return on investment and liquidity. A product or service incorporating these elements should be successful. | |
