One of the keys to business success is to anticipate what the market will want or need . Since it is not possible for an entrepreneur to see into the future, there is one best way. This best way will help the entrepreneur to understand the market and produce goods or provide services accordingly.
(a) Identify the concept discussed in the above lines.
(b) Explain any three ways in which an entrepreneur can perform the activities related to the concept identified.

Dear student, 
a) The concept that is described is trend spotting. 
b) The following are the three ways in which trend spotting can be done:
  • Regularly reading industry publications, business newspapers, etc. 
  • Getting into communication with customers through social media
  • Observing the target customers

  • 3
Market Research and analysis
  • -1
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