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The success or failure of a venture is dependent upon the ability of the entrepreneur to "identify emerging attractive markets and to seize on unmet, unserved customer needs."
Different Growth Stages in Venture Management
There are different stages of venture growth, which requires different approaches to management of the venture. The following are four stages with the accompanying factors and elements applicable to that stage of growth as described by Philip Kotler in his Marketing Management, 12th edition book:
Start Up: During this stage the product, market niche and business concept is defined...
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