Jason is an artist who wants to turn his art into a small business. He had the great idea to go to other hobby-based businesses in his community and give painting lessons to their clients. First, he went to a local stable and taught its boarders how to paint portraits of their horses. Then, he went to a local dance studio and taught its patrons how to paint their dream dance costumes. Based on the buzz created by his new business, several other local businesses want to hire Jason. What is one area where he may struggle in managing his new business? A. He may get stuck in a market niche. B. He may lack the flexibility to adapt to changing market demands. C. He may have trouble managing all the money he will make from the start. D. He may lack the skills and experience to make good management decisions. E. He may focus too much on management and not enough on his great product ideas.

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Business

22 April, 17:44

Jason is an artist who wants to turn his art into a small business. He had the great idea to go to other hobby-based businesses in his community and give painting lessons to their clients. First, he went to a local stable and taught its boarders how to paint portraits of their horses. Then, he went to a local dance studio and taught its patrons how to paint their dream dance costumes. Based on the buzz created by his new business, several other local businesses want to hire Jason. What is one area where he may struggle in managing his new business? A. He may get stuck in a market niche. B. He may lack the flexibility to adapt to changing market demands. C. He may have trouble managing all the money he will make from the start. D. He may lack the skills and experience to make good management decisions. E. He may focus too much on management and not enough on his great product ideas.

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Answers (1)

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Fatima Bell · Answer 1

A) He may get stuck in a market niche

Explanation:

According to the question, so far all of his clients have come from hobby clubs: first, the stable, and then, the dance studio. He may soon run out of clubs to offer his painting lessons, or run out of hobbysts that are also willing to pay money for painting lessons. Jason should try to diversify his market share. He can offer his lessons online so that anyone, whether they belong to a hobby club or not, can get in touch with him if they are interested in learning how to paint.