Assessment of Skills and Knowledge(ASK) in Fundamental Marketing Concepts Practice Test

Hannah identified a product opportunity based on her background and experiences. This is an example of:

1. Accidental discovery

2. A popular hobby

3. A technological issue

4. Personal expertise

The correct answer is: Personal expertise

Identifying a product opportunity based on one's background and experiences showcases the importance of personal expertise in the process of market opportunity recognition. Personal expertise encompasses the knowledge and skills that an individual has acquired through education, work experience, and personal interests. In Hannah's case, her unique insights and understanding gained from her background allow her to see potential in the market that others might overlook. This could involve recognizing gaps in the market or understanding customer needs based on her experiences, providing a valuable advantage when developing new product ideas. The other options do not capture this concept as effectively. Accidental discovery suggests a chance finding without intention. A popular hobby implies a general interest that may not be tied to professional expertise. A technological issue, meanwhile, refers to challenges related to technology rather than the personal insights leading to opportunity identification. Thus, personal expertise is the most fitting description of Hannah’s approach to finding a product opportunity.