Asked by Alleah Al-Amery on Feb 18, 2024
Verified
Crowdfunding entrepreneurs should set a funding target that is ______.
A) aggressive to signal confidence in the product or service for potential investors.
B) low and easy to outperform in order to generate buzz around the product or service.
C) realistic enough to attract backers but high enough to cover costs.
D) as high as possible to generate as much initial cash as possible to infuse into the business.
A) aggressive to signal confidence in the product or service for potential investors.
B) low and easy to outperform in order to generate buzz around the product or service.
C) realistic enough to attract backers but high enough to cover costs.
D) as high as possible to generate as much initial cash as possible to infuse into the business.
Crowdfunding
The process of raising funding for a new venture from a large audience (the “crowd”), typically through the Internet.
- Understanding the importance of setting a funding target that reflects confidence in the product or service.
- Recognizing the potential benefits of setting a low funding target to generate buzz and excitement.
- Understanding the need for a funding target that is realistic enough to attract backers and cover costs.
Verified Answer
CA
crystal aquino
Feb 18, 2024
Final Answer :
C
Explanation :
A realistic funding target is important to attract backers and cover costs, but it should not be too low as to hinder the success of the project.
Learning Objectives
- Understanding the importance of setting a funding target that reflects confidence in the product or service.
- Recognizing the potential benefits of setting a low funding target to generate buzz and excitement.
- Understanding the need for a funding target that is realistic enough to attract backers and cover costs.