What is information utility and how does it relate to marketing?
Lets start with utility, its how businesses add value. One way they can add value is by giving customers information about their products. More information can increase a products value. Ex. if I find out that a car gets over 50 mpg that makes it more valuable to me. Information can be disseminated to customers in many ways including product manuals, sales people, and advertising.
What is the most important trait of an entrepreneur?
There are many important traits required to be successful as an entrepreneur. These include good communication and interpersonal and organizational skills. If you look at what sets successful entrepreneurs apart it often comes down to problem solving. Creativity is another way to look at it. Being able to come up with creative solutions to the problems they encounter.
Why are some businesses more successful than others?
Success in business often comes down to planning and executing. A well thought out strategy is critical to success but will only work if it is well executed.