Flashcards
1.1 - Spotting a Business Opportunity Keywords
Cards in this deck (26)
- 1SupplierThe source of products/services to another company
- 2CustomerSomeone who buys a product/service from a business
- 3ConsumerSomeone who uses the product/service
- 4MarketsA platform where buyers and sellers (demand and supply) interact
- 5Customer NeedsThe wants and needs from the products/services of the customers
- 6Market ResearchResearch into the market i.e. customers, competitors etc.
- 7Primary ResearchResearch that you have done yourself (first hand)
- 8SurveyA form of research that gathers data on impressions or opinions by polling a section of the population
- 9RespondentsPeople who respond to and answer surveys or other forms of research
- 10QuestionnaireSame as a survey -they're used to gather specific information about a product or topic
- 11Focus GroupA small gathering discussing thoughts and opinions on a certain product or topic
- 12Secondary ResearchResearch that someone else has done
- 13Qualitative DataData that contains descriptions or opinions
- 14Quantitative DataNumerical data
- 15Market SegmentAn identifiable group of individuals sharing one or more characteristics
- 16Price SensitiveThe demand for a product that varies a lot in response to price fluctuations
- 17Market MapA grid which measures two aspects of the brand within the market
- 18Gap in the MarketA product that hasn't been created yet
- 19Product RangeThe range or products a company sells
- 20BrandA unique design or logo that consumers can easily identify with, as it differentiates from its competitors
- 21Brand ImageThe consumers' perception of the quality of a product in association with the brand
- 22Added ValueAn amount added to the value of a product which is equal to the difference between its cost and the selling price
- 23USPUnique Selling Point
- 24FranchiseA recognised brand/chain of shops or the right to sell under that trademark
- 25FranchiseeSomeone who purchases a franchise
- 26FranchisorThe owner of the parent company which sells the rights to sell their branded products/processes
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- AS level Business Flashcards on 1.1 - Spotting a Business Opportunity Keywords, created by M Bathard on 16/04/2016.
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- M Bathard
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