Business: Section 2 (Products)

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  • Products
    • Market Driven
      • Market research to find out what people want.
      • Generally do better
    • Product-driven
      • Design a new product then try to sell it.
      • Generally do worse
    • Benefits of being a small business
      • Can alter products a lot easier (Not mass produced)
      • Allows bespoke products (Products made to customers own specification)
      • Customers opinion can be considered more.
      • Gaps left in the market as larger companies cater to mass markets.
    • New Business cost a lot of money
      • Less money for research and development and market research
      • No money coming in from sales yet.
      • Products that need a lot of expensive equiptment arnt realisitic for new businesses


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