Business: Section 2 (Products)
- Created by: Georgia Vyse
- Created on: 24-03-14 11:20
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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
- Market Driven
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