Evaluating a business opportunity Evaluating a business opportunity 2.0 / 5 based on 2 ratings ? Economics & Business StudiesThe company, revenue and costsASAll boards Created by: Liah ZusmanCreated on: 08-02-12 15:38 Is there a market for the business idea? Market Size- Profits made by businees, market shares of each business value of sales, no of employees, volume of sales. Potential market growth; large- alot of potential customers small-potential but limited 1 of 3 Positioning the business idea Strengths and weaknesses of existing suppliers- market leader controls suppliers but if new business suppliers may move to them how they differentiate themselves- 2 of 3 Product trial Test marketing of a product to assess likely demand levels- Sales Research-consumers are given an opportunity to try a new product e.g free sample Controlled test marketing- a product is made available in few stores e.g only tesco stores Actual test marketing- a full lunch of a product in restricted area e.g product is sold in usual outlets consideration of how to turn product trial into repeat purchases. 3 of 3
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