Spotting a business opportunity

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Lesson 1 

Basic Customer Needs: 

1) Convenience 

2) Range 

3)Value 

4)Quality 

A firm that identifies and meets customer needs is more llikely to make sales than a business that does not. 

Lesson 2

Market Research 

Demand 

The more a bsuiness knows about demand the better they can cater the product to fulfil demand and spot market opportunities.  

Competition 

Researching competition helps to understand the market. Looking into competition also helps a business with pricing. 

Target Market 

Knowing your target market is useful to for understanding how thoses customer needs asre changing and what demand is like for the target market. 

Market research into the target market helps to identify customer needs and wants to produce a high quality product.

Comments

MikkeyQ4

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Wow! It looks perfect! Thank you! And what about the work space? How do I need to organize it? And what are the main requirements for the office space?