-to be able to change & meet the consumers wants and needs
1 of 10
Why are business ideas generated?
-changes in tech, -changes in consumer tastes, --outdated goods/ services
2 of 10
Give 2 examples of how changes in tech have made it easier for a business to appeal to consumers:
1. social media- communicate w/ customers and free advertising 2. online shopping- not everyone wants to go out to shop, can buy from comfort of own home, can order from overseas stores
3 of 10
How has tech generated new business ideas?
-more used, -popular, -smart tech, -online markets make it easy to set up a business and quickly start selling, -affordable for start up businesses
4 of 10
Give an example of how consumers tastes have effected the market and caused businesses to change:
1. health conscious- rise in gym chains, needs for personal trainers & fitness related goods/ services
5 of 10
Why do outdated products need to be replaced with new ones?
-better meet the needs of customers
6 of 10
Give an example of a new product that has replaced an old to fit consumer needs?
-electric cars because they're less damaging to the environment
7 of 10
How do dynamic businesses respond to consumer wants?
-by adapting to meet the customers needs
8 of 10
3 reasons why new business ideas come about are:
-changes in tech, consumer tastes and outdated products in need of adapting
9 of 10
what way is a business idea generated?
-an adaptation of a good/ service that's already on the market
10 of 10
Other cards in this set
Card 2
Front
Why are business ideas generated?
Back
-changes in tech, -changes in consumer tastes, --outdated goods/ services
Card 3
Front
Give 2 examples of how changes in tech have made it easier for a business to appeal to consumers:
Back
Card 4
Front
How has tech generated new business ideas?
Back
Card 5
Front
Give an example of how consumers tastes have effected the market and caused businesses to change:
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