1. What is a disadvantage of a Niche Market?
- They cater for the needs of specific individuals
- Very small and unable to support competing firms
- A large sector of the market and firms challenge them
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2. Which theory involves Scientific Management?
3. Technological development such as supermarkets offering click and collect in London Tube Stations is a form of Market Growth, but which form?
4. What are Dynamic Markets?
- A type of business plan that helps a business to work out the social changes
- A very small market
- Markets that are likely to change, they do not remain the same over time
- A new idea for a business
5. What must a business do to survive a Dynamic Market?
- Make more profit
- Sell more of their product in order to maintain a profit
- Be able to adapt to change
- Have a brand name
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