spotting business opportunity

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  • Created by: blloob1
  • Created on: 22-03-14 20:56
What is market research
Designed to give information about a likely target market
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What is primary ressearch
The collection of primary data that no one els has collected
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What is secondary research
The collection of secondary data information that alredy exists externaly from the bussiness
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What Quantitative research
Data that can be expressed as numbers and can be statisticly analysed
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What is ment by the term types of customer
Customers with different buying habbits
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What is market mapping
A range of possible positions for two features of a product such as high price and high quality
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What is a market gap
when no bussiness is currently serving the needs of customers for a particular product or service
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What dose the term SWOT mean
Strengths, weaknesses, orpertunity, threats
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What is added value
The increased worth a bussiness creats for a product
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What is invention
The descovery of a new process or potential product
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What is innovation
the process of transfering inventions into products
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What is a patent
The right of ownership of an invention or process when registered with the goverment
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what are the benifits of a franchise
Staff training and an alredy tried and tested product
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what are the disadvanteges of a francise
The franchisor must be consulted before the business is sold
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Other cards in this set

Card 2

Front

What is primary ressearch

Back

The collection of primary data that no one els has collected

Card 3

Front

What is secondary research

Back

Preview of the front of card 3

Card 4

Front

What Quantitative research

Back

Preview of the front of card 4

Card 5

Front

What is ment by the term types of customer

Back

Preview of the front of card 5
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