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16969788
Business 1.1
Description
1.1 Meeting Customer needs - The Market - Market Research - Market Positioning
No tags specified
business
customer needs
business studies
a level
Mind Map by
Lucy-Jayne Murphy
, updated more than 1 year ago
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Created by
Lucy-Jayne Murphy
over 5 years ago
213
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Resource summary
Business 1.1
1.1 The Market
Competition
Effects of Competition
Business
Loss of customers
Constant innovation
Decrease price = less profit
Bigger businesses = kill off smaller ones = market leader
Better products
Customer
More choice / variety
Lower prices
Better quality
Negotiate better deals
Direct / Indirect
Direct
Produce similar products that appear to the same group of consumers
Indirect
Make or sell products that are slightly different, but target the same group of customers and serve the same need
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