Benefit=market Maps Flashcards
(7 cards)
1
Q
1
A
Market maps help businesses identify gaps in the market
2
Q
2
A
Once identified businesses can conduct R+D
3
Q
3
A
And design a product that marches characteristics of
4
Q
4
A
Product is likely to be unique
5
Q
5
A
Lack of substitutes means product will be processed inelastic
6
Q
6
A
Business can increase prices without significant and not experience significant fall in demand
7
Q
7
A
Increased sales revenue and gross profit
