Market mapping Flashcards
1
Q
Use
A
Tool to analyse competition in a specific market
2
Q
How many variables
A
2 - normally price and quality
3
Q
Benefits
A
Can find gap
Develop product
Low competition
High sales
4
Q
Drawbacks
A
Overcrowded/saturated
Impossible to make profit
Requires market research
Only two variables
Gaps don’t = success
Quantitative data
