starting an entraprise Flashcards
(16 cards)
what is a buisness
where people provide a servise and or goods fpr a customer
what do people take on if they start a buisness
risks
these people are called what
entrepreneurs
why are buisnesses set up
to make a profit
some times there aims are to
provide a servise to the comunity
when aims are to help the community theyare called
social enterprise
a sussesful buisness will understand its
market and custmers
a market is situwaed
where a buyer and seller come together to agree on a sale
supply and demarnd is what
work together to to decide on a price of the product
to succeed a buisness will need ton have a
unique selling point (USP)
how a buisness will complete. and how many compeiters will there be
many
to find out about the competitors that will make
competitors profile
buisness know how to to compete by adding
value and that customers will pay for
they can add value by
better servise convenience provide different ways that people can pay be efficient provide special design feachers
gap in the market what is it
this is a product that has not been created
how is the gap in the market achieved
by advertising
