A Business Opportunity (Grade 10 NSC Matric Business Studies): Flashcards
📚Flashcards
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10 cards from this deck
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Practise the cards
10 cards from this deck
Business opportunity
Business opportunity
Idea to start business & earn money
Gaps in the market
Gaps in the market
Areas where customer needs aren't being met yet
Research instruments
Research instruments
Tools to collect info: questionnaires, surveys, interviews
Market research
Market research
Collecting info to understand target markets
SWOT analysis
SWOT analysis
Strengths, Weaknesses, Opportunities, Threats planning tool
Target market
Target market
Specific group of customers you plan to serve
Why research is critical
Why research is critical
To avoid creating products nobody wants or needs
Creating desire
Creating desire
Use advertising & marketing to make customers want product
Foundation of business success
Foundation of business success
Understanding & meeting target market's needs/desires
Key to successful entrepreneurship
Key to successful entrepreneurship
Spotting market gaps before competitors do