Marketing in the Informal Sector (Grade 11 NSC Matric Business Studies): Flashcards
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Informal sector definition
Informal sector definition
Unregistered businesses: street vendors, spaza shops, traders
Alternative name for informal sector
Alternative name for informal sector
Second economy
Main payment method in informal sector
Main payment method in informal sector
Cash transactions
Barriers to entry in informal sector
Barriers to entry in informal sector
Low - requires little money or paperwork
Informal sector as training ground
Informal sector as training ground
Provides hands-on business & entrepreneurship experience
Direct distribution meaning
Direct distribution meaning
Products go from seller to customer directly, no intermediaries
Key benefit of direct distribution
Key benefit of direct distribution
Complete control & better pricing without middlemen
Indirect distribution example in informal sector
Indirect distribution example in informal sector
Farmers deliver produce to spaza shops
Top marketing tools for informal businesses
Top marketing tools for informal businesses
Word of mouth & personal selling
Branding: formal vs informal sector
Branding: formal vs informal sector
Formal uses logos/trademarks; informal has no formal branding