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7 Cards in this Set
- Front
- Back
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Define Unique Selling Point |
The unique thing about the product that makes consumers. This can be branding, packaging or a feature of the product |
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What an entrepreneur? |
A calculated risk-taker who sets up a business in return for financial gain |
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What is profit? |
The difference between the amount recieved for selling products and services, and the cost of making providing them. |
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Define 'Gap in the Market' |
A gap in the market is where there is a need or want for a product or service that is missing. |
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What is market mapping? |
Identifying business opportunities thst aren't currently pursued by comparing similar products |
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What is a need? |
A basic human requirment, e.g. we need to eat and drink |
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What is a want? |
A want is a desire for a partcular product, e.g. we need to drink, but we may want Coca-Cola. |
