business revision 1.1
A business is a trade.A business is a organation which produces goods and services for their customers. New businesses are set up by entrepreneurs.
Product & Services
Businesses aim at a specific group of people. Their target audiance.
To find out what the customers needs are the business has to do specific research...
Primary Data = This is seen as first hand research when you yourself are getting the information, they are specific to your business.
e.g. questionnaires, surveys, observing
Secondary Data = This is second hand data. One that has been collect by someone else, this is not specific for your business but may relate.
e.g. internet, government statistics, yellow pages