business revision 1.1


Business

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


Market Mapping


Added Value



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