1.2.4 Flashcards
1
Q
Understanding _____________ is important
A
Strengths and weaknesses of competitors
2
Q
Competitors
A
Any business that sells same or similar products to you (or services)
3
Q
Business may want to know __________ of the competitors
A
Usp
Price
Quality
Convenience
Location
Product range
Customer service
4
Q
Impact of competion on decision making
A
Have to offer good quality and the right prices focus on differentiating it’s goods and services
5
Q
Businesses can gain competitive advantage by
A
Buying cheaper raw materials to make cost savings
Promotions
Excellent quality & customer service
6
Q
A
