1.2.4 Competitive Environment Flashcards
1
Q
USP
A
Unique Selling point. What distinguishes you from a competitor
2
Q
Product Range
A
They different types of products available
3
Q
Customer Service
A
Service offered to a customer by the business. This includes before, during and after the transcation
4
Q
Innovative
A
A new perhaps original product or process
5
Q
Unethical
A
An action or decision that is wrong from a moral standpoint
6
Q
Impact of competition on business
A
Offer good products and a good service
Keep prices down
Bring in new innovative products or services to break away from fierce price competition
