business Flashcards
1
Q
what is a product
A
A product is anything that is capable of satisfying customer needs
2
Q
what is a service
A
A service is an act that a business person carries out for you in exchange for money, for example
3
Q
what does obsolete mean
A
Obsolete means a product that is no longer used or out of date
4
Q
what does usp mean
A
one thing that makes your business better than the competition
5
Q
what is e-commerce
A
commercial transactions on the internet.
6
Q
what is a gap in the market
A
This could be an idea that no-one has thought of before – for example Trunki luggage
