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Entrip > Unit 16 (b) > Flashcards

Unit 16 (b) Flashcards

1
Q

What is industry competitiveness

A
  • describe major competitors
    — identify barriers to enter
    -concentration of buyers and suppliers
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2
Q

Conduct?

A

-identify main competitors
(Business hours, distance from you, how long been in business)

  • customer loyalty
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3
Q

What is market potential?

A

= looking at the possibility of the demand for the product

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4
Q

Potential markets?

A

Niche, emerging, segment

Banded Products-potential opportunity

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5
Q

Conduct?

A
  • Talk around get information
  • raw materials needed
  • packaging
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6
Q

What is Sales forecast?

A

Very important
Month by month
Expected levels of sales
Avoid unforeseen problems

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7
Q

How forecast sales?

A

Reality 🆚 predicted calculation

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8
Q

Conduct?

A
  • estimated Profit
  • steady revenue or not
  • growth potential
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9
Q

What is access to market outlets

A
  • Potential customers and marketing costs

- Location of industry

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10
Q

Conduct?

A
  • Fast demand
  • how often buy
  • insurmountable obstacles
  • distribute product
  • workspace
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11
Q

Location of enterprise

A

Region, town, part of town, location relative to streets, type of location

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12
Q

Location and importance

A

You, customers, employees , strategic partners, potential investors

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13
Q

What are the concerns about location?

A

Cost, safety, traffic, facility requirements

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14
Q

Factors to consider when choosing your location

A

Identify your market
Collect data
Think like your competitors do

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15
Q

Knowing your equipment

A
  • How will office structured
  • what is business growth plans
  • appearance
  • facilities
  • parking
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16
Q

Market feasibility report

A 
Introduction
Methodology
Findings
Conclusion
Recommendations
17
Q

What are the methods to get information for feasibility study?

A

Summarize findings (compile report)
Organize findings
Financial predictions
Analyze findings

Entrip (5 decks)

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