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Lesson: competition

Lesson: competition. A market map shows. Where a business is located Where a product is positioned Where the market segments go shopping Which roads customers have to use to get to the business. This could be a market map for restaurants. A. B. C.

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Lesson: competition

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  1. Lesson: competition

  2. A market map shows.... • Where a business is located • Where a product is positioned • Where the market segments go shopping • Which roads customers have to use to get to the business to plan a new business venture while recognizing the influence of competitors

  3. This could be a market map for restaurants A B C to plan a new business venture while recognizing the influence of competitors

  4. This could be a market map for restaurants to plan a new business venture while recognizing the influence of competitors

  5. to plan a new business venture while recognizing the influence of competitors p.20-21 to plan a new business venture while recognizing the influence of competitors

  6. to plan a new business venture while recognizing the influence of competitors Q. Why is each factor important in staying competitive? p.20-21 to plan a new business venture while recognizing the influence of competitors

  7. Brief Encounter You are trying to establish a new business in the male underwear market. The name you have come up with is Brief Encounter. Your product range includes five basic styles. to plan a new business venture while recognizing the influence of competitors

  8. Brief Encounter The product range to plan a new business venture while recognizing the influence of competitors

  9. to plan a new business venture while recognizing the influence of competitors

  10. Your marketing strategy Identify and describe the market segments who might be interested in each style. Think about your competitors [all the other businesses selling products similar to yours] and decide how you will position yourself in this market. Depending on the position you are aiming for you need to make decisions on: • Quality • Selling experience • After-sales service • Price • Brand image Decide on how you will try and establish your brand in the market [logo, catch-phrase, publicity...] to plan a new business venture while recognizing the influence of competitors

  11. Market segmentation Who are the target customers for each product in your range? to plan a new business venture while recognizing the influence of competitors

  12. to plan a new business venture while recognizing the influence of competitors

  13. Competition To stay competitive, a business will aim to match or beat competitors on..... [now describe what these factors mean and why they are important] to plan a new business venture while recognizing the influence of competitors

  14. To be able to describe what a business does Suppliers Competitors £ Your business £ Homework To find at least three competitors to your business Customers to plan a new business venture while recognizing the influence of competitors

  15. to plan a new business venture while recognizing the influence of competitors p.20-21 to plan a new business venture while recognizing the influence of competitors

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