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Business Studies Assignment

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Assignment answering the following questions: "Evaluate at least THREE methods of conducting market research and state your chosen method", "Establishing a new or purchasing an existing business: Evaluate both options & list THREE advantages/disadvantages & state your chosen option", "Appropriate structure: Evaluate at least THREE options & state your chosen option", "Arranging finance: Evaluate at least THREE options & state your chosen option", "Location: Evaluate at least TWO options & state your chosen option", "Evaluate at least TWO methods of collecting information about the demographics of your area & state your chosen method", "Evaluate at least TWO ways you could gain a competitive advantage over you competitors", "State your chosen target market (s) & give at least TWO reasons for your choice."

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Business Studies Assignment
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1) Product demand – Identify whether there is a need for the product & whether there is an unmet demand, which requires the sale of the particular product. This can be achieved by exploring the market to see whether the product is available or not. 2) Competition – Find whether there is competition for the product & whether there is not enough of the product being provided. Competition makes for a challenge but it often suggests that the product is common & purchased regularly. 3) Surveys – You can survey people to ask for their opinions on what products they like & prefer to buy. Surveys can be in person or via the telephone. The surveyor normally asks a number ...
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