..........- --->,-------------------------------------
Enterprise is: M commerce is: An Entrepreneur
!.§.:
A person spotting a business M-commerce. refers to the buying and selling of
Someone who is
opportunity and setting up a business. goods and services online through a mobile willing to take risks
device. It includes any transactions between and put business
businesses carried out online, often through a ideas into action.
A business risk is: mobile app or a website accessible on a table or
Anything that threatens a company's ability to achieve its mobile telephone.
financial goals is considered a business risk. For example:
Bankruptcy, financial loss and lack of customer interest.
Added value is:
A Stakeholder is: Added value is the difference between what a
Someone who is interested in the success --Theme 1 ~I I business spends to produce its goods or
of a business, for example: employees, services, and the price that customers are
1.1 Enterprise and Entrepreneurship
customers, investors and suppliers. prepared to pay. There are five sources of
added value for a small business: convenience,
branding, quality, design and unique selling
The role of a business is: point.
A business aims to meet customer
wants and needs by providing a
product or service
Generating business ideas: E commerce is:
A business reward is: Business ideas can be generated from:
E-commerce, or electronic commerce,
-Identifying a gap in the market. refers to the buying and selling of products
A positive outcome from a successful business.
For example: Profit, business success and -A previous product becoming obsolete. and services using devices connected to an
independence. -Adapting existing products. electronic network such as the internet.
,Market segmentation: A competitive market is: Advantages and Disadvantages
of market maps are:
Market segmentation is a A market with a competitive market is when
there are many producers competing to Disadvantages; is represents a
marketing strategy in which select provide consumers with the goods and very limited picture of customer
groups of consumers are services needed. In a competitive market, decisions, its often time
identified so that certain products no single producer or consumer can dictate consuming and expensive to
the market. collect this type of data and
or product lines can be presented there can be differences
to them in a way that appeals to between customers perceptions
their interests. Ways you can of a product and the actually
quality of it. Advantages; allows
segment a market are by; gender, Theme 1
companies to spot
ethnicity, class, wealth, lifestyle "1.2 spotting business opportunity
opportunities and potenti~I
type,and job type. Benefits of challenges by visually
market segmentation are Stronger organising information about
brand image. Greater potential for Product differentiation is: competitors.
brand loyalty Stronger market The characteristic or characteristics that
make your product or service stand out to
differentiation Better targeted digital your target audience. It's how you
A market map is:
advertising. A drawback to market distinguish what you sell from what your Market mapping is the process of
competitors do. Some ways to differentiate using a graph to plot competitors and
segmentation is cost, it can often be their products to understand
your product are by Price, Packaging,
expegsive. Marketing and product design.
competitor behaviour and spot a gap
in the market
Enterprise is: M commerce is: An Entrepreneur
!.§.:
A person spotting a business M-commerce. refers to the buying and selling of
Someone who is
opportunity and setting up a business. goods and services online through a mobile willing to take risks
device. It includes any transactions between and put business
businesses carried out online, often through a ideas into action.
A business risk is: mobile app or a website accessible on a table or
Anything that threatens a company's ability to achieve its mobile telephone.
financial goals is considered a business risk. For example:
Bankruptcy, financial loss and lack of customer interest.
Added value is:
A Stakeholder is: Added value is the difference between what a
Someone who is interested in the success --Theme 1 ~I I business spends to produce its goods or
of a business, for example: employees, services, and the price that customers are
1.1 Enterprise and Entrepreneurship
customers, investors and suppliers. prepared to pay. There are five sources of
added value for a small business: convenience,
branding, quality, design and unique selling
The role of a business is: point.
A business aims to meet customer
wants and needs by providing a
product or service
Generating business ideas: E commerce is:
A business reward is: Business ideas can be generated from:
E-commerce, or electronic commerce,
-Identifying a gap in the market. refers to the buying and selling of products
A positive outcome from a successful business.
For example: Profit, business success and -A previous product becoming obsolete. and services using devices connected to an
independence. -Adapting existing products. electronic network such as the internet.
,Market segmentation: A competitive market is: Advantages and Disadvantages
of market maps are:
Market segmentation is a A market with a competitive market is when
there are many producers competing to Disadvantages; is represents a
marketing strategy in which select provide consumers with the goods and very limited picture of customer
groups of consumers are services needed. In a competitive market, decisions, its often time
identified so that certain products no single producer or consumer can dictate consuming and expensive to
the market. collect this type of data and
or product lines can be presented there can be differences
to them in a way that appeals to between customers perceptions
their interests. Ways you can of a product and the actually
quality of it. Advantages; allows
segment a market are by; gender, Theme 1
companies to spot
ethnicity, class, wealth, lifestyle "1.2 spotting business opportunity
opportunities and potenti~I
type,and job type. Benefits of challenges by visually
market segmentation are Stronger organising information about
brand image. Greater potential for Product differentiation is: competitors.
brand loyalty Stronger market The characteristic or characteristics that
make your product or service stand out to
differentiation Better targeted digital your target audience. It's how you
A market map is:
advertising. A drawback to market distinguish what you sell from what your Market mapping is the process of
competitors do. Some ways to differentiate using a graph to plot competitors and
segmentation is cost, it can often be their products to understand
your product are by Price, Packaging,
expegsive. Marketing and product design.
competitor behaviour and spot a gap
in the market
