Edexcel Quazi Nafiul Islam
Which one is the most profitable?
Is it growing?
How big is it?
How is it different?
Topic 3: Lesson 3
Positioning the business Idea
Identify and analyze the
for a certain product2.
of the same product3.
Learn how to use
Understand how suppliers
of a product or service through market mapping6.
Understand the term
Before a business starts selling its products, it must consider some key elements.
It must be able to determine
which market segment is best
for its product, i.e. in whichsegment will its product make the most profit?
Furthermore, as discussed before, the business will want to enter a
. This willallow the business to expand along with the market and
experience the benefits of growth
,such as economies of scale and more prestige for owners etc.
The competition, basically identifying the
of rivals. How they are
to the firm’s products. What
, might they have over the firm? These mayinclude,
better marketing strategies
of product etc.