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Business Unit 3 (Building A Business (market research (primary research…

- - - - new data (field)
    - - used data (desk)
  - - - random
      - quota
- - - - free samples
      - advertising
      - social media
      - publicity
      - user testing
  - - - special offers
      - reminder adverts
      - new products
      - customer loyalty schemes
  - - - sales are low, profit is negative or low
    - - sales increase rapidly, profit reaches it's highest point
    - - sales reach their highest point, profit starts to fall
    - - sales fall and profit may become negative
  - - - extra advertising
      - different product range
      - special promotions
      - adding additional value
      - new features
- - - - excellent products with high growth and market share; but need constant advertising
    - - big investment to develop and advertise to start with but it has big sales potential for the future
  - - - music
      - plane flights
      - media
      - space trips
      - train rides
      - hot air balloon rides
      - banks
      - healthcare
      - games
- - - - lower price at the beginning and grows over time
    - - charged by brand
    - - charging as high as possible at the beginning
    - - different prices for the same product