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1.1.1 The market - Coggle Diagram
1.1.1 The market
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Dynamic markets
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online retailing
trends are constantly changing and developing, expanding and offerieng customers new products and new ways to shop
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disadvantages
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competitors can be aware of owners business model, prices, acitivity
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market size
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can be measured in volume of sales and value (quantity of products sold and total amount spent by customers
businesses can calculate their market share with information about the market size and they an look at other markets to see if they are worth enterin
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Niche markets
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characteristisc
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can be profitable, prices are often higher as consumers int he niche are willing ot pay for the right product
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