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The Market - Coggle Diagram
The Market
Keywords
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Mass - directed at a larger portion of customers.
Niche - directed at a specific portion of customers and meeting customer needs.
Product oriented - creating a product then finding a market for it
market oriented- creating a product based on the needs of the market.
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Market Mapping
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Gaps can outline areas you can base the products (e.g Low price, high quality)
However, they may be unreliable since it is unrealistic to make a high quality product and sell for a low price
Budgeted
Variance
Favourable - the budgeted sales are lower than actual revenue
adverse - the actual revenue is lower than the budgeted sales
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