Nature of Business Assessment (1 Viewer)

[Shazer2]

Currently completing my assessment, and wondering how I can expand on the internal factor of "product". I've so far discussed how a product needs to be relevant to the business niche for it to be successful (to increase demand, sales and profit) and I've defined what a product is and how it's important to business.

However, my paragraph is quite short and needs a bit of expansion, just looking for a few ideas on how to expand it, what else to talk about etc.

 

[Timske]

Here are some I think you can incorporate into your response.
Talk about;
Innovative products
feature and quality of products
appropriate prices of the product

 

[Shazer2]

Thanks Timske, that helped quite a bit.

I moved onto place as an internal factor and I've so far discussed the relevance of the place in relation to the industry of the business and how that helps a business succeed. I need some more points on that, so any help appreciated.

 

[Timske]

Location can greatly affect sales - consumer preferences and also population. Does the the products of the business satisfy the needs of consumers in that area? Is the business easy accessible (located next to a station). Is the business situated close to its supply?

 

[Shazer2]

Thanks Timske, that helped me finish off my assessment. Much appreciated.