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unit 2
competitive environment
Market size
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chet singh
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Cards (3)
What is Market size?
essentially the
number
of
customers
and
sellers
in a particular
market
What might businesses who enter niche markets struggle support?
a
high
volume of
goods
due to
limited
demand as the
market
size is
small
What will happen with businesses entering large markets?
face more
competition
from established
businesses
,
higher
costs of
promotion
, and challenges in
deciding
their
pricing
strategy