Cheaper way to expand the franchisees pay some costs. Widen brand awareness as logo is seen in more places

Process of collecting, recording and analysing data about customers, competitors and market for a product

A firm needs to find out how many people would want to buy the product it is planning to offer for sale. It can identify customer needs in a competitive market.

customers OR people who have similar characteristics to the target market who give their opinions on a product / service.

Less competition, Clear focus/easier to target customers, Builds up specialist skills and knowledge, Can charge a higher price, Customers tend to be more loyal

survival, make a profit, increase market share, provide a service to the community, be socially/ethically/environmentally responsible

Economic crisis, Factory/shop/office closure, Merger or takeover, Need to reduce costs, Changes in management/strategy, Automation or replaced by machinery

Sponsorship can target the intended market attracting more customers. Newspaper advertising can be seen by a lot of people

Customers like something new therefore they are more likely to try the product. Damage customer loyalty as existing customers do not like the new logo created

production cost, need to cover at least fixed costs or face a loss, Level of demand if it is a popular product might be able to charge a higher price

skilled workers likely to work more efficiently and likely to make fewer mistakes [

Age, Socioeconomic/income groups, Tastes/interests, Geographic, Culture/religious background