Adding value

Depends on benefits offered compared with price. More benefits something offers in relation to price (better value). Doesn't need to be cheap in relation to benefits it provides. To be competitive firm must at least match the value of the competitors (better value and win over customers)

Product orientation

If a business is product-led it focuses more on what it can produce/ hopes it will fit the customers requirements, this is risky as it may make a irrelevant product. However it can work if customer has a limited choice than if lucky will produce product that is wanted.

Market Orientation

If a business is market-led it bases it's decisions on the customer needs. It would constantly monitor its 'environment' see what customers want, what competitors offer and changes in current market. This would ensure  that the product/ service matches the customer's needs.
The benefit of this is customer satisfaction and its directly meeting needs and is not risky.

What impact does a large market share have on businesses and their competitors?

By having a large market share the firm, it would mean they are the market leader therefore having the most money and control which would benefit them greatly. Their volume and value of sales are higher than any competitor. Competitors would have to follow their paths,

What is the difference between a Geographical and non-geographical market?

Geographical is where you can purchase fresh.fruit or vegetables for example in a market or a high street. Firms wishing to sell these products can take a stall in market and expect buyers. It brings buyers and sellers together.

Non-geographical markets allows increase in range of products bought and sold without buyers and sellers meeting, via internet, phone or credit card. 

Stop high street dying

Mary Portas a retail expert suggest to change the perception of shopping from solely to do with shopping to  a multi-functional social figure, by bringing in 'new magnets' for example creches, gym and churches on the high street. By having 'town teams' more than just the council but giving voice to communities.

Eurozone is heading for a recession in 2012

Analysers have predicted the economies of 17 countries in the eurozone to shrink in the 1st 2 quarters of 2012. It predicted that there will just a growth of 0.1% for the whole year and there are warnings that unemployment will fall. These findings are backed up by economic data from Markit.