Whilst at Art College, Lucy made Christmas cards for friends and relatives. She wants to start a full-time business but needs to decide between setting up as a sole trader or buying into a franchise. The market for Christmas cards is very competitive but Lucy produces a card that is designed and made to the customer’s exact requirements.
Which ONE of the following is the most likely to give Lucy a competitive advantage?
Select ONE answer:
- Developing a strong brand image
- Having unlimited liability
- Operating in a competitive market
- Identifying different market segments
Show the workings to arrive at your answer, and explain and justify your reasons:
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This multiple-choice question is suitable for Business Studies KS4 & KS3 classes
The answer is 1
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