Lucy was fed up with having her smartphone stolen; four times in the last year! She used her design background to develop ‘NoPhoneTheft’, a lightweight but strong case which secured the phone within it. The design made it very difficult for anyone to steal a smartphone.
Lucy hoped that her invention would be of interest to mobile phone manufacturers. There were few similar products like this on the market.
Which ONE of the following is the most important for Lucy in spotting a new business opportunity?
Select ONE answer:
- Being able to produce his product cheaply.
- Being a keen cyclist.
- Having a large amount of personal savings.
- Knowing who his possible competitors were.
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 4
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