New Activity
Play Fill in the Blanks Game
There are may different ways that a business's survival can be ____________________ . The first way is not so much about what the business is doing , but what its ____________________ are doing .

If someone brings out a newer , better ____________________ of a product , customers are more likely to go to them instead . This is especially important in business that involve ____________________ ____________________ ( IT ) . One such example is in the area of personal stereos , with the replacement of records and cassettes first by CDs and now by ____________________ and phones . A business that does not ____________________ and start making or stocking these new products is not likely to succeed .

As well as technological differences , a competitor might also change the demand for its products by running an aggressive ____________________ campaign to make people want to ____________________ its products . This can involve the use of ____________________ people , such as Labron James advertising Nike , Dunkin Donuts and Samsung .

Having well known people ____________________ a brand helps to add ____________________ to the product . People are willing to pay extra to be associated with the product's ____________________ . This happens with a range of products , particularly those that are luxury items . It is the difference between buying a pair of jeans from a ____________________ store for around $15 and buying those made by a designer label such as True Religion for $160 . The material may be similar , but its about promoting a ____________________ and image .

Sales of luxury goods are often affected by how the ____________________ is doing . If interest rates and unemployment are ____________________ , people are more likely to have ____________________ money to spend on luxuries . They need to focus spending their money on housing and higher ____________________ rates on loans , for example .

A business's survival is also affected by intervention by the ____________________ . because if changes are made that cost the business more money , this will reduce the ____________________ made . Examples of changes in legislation could include more safety measures or limits on the number of ____________________ that an employee is allowed to work per week .

The organization itself can make a difference to its survival chances by making sure that the business is as well run as possible and that it maintains its image and ____________________ . The business should also watch world ____________________ and monitor ____________________ in order to plan , adapt and survive .