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Business

GCSE · AQA

QuestionsFlashcards

The Purpose & Nature of Businesses
Business Ownership
Setting Business Aims & Objectives
Stakeholders
Business Location
Business Planning
Expanding a Business
- Business Expansion
  11
- Economies & Diseconomies of Scale
  12

Technology
Ethical & Environmental Considerations
The Economic Climate
Globalisation
- How UK Businesses Compete Internationally
  7
- Exchange Rates
  5
Legislation
Competitive Environment
- Operating in Competitive Markets
  6
- Risks & Uncertainty
  9

Production Processes
- Producing Goods & Services
  5
- Efficiency in Production
  6
The Role of Procurement
The Concept of Quality
Good Customer Service
- Customer Service in Business
  6
- ICT & Customer Service
  6

Organisational Structures
- Key Principles of Organisational Structures
  11
- Management & Communication in Different Structures
  9
Recruitment & Selection of Employees
Motivating Employees
Training
- The Importance of Training
  6
- Methods of Training
  8

The Exam Papers
- Paper 1: Influences of Operations & HRM on Business Activity
  7
- Paper 2: Influences of Marketing & Finance on Business Activity
  5
Business Exam Skills
Structuring Your Responses

The Purpose of Market Research Flashcards

All 6 cards in this deck

What is market research?: The process of collecting information about the market or what customers want, to help a business be more successful and spot gaps in the market.
What three things does a business collect information about when it carries out market research?: Demand, competition and the target market.
What is a gap in the market?: An area where there is demand for a product or service that is not currently being met.
What is a target market?: A group of customers which a business aims its product or service at.
Give two benefits of carrying out market research before starting a business.: Identify market opportunities / gaps in the market; identify customers' needs.
Also accepted: identify competitor actions, reduce risk by testing ideas, produce a business plan, predict demand/sales.
True or false? Once a business has carried out market research, it does not need to do it again.: False. Customer needs change over time, so research must be kept up to date.