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1.1.1 Dynamic nature of business GCSE Business Edexcel Flashcards | StudBud
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1.1.1 Dynamic nature of business GCSE Business Edexcel
1.1.1 Dynamic nature of business GCSE Business Edexcel
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1.1.1 Dynamic nature of business GCSE Business Edexcel
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
How has social media impacted consumer trends?
Consumers seek authentic and transparent communication from businesses
Businesses have abandoned social media marketing strategies
Consumers now prefer impersonal communication from businesses
Social media has no effect on consumer trends
2
The popularity of plant-based diets has not influenced the success of companies like Beyond Meat and Impossible Foods.
False
True
3
What change in consumer behaviour has influenced the growth of digital entertainment businesses?
Preference for physical media
Shift towards traditional media consumption
Decrease in social media usage
Adoption of online streaming services
4
Which strategy can a business adopt to cater to a different type of consumer or target market?
Eliminating the existing product or service
Keeping the current product or service the same
Changing an existing product or service
Introducing a completely new product or service
5
What factor has spurred the creation of businesses catering to healthier lifestyles?
Growing interest in health and wellness
Decline in consumer interest in health
Rise in traditional meat consumption
Decrease in plant-based diets
6
Technological advancements rarely influence consumer behavior.
True
False
7
How can new business ideas be generated?
By making products and services less efficient and convenient
By building upon existing ones or introducing entirely fresh concepts
Only through entirely fresh concepts
Solely by building upon existing ones
8
As products & services become obsolete, entrepreneurs identify opportunities to introduce fresh & improved alternatives.
False
True
9
The rise of online streaming services signals a movement away from traditional media consumption.
True
False
10
What is a significant driver for the creation of new business ideas?
Changes in consumer trends
Fluctations in stock markets
Technological advancements
Government regulations
11
The rise of eco-friendly products & businesses has been driven by consumers' increased environmental awareness.
True
False
12
Influencer marketing involves individuals with a weak social media presence promoting products to the target market.
True
False
