A market map is a visual means of showing...

where a product is positioned in the market

Why is added value important to business survival?

AV allows a business to target its customers successfully

A business makes bottles & canned soft drinks. What makes it more competitive against rivals?

the launch of a new range of soft drinks

Which of the following might be sources of added value for a farming business?

Quality of products grown by farmers

Advantages of a franchise include...

Franchisor provides tried and tested products to sell

Disadvantages of becoming a franchisee are...

Franchisee has to pay a fee to the franchisor to set up

Receive training and support from franchisors

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Unit 1.1

15 termsStudBud Administration14 plays

Quiz to practice unit 1.1 for edexcel GCSE 2009

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Questions 15

Answers

1
A part of a market that contains a group of buyers with similar characteristics is called...
A market gap
A market resource
A market segment
A market map
2
A market map is a visual means of showing...
where a product is positioned in the market
where the business is located
market segments
the conclusions of a market survey
3
Why is added value important to business survival?
AV always means a better quality of product
All businesses have to have a unique selling point
AV allows a business to target its customers successfully
A business with neg AV is not likely to make money for costs
4
A manufacturer links toys with a popular prog for 1-4 yr olds. It sells to 5-9 yr olds. This is
Market gaps
Market segments
Market resources
Market maps
5
Chris is setting up a business and looks in Yellow Pages for other similar businesses. This is
Primary
Observation
Secondary
Qualitative
6
A business makes bottles & canned soft drinks. What makes it more competitive against rivals?
the launch of a new range of soft drinks
An increase in profit compared to last year
A rise in the price of its drinks range
the employment of two extra workers
7
Justin is a DJ who travels to parties with a van with kit. Which are suppliers to his business?
A club renting his services
A TV company writing an article
A local petrol garage
The individuals who attend his gigs
8
Which one fo the following is a type of primary research?
Conducting a survey
Consulting local newspapers
Reading market reports
Analysing past sale figures in another business
9
Which of the following might be sources of added value for a farming business?
The receipt of sales of farm products
Quality of products grown by farmers
The wages of farm workers
The profit earned by the farmer
10
Advantages of a franchise include...
Franchisor provides tried and tested products to sell
Franchisees do nto need to have so many business skills
Franchisor pays the franchisee to set up in business
Franchisor pays the taxes of the business
11
What is most likely to give a researcher qualitative data?
The meeting of a focus group
Researching names of businesses in an area
Researching products made by competitors through internet
Analysing government statistics
12
Disadvantages of becoming a franchisee are...
Franchises are more likely to fail
Franchisee has to pay a fee to the franchisor to set up
Franchises tend to sell unpopular products
Franchisees need more business skills than setting up alone
13
What is the purpose of a business?
To pay taxes to the government
To give everyone a job
To produce goods and services
To make big profits for its owners
14
A small business makes cakes. Which of these are most likely used directly in production?
Airfreight
Television adverts
Flour
Taxes
15
Franchisees...
Sell materials for use in production to franchisors
Receive a royalty from franchisors
Receive training and support from franchisors
Sell the rights to make a product to franchisors

Unit 1.1 Flashcards | StudBud