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