What is the definition of the term Market Research?

The process of gathering information about customers.

What is the definition of the term Small to Medium Enterprises (SMEs)?

Enterprises with fewer than 250 staff.

What is the definition of the term B2C Market?

A market in which companies sell products directly to consumers.

What is the definition of the term Push Strategies?

Marketing strategies aimed at selling a product at the point of purchase.

What is the definition of the term Private Shares?

A stake in a company, from which the owner recieves a share of the profits.

What is the definition of the term Capital?

The money, assets and equipment that an enterprise uses in order to trade.

What is the definition of the term Qualitative Research?

Market research that looks at thoughts, feelings and opinions.

What is the definition of the term Cash Flow Forecast?

Predictions of the cash inflows and outflows in the future.

What is the definition of the term Interest?

The percenatge of money added to a loan that must be repaid.

What is the definition of the term Retained Profit?

Profit earned from trading that is reinvested back into the enterprise.

What is the definition of the term Market Share?

The proportion of a market controlled by a particular company.

What is the definition of the term Fluctuation?

Variations such as rises and falls in prices or costs.

What is the definition of the term Profit?

The amount of money earned minus the costs paid out.

What is the definition of the term Industry?

An area of closely related goods or services that are being sold.

What is the definition of the term Chains?

Groups of businesses, such as coffee shops, owned by one parent company.

What is the definition of the term Loan?

A sum of money borrowed that is expected to be paid back to the lender.

What is the definition of the term Liquid Assets?

Assets that can be used in the short term to pay for things.

What is the definition of the term Market?

The type of customers an enterprise sells to.

What is the definition of the term Contingency Plan?

A back-up plan for when things go wrong for an enteprise.

What is the definition of the term Running Costs?

The costs that have to be paid to keep a business trading.

What is the definition of the term Budget?

The amount of money designated for a specific activity or period of time.

What is the definition of the term Break-even?

The point where income and total costs are equal.

What is the definition of the term Net Current Assets?

The difference between current assets and current liabilities.

What is the definition of the term Liquidity?

The ability of an enterprise to pay its debts.

What is the definition of the term Market Segment?

A section of the market with common characteristics.

What is the definition of the term Gap in the Market?

When an enterprise identifies an idea that no other business is offering.

What is the definition of the term Services?

Acts or tasks carried out by an enterprise that can be purchased.

What is the definition of the term Enterprise?

An organisation that provides goods or services.

What is the definition of the term Limited Liability?

When owners are not personally responsible for their enteprise's debts.

What is the definition of the term Customer Needs?

The wants and requirements a customer has for goods or services.

What is the definition of the term Gross Profit?

Money made from selling products after the cost of sales has been deducted.

What is the definition of the term Start-up Costs?

The amount of money spent setting up a business before it starts trading.

What is the definition of the term Goods?

Physical products that can be purchased.

What is the definition of the term Legislation?

The laws of a country, which enterprises must obey.

What is the definition of the term Competitors?

Businesses that sell similar goods or services to your enterprise.

What is the definition of the term Net Profit Margin?

The net profit as a percentage of sales revenue.

What is the definition of the term Net Cash Flow?

The difference between cash inflows and outflows over a period of time.

What is the definition of the term Demand?

The amount of customers actively wanting your goods or services.

What is the definition of the term Pull Strategies?

Marketing strategies aimed at increasing the demand for a product.

What is the definition of the term Consumers?

The people who buy and use goods and services.

What is the definition of the term Quantitative Research?

Market research that looks at at statistics and numbers.

What is the definition of the term Cash Flow Statement?

Records of the cash inflows and outflows of the past.

What is the definition of the term Net Profit?

Money made from selling products after all costs have been deducted.

What is the definition of the term Innovative?

Coming up with new products and ideas.

What is the definition of the term Target Market?

The section of the market an enteprise aims to supply.

What is the definition of the term Entrepreneur?

A person who sets up a new enteprise.

What is the definition of the term B2B Market?

A market in which companies sell products to one another.

What is the definition of the term Cash Outflow?

The amount of money leaving a business's bank account.

What is the definition of the term Gross Profit Margin?

The gross profit as a percentage of sales revenue.

What is the definition of the term Cost of Sales?

The cost of producing a product.

What is the definition of the term Trade Credit?

Allows a customer to 'buy' things from a business, and pay for them later.

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BTEC Enterprise Keywords

60 termsStudBud Administration267 plays

A quiz about all of the keywords listed in the glossary of the BTEC Enterprise textbook.

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Questions 60

Answers

1
What is the definition of the term Market Research?
The process of finding suppliers.
The process of finding out the history of an industry.
The process of finding available property to buy.
The process of gathering information about customers.
2
What is the definition of the term Small to Medium Enterprises (SMEs)?
Enterprises with 250+ staff.
Enterprises with fewer than 250 staff.
Enterprises with fewer than 100 staff.
Enterprises with fewer than 10 staff.
3
What is the definition of the term B2C Market?
A market in which companies sell products to both consumers and companies.
A market in which companies sell products to their own employees.
A market in which companies sell products to one another.
A market in which companies sell products directly to consumers.
4
What is the definition of the term Push Strategies?
Marketing strategies aimed at selling a product at the point of purchase.
Marketing strategies aimed at increasing the demand for a product.
5
What is the definition of the term Private Shares?
The percentage of profit an employer shares between their employees.
A stake in a company, from which the owner recieves a share of the profits.
A percentage of the market owner by a business.
A product that is sold to two or more customers.
6
What is the definition of the term Capital?
The intellectual property than an enterprise owns the rights to.
The money, assets and equipment that an enterprise uses in order to trade.
The costs an enterprise incurs from trading.
The main building that an enteprise trades from.
7
What is the definition of the term Qualitative Research?
Market research that looks at thoughts, feelings and opinions.
Market research that looks at at statistics and numbers.
8
What is the definition of the term Cash Flow Forecast?
Predictions of the cash inflows and outflows in the future.
Records of the cash inflows and outflows of the past.
9
What is the definition of the term Interest?
The percentage of money deducted from a loan that must be repaid.
The percenatge of money added to a loan that must be repaid.
10
What is the definition of the term Retained Profit?
Profit earned by leasing premises and equipment.
Profit earned from trading that is reinvested back into the enterprise.
Profit earned from investing in another business.
Profit gained by deducting from employee's wages.
11
What is the definition of the term Market Share?
A section of the market with common characteristics.
The amount of customers in a market that are loyal to your enteprise.
The proportion of a market controlled by a particular company.
The amount of customers who go shopping on a particular dayof the week.
12
What is the definition of the term Fluctuation?
When the price of a product increases.
Variations such as rises and falls in prices or costs.
When the price of a product decreases.
An increase in the amount of rent a business must pay for its premises.
13
What is the definition of the term Profit?
The amount of money earned minus the costs paid out.
The amount of costs paid out minus the money earned.
The amount of money earned divided by the costs paid out.
The amount of money earned divided by the number of employees.
14
What is the definition of the term Industry?
Products that must be made in factories.
An area of closely related goods or services that are being sold.
Products that must be harvested or grown.
A group of products that are mass produced.
15
What is the definition of the term Chains?
Businesses that require resources from a supplier in order to trade.
Independant businesses that do not rely on other businesses to trade.
Businesses that supply the resources needed for other businesses to trade.
Groups of businesses, such as coffee shops, owned by one parent company.
16
What is the definition of the term Loan?
A sum of money borrowed that is expected to be paid back to the lender.
A product that is given to a customer to sample before they fully buy it.
Another word for a bank.
The wages that an enterprise pays to its employees.
17
What is the definition of the term Liquid Assets?
Assets that often fluctuate in value.
Assets that are not phsyical goods, such as brands or repuation.
Assets that can be used in the short term to pay for things.
Assets that are liquids, such as oil and water.
18
What is the definition of the term Market?
A form of mass communicationused to reach large amounts of people.
The process of gathering information about customers.
The type of customers an enterprise sells to.
The group of competitors an enterprise faces in the local area.
19
What is the definition of the term Contingency Plan?
A plan of the trading the enterprise is doing in another continent.
A back-up plan for when things go wrong for an enteprise.
A plan of an enterprise's day-to-day activities.
A document listing all the insurance an enterprise has purchased.
20
What is the definition of the term Running Costs?
The delivery charge added to the price of a product.
The costs of transportation and powering vehicles.
The costs of starting up a business.
The costs that have to be paid to keep a business trading.
21
What is the definition of the term Budget?
The amount of time designated for a specific activity to be completed in.
The amount of work designated for each employee of a business to complete.
The amount of money designated for a specific activity or period of time.
The amount of assets designated for each employee of a business to use.
22
What is the definition of the term Break-even?
The point where income and total costs are equal.
The point where income and employee wages are equal.
The point where income and fixed costs are equal.
The point where income and variable costs are equal.
23
What is the definition of the term Net Current Assets?
The total value of all assets obtained in the past year.
The assets a business has loaned from another organisation.
The difference between current assets and current liabilities.
The total value of all assets obtained since the business was founded.
24
What is the definition of the term Liquidity?
The ability of an enterprise to trade in international waters.
The ability of an enterpise pay for utilities, such as running water.
The ability of an enterprise to pay its debts.
The ability of an enterprise to adapt to changes in customer preferences.
25
What is the definition of the term Market Segment?
The amount of customers who go shopping on a particular day of the week.
A section of the market with common characteristics.
The proportion of a market controlled by a particular company.
The amount of customers in a market that are loyal to your enteprise.
26
What is the definition of the term Gap in the Market?
When an enterprise identifies an idea that no other business is offering.
A product than no business is able to offer to customers.
When an enterprise copies the idea of another business.
An open space to offer new products in a store.
27
What is the definition of the term Services?
Acts or tasks carried out by an enterprise that can be purchased.
Physical products that can be purchased.
28
What is the definition of the term Enterprise?
An organisation that provides charitable donations.
An organisation that provides public services.
An organisation that provides goods or services.
An organisation that advises and regulates businesses.
29
What is the definition of the term Limited Liability?
When owners are not personally responsible for their enteprise's debts.
When owners are personally responsible for their enteprise's debts.
30
What is the definition of the term Customer Needs?
The wants and requirements a customer has for goods or services.
The feedback a customer gives after using a product.
A form of market research that requires interaction with a customers.
The amount of money a business needs to get from customers to break-even.
31
What is the definition of the term Gross Profit?
Money made from selling products before the cost of sales is deducted.
Money made from selling products after the cost of sales has been deducted.
32
What is the definition of the term Start-up Costs?
The amount of money used to run a business each day.
The amount of money loaned from a bank to set up a business.
The amount of money a business spends hiring new employees.
The amount of money spent setting up a business before it starts trading.
33
What is the definition of the term Goods?
An act or task carried out by an enterprise that can be purchased.
Physical products that can be purchased.
34
What is the definition of the term Legislation?
The laws set by employees, which managers must obey.
The laws of a country, which enterprises must obey.
Unoffical laws set by customers, which enterprises should obey.
The laws set by the boss of an enterprise, which employees must obey.
35
What is the definition of the term Competitors?
Businesses that operate in competition-based industries, such as sports.
Businesses that sell similar goods or services to your enterprise.
Customers who try to claim refunds back on products.
A group of businesses that team up to destroy another business.
36
What is the definition of the term Net Profit Margin?
The net profit as a percentage of total costs.
The net profit as a percentage of sales revenue.
The net profit as a percentage of taxable income.
The net profit as a percentage of sales.
37
What is the definition of the term Net Cash Flow?
The difference in value between assets and liabilities.
The difference between cash inflows and outflows over a period of time.
The remaining capital an enterprise first began trading with.
The total amount of cash inflow a business has ever recieved.
38
What is the definition of the term Demand?
The amount of customers actively wanting your goods or services.
The amount of competitors trying to steal your customers.
The resources you need to buy from suppliers.
The working hours your employees must spend working for your enterprise.
39
What is the definition of the term Pull Strategies?
Marketing strategies aimed at selling a product at the point of purchase.
Marketing strategies aimed at increasing the demand for a product.
40
What is the definition of the term Consumers?
The people who buy food and drinks from a business.
Rats and other pests that might bite and damage products.
Businesses that supply food and drinks to other businesses.
The people who buy and use goods and services.
41
What is the definition of the term Quantitative Research?
Market research that looks at thoughts, feelings and opinions.
Market research that looks at at statistics and numbers.
42
What is the definition of the term Cash Flow Statement?
Records of the cash inflows and outflows of the past.
Predictions of the cash inflows and outflows in the future.
43
What is the definition of the term Net Profit?
Money made from selling products before the cost of sales is deducted.
Money made from selling products after the cost of sales is deducted.
Money made from selling products before all costs have been deducted.
Money made from selling products after all costs have been deducted.
44
What is the definition of the term Innovative?
Being able to manage your time effectively.
Knowing business laws and commonly used sales tactics.
Coming up with new products and ideas.
Being able to work well under pressure.
45
What is the definition of the term Target Market?
The section of the market an enteprise aims to supply.
A market that multiple enterprises compete to supply to.
At market that is especially wealthy, and is very profitable to sell to.
The market for bows, arrows and other archery gear.
46
What is the definition of the term Entrepreneur?
A person who invests money on the stock market.
A person who sets up a new enteprise.
A person employed to work at an enterprise.
A customer who remains loyal to a business.
47
What is the definition of the term B2B Market?
A market in which companies sell products to their own employees.
A market in which companies sell products to both consumers and companies.
A market in which companies sell products to one another.
A market in which companies sell products directly to consumers.
48
What is the definition of the term Cash Outflow?
The amount of money entering a business's bank account.
The amount of money leaving a business's bank account.
49
What is the definition of the term Gross Profit Margin?
The gross profit as a percentage of fixed costs.
The gross profit as a percentage of products sold.
The gross profit as a percentage of sales revenue.
The gross profit as a percentage of variable costs.
50
What is the definition of the term Cost of Sales?
Employee wages.
The cost of advertising a product.
Unexpected costs resulting from accidents.
The cost of producing a product.
51
What is the definition of the term Trade Credit?
A score that shows how reliable a business is at paying back its debts.
Assets offered as payment if an enterprise cannot pay back a loan.
A list of all previous transactions a business has made.
Allows a customer to 'buy' things from a business, and pay for them later.
52
What is the definition of the term Break-even point?
The amount of products a business must make inorder to break-even.
The amount of customers an enterprise must serve in order to break-even.
The amount of days an enterprise must trade for in order to break-even.
The number of units an enterprise must sell in order to break-even.
53
What is the definition of the term Economy?
Using the minimum amount of money needed to keep an enterprise running.
Another word for the process of trading with another business.
A ways that a market can be divided based on the wealth a customer has.
The system by which a country's money and goods are used and produced.
54
What is the definition of the term Ethical?
Avoiding advertising false information to customers.
Donating all profits to charitable causes.
Avoiding harm to others, animals or the environment.
Avoiding competition with another business.
55
What is the definition of the term Assets?
People that the enterprise owes money to.
Items that an enterprise owns, including property, brands and cash.
The vehicles and other heavy machinery that the enterprise owns.
People that owe money to the enterprise.
56
What is the definition of the term Demographic?
A group of customers that come from a certain location.
The ways that a market can be divided into groups, such as by age.
A type of graph used to calculate break-even points.
The process of demolishing unnecessary equipment in a safe way.
57
What is the definition of the term Stock?
The amount of products a business needs to order from a supplier.
The money an enterprise has saved in its bank account.
The amount of assets a business possesses.
The amount of goods an enterprise has immediately available for sale.
58
What is the definition of the term Promotional Materials?
Items that help to increase sales or gain business, like leaflets.
The assets given to an employee when they achieve a promotion.
The paper, ink and other resources used to draw posters.
59
What is the definition of the term Cash Inflow?
The amount of money leaving a business's bank account.
The amount of money entering a business's bank account.
60
What is the definition of the term Revenue?
Money coming into an enterprise (income).
Money coming out of an enterprise (costs).

BTEC Enterprise Keywords Flashcards | StudBud