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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
Influencer marketing involves individuals with a weak social media presence promoting products to the target market.
False
True
2
What is a significant driver for the creation of new business ideas?
Government regulations
Fluctations in stock markets
Changes in consumer trends
Technological advancements
3
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
4
What factor has spurred the creation of businesses catering to healthier lifestyles?
Decrease in plant-based diets
Decline in consumer interest in health
Growing interest in health and wellness
Rise in traditional meat consumption
5
What change in consumer behaviour has influenced the growth of digital entertainment businesses?
Adoption of online streaming services
Decrease in social media usage
Shift towards traditional media consumption
Preference for physical media
6
The popularity of plant-based diets has not influenced the success of companies like Beyond Meat and Impossible Foods.
False
True
7
How can new business ideas be generated?
By making products and services less efficient and convenient
Solely by building upon existing ones
Only through entirely fresh concepts
By building upon existing ones or introducing entirely fresh concepts
8
As products & services become obsolete, entrepreneurs identify opportunities to introduce fresh & improved alternatives.
False
True
9
The rise of eco-friendly products & businesses has been driven by consumers' increased environmental awareness.
True
False
10
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
11
The rise of online streaming services signals a movement away from traditional media consumption.
False
True
12
Technological advancements rarely influence consumer behavior.
False
True
