Unit 3 - Review - GCSE Business Studies

Question 1

Identify an advantage of branding?

Accepted Answer

People widely recognise the products

Question 2

Which one of the following would most likely be considered as an example of marketing a product

Accepted Answer

Surveying Customers

Question 3

Formula to calculate revenue?

Accepted Answer

Quantity sold x price

Question 4

What is a tall structure?

Accepted Answer

Lots of levels of management

Question 5

Excessive business communication can lead to what?

Accepted Answer

Mixed messages being given

Question 6

What is the top level of maslows needs?

Accepted Answer

Self Actualisation

Question 7

What is meant about qualitative market research?

Accepted Answer

Opinions / Open answers

Question 8

What is the second stage of the product life cycle?

Accepted Answer

Growth

Question 9

What is meant by wages?

Accepted Answer

Paid by the hour

Question 10

Identify the stage of the Product Life cycle when sales are going t be rapid?

Accepted Answer

Growth

Question 11

What can product trial lead to?

Accepted Answer

Repeat purchase

Question 12

What is an example of primary research?

Accepted Answer

Interviews, Survey

Question 13

What is meant by a product trial?

Accepted Answer

Persuading customers to buy a product for the first time?

Question 14

What is a market segment?

Accepted Answer

A group of people with similar interests

Question 15

Which section of the boston matrix indicates a dying or failing product?

Accepted Answer

Dog

Question 16

What is meant by the term Premium Price?

Accepted Answer

A high price for a quality product

Question 17

What does an extension strategy do?

Accepted Answer

Increases the life of a product?

Question 18

Methods to improve cash flow?

Accepted Answer

Reduce cash outflows

Question 19

What is a benefit of using JIT stock control?

Accepted Answer

Fresh products

Question 20

What is centralised structure?

Accepted Answer

Decisions made by head office / management?

Question 21

What is meant by competitiveness?

Accepted Answer

Matching and beating rival businesses

Question 22

What is quality assurance?

Accepted Answer

Testing at different stages of the production

Question 23

Select one method of reducing costs?

Accepted Answer

Cutting workforce numbers

Question 24

What is meant by Buffer Stock?

Accepted Answer

Having a minimum amount of stock

Question 25

What is meant by repeat purchase?

Accepted Answer

Customers coming back to purchase their products again.

Question 26

Which of the following is a cash inflow?

Accepted Answer

Taking out a bank loan

Question 27

Offering customers a free sample of a new product is an example of what?

Accepted Answer

Product Trial

Question 28

Which one of the following is a fringe benefit?

Accepted Answer

Company car

Question 29

What is quality control?

Accepted Answer

Tests the products once it has been made

Question 30

Which of the following is an example of an extension strategy?

Accepted Answer

New Packaging

Question 31

What is the formula for profit?

Accepted Answer

Revenue - Total Costs

Question 32

Identify a barrier to effective communication

Accepted Answer

Use of technical terms / jargon, Language/ accents

Question 33

What is a benefit of buffer stock?

Accepted Answer

Businesses can meet unpredicted demand

Question 34

Which section of the Boston Matrix indicates an established product?

Accepted Answer

Cash Cow

Question 35

What is meant by productivity?

Accepted Answer

The amount of products produced over a given time

Question 36

Identify a benefit of following consumer protection laws?

Accepted Answer

Good reputation with customers

Unit 3 - Review - GCSE Business Studies

Questions 36

Unit 3 - Review - GCSE Business Studies

Questions 36