GCSE Business Studies
What is a business? Business' are organisation which produce goods and give out a good service. They do this by acquiring raw materials, labour and machines.
What is a customer? Customers are people that buy goods/services in exchange for money.
What is a supplier? Suppliers are a business which sells (or supplies) products or service to another business.
What is a consumer? A consumer is person who ultimately uses a product.
What is market research? Market research is the process of collecting valuable information to help you find out if there is a market for your future product or service.
What is Primary research? Primary research is the research you carry you out yourself to find out information, which will help you with you future product or service.
Examples? Some examples are; taking a survey and sending emails 0ut.
What is secondary research? Secondary research is when you get information on something that someone else had found out for you.
Examples? Some examples; book or news.
What is qualitative data?
What is quantitive data?
what is a market map?
what is market segments?
name some expensive shops?
name some cheap shops?
what does it mean by 'gap in a market'?