GCSE Business Studies

Information Sheet

WHAT IS A BUSINESS?

An organization where goods are exchanged for one another or for money.

WHAT IS A CUSTOMER?

A customer is a person who buys goods or services from shops or a business.

WHAT IS A SUPPLIER?

someone whose business is to supply a particular type of goods or service.

WHAT IS A CONSUMER?

A person who purchases goods and for their own personal use.

CHAPTER 2
MARKET RESEARCH

WHAT IS MARKET RESEARCH?

Market research is an action of gathering information about consumers needs.

WHAT IS SECONDARY RESEARCH?

secondary data is data collected by other sociologists.

WHAT IS QUALITATIVE DATA?

Qualitative data is a categorical measurement expressed not in terms of numbers, but rather by means of a natural language description.

WHAT IS QUANTITATIVE DATA?

CHAPTER 3
market mapping

WHAT IS A MARKET MAP?

WHAT IS MARKET SEGMENTS?

NAME SOME EXPENSIVE SHOPS

NAME SOME CHEAP SHOPS

WHAT DOES IT MEAN BY "A GAP IN THE MARKET"

Comment Stream