GCSE BUSINESS STUDIES
What is business?
A business is when you make money out of by selling goods and services. They do this by using resources such as raw materials, labour and machines.
What is a customer?
A customer is when people by goods and services in return of money.
What is a supplier?
A supplier is a business which sells products to other business.
What is a consumer?
A person who uses or (consumes) a product.
What is market research?
A market research is the action of getting information about consumers needs and preferences.
What is primary research?
A primary research is when you collect information yourself for example survey,interviews and more.
What is secondary research?
A secondary research is research that other people have made that you use for example websites, internet and more
What is 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?
Quantitative data is data that can be measured numerically. Things that can be measured precisely -- rather than through interpretation.
What is market map?
What is market segments?
Name some expensive shops
Name some cheap shops
What does it mean by " a gap in the market"