Business
Unit 1

Businesses

What is a business?

What things do you need to think about when setting up a business?

What is a supplier?

What is production?

Define what a customer is?

What is a consumer?

Primary research?

Examples of primary research?

Secondary research?

Examples of Secondary research?

What can market research tell a business?

Advantages of Primary research?

Advantages of Secondary research?

Qualitative data?

Quantitative data?

Market mapping?

Market segments?

What ways can a market be segmented?

What are the benefits of market segmentation?

Market map?

Ways to compete?

Branding?

Added value?

Ways to add value?

The importance of added value?

USP?

Franchise?

What do franchise get when buying into business?

Benefits of franchise?

Drawbacks of a franchise?