Flashcards
Unite 3.2: Meeting Customer Needs
Cards in this deck (19)
- 1Customer ExpectationsWhat customers expect they are going to receive for the service they have paid for.
- 2Design MixIt consists of three aspects Price, Aesthetics and Function.
- 3PatentRegistering a new way of making something, so that no one can copy the idea for 20 years.
- 4Buffer (Stock)The minimum stock level held at all times to avoid running out.
- 5RetailersBusinesses that sell goods to the public i.e. Shops
- 6StockItems held by a firm for use of sale.
- 7Culture.The accepted attitudes and practices of a community.
- 8Quality ControlPutting measures in place to check that the customer receives an acceptable level of quality.
- 9WarrantyThe garuntee by the producer that it will repair any faults in a product for a specific period of time - usually one year.
- 10AutomatedProcesses that are fully carried out by machinery rather than people.
- 11ProductivityEfficiency, measured by output per worker per hour.
- 12DurabilityHow strong the product is and therefore how well and long it lasts.
- 13MonopolyWhen there is only one supplier, i.e. no competition one company has the market to itself.
- 14Red TapeImplies tangling firms up in too may rules and regulations; stifling them.
- 15Sales of Goods ActGoods must be fit for purpose for which they are sold, fit for purpose means free from defects, the appearance and durability.
- 16Trades Description ActIt is an offense to use false or misleading statements, label foods and services and wrongly and can lead to fines or jail.
- 17Consumer Credit ActEver item sold o credit must have a clear indications of the APR - the annualized percentage interest rate - being charged.
- 18Weights and Measures ActIf the bag says 500 grammes, that is what it must contain.
- 19Food Safety ActTo prevent illness from eating food sold to the public by insisting that sales staff have hygiene training and that premises are inspected regularly.
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- GCSE Business Studies (Unit 3) Flashcards on Unite 3.2: Meeting Customer Needs, created by nk_ on 20/10/2013.
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