Business learning Aims A and B

Question	Answer
Aims	Overall goals that a business wants to achieve in order to succeed
B2B	Business is selling to another business
B2C	Business is selling to individuals or households
Consumables	Goods that are used and replaced regularly, such as soap or toothpaste
Consumer	A private individual who buys and uses goods and services
Sales model	Focus: on selling goods Revenue: comes from sales
Marketing model	Focus: meeting customer needs Revenue: sales to loyal customers
SMART	Specific Measurable Achievable Realistic Time-Related
Gaps in the market	Is a customer need that is not yet fully met by other businesses
PESTLE	Political Economic Social Technological Legal Environment
Market research	Is the process of collecting and interpreting data about customers, competitors and market trends by collecting primary & secondary data
Primary research	is original data obtained from customers or consumers
Secondary research	Is data that already exists elsewhere so collecting this is known as desk research
Qualitative research	Linked to opinions
Quantitative research	Related to numbers

Resource summary

	Created by s1500718 over 8 years ago