Business learning Aims A and B

s1500718
Flashcards by s1500718, updated more than 1 year ago
s1500718
Created by s1500718 over 5 years ago
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This is flash cards of Business Level 2 learning aims A and B

Resource summary

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
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