3.2 Keywords - Meeting Customer Needs

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3.2 - Meeting Customer Needs - Keywords & Definitions - Edexcel Business Studies

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Question Answer
Design Mix The range of variables which contribute to successful design; they are function, cost, and appearance
Stocks Materials that a business holds. Some could be materials waiting to be used in the production process and some could be finished stock waiting to be delivered to customers.
Maximum stock levels The highest amount of stock to be kept by a business
Re-order level The amount of stock held by a business at which an order for new stock is placed with suppliers
Buffer stock level or minimum stock level The lowest amount of stock to be kept by a business
Just In Time (JIT) A stock management system where stocks are only delivered when they are needed by the production system, and so no stocks are kept by a business
Quality Achieving a minimum standard for a product or service, or a production process which meets customers needs
Quality Control Ensuring that a product or service meets minimum standards, often through testing of sample products once they have been made
Quality Assurance Ensuring that quality is produced and delivered at every stage of the production process, often through making quality the responsibility of every worker
Customer Service The experience that a customer gets when dealing with a business and the extent to which that experience meets and exceeds customer needs and expectations
Innovation The process of transforming inventions into products that can be sold to customers
Sale of goods legislation Gives consumers rights to compensation if a product they buy is not of merchantable quality, not as described or not fit for purpose
Trade description legislation Makes businesses liable for prosecution and fines if products are sold in a misleading way
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