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Edexcel a level summary notes
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Covers all topics from the textbook to achieve an A*-B. All summarised from the textbook and handwritten.
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Edexcel A-level business summary
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Edexcel AS/A level Business textbook mind map/notes of chapter 39
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erneedsMeetingcustom
Marketshare
Yass market a market in whichproductswith
very large
are targeted
mass appeal
to
the market a smaller market usuallywithin a
large market or industry
duct orientation the business focuses on the production
process and
the product itself thebelief that it is whatthecustomers ge not remain thesame over
wantand will sell a period of time
arhet orientation the business continually identifies reviews and
one of the biggest change is online
analysesconsumer
retailingas
customers
needs it is led can browse
by the market Changes products
according gathed Personal information
buy 24 7 easier to
do the market
markets can
first hand field research change through size nature and
rimary Research new uptodate new emergingmarkets
erandaryResearch alreadyexisting deskresearch nottailored to whatthe _somefactors that
business market mayleadto innovation and
mayneed growth are economicgrowthinnovationsocial
change legislation and demographic
vantitatirate data that can be quantified statistics If businesses donotadapt then
theywill most
valitative data on thoughts opinions
likely lose market share at worstfailingto
avoid this the business needs to beflexible use
continuous market research investment funds
do continuous improvements
or develop a niche
Risk uncertainty
of the pan noman
how much research is done owners take risk when the outcome
is unknown
and commit resources that could be lost
Human behaviour
could affect it as well as they
thedata the business maynotgive with uncertaintyexternalinfluences could
happen
, Market income
of demand
elasticity change in quantitydemanded Types of bra
Manufacturer
actors changingdemand in the market change in income
ownlabelbr
Price of substitutes
Price of complements
measures responsiveness of demand to a change Generic bran
in income
Consumerincomes
greater than 1
benefits of bra
fashiontastes preferences
is income elastic
addedvalue
less than 1 income inelastic
advertising branding
Abilityto cha
demographics factors affecting it Reducedprice
external shocks
seasonality
necessities
luxuries
actors leadingto a changein
supply
in costof production
YE.L f
changes
introductionof new technology advertising
indirect taxes
sponsorship
Government subsidies function
Social media
externalshocks hetic
en supply demand interact one effects the withpeoplecomingaware their lifestyles viral marketin
her have on the environmenttheyhave adapted social media
their social trends which means businesses
demand changes prices will change in the
have to factor these into the design mix emotional branding
ame
way Design for waste minimisation
is is because
theydonotwant to beleftwith
much stock or tooless Designfor re use
Design for recycling
ethical priceskimmi
sourcing
ce elasticity Percentagechange in demanded
penetration
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