AQA AS BUSINESS Paper 1 Business 1 QP 2024 300 Q/A): 100 % Verified Answers, Already Graded A 2023/2024
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AQA AS BUSINESS Paper 1 Business 1 QP 2024 300 Q/
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AQA AS BUSINESS Paper 1 Business 1 QP 2024 300 Q/
AQA AS BUSINESS Paper 1 Business 1
QP 2024 300 Q/A): 100 % Verified
Answers, Already Graded A 2023/2024
Shareholder - ANS-An owner of a company
Business - ANS-The creation of a customer; in other words,
conceiving a product or service that people will pay enough for to
generate a profit
...
AQA AS BUSINESS Paper 1 Business 1
QP 2024 300 Q/A): 100 % Verified
Answers, Already Graded A 2023/2024
Shareholder - ANS-An owner of a company
Business - ANS-The creation of a customer; in other words,
conceiving a product or service that people will pay enough for to
generate a profit
Shareholder value - ANS-A term widely used by company chairmen
and chairwomen , which means little more than the attempt to
maximize the company's share price.
Social responsibility - ANS-Duties towards stakeholder groups ,
which the firm may or may not accept
Stakeholder - ANS-an individual or group that affects and is affected
by an organisation
Supply Chain - ANS-all the contractors, sub contractors and
delivery businesses involved in getting supplies / components to
your factory business
Marketing - ANS-Can be seen as either a way of thinking or a range
of activities. For most modern businesses marketing is focusing the
goals and strategies of the business on an identified market
opportunity.
,Bench marked Data - ANS-information on how well one company is
performing compared with its peers/ competitors, eg on customer
complaints per 100 sales
Test market - ANS-Trialing a new product is and area of the country
to get feedback on real sales in the real world
Competitiveness - ANS-Measures a firm's ability to offer a better
combination of price and quality than its rivals
Non- price competition - ANS-Rivalry based factors other than price
(for example, advertising, sales, promotions or new improved
products)
Predatory pricing - ANS-When a large company sets prices low with
the deliberate intention of driving a weaker rival out of business
USP (unique selling price) - ANS-A point of genuine difference that
makes one product stand out from the crowd.
Marketing Objectives - ANS-The targets set for the marketing
department to help meet the goals of the corporation as a whole.
Competition and Markets Authority - ANS-The renamed
Competition Comission, set up in 2014 to intervene where
necessary to protect consumers from anti-competitive business
practices.
Market Share - ANS-The percentage of total sales in a market held
by a brand or a company.
, Re-positioning - ANS-means tweaking the product, branding an
image to shift the proposition to a slightly different place in the
market sector.
Short-termist - ANS-taking decisions on the basis of the short-term
need rather than the long-term benefit.
Luxury goods - ANS-Products that people buy much more of when
they feel better off.
Normal goods - ANS-products or services for which sales change
broadly within the economy. That is, if the economy grows by 3% ,
sales rise by 3% (travel and fast-food)
Market Research - ANS-Gathers information about consumers and
distributors within a firm's target market. It is a way of identifying
consumer's buying habits and attitudes to current and future
products.
Bias - ANS-A factor that causes research findings to be
unrepresentative of the whole population. For example bubbly
interviewers or misleading survey questions.
Primary Research - ANS-Finding out information first-hand
Secondary research - ANS-Finding out information that has already
be gathered.
Sample size - ANS-The number of people interviewed. This should
be large enough to give confidence that the findings are
representative of the whole population
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