A LEVEL EDEXCEL BUSINESS PAPER 1 Questions and Correct Answers the Latest Update
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Course
A LEVEL EDEXCEL BUSINESS
Institution
A LEVEL EDEXCEL BUSINESS
mass market
a market that targets a large segment - products are standardised
niche market
a market that targets a small segment - customers have specific needs that aren't catered
by the mass market
brand name
a name, sign, symbol or other feature that allows consumers to identify the go...
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marketing
✓ process that involves identifying, analysing and anticipating customer requirements
profitably
market share
✓ the total sales a business has in a particular market that involves one and more other
businesses
primary/field research
✓ data collected first-hand for a specific purpose (involves questionnaires)
secondary/desk research
✓ data that already exists for a different purpose (can be internal - stock movements/sales
figures and external - international publications/rival websites)
quantitative research
✓ data can be measured (financial element to it)
qualitative research
✓ research based on opinions, beliefs and intentions.
consumer panel
✓ group of consumers are asked for feedback of a product after a period of time
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