1.4 Making the business effective (Part 2)

An end product that is bigger that the raw materials used to make it, such as a bicycle?

• Bulk-bigger product

• Bulk-reducing product

• Bulk-gaining product

• Bulk-minimising product

A product that is smaller than the raw materials it uses, such as fish fingers?

• Bulk-reducing product

• Bulk-gaining product

• Bulk-minimal product

• Bulk-bigger product

A product that a customer buys frequently or routinely?

• Simple product

• Regular good

• Convenience good

• Loyal good

A product that a customer takes time to consider before purchasing, by looking at and weighing up a number of options before choosing one?

• Item

• Shopping good

• Convienence good

• Repeat purchase

The physical characteristics of a landscape such as being flat or hilly?

• Surrounding areas

• Demographic

• Supplier demands

• Topography

A business location decision based upon personal preference or __________. This is when a business is located in a certain area of where it was first setup, possibly the entrepreneurs home town.

• Position

• Location

• Footfall

• Inertia

A tendency to keep things as they are rather than change.

• Inertia

• Suitable

• Nature

• Nurture

Using the internet to carry out business transactions>

• M-commerce

• E-commerce

• F-commerce

• G-commerce

Using mobile technology such as smartphones and tablets to carry out business transactions?

• E-commerce

• Mobile transaction

• M-commerce

• Payment platform

The internet has led to buyers and sellers being able to trade online. This means that there is no need for a __________ premises. (Fill in the blank)

• Huge

• Fixed

• Open

• Small