business revision

what are the 4 market segments

• location, price, quality, marketing,

• location, income, lifestyle, age

• location, price, customer service, product range

• convenience, reliability, risk factors income

which two of the following are methods of qualitative market research

• focus groups

• observation

• one to one interviews

• postal questionnaires

which two of the following do competitors force businesses to do

• offer a good price

• draw up a business plan

• follow legal obligations

• develop innovative plans

which one of the following is not a common type of customer need

• quality

• convenience

• promotion

• great design

one benefit to a business of using market mapping

• get a better price

• more original prices

• get in date research

• to see the market gap

name the five financial aims and objectives

• revenue, profit, personal satisfaction, independence, control

• survival, profit, sales, market share, financial security

name the non-financial aims and objectives

• income, location, lifestyle, age, personal satisfaction, control

• market shares, better prices, better image

• location, advertising, lifestyle, image, age,

• social objectives, personal satisfaction, challenge, independence, control

what is the revenue equation

• = quantity / price

• = cash flow / break even output

• = quantity x price

• = quantity / cash flow

what is the total cost equation

• fixed cost - variable cost

• profit - lost

• quantity / price

one advantage of a private limited company

• can sell shares to outside investors

• risk of losing control

• usually reliable

• tangible