Which of these is an example of digital communication?

• A face-to-face interview

• A letter

• A magazine

• A website

What is the final stage of the product life cycle?

• Decline

• Delegation

• Distribution

• Diversification

Five firms operate in a market. The pie chart below shows the annual revenue for each of these five firms. Awareness of market share will inform the decisions Firm E need to make to achieve business growth.

What is the market share of Firm E?

• 25%

• 30%

• 33¹/₃%

• 90%

Which one of the following is not a benefit of being a sole trader?

• Own boss

• Keep all profits

• Pursue personal goals

• Shared responsibility

Boohoo was started in 2006 by two entrepreneurs who had the idea of starting a business where customers could buy the latest fashions online.Boohoo has expanded using organic growth, and has become a global online retailer of its own brand clothes, shoes and accessories. It now sells in over 100 countries. Boohoo charge for delivery. It has millions of website users per month.The target market for the Boohoo brand is men and women who are 16 to 24 years old and are fashion conscious. To reach this market, Boohoo uses social media. The business is active on Facebook, Twitter, YouTube and Instagram.Boohoo has also introduced apps for smartphones and tablets that allow customers to browse and buy products very easily.

• Creativity (Had an idea of starting a business)

• Carried out market research

• Hard working ( Helped the business grow)

• Willing to take risks (Expanding into different markets)

Who is a director’s subordinate?

• A shareholder

• A customer

• A manager

• A supplier

A well-known restaurant chain buys another well-known restaurant chain.What is this an example of?

• A horizontal takeover

• A vertical merger

• Diversification

• Innovation

A small business that sells baby clothes has done some market research using a range of information sources. Which of the following would have been obtained from internal data?

• Articles in parenting magazines

• Competitor websites

• Government statistics on birth rates

• Sales figures showing the shop’s best-selling products

A firm only has the resources to introduce one new product to the market. The results of its market research survey are shown below.

•5% of women and 18% of men said they would consider buying the product.•

Of these, 30% favoured the basic model and 70% favoured the advanced model.

Which one of the following does the market research suggest it would be best for the firm to do?

• Produce the advanced model and target men

• Produce the advanced model and target women

• Produce the basic model and target men

• Produce the basic model and target women

Boohoo was started in 2006 by two entrepreneurs who had the idea of starting a business where customers could buy the latest fashions online.Boohoo has expanded using organic growth, and has become a global online retailer of its own brand clothes, shoes and accessories. It now sells in over 100 countries. Boohoo charge for delivery. It has millions of website users per month.The target market for the Boohoo brand is men and women who are 16 to 24 years old and are fashion conscious. To reach this market, Boohoo uses social media. The business is active on Facebook, Twitter, YouTube and Instagram.Boohoo has also introduced apps for smartphones and tablets that allow customers to browse and buy products very easily.

How have Boohoo expanding by using organic growth?

• Advertising on vairous social media platforms to gain new customers

• By opening new stores in over 100 countries

• Through reinvesting in the business and introducing new products

• Taking over other tech companies