AQA Unit 2 Business Studies GCSE Quiz

What are the three main market research methods used by businesses?

• Experiments, focus groups, and social media analysis

• Surveys, interviews, and observations

• Phone calls, online forums, and product testing

• Email surveys, customer feedback forms, and website traffic analysis

Explain the difference between primary and secondary market research methods.

• Primary market research involves using existing data that has already been collected, while secondary market research involves collecting data directly from the source.

• Primary market research is more cost-effective than secondary market research.

• Primary market research is less time-consuming than secondary market research.

• Primary market research involves collecting data directly from the source, while secondary market research involves using existing data that has already been collected.

Why is market research important for businesses?

• Market research is not important for businesses

• Businesses can rely on intuition and guesswork instead of market research

• Market research is only important for large businesses, not small ones

• Market research provides valuable insights into customer needs and preferences, helps identify market opportunities, and reduces the risk of business failure.

What are the three main types of business ownership?

• Sole trader, partnership, and corporation

• Franchise, conglomerate, non-profit organization

• Sole proprietorship, cooperative, LLC

• Limited liability partnership, joint venture, conglomerate

What are the advantages and disadvantages of sole traders?

• Sole traders have limited liability and struggle to raise finance

• Sole traders have high taxes and low profits

• Sole traders have no control and share all profits

• Sole traders have full control and keep all profits, but they also have unlimited liability and may struggle to raise finance.

Compare and contrast the features of a partnership and a private limited company.

• Partnership is owned and managed by one person, while a private limited company is owned by the government.

• Partnership is owned and managed by two or more individuals, while a private limited company is owned by shareholders and managed by directors.

• Partnership has limited liability, while a private limited company has unlimited liability.

• Partnership is not a legal entity, while a private limited company is a non-profit organization.

What are the 4P's of the marketing mix?

• Product, Place, People, Profit

• Product, Price, Place, and Promotion

• Promotion, Packaging, Publicity, Positioning

• Price, Packaging, Public Relations, Placement

How does the marketing mix help businesses to achieve their objectives?

• By providing a framework for making strategic decisions about product, price, place, and promotion.

• By making decisions randomly without any framework

• By ignoring customer needs and preferences

• By focusing only on one aspect of the business

Explain the concept of product differentiation in the context of the marketing mix.

• Selling a product at a lower price than competitors

• Creating a new product without any market demand

• Using the same advertising strategy as other products

• Distinguishing a product or service from others in the market

What are the internal influences on a business?

• Weather, geography, and technology

• Customer preferences, market trends, and competition

• Government regulations, economic conditions, and social trends

• Factors such as management, culture, resources, and structure.