Enterprise & Marketing 1

​ (a)   is the process of collecting information yourself to improve your brand, product or business.

• Primary Market research
• Secondary Market research
• Goverment Research
• Focus Groups

Can you tell me where the Breakeven point is on this diagram?

Which of the below is a Fixed cost for a restaurant?

• Staff Wages

• Insurance for the building

• Raw materials

• Electricity

Label the PLC chart (Product Lifecycle)

b

c

d

e

Extension Strategy

Maturity

Development

Decline

Growth

Introduction

What is the FORMULA for Profit?

• Revenue - Expenditure

• FC + VC

• SPPU - VCPU

• There is no FORMULA

Social media is a form of (a)   promotion. An advantage of this form is that it is ​ (b)   ​ to start for a business

• Digital
• Non-digital
• Cheap and Easy
• Expensive
• Traditional promotion
• Captive audience
• Endorsement

Label the BREAKEVEN chart?

a

b

c

d

e

f

Total Revenue

Fixed Costs

BE Point

Total Costs

Loss

Profit

Organise these options into the right categories for a Burger Van?

Groups:

(a) Fixed Costs

,

(b) Variable Costs

• Insurance

• Salary

• Buns

• Burgers

• Electricity

• Gas

• Water

• Soft drinks

• Cheese

• Garlic Sauce

Which of the following is a SECONDARY form of Market research?

• Qualitative research

• Mintel Report

• Questionnaire

• Focus Group

Which statement describes Competitive pricing?

• Pricing your product in line with that of other businesses.

• Pricing in to seem cheaper than it is.

• Making the product cheaper than it is and increasing over time

• £9.99