Enterprise - Component 1 learning aim B - key words to learn

The process of finding information on the market, customers and competitors, to help design products and services is called __________.

• market research

• product development

• financial analysis

• customer service

Which type of questions do not need the respondent to describe their answer, and may select a number, yes/no or a choice to a particular question?

• Closed-ended

• Open-ended

• Descriptive

• Subjective

Fill in the blank: Those questions that are yes/no or short answers that are specific; for example, how many times or when and do not include feelings are called __________ questions.

• closed-ended

• open-ended

• leading

• rhetorical

Fill in the blank: An __________ interview is when an interviewee is asked a series of questions in a casual setting; for example a coffee shop or at home, to find out thoughts and feelings.

• informal

• formal

• structured

• group

Fill in the blank: A __________ is a group interview involving people who have similar traits or experiences who participate in a group discussion so that an enterprise can gain their thoughts and opinions on a range of topics.

• focus group

• survey panel

• brainstorming session

• workshop

Fill in the blank: __________ magazines can be a source that has a focus on a particular sector.

• specialized

• general

• weekly

• monthly

Fill in the blank: __________ is a government organisation that registers company information and makes it available to the public, for limited partnerships, Limited Liability Partnerships (LLPs) and Private Limited Companies (Ltd).

• Companies House

• Business Registry

• Corporate Office

• Company Bureau

Fill in the blank: __________ is another word for the amount of goods an enterprise immediately has available for sale, without having to order more from another supplier.

• inventory

• revenue

• liability

• equity

Customer expectations are:

• The perceived value or benefits that customers seek when purchasing a good or service.

• The actual product or service received by the customer.

• The marketing strategies used by a company to attract customers.

• The financial performance of a company.

What is a unique selling point (USP)?

• A unique feature that differentiates a product from its competitors

• A common feature found in all products

• A government regulation for product safety

• A marketing strategy used by all companies