What is the final stage of the product life cycle?

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?

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

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.

Who is a director’s subordinate?

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

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?

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?

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?

Understanding customer needs is the main purpose of:

A manufacturer of jam buys a fruit farm.

This is an example of:

A motorcycle manufacturer doubled its spending on promotion. This has led to motorcycle sales increasing to £15 million from £12 million.

What is the percentage increase in motorcycle sales?

Best Foot Forward Ltd (BFF)Best Foot Forward Ltd (BFF) operates five stores in the north-west of England, selling shoes (such as ballet and tap) for adult dancers. Up until 2017, the business was growing, due to its reputation for quality products.A new Managing Director, Jessie Thompson, was appointed six months ago to reverse the recent poor performance of the business.Fig. 1 BFF sales revenue and net profit (2017–2019)

Which year was the most profitable?

Madame Co is a women’s clothing manufacturer. To identify trends in the market, the firm carries out a lot of market research.The cost of the market research for Madame Co in the last year is shown in the table below.

Quarter 1 Quarter 2 Quarter 3 Quarter

£1.2 million £0.7 million £1.5 million £0.9 million

Madame Co’s average quarterly spend on market research is:

Beautiful Buds plc is a company which grows plants that are sold to garden centres throughout the UK. Beautiful Buds plc has a new Managing Director who has proposed a merger with Green Gardens plc, a chain of garden centres selling a wide range of plants and other garden products.Green Gardens plc is currently one of the country’s largest plant and garden retailers, with a market share of approximately 12%. The vertical merger will result in one company owning a chain of garden centres as well as growing the plants which are sold in these retail outlets.Beautiful Buds plc currently has 124 employees. Its Managing Director is looking to make the business more efficient and is planning to change its organisational structure by removing two layers of management (see below). This change is planned before the proposed merger. The Managing Director believes that the tasks carried out by Middle Managers and Team Leaders can be effectively completed by employees either below or above them in the structure. The estimated redundancy costs due to the restructuring are £200 000.

Which one of the following is required by law?

Redrow Homes

Redrow Homes is one of the UK’s leading housebuilders. Housebuilders, such as Redrow Homes, typically use self-employed construction professionals alongside their own employees.Redrow Homes employs over 2 300 people in a range of jobs including trades such as carpentry, plumbing and bricklaying. They also employ landscape designers, customer service administrators and sales advisors to sell the houses. The company is committed to staff development, with 15% of the workforce undergoing an apprenticeship or other formal training programme.Redrow Homes has been named one of the ‘Top 100 Apprenticeship Employers’ for the last five years and was recently named the ‘Construction Industry Training Board Apprentice Employer of the Year’. At any one time the company employs at least 130 apprentices, as the company feels that it is an excellent way to find and develop young motivated staff. The company offers apprentices a clear career path whereby they gain qualifications alongside work experience and a good wage.

Which method is NOT A SUITABLE METHOD for Redrow Homes’ head office employees to use when communicating with staff working on one of its building sites

A national retailer intends to trial a new product in some of its stores. Which of the following is not a benefit of trialling the product?

The ‘objectives of a business’ are: