2nd mini assesment

Question 1

Multinational definition?

Answer 1

-a large business with significant production or service operations in at least two different countries

Question 2

Perks of multinationals?

Answer 2

• they can become well known, so they become familiar to many people around the world which helps retain existing and gain new customers
• large numbers of customers, as a result if selling their products in many different countries, they sell to more customers which increases sales, profits and market share

Question 3

Location benefits?

Answer 3

• can impact how profitable a business is

- affect the level of customer demand and level of sales

Question 4

Primary research?

Answer 4

-the gathering of new info that doesn’t already exist

Question 5

Secondary research?

Answer 5

-the collection of data that already exists

Question 6

Primary research advantages?

Answer 6

• info is up to date, leading to better business decisions

- specifically related to your business and so relevant

Question 7

Primary research disadvantages?

Answer 7

• time consuming and expensive to collect, new businesses may not have a lot of money
• you need to ask a large amounts of people to get accurate info

Question 8

Secondary research advantages?

Answer 8

• it can be collected quickly

- can provide info on large portions of the population

Question 9

Secondary research disadvantages?

Answer 9

• may not be specific to your business, so may not be relavant
• may be out of date and lead to bad decisions