Business Unit 1.1

Question 1

What is a supplier? Give some examples?

Answer 1

A business that sells (or supplies) products to another business e.g a flour delivery to a bakery

Question 2

What is the keyword?

“Any person or organisation which buys or is supplied with a product by another business”

Answer 2

Customer

Question 3

Name the 3 different types of sectors

Answer 3

Primary, Secondary and Tertiary

Question 4

Give some examples of customer needs

Answer 4

Value for Money
Disability Access
Good Quality
Safe Environment

Question 5

What is the keyword?

“The gathering of new information which has not been collected before. E.g Survey, focus group, interview”

Answer 5

Primary (or field) research

Question 6

What is the difference between a survey and a questionnaire?

Answer 6

Questionnaire – a written or printed set of questions used in gathering information from people.
Survey – a detailed study as by gathering information and analyzing it.

Question 7

What is the keywords?

“Those who provide data for a survey usually by answering questions in a questionnaire or interview.”

Answer 7

Respondants

Question 8

Unscramble the anagram and give a definition of the keyword!

“cofus pogru”

Answer 8

Focus Group

In market research, a group of people brought together to answer questions and discuss a product, brand or issue.

Question 9

What is Secondary (or desk) research?

Answer 9

Information that has already been gathered e.g sales records, government statistics, newspaper articles

Question 10

Qualitative or Quantitative data?

“Data that can be expressed as numbers and can be statistically analysed. E.g survey, sales data”

Answer 10

Quantitative

Question 11

Give a definition of Qualitative data

Answer 11

Information about opinions, judgements and attitudes. E.g interviews, focus groups, questionnaires

Question 12

Market Segmentation

Give a definition and what kind of chart can be used to represent this?

Answer 12

Part of a market that contains a group of buyers with similar buying habits, such as age or income.
Pie Chart

Question 13

Give some examples of being price sensitive

Answer 13

When the price is very important in the decision about whether or not to buy.

Question 14

What is a market map?

Answer 14

A diagram that shows the range of possible positions for two features of a product, such as low to high price and low to high quality.

Question 15

What is the Keyword?

“Occurs when no business is currently serving the needs of customers for a particular product.”

Answer 15

A Gap In The Market

Question 16

Unscramble the anagram and give the definition!

Tropudc Geran

Answer 16

Product Range - A group of similar products made by a business like a number of different soap products.

Question 17

What is a brand?

Answer 17

A named product which customers see as being different from other products and which they can associate or identify with.

Question 18

Give the keyword:
“The increase worth that a business creates for a product; it is the difference between what a business pays to its suppliers and the price that is able to charge for the product/ service.”

Answer 18

Added Value

Question 19

Whats the definition of Unique Selling Point/USP?

Answer 19

A characteristic of a product that make it different from other similar products being sold in the market such as design, quality or image.

Question 20

Whats a franchise and a franchisee?

Answer 20

Franchise The right given by one business to another to sell goods or services using its name.
Franchisee A business that agrees to manufacture, distribute or provide a branded product, under licence by a franchisor.

Question 21

Unscramble the world and give the definition!

Rochsirafn

Answer 21

Franchisor The business that gives franchisees the right to sell its product, in return for a fixed sum of money or a royalty payment.