unit 3 gcse business

Question 1

What are the 4 parts of marketing mix?

Answer 1

product price place promotion

Question 2

What are the 4 stages of the product life cycle?

Answer 2

introduction, growth, maturity and decline

Question 3

What does it mean if aa product is in decline?

Answer 3

it means that its sales are dropping

Question 4

What does it mean if a product is in its introduction stage?

Answer 4

sales are low as it has just been launchedbut growing, it may not be generating a profit for the company.

Question 5

What are the four squares in the Boston Matrix?

Answer 5

Question mark, dog, cash cow and star

Question 6

What square would have low sales and low growth on the Boston Matrix?

Answer 6

Dog- you should consider removing this product from the market.

Question 7

What square would have high sales and high growth on the Boston Matrix?

Answer 7

Star- this is a rising product

Question 8

What square would have high sales and low growth on the Boston Matrix?

Answer 8

Cash cow- these products generate a lot of income

Question 9

What square on the Boston Matrix would have low sales but high growth?

Answer 9

Question mark- this product may be high risk.

Question 10

What is branding?

Answer 10

creating a unique name and image for customers to recognise.

Question 11

What is minimum stock level in stock control?

Answer 11

it is the lowest point stock should get to.

Question 12

What is lead time in stock control?

Answer 12

it is the time delay between ordering stock and it arriving

Question 13

What are the costs of holding lots of stock?

Answer 13

costs of storage, costs of buying the stock, opportunity cost of not being able to buy something else, stock migh be perishable.

Question 14

On a stock control diagram what is the reorder level?

Answer 14

the number of units at which you should order more stock to avoid running out.

Question 15

What is a flat organisational structure?

Answer 15

it is a company structure that has a short chain of command, few layers

Question 16

What is a tall organisational structure?

Answer 16

a company structure that has lots of layers and a long chain of command.

Question 17

What is a Span of control?

Answer 17

it is the number of people under a managers direct control?

Question 18

What is delegation?

Answer 18

it is where you give responsibility for doing a job to someone else?

Question 19

What is a line of authority?

Answer 19

in a company structure it is the way that power flows from the top to the bottom

Question 20

What is a centralised organisation?

Answer 20

Where the authhority to make decisions is kept at Head Office

Question 21

What is a decentralised organisation?

Answer 21

Where the authority to make decisions is not held at head office, the company may not have a head office

Question 22

What is an example of verbal communication?

Answer 22

telephone conversation, meeting, interview, face to face discussion

Question 23

What is an example of non verbal communication?

Answer 23

body language, facial expressions, hand gestures

Question 24

What is an example of written communication?

Answer 24

Letters, faxes, texts, email, newspaper adverts, posters

Question 25

GIve an example of a formal method of communication

Answer 25

letter, interview, meeting

Question 26

Give an example of a informal type of communication.

Answer 26

memo, text

Question 27

What is a barrier to communication?

Answer 27

anything that stops information from getting through to someone for example background noise, complexity of information

Question 28

What would be an appropriate method of communication to let someone know they were being fired?

Answer 28

Letter or meeting