Business Studies Unit 3: Building a Business

Key Points for Unit 3 Business Studies GCSE

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Marketing 1

Market Research

Primary: research carried out by company itself

Secondary: research done by someone outside of company

Qualitative and Quantitative Research - Qualitative is in-depth research, longer answers. Quantitative is more numerical, statistics etc.

Product Trial and Repeat Purchase

Trial - getting people to buy for the first time

Repeat - moving customers on from trial to loyalty - essential for success

Product Life Cycle

Introduction --> Growth --> Maturity --> Decline

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Marketing 2

The Boston Matrix

Rising Stars, Cash Cows, Problem Child, Dogs

Product Differentiation

Makes customers feel that there is a range to choose from

Building a successful marketing mix

The right product, right price, right place and right promotion

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hmm, useless


its helpful for a reminder...:)


theres hardly info on there

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