B.E Revision

HideShow resource information
  • Created by: Wardie123
  • Created on: 03-01-15 13:32
What is a brand?
A name, term or feature that identifies one seller's product from those of other sellers.
1 of 18
What can a brand image be established with?
Logos, symbols, colour, packaging, fonts, design, pictures, patterns, size, shape,image and slogans.
2 of 18
What makes a strong brand?
1) Customers find it easy to identify the product. 2) It encourages brand loyalty. 3) It makes it easy to launch new products. 4) Can be sold at a high price.
3 of 18
Competitive Markets have?
Lots of sellers. Similar prices. No one seller has market control.
4 of 18
Why do similar prices arise?
Because customers will switch to alternatives if the price of one goes up, sp businesses compete to attract customers with features other than price.
5 of 18
Non Price Competition?
1) Promotions (free gifts, competitions) 2) Advertising 3) Celebrity Endorsement 4) Loyalty Cards 5) Credit Terms 6) Free Delivery.
6 of 18
Shares?
Owning these mean the shareholder is a part owner of a company.
7 of 18
What is the stock market?
Where shares are bought and sold. The price of a share depends on economic factors as well as how successful the company is.
8 of 18
What are the benifits for shareholders?
1) Selling shares at a higher prices then when they were purchased at 2) Dividends (a share in the company's profits) are distributed
9 of 18
What is inflation?
A general and sustained rise in prices. Shown as a percentage. Low and steady is a good sign.
10 of 18
Unemployment?
Only counted is actively seeking work but not in work.
11 of 18
Balance of payments?
Surplus = exports > imports Deficit = imports > exports
12 of 18
What does GPD (Gross Domestic Product) do?
Measures the value of all the goods and services produced. ^ GPD means economic growth. GPD in two successive quarters means recession.
13 of 18
What is innovation?
When entrepreneurs turn ideas into goods or services to make profit. They coordinate the other 3 factors of production.
14 of 18
Characteristics of an Entrepreneur?
1) Determination 2) Confidence 3) Imaination 4) Assertiveness
15 of 18
Famous Scottish Entrepreneurs?
Ann Gloag, Tom Farmer and Duncan Bannatyne.
16 of 18
Factors of Production Enterprise? (Name 3)
1) Land (natural resources, eg oil, fish) 2)Labour (human resources eg joiner)
17 of 18
Factors of Production Enterprise? (Name 3)
3) Capital (man-made resources eg tools, machinery)
18 of 18

Other cards in this set

Card 2

Front

What can a brand image be established with?

Back

Logos, symbols, colour, packaging, fonts, design, pictures, patterns, size, shape,image and slogans.

Card 3

Front

What makes a strong brand?

Back

Preview of the front of card 3

Card 4

Front

Competitive Markets have?

Back

Preview of the front of card 4

Card 5

Front

Why do similar prices arise?

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar All resources:

See all All resources »See all B.E resources »