business 0.0 / 5 ? Business StudiesGCSEAQA Created by: sdfghjkl,.Created on: 01-05-13 08:37 Multinational Has subsidary companies in more than one country 1 of 14 ethical and environmental considerations how the business effects the world 2 of 14 social costs and benefits the costs or benefit to society e.g pollution is a cost but giving people jobs is a benefit 3 of 14 Global expansion Expanding in other countries 4 of 14 international markets More customers across the world 5 of 14 Product portfolio The range of different products your company has 6 of 14 Product life cycle The stages of the products life , RESEARCH AND DEVELOPMENT, INTRODUCTION, GROWTH, MATURITY, DECLINE 7 of 14 Extension strategies Ideas about how to extend the life of a mature product e.g advertise a new product 8 of 14 Price skimming Set a high price to start with then lower it 9 of 14 Penetration pricing Set a low price to start of with to get customers and then raise the price 10 of 14 Competitive pricing Set the price the same as other similair products 11 of 14 Loss leader Sell an item below the cost of production to attract customers 12 of 14 Direct selling Selling directly to the customer e.g website 13 of 14 Wholesaler The middle man who buys from the manafactuer and sells to the retailer 14 of 14
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