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  • Created by: kcford15
  • Created on: 09-05-14 16:10
What is a business?
An organisation whose purpose is to produce goods and services to meet the needs to customers.
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What is a supplier?
A business that sells products to another business.
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What is a customer?
A person or organisation that buys the product or service.
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What is a consumer?
The person that uses the product.
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What is primary research?
Collecting data that did not exist before.
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What is secondary research?
Collecting data that already exists.
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What is qualitative data?
Information about opinions, judgements and attitudes.
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What is quantitative data?
Data that can be expressed as numbers and statistically analysed.
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How does market mapping help businesses?
They help businesses to identify market segments and position their products through identifying gaps in the markets.
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What is a brand?
A brand is a named product that customers see as being different from other products, and that they can associate or identify with.
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What are the 4 taxes on small businesses?
Value added tax, income tax, national insurance contribution, corporation tax.
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What is income tax?
A tax on the income earned by workers and sole traders.
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Other cards in this set

Card 2


What is a supplier?


A business that sells products to another business.

Card 3


What is a customer?


Preview of the front of card 3

Card 4


What is a consumer?


Preview of the front of card 4

Card 5


What is primary research?


Preview of the front of card 5
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