business cards #2 0.0 / 5 ? Business StudiesMethods to grow a businessGCSEEdexcel Created by: beckychorltonCreated on: 03-03-14 15:23 qualitative data data that includes statements or words and opinions, judgements and attitudes 1 of 24 sampling choosing tho is the respondents, a fraction or segment of your customers that represent all of your customers 2 of 24 brand loyalty being loyal to a certain brand by not buying competitors products and only buying the one you're loyal too 3 of 24 market share the % of the market a business controls 4 of 24 cash flow movement of cash in and out of a business 5 of 24 cash inflow flows of cash into a business - for example revenue/ interest from investments 6 of 24 cash outflows flows of cash out of a business - loans and costs 7 of 24 liquitity the extent to which assets are held as cash or can be readily converted to cash 8 of 24 liquid assets the assets that are easiest to turn into cash 9 of 24 credit money borrowed or available for borrowing, it has interest rate and a repayment date 10 of 24 recession a phase in the business cycle when output and business confidence are falling and unemployment is rising 11 of 24 interest rates the cost of borrowing money expressed as a % of the amount borrowed, timescale and level of risk involved 12 of 24 investment putting funds to use into something with the expectation that a favorable return will come relative to the risk involved 13 of 24 business strategy overall plan a business has for itself 14 of 24 creditors individual/organisation to which money is owed 15 of 24 administration a temporary legal status for a business which is unable to pay its debts on time 16 of 24 consumer pricing being aware that consumers are only prepared to pay a certain amount for goods 17 of 24 penetration pricing setting the price low to gain market share and brand recognition 18 of 24 product line pricing establishing a single price for all products in the product line 19 of 24 captive produce pricing setting prices high when customers have no other choice of where they go 20 of 24 price skimming setting a high price to begin with and then lowering it over time 21 of 24 psychological pricing setting prices high so customers feel its the product is of higher value and quality 22 of 24 premium pricing setting prices high to attract a certain type of customer within a niche market 23 of 24 economy pricing setting prices low to attract a certain type of customer from the mass market 24 of 24
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