Business Studies

Created by: Sophy Bignall
Created on: 06-05-13 12:25

Price

If there are several retailers, each retailer will lower the price in an attempt to win customers. It is illegal for retailers to agree between themselves to fix a price. They must compete for business.

1 of 6

Product Range

In order to attract and satisfy customers, companies need to produce products that are superior to their competitors

2 of 6

Customer Service

Retailers that provide customers with a helpful and friendly service will win their loyalty

3 of 6

Trade Descriptions Act

According to the Trade Descriptions Act, false or misleading information must not be given about products. For example, accurate information must be given about who made the product. Fake designer goods that are marketed as genuine are a clear breach

4 of 6

Sales and Supply of Goods Act

This Act says that all products have to be of a 'satisfactory quality'. This means that they have to: be safe last for a reasonable amount of time be fit for their intended purpose have nothing wrong with them (unless the defect was noted at the time

5 of 6

Consumer Credit Act

This Act protects you when you borrow or buy on credit. The Consumer Credit Act states that: Businesses must have licences to give credit. No one under 18 is to be invited to borrow or buy on credit. Businesses have to state an Annual Percentage Rate

6 of 6

Other cards in this set

Card 2

Front

Product Range

Back

In order to attract and satisfy customers, companies need to produce products that are superior to their competitors

Card 3

Front

Customer Service

Back

Card 4

Front

Trade Descriptions Act

Back

Card 5

Front

Sales and Supply of Goods Act

Back

View more cards

Similar Learning challenge resources:

See all Learning challenge resources »

Get Revising

Business Studies