Business Studies - Unit 1 Section 2

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What are teh four elements of the marketing mix?
Product, price, place and promotion.
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A business has to find the right balance in a marketing mix to ensure what?
The price is right, the product is attractive to potential customers, the product is better than those of it's competitors and information reaches it's target market.
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Apart from a literal product, what can the product element of a marketing mix relate to?
A service.
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What effects the quality of a product?
It's design or brand, it's appearance, special features, different types available and after sales service of the product.
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What is employment legislation?
Laws and and regulations that enforce standards on business about the way they treat their employees.
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Apart from the business, wwhat does employment legislation also enforce standards on?
The employees.
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What do start up businesses have to lear in terms of employer responsibilities?
Terms and conditions, disputes, trade union mebership, employer rights and health and safety.
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Name two laws regarding employees?
The Equal Pay Act 1970 and The National Minimum Wage Act 1998.
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What are the effects and draw backs of laws regarding employees for businesses?
Costs rise because businesses now have to pay minimum wage which could have an effect on the number of peopel a business employs.
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What are examples of discrimination employees might encunter?
Ethnicity, sex and sexual views.
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What does the equal pay act 1970 (amended in 1983 and 2004) state?
Both sexes should be paid the same for doing the same work.
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What does the National Minimum Wage Act 1998 state?
British employeess have a legal right to a minimum level of pay.
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Name 4 disctrimination laws?
Sex Discrimination Act, Race Relations Act, Disablity Discrimintion Act and Employment Equality Reguations.
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In regards to the sex discrimantion acts, what is it illegal to do when advertising for a post?
Appoint on the basis of an aplicants gender or offer different terms and conditions to woman than they do to men.
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What does the race relations act refer to?
Race, skin colur, nationality, and ethnic or national origin.
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What does the disability discrimintaion act mean businesses have to do?
Make reasonable adjustments o teh working conditions.
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When advertising for a job, what does teh emolyment eqyality (age) state businesses must not do?
State they require someone above or below a certain age.
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Can businesses sack or deny employess training opperunities because of their age?
No.
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How can businesss recognize motivation in employees?
Volunteering for overtime or to help others, commited and good at comunnicatin with others, those who request extra information on the business.
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What are four benefits to businesses of employees motivation?
Higher levels of productivity, quality work with fewer errors,good communication and prioritising of workload.
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Name two wy a small business can motivate?
Training and encouraging teamwork.
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How can business reward motivation?
Bonuses, making employees shareholders.
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What is conumer protection?
Customers are protected by lehislation, tehy protect the customer from being treated unfairly by a business.
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What four things do the consumer protection laws refer to?
Product safety, product labelling, sale of products and using information wrongly.
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Other cards in this set

Card 2

Front

A business has to find the right balance in a marketing mix to ensure what?

Back

The price is right, the product is attractive to potential customers, the product is better than those of it's competitors and information reaches it's target market.

Card 3

Front

Apart from a literal product, what can the product element of a marketing mix relate to?

Back

Preview of the front of card 3

Card 4

Front

What effects the quality of a product?

Back

Preview of the front of card 4

Card 5

Front

What is employment legislation?

Back

Preview of the front of card 5
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