definitions 0.0 / 5 ? Business StudiesUnit 3GCSEEdexcel Created by: xxemilyxxCreated on: 31-05-14 14:27 Product portfolio The range of products a business sells 1 of 20 Channels of distribution How the goods get from the producer to the consumer 2 of 20 Marketing strategy The 4 Ps - considering them all 3 of 20 Design mix Function, appearance, cost triangle 4 of 20 Benchmarking Trying to equal the quality standards set by another company 5 of 20 Sales of goods act Products must be fit for purpose and as described 6 of 20 Credit control Chasing up creditors who owe you money 7 of 20 Margin of safety Actual sales minus break-even sales 8 of 20 Export subsidy Money from the government given to companies to make exporting easier 9 of 20 Resource depletion e.g using up all the coal and oil in the world 10 of 20 Decentralised Lots of delegation, the boss trusts many subordinates 11 of 20 Centralised Not much delegation, the boss is in control 12 of 20 Stock market flotation Becoming a PLC, selling shares in your business to raise large amounts of finance 13 of 20 Equity Funds raised through selling shares in your business, often called share capital 14 of 20 Brand A clear identity to separate a product from its competitors 15 of 20 Flat rate Paid hourly - no incentive to work harder 16 of 20 Piece rate Paid according to production - may cause lower quality products 17 of 20 plc Public limited company -shares are on the stock exchange. Limited liability 18 of 20 Ltc Private limited company - shares only sold if all the shareholders agree. Limited liability 19 of 20 Sole trader easy to set up. Unlimited liability, long hours 20 of 20
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