Learn 0.0 / 5 ? Business StudiesUnit 1GCSEEdexcel Created by: laurenwaller98Created on: 08-04-14 14:51 What are the 4 p's in the marketing mix? Price, place, promotion and product 1 of 13 What is the purpose of a business? To provide goods and services 2 of 13 What is a supplier? A business that sells products to another business 3 of 13 What is production? Using raw materials, labour and machinery to make products 4 of 13 What is a customer? A person or organisation that buys the product or service 5 of 13 What is a consumer? The person that uses the product 6 of 13 What is a market? This is where buyers and sellers meet to exchange goods and services 7 of 13 What is primary research? Collecting data that did not exist before eg a questionaire 8 of 13 What is secondary research? Collecting data that already exists eg internet research 9 of 13 What is qualitative data? Information about opinions, judgements and attitudes 10 of 13 What is quantitative data? Data that can be expressed as numbers and statistically analysed 11 of 13 Give 2 advantages of primary research? -More accurate and direct costumer contact 12 of 13 Give 2 advantages of secondary research? -More general and less time consuming 13 of 13
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