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What are the 4 p's in the marketing mix?
Price, place, promotion and product
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What is the purpose of a business?
To provide goods and services
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What is a supplier?
A business that sells products to another business
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What is production?
Using raw materials, labour and machinery to make products
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What is a customer?
A person or organisation that buys the product or service
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What is a consumer?
The person that uses the product
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What is a market?
This is where buyers and sellers meet to exchange goods and services
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What is primary research?
Collecting data that did not exist before eg a questionaire
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What is secondary research?
Collecting data that already exists eg internet research
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What is qualitative data?
Information about opinions, judgements and attitudes
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What is quantitative data?
Data that can be expressed as numbers and statistically analysed
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Give 2 advantages of primary research?
-More accurate and direct costumer contact
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Give 2 advantages of secondary research?
-More general and less time consuming
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Card 2

Front

What is the purpose of a business?

Back

To provide goods and services

Card 3

Front

What is a supplier?

Back

Preview of the front of card 3

Card 4

Front

What is production?

Back

Preview of the front of card 4

Card 5

Front

What is a customer?

Back

Preview of the front of card 5
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