Section 1 0.0 / 5 ? Business StudiesSpotting a Business OpportunityGCSEEdexcel Created by: 10OdaviesCreated on: 18-07-14 10:43 Define: Business A buisness is an organisation which produces goods and services. 1 of 11 Define: Goods Physical products which people can touch and see. 2 of 11 Define: Service Non-physical services. 3 of 11 Define: A market A placxe in which buyers and sellers meet to exchange products and services. 4 of 11 Define: Customer Needs The wants and desires of buyers of a particular product or a business. 5 of 11 Define: Market Research The process of gaining information about customers, competititor and market trends through the collection of primary and secondary research. 6 of 11 Define: Primary Research The gathering of new information or information that has not been published. 7 of 11 Define: Secondary Research The process of gathering data which is information already been gathered or information that has been published. 8 of 11 Define: Survey Research involving asking question of people or organisation. 9 of 11 Define: Respondents Those who provide data for a survey usually by answering questions in a questionnaire or interview. 10 of 11 Define: Questionnaire A list of questions to be answered by respondents, designed to gather information about consumers' tastes. 11 of 11
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