1. what are extension strategies?
- strategies when selling
- these are used to try prevent sales going to decline e.g) developing a wider product range
- extensions to the building
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2. what is a buffer stock for?
- a buffer stock is a way of guaranteeing their is always stock in place but not too much of it, new stock will be delivered just as the old stock runs out.
- storage for the stock
- hygiene of the store
3. whats a just in time method?
- completing tasks just in time
- it prevents stock being run out as stock is arrived just in time as it need it
- turning up to work just in time
4. what is meant by branding
- being popular with the customers
- a product with a unique character that differentiates them for instance in design or image
- having a big company
5. what is break even?
- when your money is divided in the business
- this is when the revenue is equal to the costs
- the middle of your time owning a business
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