unit 3 building a business

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1. what is break even?

  • this is when the revenue is equal to the costs
  • the middle of your time owning a business
  • when your money is divided in the business
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2. what are the 4 P's of the marketing mix

  • price, print, peace, proud
  • product, price, promotion, place
  • product, play, print, pick
  • pick, pinch, promotion, play

3. what is the boston matrix for?

  • to give money to the business
  • this allows a business to see how successful there product is in terms of its market share and growth
  • to keep the business happy
  • to advertise business

4. variable costs

  • these are costs that do change with output
  • these are costs that stay the same
  • the cost of material

5. what is outflows in a business?

  • this is money going out a business such as wages and bills
  • money spent on the building of the business

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davidsalter

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A handy resource to check progress and make a change during a period of revision. Some of the questions are quite tricky and it will highlight areas that still need to be revised.

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