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Decks in this class (63)
1.2.1 Demand (including factors affecting demand)
What is demand 1,
The law of demand 2,
What happens if the demand curve ...
23
cards
1.2.2 Supply (including factors affecting supply)
What is supply 1,
What is the law of supply 2,
Why does supply decrease when pri...
16
cards
1.2.3 Markets (The interaction of supply and demand)
What is the intersection of deman...,
What is the equilibrium 2,
What does the equilibrium mean in...
9
cards
1.2.3 Markets (The drawing and interpretation of supply and demand diagrams to show the causes and consequences of price changes )
What happens if the supply curve ...,
What happens if the supply curve ...,
What happens if the demand curve ...
4
cards
1.2.4 Price elasticity of demand (Calculation of price elasticity of demand)
What is price elasticity of demand 1,
What is the formula for price ela...
2
cards
1.2.4 Price elasticity of demand (Interpretation of numerical values of price elasticity of demand)
What is price elastic 1,
What is price inelastic 2,
What value corresponds to price e...
7
cards
1.2.4 Price elasticity of demand (The factors influencing price elasticity of demand)
What are the 4 factors that influ...,
What happens if there is fewer su...,
What happens if there is more sub...
9
cards
1.2.4 Price elasticity of demand (Calculation and interpretation of the relationship between price elasticity of demand and total revenue )
What happens to price elastic pro...,
What happens to price inelastic p...
2
cards
1.2.5 Income elasticity of demand (Calculation of income elasticity of demand )
What is income elasticity of dema...,
What is the formula of yed 2,
What does it mean if yed is posit...
4
cards
1.2.5 Income elasticity of demand (Interpretation of numerical values of income elasticity of demand )
What is the value for income inel...,
What is the value for income elas...,
What is it called when yed is bet...
18
cards
1.2.5 Income elasticity of demand (Factors influencing income elasticity of demand)
What three factors influence yed 1,
What do inferior goods have 2,
What do normal goods have 2
7
cards
1.4.1 Approaches to staffing (Staff as an asset; staff as a cost)
What is staff as an asset 1,
What does a good relation with em...,
What would the business try to do...
12
cards
1.4.1 Approaches to staffing (Flexible workforce
What is a flexible workforce 1,
What are 3 advantages of a flexib...,
What are 3 disadvantages of a fle...
14
cards
1.4.1 Approaches to staffing (Dismissal vs redundancy)
What is dismissal 1,
What may employees be given follo...,
What may businesses suffer from 3...
8
cards
1.4.1 Approaches to staffing (employee-employer relations)
Why do employees and employers ha...,
What should employee employer rel...,
What is the individual approach 3
11
cards
1.4.2 Recruitment, selection and training (Recruitment and selection process)
What is recruitment and selection 1,
How can internal recruitment be d...,
What are 3 disadvantages of inter...
8
cards
1.4.2 Recruitment, selection and training (Costs of recruitment, selection and training)
What are 3 direct financial costs...,
What are 2 indirect costs of recr...,
What are 2 opportunity costs of r...
12
cards
1.4.2 Recruitment, selection and training (Types of training)
What is induction training 1,
What are employees introduced to ...,
What are 2 advantages of inductio...
15
cards
1.4.3 Organisational design (structure)
What is an organisation structure 1,
What is a hierarchy 2,
Who is at the top of the hierarchy 3
25
cards
1.4.3 Organisational design (types of structure)
What is a tall structure 1,
How is communication in a tall st...,
What type of organisations typica...
9
cards
1.4.3 Organisational design (Impact of different organisational structures on business efficiency and motivation)
What are the advantages of tall s...,
What are the disadvantages of tal...,
What are the advantages of flat s...
6
cards
1.4.4 Motivation in theory and in practice (The importance of employee motivation to a business)
What is motivation 1,
What are the two types of motivat...,
How does motivation increase prod...
8
cards
1.4.4 Motivation in theory and in practice (Taylor’s Scientific Management theory)
What is taylor s theory and what ...,
What does taylor argue employees ...,
What does taylor argue employees ...
9
cards
1.4.4 Motivation in theory and in practice (Maslow’s hierarchy of needs)
What was maslow s theory and what...,
What are the 5 levels of needs un...,
What are physiolocial needs 3
9
cards
1.4.4 Motivation in theory and in practice (Herzberg’s Two Factor Theory)
What was herzberg s theory and wh...,
What are the two factor types und...,
What are hygiene factors 3
8
cards
1.4.4 Motivation in theory and in practice(Mayo's Human Relations Theory)
What did mayo report on 1,
What were the hawthorne studies 2,
What did mayo conclude from the s...
6
cards
1.4.4 Motivation in theory and in practice (Financial incentives to improve employee performance)
What is piece rate pay 1,
What is the biggest benefit of pi...,
What is the largets disadvantage ...
16
cards
1.4.4 Motivation in theory and in practice (Non-financial incentives to improve employee performance)
What is delegation 1,
What is the disadvantage of deleg...,
What is the advantage of delegati...
26
cards
1.4.5 Leadership (difference between Management and Leadership)
What does leadership focus on 1,
What is leadership concerned with 2,
What does leadership aim to 3
8
cards
1.4.5 Leadership (Types of leaderships)
What is an autocratic leadership ...,
What kind of decision making does...,
What kind of communication does a...
18
cards
1.1.1 Mass and Niche markets
What is a mass market 1,
What kind of products and service...,
What are mass market products sui...
13
cards
1.1.1 Market size and market share
What is market share 1,
What is market share a measure of 2,
How can market share be calculated 3
6
cards
1.1.1 Brands
What is a brand 1,
What do brands help consumers to ...,
What do strong brands create in c...
7
cards
1.1.1 Dynamic markets
What are dynamic markets 1,
How can markets change 2,
How does globalisation influence ...
9
cards
1.1.1 How competition affects the market
What is competition 1,
What are the two types of competi...,
How does competition impact price 3
11
cards
1.1.1 Risk and uncertainty
What is a risk 1,
What is uncertainty 2,
What may mass markets face more a...
7
cards
1.1.2 Product and market orientation
What is market orientation 1,
What is product orientation 2,
Why are most markets moving towar...
6
cards
1.1.2 Primary and secondary market research
What is market research 1,
What can market research be used ...,
What can market research help red...
19
cards
1.1.2 Quantitative and qualitative data
What is quantitative data 1,
What can quantitative data be use...,
What are examples of quantitative...
10
cards
1.1.2 Limitations of market research, sample size and bias
What are the limitations of marke...,
Why does sample size matter 2,
What market research practices le...
5
cards
1.1.2 Use of ICT to support market research
How can businesses use websites t...,
What is the advantage of using we...,
Why may websites not be as useful...
12
cards
1.1.2 Market segmentation
What is market segmentation 1,
What can market segmentation help...,
What is psychographic segmentation 3
15
cards
1.1.3 Market mapping
What is market mapping 1,
How are market maps created 2,
What is market positioning 3
9
cards
1.1.3 Competitive advantage of a product or service
What can market positioning help ...,
What happens if market positionin...,
How can a product gain advantage 2
5
cards
1.1.3 The purpose of product differentiation
What is differentiation 1,
How can differentiation be done t...,
How does differentiation support ...
5
cards
1.1.3 Adding value to products/services
What is adding value 1,
How can businesses add value 2,
What can added value help do 3
4
cards
1.3.1 Design Mix
What is meant by the design mix i...,
Why is a good design mix describe...,
Name the three main elements of t...
28
cards
1.3.1 Changes in the elements of the design mix to reflect social trends:
What social trends are pushing bu...,
How can responding positively to ...,
Give three examples of how busine...
33
cards
1.3.2 Types of promotion
What is meant by advertising in t...,
What is meant by direct marketing 2,
What is meant by sales promotions 3
50
cards
1.3.2 Types of branding
What is meant by corporate brandi...,
How does corporate branding reduc...,
How can corporate branding make l...
44
cards
1.3.2 Benefits of strong branding
What is meant by added value in t...,
How can strong branding affect ho...,
How does added value from brandin...
24
cards
1.3.2 Ways to build a brand
What is meant by a unique selling...,
How can usps help a business in a...,
Why might a usp not stay unique f...
40
cards
1.3.2 Changes in branding and promotion to reflect social trends
What is meant by viral marketing 1,
How can viral marketing achieve l...,
How does viral marketing help bui...
33
cards
1.3.3 Types of pricing strategies
What is meant by cost plus pricing 1,
What are two advantages of cost p...,
Why is cost plus pricing particul...
49
cards
1.3.3 Factors that determine the most appropriate pricing strategy for a particular situation
How does having many usps or a hi...,
Why does low differentiation push...,
Why might a strong usp still fail...
38
cards
1.3.3 Changes in pricing to reflect social trends:
What is meant by online sales in ...,
How does the rise of online sales...,
Why might online selling allow bu...
19
cards
1.3.4 Distribution channels
What is meant by direct distribut...,
How does direct distribution affe...,
Why is direct distribution useful...
49
cards
1.3.4 Changes in distribution to reflect social trends
What is meant by online distribut...,
How does online distribution exte...,
How can businesses use data from ...
20
cards
1.3.5 The Product Life Cycle
What happens to sales in the intr...,
What is the main aim of promotion...,
How might a business set price at...
23
cards
1.3.5 Extension strategies
What is the aim of extension stra...,
What is meant by product based ex...,
What is meant by product improvem...
28
cards
1.3.5 Boston Matrix and the product portfolio
What is meant by a product portfo...,
Why do most businesses sell more ...,
How does a strong product portfol...
41
cards
1.3.5 Marketing strategies appropriate for different types of market
What is a mass market 1,
What is one advantage of mass mar...,
How can mass marketing help reduc...
31
cards
1.3.5 Consumer behaviour – how businesses develop customer loyalty
What is customer loyalty 1,
Why are loyal customers valuable ...,
How does good customer service bu...
15
cards
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