1. 3. Where a small number of possible customers are chosen to take part in market research
  2. 5. A document summarising the personal details, qualifications and experiences of an individual; often used to apply for a job.
  3. 6. Following up a customer to make sure they are happy with the product or service purchased
  4. 8. The direct costs of generating production, such as raw materials
  5. 9. The percentage profit made after all costs and expenses have been deducted; net profit/sales revenue x 100
  6. 12. Graphical representation of costs and revenue for a business’s product to show the breakeven output
  7. 14. The difference between revenue and cost of sales; gross profit = total revenue – cost of sales
  8. 15. Where two businesses of equal size are joined together
  9. 18. Point of sale methods that persuades customers to buy a product
  10. 22. Expansion from within a business by expanding the range of products and/or locations
  11. 23. Where work, but not responsibility for the work, is given to another person
  1. 1. Results of research that is based on opinions, attitudes and beliefs
  2. 2. An online brochure for a business that is available through the internet; it can include links to other services such as sales
  3. 4. The business which runs a franchise in a specific territory or area
  4. 7. The most common kind of limited company in the UK, where shares can only be sold to “family and friends”
  5. 10. Stock that is being used or held within a business
  6. 11. Methods of making a consumer aware of a product and persuading them to buy it; includes advertising, sales promotion and public relations
  7. 13. A process a business undertakes to attract new or replacement workers
  8. 16. The possibility that a business may not be successful
  9. 17. Legal constraints that protect the employees of a business from unfair business practice
  10. 19. Where a business acquires the right to use the name and products of another business
  11. 20. An organisation set up to meet customer demand and to make a profit for its owners
  12. 21. Where the organisational structure of a business has few layers, short chains of command and wide spans of control
  13. 22. The total quantity produced by a business, employee or machine over a given period of time