Y9 Business Studies

1. Where the price of a product is determined by adding a percentage profit onto the costs incurred in making it.
5. The decisions made by a business regarding the prices they will charge.
8. The splitting up of a market into groups of consumers with similar characteristics.
9. The stages a product goes through in order to reach the end consumer, perhaps involving a wholesaler or retailer.
10. The factors which make up the marketing plan of a firm.
13. This method of research deals with peoples thoughts that make them purchase things, and is concerned with the quality of opinions.
14. Setting a price for a product or service based upon the price charged for similar goods and services by competitors.
15. The amount of money a business pays to make a product a service.
16. The precise profile of the customers that a firm wishes to sell to.
18. The gathering of first hand data that is tailor made to a firms own products, customers or markets.
19. A business which buys goods in bulk from manufacturers and then sells them to retailers in smaller quantities.
20. An identity that separates a product or group of products from other similar products.

2. Setting a price based on the expectations of the consumers.
3. A phrase that helps potential customers to remember a product.
4. Using pre-set questions with a large group of people to provide statistically valid data which can be analysed numerically.
6. A company whose business activity is selling products to consumers.
7. Gathering information that already exists about the market from other sources, for example government reports.
11. The amount of money a customer pays for a product or service.
12. A tool used to gain an overview of how a market is segmented.
17. Revenue (from selling a product or service) minus all the costs(money that a business has to spend to make a product/service) of a successful business.