cycle 1 business - two year course

Name:

Tutor:

Aspire Achieve Thrive| |

Cycle 1

Business - Two Year CourseYear 10

Business Cycle 1 - Year 10 Two Year Course

Week / Date Homework Task Exam Question

Week 1 September 6th

Cornell Notes on: The importance of Customer needs and how businesses can meet them.

Question 1:

Explain one benefit to a small business of understanding customer needs. (3)


Revision cards on Customer Needs

Question 2:

Explain why customer service is important in meeting customer needs (3)


Cornell Notes on: The different methods of market research, advantages and disadvantages. Market segmentation and examples of how businesses meet these.

Question 3:

Explain one advantage to a small business of using secondary market research rather than primary market research (3)


Revision cards on Market Research

Question 4:

Explain one way in which social media can be used to collect market research data. (3)

Week 5 October 4th

Cornell Notes on: The competitive environment and how this impacts the business decision making on things such as price charged, location and product.

Question 5:

Explain one reason why a business might develop high quality products (3)

Week 6 October 11th

Revision cards on Competitive market

Question 6:

Explain one impact on a small business of operating in a competitive environment. (3)

Week 7 and 8 October 18th - November 1st

Revision: Cornell Notes / Mind map / Revision cards

Revision

Week 9 November 8th

Plug the gaps

Wee

kKe

y Kn

owle

dge

–4

fact

ors

Cont

extu

al I

nfor

mat

ion

1 &

2

1.2

Cust

omer

ne

eds

Pric

e –

Beat

ing

a co

mpe

titor

s pric

e on

sa

me

good

/ser

vice

Conv

enie

nce

–A c

ompl

ete

mea

l tha

t can

be

mic

row

aved

in

min

utes

•Al

di a

nd Li

dl m

eet c

usto

mer

nee

ds b

y of

ferin

g lo

w p

rice

groc

erie

s•

Dyso

n m

eet c

usto

mer

s nee

ds b

y of

ferin

g hi

gh q

ualit

y pr

oduc

ts•

Serv

ice

stat

ions

mee

t the

nee

ds o

f the

ir cu

stom

ers b

y pl

acin

g th

emse

lves

of

the

maj

or ro

ads i

n th

e UK

to m

ake

trav

ellin

g ea

sier

•Cu

rrys

PC W

orld

mee

t the

nee

ds o

f the

ir cu

stom

ers b

y of

ferin

g al

l kin

ds o

f el

ectr

onic

equ

ipm

ent a

nd h

ouse

hold

app

lianc

es

Qua

lity

-A

man

ufac

ture

r usin

g th

e be

st

mat

eria

lsRa

nge

–A

supe

rmar

ket t

hat

offe

rs e

very

1.2

Mar

ket

Rese

arch

Prim

ary

-Co

llect

ing

info

rmat

ion

that

did

not

exi

st b

efor

e.

This

will

be

com

plet

ing

up to

dat

e an

d re

leva

nt to

the

busin

ess.

Exam

ple;

Que

stio

nnai

res,

Focu

s gro

ups,

Surv

eys

Qua

litat

ive

–Q

uest

ions

that

pro

duce

data

ab

out w

hat p

eopl

e th

ink

and

feel

. Ope

n qu

estio

ns th

at g

et m

ore

deta

iled

resp

onse

s

The

purp

ose

of re

sear

ch is

to;

•Id

entif

y ga

ps in

the

mar

ket

•Id

entif

y cu

stom

er n

eeds

•Id

entif

y an

d un

ders

tand

com

petit

ors

•Un

ders

tand

cus

tom

er o

pini

on o

f a b

usin

ess

Man

y bu

sine

sses

fail

as th

ey d

o no

t un

ders

tand

the

mar

ket o

rthe

ir c

usto

mer

ne

eds.

Seco

ndar

y –

Gath

erin

g da

ta th

at a

lread

y ex

ists a

bout

the

mar

ket o

r oth

er b

usin

esse

s in

the

mar

ket.

Exam

ple;

Mar

ket r

epor

ts, S

ales

dat

a, in

tern

et, g

over

nmen

t rep

orts

Qua

ntita

tive

–Q

uest

ions

that

pro

duce

nu

mer

ical

data

like

am

ount

s or p

erce

ntag

es.

Clos

ed q

uest

ion

that

pro

duce

yes

or n

o an

swer

s

Busi

ness

Stu

dies

Y

10

Kno

wle

dge

Org

anis

er

1.1

/ 1

.2/

1.3

/ 1.

4

1 &

2Ke

y Kn

owle

dge

–4

fact

ors

Key

term

sCo

ntex

tual

Info

rmat

ion

Mar

ket

segm

enta

tion

Inco

me

-Ho

w m

uch

mon

ey p

eopl

e ea

rn. E

xam

ple,

bus

ines

ses w

ill

prod

uce

prod

ucts

that

targ

et p

eopl

e w

ith li

ttle

mon

ey (P

ound

land

) or

lots

of m

oney

(Rol

ex)

Diff

eren

tiate

–A

prod

uct o

r ser

vice

th

at st

ands

out

from

oth

ersM

akin

g so

met

hing

uni

que

or e

xcep

tiona

l

Mar

ket s

egm

enta

tion

allo

ws

a bu

sine

ss to

de

sign

its

prod

uct r

ange

or s

ervi

ces

to c

ater

for

the

peop

le th

at it

hop

esw

ill b

ecom

e its

cu

stom

ers.

*Din

kys

Play

Caf

é –

inst

alle

d a

soft

pla

y ar

ea

for t

oddl

ers,

it a

lso

offe

red

a ra

nge

of c

hild

fr

iend

ly h

ealth

y sn

acks

. In

its to

ilets

it in

stal

led

low

er le

vel s

inks

and

a n

appy

cha

ngin

g st

atio

n.

It a

lso

offe

red

besp

oke

birt

hday

pac

kage

s.

Und

erst

andi

ng it

s ta

rget

mar

ket w

as k

ey to

m

akin

g th

em h

appy

Dem

ogra

phic

–In

clud

es g

ende

r and

fam

ily ty

pe (s

ingl

e, m

arrie

det

c.)

Life

styl

e–

The

thin

gs p

eopl

e lik

e to

do

and

buy.

For

exam

ple,

Ha

lford

s app

eal t

o pe

ople

who

cyc

ling

and

B a

nd Q

app

eal t

o pe

ople

w

ho li

ke to

do

thin

gs in

the

hous

e an

d ga

rden

Targ

etm

arke

t –a

grou

p of

peo

ple

that

bus

ines

s has

reco

gnise

d as

po

tent

ial c

usto

mer

s

Loca

tion

–Bu

sines

s who

wan

t to

appe

al to

regi

onal

tast

es o

r bu

sines

ses t

hat r

ecog

nise

an

area

is a

fflue

nt so

they

sell

high

qua

lity

prod

ucts

ther

e.

Inno

vatio

n –

A ne

w id

ea o

r cre

ativ

e so

lutio

n

1 &

2Ke

yKn

owle

dge

Mar

ketM

ap

Mar

ket m

aps

Mar

ket M

appi

ng –

A di

agra

m th

at c

an b

e us

ed to

pos

ition

two

prod

ucts

usin

g tw

o va

riabl

es(o

ften

qual

ity

and

pric

e). T

his a

llow

s ent

repr

eneu

rs o

r bus

ines

ses t

o sp

ot p

oten

tial g

aps i

n th

e m

arke

t or p

lace

s with

less

co

mpe

titio

n.

Qua

lity

–Ex

ampl

es o

f diff

eren

t qua

lity

prod

ucts

inch

ocol

ate

are

show

n on

the

diag

ram

from

top

to b

otto

m.

Gree

n an

d Bl

acks

are

con

sider

ed h

igh

qual

ity w

ith K

inde

r egg

low

qua

lity

Pric

e –

Exam

ples

of d

iffer

ent p

riced

cho

cola

te is

show

n fr

om le

ft to

righ

t. Tw

ix is

a lo

w p

riced

cho

cola

tean

d Di

vine

is q

uite

exp

ensiv

e.

Wee

kKe

y Kn

owle

dge

Key

term

s

3 &

4

Com

petit

ive

mar

ket

Com

petit

ive

envi

ronm

ent –

Mos

t bu

sine

sses

ope

rate

in a

com

peti

tive

en

viro

nmen

t. C

onsu

mer

s of

ten

have

lots

of c

hoic

e as

to

whe

re t

hey

can

buy

thei

r pr

oduc

ts fr

om a

nd t

he o

ptio

n of

alt

erna

te b

rand

s.

Dire

ct co

mpe

titor

s –Bu

sine

sses

tha

t of

fer

the

sam

e pr

oduc

ts. F

or e

xam

ple

Burg

erki

ng a

nd M

cDon

alds

Indi

rect

com

petit

ors –

Busi

ness

es t

hat

do n

ot o

ffer

the

sam

e pr

oduc

t or

se

rvic

e bu

t gi

ve t

he c

onsu

mer

an

alte

rnat

e op

tion

. For

exa

mpl

e a

bus

or a

tr

ain

Non

-com

petit

ive

envi

ronm

ent -

Som

e bu

sine

sses

ope

rate

in a

mar

ket

wit

h lit

tle

com

peti

tion

. Thi

s is

som

etim

es b

ecau

se t

hey

offe

r so

met

hing

ver

y un

ique

or

excl

usiv

e an

d is

som

etim

es b

ecau

se o

f the

ir lo

cati

on.

Pric

e w

ar –

Whe

n bu

sine

sses

low

er t

heir

pri

ces

to fi

ght

for

cust

omer

s. T

his

ofte

n re

sult

s in

the

com

peti

tors

low

erin

g th

eir

pric

es

3 &

4Ke

y Kn

owle

dge

-4

area

s of S

WO

TKe

y te

rms

SWO

TAn

alys

is

Stre

ngth

–W

hat

is g

ood

abou

t a

busi

ness

, wha

t do

es it

do

wel

lW

eakn

ess -

Wha

t ar

e th

e ar

eas

for

deve

lopm

ent

wit

hin

a bu

sine

ss, w

here

ha

s it

got

thi

ng w

rong

Com

petit

ive

mar

ket –

Whe

re t

here

are

lots

of b

usin

esse

s of

feri

ng t

he

sam

e or

sim

ilar

prod

ucts

or

serv

ices

Opp

ortu

nity

–W

hat

are

the

thin

gs

that

cus

tom

ers

may

wan

t th

at t

he

busi

ness

doe

s no

t ye

t of

fer

Thre

ats –

Who

are

the

big

gest

co

mpe

tito

rs, w

hat

is h

appe

ning

ext

erna

l in

the

eco

nom

y

Com

petit

ive

adva

ntag

e –

whe

n a

com

pany

cre

ates

a pr

oduc

t or

ser

vice

th

at is

sig

nific

antl

y di

ffer

ent

or b

ette

r or

whe

n th

ey c

reat

e a

high

ly t

rust

ed

bran

d.

Busi

ness

Stu

dies

Y

10

Kno

wle

dge

Org

anis

er

1.1

/ 1

.2/

1.3

/ 1.

4

Wee

kKe

y Kn

owle

dge

Key

term

sCo

ntex

tual

inf

orm

atio

n

3&

4

Sole

trad

ers

Adva

ntag

esDi

sadv

anta

ges

Unl

imite

d lia

bilit

y –

If t

he b

usin

ess

cann

ot r

epay

its

debt

s th

en

the

owne

rs p

erso

nal p

osse

ssio

ns a

re a

t ri

skA

Sole

trad

er b

usin

ess

is

perf

ect f

or a

star

t up.

It is

eas

y an

d ch

eap

to se

t up

with

litt

le

pape

rwor

k to

man

age.

If a

sm

all b

usin

ess i

s not

inte

ndin

g to

get

into

deb

t the

re is

litt

le

reas

on to

cons

ider

bei

ng a

lim

ited

com

pany

Ow

ners

mak

e al

l the

de

cisi

ons

Unl

imit

ed li

abili

tyU

ninc

orpo

rate

d –

A b

usin

ess

that

doe

s no

t ha

ve it

s ow

n se

para

te le

gal i

dent

ity

Ow

ners

kee

p al

l the

pr

ofit

sBa

nks

are

less

like

ly t

o le

nd

Asse

ts –

The

thin

gs t

hat

a bu

sine

ss o

wns

. For

exa

mpl

e;

Mac

hine

ry, b

uild

ings

, veh

icle

sFi

nanc

iali

nfor

mat

ion

kept

pri

vate

Lots

of p

ress

ure

due

to b

eing

so

lely

res

pons

ible

3 &

4Ke

y Kn

owle

dge

–tw

o ty

pes

Key

term

sCo

ntex

tual

info

rmat

ion

Part

ners

hip

Adva

ntag

esDi

sadv

anta

ges

Deed

of p

artn

ersh

ip –

A le

gal a

gree

men

t dr

awn

up b

etw

een

part

ners

. Out

lines

sha

re o

f bus

ines

s, r

espo

nsib

iliti

es,s

hare

of

prof

its

A pa

rtne

rshi

p ca

n gi

ve

entr

epre

neur

s mor

eop

port

unity

for g

row

th

thro

ugh

capi

tal i

nves

tmen

t and

sh

ared

skill

s and

idea

s. A

pa

rtne

rshi

p ag

reem

ent i

s an

impo

rtan

t con

side

ratio

n to

av

oid

conf

lict

Shar

ed e

xper

tise

Unl

imit

edlia

bilit

y

Part

ners

have

con

trol

Co

nflic

t be

twee

n pa

rtne

rsEx

pert

ise

–Sk

ills

that

diff

eren

t en

trep

rene

urs

brin

g to

the

bu

sine

ss. T

hese

may

be t

echn

ical

ski

lls li

ke IT

or

soft

ski

lls li

ke

good

com

mun

icat

ors

Mor

e ca

pita

l inv

este

dSh

are

the

prof

its

Wee

kKe

y Kn

owle

dge

–4

fact

ors

Key

term

sCo

ntex

tual

info

rmat

ion

5&

6

LTD’

s

Adva

ntag

esDi

sadv

anta

ges

Lim

ited

liabi

lity

–O

nly

the

bu

sin

ess

ass

ets

can

be

so

ld t

o m

ee

t

the

de

bts

of

a b

usi

ne

ss. T

he

ow

ne

rs p

ers

on

al a

sse

ts a

re

pro

tect

ed

If an

ent

repr

eneu

r or a

bu

sine

ssar

e co

nsid

erin

g bo

rrow

ing

to st

art u

p or

ex

pand

then

lim

ited

liabi

lity

will

be

the

safe

st o

ptio

n

Lim

ite

d li

abili

tyE

xpe

nsi

ve t

o s

et

up

an

d r

un

Com

pani

es h

ouse

–T

he

org

anis

atio

n t

hat

a L

TD

mu

st r

egi

ste

r

wit

h w

he

n it

be

com

es

inco

rpo

rate

d. T

he

pla

ce w

he

re y

ou

will

fin

d t

he

fin

anci

alin

form

atio

n a

bo

ut

limit

ed

co

mp

anie

s

Ban

ks a

re m

ore

like

ly t

o

len

d

Fin

anci

al in

form

atio

n is

shar

ed

Inco

rpor

ated

–A

bu

sin

ess

wh

ich

has

its

on

ly le

gal i

de

nti

ty

Shar

ehol

der –

A p

ers

on

/pe

op

le t

hat

ow

n a

lim

ite

dco

mp

any

5 &

6Ke

yKn

owle

dge

Key

term

sCo

ntex

tual

info

rmat

ion

Fran

chis

es

Adva

ntag

esDi

sadv

anta

ges

Fran

chis

ee –

An

en

tre

pre

ne

ur

wh

o p

ays

for

the

lega

l rig

ht

to

op

era

te u

nd

er

ano

the

r b

usi

ne

sse

s tr

adin

g n

ame

& b

usi

ne

ss

mo

de

l

Succ

ess i

s not

gua

rant

eed

but

mor

e lik

ely

with

a fr

anch

ise.

The

mod

el m

ust b

e su

cces

sful

to

be

repl

icat

ed a

nd a

wel

l kn

own

bran

d w

ill m

ean

cust

omer

s str

aigh

t aw

ay

We

ll kn

ow

n b

ran

d,

succ

ess

ful b

usi

ne

ss

mo

de

l

Fran

chis

es

are

exp

en

sive

to

set

up

by

com

par

iso

n t

o

ind

ep

en

de

nt

bu

sin

ess

es.

Fr

anch

isor

–A

bu

sin

ess

th

at s

ells

the

rig

ht

to a

no

the

r

bu

sin

ess

/en

tre

pre

ne

ur

to o

pe

rate

un

de

r an

oth

er

bu

sin

ess

es

trad

ing

nam

e a

nd

bu

sin

ess

mo

de

lSu

pp

ort

an

d t

rain

ing

En

tre

pre

ne

ur

can

no

t m

ake

the

ir o

wn

de

cisi

on

sRo

yalti

es –

A p

aym

en

t m

ade

by

the

fra

nch

ise

e t

o t

he

fra

nch

iso

r

fro

m t

he

pro

fits

of

the

fra

nch

ise

Nat

ion

al a

dve

rtis

ing

Bra

nd

re

pu

tati

on

can

be

dam

age

d b

y o

the

r fr

anch

ise

s

5 &

6Ke

y Kn

owle

dge

Key

term

sCo

ntex

tual

info

rmat

ion

Loca

tion

Mar

ket–

Pro

xim

ity

tocu

sto

me

rs t

hat

th

e b

usi

ne

ss is

targ

eti

ng

Bulk

redu

cing

pro

duct

–W

he

reth

e e

nd

pro

du

ct is

smal

ler

tan

th

e r

aw m

ate

rial

use

d t

o m

ake

it. F

or

exa

mp

le a

bu

rge

r fa

cto

ry w

ou

ld n

ot

wan

t a

wh

ole

cow

just

th

e m

eat

th

at it

inte

nd

s to

use

in t

he

bu

rge

rs

Reta

il bu

sine

sses

will

loca

tene

ar to

thei

r cu

stom

ers a

nd o

ften

thei

r com

petit

ors b

y pl

acin

g th

eir

busi

ness

in a

tow

n ce

ntre

or

on a

reta

il pa

rk.

*Man

ufac

ture

rs w

ill lo

cate

clos

e to

su

pplie

rs to

redu

ce tr

ansp

orta

tion

cost

sBu

sine

sses

that

nee

d sk

illed

wor

kers

will

lo

cate

in a

n ar

ea w

here

they

can

fill

the

skill

ed p

ositi

ons.

For

exa

mpl

e Si

licon

e va

lley

in C

alifo

rnia

wou

ld b

e pe

rfec

t for

a n

ew te

ch

busi

ness

Com

petit

ion

–P

roxi

mit

y to

th

e B

usi

ne

sse

s th

at a

re in

dir

ect

or

ind

ire

ct c

om

pe

titi

on

Supp

liers

–P

roxi

mit

y to

th

e r

eso

urc

es

that

a b

usi

ne

ss

ne

ed

s to

op

era

te

Bulk

gai

ning

pro

duct

–W

he

reth

e e

nd

pro

du

ct is

larg

er

that

th

e r

aw m

ate

rial

s. F

or

exa

mp

le a

car

. A

car

man

ufa

ctu

rer

that

so

ld c

ar in

th

e U

K m

any

fro

m E

uro

pe

an p

arts

wo

uld

mak

e t

he

car

in t

he

UK

and

sh

ip t

he

par

tsEm

ploy

ees–

Pro

xim

ity

to t

he

wo

rkfo

rce

ne

ed

ed

fo

r th

e

bu

sin

ess

to

op

era

te

Busi

ness

Stu

dies

Y

10

Kno

wle

dge

Org

anis

er

1.1

/ 1

.2/

1.3

/ 1.

4

Wee

kKe

y Kn

owle

dge

-Th

ings

in a

bus

ines

s pl

anKe

y te

rms

Cont

extu

al in

form

atio

n

5&

6

Bus

ines

s pl

ans

Fina

ncia

l aim

sN

on fi

nanc

ial a

ims

Obj

ecti

ve –

An

incr

emen

tal s

tep

to h

elp

a bu

sine

ss a

chie

ve a

n A

im.

Aim

s an

d ob

ject

ives

will

cha

nge

over

tim

e an

d de

pend

ing

on t

he s

ize

of a

bus

ines

s. A

ne

w b

usin

ess

will

wan

t to

sur

vive

in it

s fi

rst

year

whe

reas

an

esta

blis

hed

busi

ness

w

ill w

ant

to m

ake

a pr

ofit

and

gro

wth

.

A s

mal

l bus

ines

s m

ight

be

focu

sed

on

prof

it w

here

as

a la

rge

busi

ness

mig

ht

wan

t to

incr

ease

mar

ket

shar

e or

mov

e in

to n

ew m

arke

ts

Surv

ival

Sati

sfac

tion

Prof

itCh

alle

nge

SMA

RT

–Sp

ecifi

c/M

easu

rabl

e/A

chie

vabl

e/R

ealis

tic/

Tim

e bo

und

Gro

wth

Co

ntro

lSo

cial

ent

erpr

ise

–A

bus

ines

s se

t up

to

supp

ort

a so

cial

or

com

mun

ity

need

Bus

ines

s id

ea –

An

outl

ine

of t

he b

usin

ess

conc

ept

Cash

flow

-A

pre

dict

ion

of e

xpec

ted

inflo

ws

and

outf

low

s of

the

bus

ines

s.

Targ

et m

arke

t –

The

cust

omer

s w

ho t

he p

rodu

ct/s

ervi

ce is

tar

geti

ngFi

nanc

e –

How

the

pro

ject

will

be

fund

ed. F

or e

xam

ple

inve

stm

ent

or p

erso

nal

savi

ngs.

The

bus

ines

s m

ay a

lso

need

a lo

an fr

om t

he b

ank

Fore

cast

for

reve

nue,

cos

t an

d pr

ofit

–Ev

iden

ce o

f res

earc

h th

at h

elps

th

e en

trep

rene

ur p

redi

ct e

xpec

ted

sale

s an

d co

sts

duri

ng t

he fi

rst

year

Loca

tion

–W

here

the

bus

ines

s w

ill b

e si

tuat

ed o

r ho

wth

e cu

stom

er w

ill a

cces

s th

e pr

oduc

t or

ser

vice

. For

exa

mpl

e; a

sho

p in

the

hig

h st

reet

or

onlin

e

Mar

keti

ng m

ix –

Det

ails

of t

he 4

p’s

and

how

the

busi

ness

exp

ects

the

m

to w

ork

toge

ther

to

mak

e th

e bu

sine

ss s

ucce

ssfu

lA

ims

and

obje

ctiv

es –

The

visi

on a

ndex

pect

atio

ns o

f the

bus

ines

s fo

r th

e fir

stye

ar a

nd b

eyon

d. F

or e

xam

ple

surv

ival

Wee

k 7

& 8

Rev

ise

all

Wee

k 9

Plug

the

gap

s

Bus

ines

s St

udie

s

Y10

K

now

ledg

e O

rgan

iser

1

.1 /

1.2

/ 1.

3 /

1.4

Date…………………………………………….

Question Title………………………………………………………………………………………....…

…………………………………………………………………………………………………………...

Answer:

WEEK 1

Date…………………………………………….

Question Title………………………………………………………………………………………....…

…………………………………………………………………………………………………………...

Answer:

WEEK 2

Date…………………………………………….

Question Title………………………………………………………………………………………....…

…………………………………………………………………………………………………………...

Answer:

WEEK 3

Date…………………………………………….

Question Title………………………………………………………………………………………....…

…………………………………………………………………………………………………………...

Answer:

WEEK 4

Date…………………………………………….

Question Title………………………………………………………………………………………....…

…………………………………………………………………………………………………………...

Answer:

WEEK 5

Date…………………………………………….

Question Title………………………………………………………………………………………....…

…………………………………………………………………………………………………………...

Answer:

WEEK 6

STEP 1: RECORD YOUR NOTES

What: Record all keywords, ideas, important dates, people, places, diagramsand formulas from the lesson. Create a new page for each topic discussed.

When: During class lecture, discussion, or reading session.

How: • Use bullet points, abbreviated phrases, and pictures • Avoid full sentences and paragraphs • Leave space between points to add more information later

Why: Important ideas must be recorded in a way that is meaningful to you.

STEP 2:

What: Reduce your notes to just the essentials.

What: Immediately after class, discussion, or reading session.

How: • Jot down key ideas,

important words and phrases

• Create questions that might appear on an exam

• Reducing your notes to the most important ideas and concepts improves recall.

Creating questions that may appear on an exam gets you thinking about how the information might be applied and improves your performance on the exam.

Why: Spend at least ten minutes every week reviewing all of your previous notes. Reflect on the material and ask yourself questions based on what you’ve recorded in the Cue area. Cover the note-taking area with a piece of paper. Can you answer them?

CREATECUES

STEP 3: SUMMARISE & REVIEW

What: Summarise the main ideas from the lesson.

What: At the end of the class lecture, discussion, or reading session.

How: In complete sentences, write down the conclusions that can be made from the information in your notes.

Why: Summarising the information after it’s learned improves long-term retention.

Date / / Topic

Questions Notes

Summary

Date / / Topic

Questions Notes

Summary

WEEK 1

Date / / Topic

Questions Notes

Summary

Date / / Topic

Questions Notes

Summary

WEEK 3

Date / / Topic

Questions Notes

Summary

Date / / Topic

Questions Notes

Summary

WEEK 5

Revision Page

Revision Card on xxxxx

1

Answers


1

Answers


1

Answers

……………………………………………………………………………………………………………………………………………………

Revision Card on Customer Needs

1. How many customer needs are there? 2. Why is it important to meet customer needs? 3. Explain one customer need that a business

must consider? 4. How is quality linked to customer service? 5. Give one benefit of using the internet for

buying goods online? 6. How important is choice to consumers? 7. A customer need is convenience, explain what

this means for the customer.

Answers

…………………………………………………………………………………………………………………………………………………...

Revision Card on Market Research

1. Define market research 2. How many types of market research are there? 3. Identify two methods of research that a

business can use to find out what customers needs and wants are.

4. What is the purpose of market research? 5. Give a benefit of a focus group for market

research 6. Define target market 7. Discuss the advantages to a business of using

primary research

Answers

……………………………………………………………………………………………………………………………………………………

Revision Card on Competitive Market

1. There are two different types of data, name them 2. What is the purpose of completing a market map? 3. Name the two types of competitors, name them

both 4. One benefit of a business using a market map 5. What does S.W.O.T stand for? 6. Describe the difference between primary and

secondary research 7. Discuss the ways in which a small business could

segment its market.

Answers

……………………………………………………………………………………………………………………………………………………






Answers

…………………………………………………………………………………………………………………………………………………...






primary research

Answers

……………………………………………………………………………………………………………………………………………………





segment its market.

Answers

……………………………………………………………………………………………………………………………………………………






Answers

…………………………………………………………………………………………………………………………………………………...






primary research

Answers

……………………………………………………………………………………………………………………………………………………





segment its market.

Answers

cycle 1 business - two year course

Documents