Read the following extract before answering.
The new head chef carried out secondary market research to identify information about the food market.
State one benefit to Last Course Patisserie of conducting secondary market research.
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Read the following extract before answering.
State one way Aphrodite could use social media.
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Read the following extract before answering.
Outline one reason why Aphrodite’s range of stock could give it an advantage over its competitors.
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Which two of the following are examples of secondary market research?
Select two answers.
| A. | Focus group | |
| B. | Internet | |
| C. | Market report | |
| D. | Observation | |
| E. | Survey |
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Read the following extract before answering.
State one market segment that On Your Bike has targeted.
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Which one of the following could be used to identify customer needs?
Select one answer.
(1)
Business idea
Business objectives
Market research
Marketing mix
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Read the following extract before answering.
Outline one way that Sports Tours Ltd meets customer needs.
(2)
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Which one of the following is a reason why customer service is important to small business success?
Customers will buy a product when they see advertisements
A small business needs to encourage repeat purchases
It has to meet legal requirements
Customers will only buy products at the lowest price
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Which one of the following is an advantage of secondary market research?
Less time-consuming
Direct customer contact
Specific to business needs
Effective at collecting qualitative data
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State one method of collecting qualitative market research.
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Outline one limitation of market segmentation.
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Outline one way a book shop could differentiate itself from online competition.
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Read the following extract before answering.
Evaluate the extent to which Loco will be able to compete with large manufacturers of SUPs. You should use the information provided as well as your knowledge of business.
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Read the following extract before answering.
To maintain market share following the arrival of a low-price competitor in Potters Barr, Justin Carr is considering two options:
Option 1: Opening a second barbers shop in central Manchester
Option 2: Expanding the range of branded clothing and accessories for sale in the Potters Bar salon
Justify which one of these two options Justin should choose.
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Read the following extract before answering.
To target new market segments, On Your Bike is considering two options:
Option 1: Introduce family-friendly bike hire options such as tandems, child seats and bike trailers
Option 2: Open a bike shop and repair workshop in another major UK city such as Birmingham or Manchester
Justify which one of these two options On Your Bike should choose.
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Explain one way a small business could use market segmentation to target customers.
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Explain one disadvantage to a small business of using qualitative data for market research.
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Explain one benefit to a small business of understanding customer needs.
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Explain one advantage to a small business of using market mapping.
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Explain one disadvantage to a small business of using a focus group to collect market research data.
(3)
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Discuss how the decision making of a small business may be affected by increased competition.
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Read the following extract before answering.
Analyse the impact on Sports Tours Ltd of using market mapping to target customers.
(6)
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Explain one benefit to a small business of conducting market research before it starts to trade.
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Explain one drawback to a small business of using online surveys to capture data on customer needs and wants.
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Discuss the ways a small business may differentiate its product in a competitive market.
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Explain one reason why a small business may choose to segment its market.
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Read the following extract before answering.
Analyse the impact on On Your Bike of using secondary market research to inform their decision to enter London's bike rental market.
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