Edexcel A Level Business Highly
Recommended
A name, term, sign, symbol, design or any other feature that allows consumers to
identify the goods and services of a business and to differentiate them from those of
competitors - Answer-Brand Name
Conducting business transactions online - Answer-E-commerce
The retailing of goods online - Answer-Online retailing
A set of arrangements that allows buyers and sellers to communicate and trade in a
particular range of goods and services - Answer-Market
A management process involved in identifying, anticipating and satisfying consumer
requirements profitably - Answer-Marketing
The proportion of total sales in a particular market for which one or more businesses or
brands are responsible. It is expressed as a percentage and can be calculated by value
or volume. - Answer-Market share
A very large market in which products with mass appeal are targeted - Answer-Mass
market
A smaller market, usually within a large market or industry - Answer-Niche market
Groups of customers are asked for feedback about products over a period of time -
Answer-Consumer panels
An organised collection of data stored electronically with instant access, searching and
sorting facilities - Answer-Database
Where a number of customers are invited to attend a discussion about a product led by
market researchers - Answer-Focus groups
An approach to business which places the needs of consumers at the centre of the
decision-making process - Answer-Market orientation
The collection, presentation and analysis of information relating to the marketing and
consumption of goods and services - Answer-Market research
