Business Unit 1

Primary research

Secondary research

Pros of primary research

Pros of secondary research

Quantitative data

Qualitative data

Market research

Market segment

Market segmentation

Market mapping

Gap in the market

Added value

Give examples of way to add value

Importance of added value

Unique selling point (USP)

Franchise

Franchisor

Franchisee

Benefits of starting a franchise?

Drawbacks of a franchise

Entrepreneur

Enterprise

Enterprises

What are enterprise skills

Blue sky thinking

Lateral thinking

Patent

Copyright

Trademark

Calculated risk

Revenue / Turnover

Fixed cost

Variable cost

Profit

Loss

Cash flow

Cash-Flow Forecast

Cash-Flow problem

Net cash flow

Insolvent

Business plan

Shares

Liability

Unlimited liability

Limited Libility

Interest Rate