4171869
Business studies
- Product Lifecycle
- Maturity
- Sales reach highest ppoint
- Profit starts to fall
as competition
increases
- Sales reach highest ppoint
- Growth
- Sales increase rapidly
- profit reachest
highest point at the
end of this stage
- Sales increase rapidly
- Introduction
- Sales are low
- Profit is minimal or negative
- Sales are low
- Decline
- Sales and profits fall
- Profits may become negative
- Sales and profits fall
- Product Extension
- Product development
- Market development
- Widening the product range
- Extra advertising
- Special promotions
- Half price
- Buy one get
one free
- Half price
- Adding additional value
- Product development
- Maturity
- Boston Matrix
- Cash cows
- High market share
- High market growth
- High market share
- Rising stars
- High market share
- High market growth
- High market share
- Problem children
- Low market share
- High market growth
- Low market share
- Dogs
- Low market share
- Low market growth
- Low market share
- Cash cows
- Market research
- Primary research
- Advantages
- Specific to needs of the business
- Less expensive
- Up to date with current fashion
- Specific to needs of the business
- Disadvantages
- Time consuming
- Limited results
- May have a lack of expertise
- Time consuming
- Advantages
- Secondary research
- Advantages
- Has been carried out already
- Easy to access
- Can be
received by
experts
- Has been carried out already
- Disadvantages
- Often expensive
- Easy to access
- Can be received by experts
- Often expensive
- Advantages
- Primary research
- Improving Profit
- Lease instead of buy
- Buy less stock
- Use cheaper suppliers
- Lowering wages
- Lease instead of buy
- Breaking even
- Abbreviations
- FC: Fixed Costs
- VC: Variable Costs
- TC: Total Costs
- TR: Total Revenue
- SP: Selling Price
- FC: Fixed Costs
- Contribution
- Selling price - variable costs
- Selling price - variable costs
- Breaking even is where a firm's
total revenue is the same as its total
costs. At the break even point a firm
is making neither a profit or a loss
- Abbreviations
- Motivation
- Financial Methods
- Piece rate
- Commission
- Bonuses
- Profit-sharing
- Share-ownership
- Piece rate
- Non-financial methods
- Fringe benefits
- Company Car
- Cheap Travel
- Holidays
- Vouchers
- Company Car
- Good conditions of work
- Bonuses
- Flexible performance
- Related payments
- Flexible performance
- Fringe benefits
- Financial Methods
- Customer Service
- Meeting the needs of the customers
- Quality
- On time service
- Innovation
- Collaboration
- Spotting Problems
- Listening to customers
- Dealing with complaints
- Staff Training
- Go beyond what is expected
- Disadvantages
of poor
customer
service
- Sales go down
- Go to substitute competition products / services
- Lower profits
- Lower repeat purchases
- Survival may depend on customer service
- Sales go down
- Meeting the needs of the customers
- Productivity
- The output of a worker over a period of time
- Cost effective -
producing the most
economical outcome
for consumers
- High productivity
- Average cost of each unit
- Prices could be lowered
- Profits may be higher
- Average cost of each unit
- The output of a worker over a period of time
Recursos multimedia adjuntos
¿Quieres crear tus propios Mapas Mentales gratis con GoConqr? Más información.