GCSE Business Studies Unit 1

Primary Research (Field)

Secondary Research (Desk)

Qualitative data

Quantitative

Market Segments

Market Map

'Gap in the Market'

brand

USP

Differentiate

added value

Franchise

Franchisor

Franchisee

Entrepreneur

deliberate creativity

Blue skies thinking

Lateral thinking

Patents

Copyright

trademarks

Calculated risk

Name 4 qualities of an entrepreneur

Sales Revenue (turnover)

FIXED COSTS

VARIABLE COSTS

TOTAL COSTS

PROFIT/ LOSS

PROFIT

Loss

Cash flow forecast

Inflows or Receipts

Outflows or payments

Net Cash Flow

OPENING BALANCE

CLOSING BALANCE

CUMULATIVE CASH FLOW

Insolvent

Business Plan

source of finance

Shareholder

collateral (security)

3 steps to be customer focused are...

The marketing mix

LIMITED LIABILITY

UNLIMITED LIABILTY

4 main differences between sole traders and Ltds

CORPORATION TAX

INCOME TAX

VAT

National Insurance Contributions

repeat purchase

product trial

customer loyalty

SUPPLY

DEMAND

A Market

COMMODITY MARKETS

Goods Markets

Costs

Price

EXCHANGE RATES

The business cycle

Stakeholders