Notesale: Turn your study into money

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-Exploring​ ​businesses
mission​ ​-​ ​a​ ​promise​ ​of​ ​commitment​ ​to​ ​the​ ​business​ ​cause
Vision-​ ​ ​the​ ​direction​ ​the​ ​business​ ​aims​ ​to​ ​travel​ ​in​ ​the​ ​future,​ ​whether
it's​ ​short​ ​or​ ​long​ ​term
Value-​ ​ ​the​ ​philosophy​ ​and​ ​ethos​ ​of​ ​a​ ​business​ ​which​ ​underpin​ ​a​ ​vision
S​pecific
M​easureable
A​chievable
R​evelent
T​ime​ ​constructive
Profit​ ​-​ ​revenue​ ​higher​ ​than​ ​sales
Break​ ​Even-​ ​ ​when​ ​sales​ ​are​ ​the​ ​same​ ​as​ ​costs,​ ​you​ ​don't​ ​make​ ​a​ ​profit
Survival-​​ ​where​ ​a​ ​business​ ​struggles​ ​to​ ​stay​ ​afloat
Growth-​ ​pound​ ​shops​ ​always​ ​do​ ​well​ ​in​ ​times​ ​of​ ​austerity
Niche​ ​market-​ ​a​ ​product​ ​with​ ​a​ ​small​ ​market​ ​base​ ​eg:​ ​tractors,
supercars​ ​and​ ​gluten​ ​free​ ​food
Demographic​ ​segmentation-​ ​ ​separated​ ​into​ ​groups​ ​based​ ​on
characteristics​ ​eg:​ ​age,​ ​gender
Brand​ ​personality-​ ​ ​human​ ​characteristics​ ​of​ ​a​ ​brand​ ​eg:​ ​sound,
appearance
Unique​ ​selling​ ​point-​ ​ ​selling​ ​a​ ​product​ ​on​ ​its​ ​unique​ ​trades​ ​eg:​ ​apple
products​ ​because​ ​of​ ​its​ ​software​ ​IOS
Example:
Brand​ ​image-​​ ​the​ ​brand​ ​logo​ ​stands​ ​out​ ​as​ ​it​ ​always​ ​has​ ​the​ ​black​ ​tick
and​ ​the​ ​slogan​ ​‘Just​ ​do​ ​it’​ ​this​ ​represents​ ​the​ ​brand​ ​because​ ​everybody
recognises​ ​the​ ​nike​ ​tick​ ​if​ ​it​ ​was​ ​on​ ​clothing​ ​or​ ​shoes​ ​because​ ​it's​ ​in​ ​the
logo
Targeted​ ​customers-​young​ ​adults/teens
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● Interest​ ​rates​ ​are​ ​determined​ ​by​ ​the​ ​bank​ ​of​ ​england​ ​and​ ​the​ ​MPC
● All​ ​businesses​ ​are​ ​affected
Inflation-​​ ​A​ ​general​ ​increase​ ​in​ ​prices​ ​and​ ​fall​ ​in​ ​purchasing​ ​value​ ​of
money
Employment​ ​level​-​ ​The​ ​amount​ ​of​ ​people​ ​in/out​ ​of​ ​work​ ​in​ ​a​ ​country
GDP​ ​(general​ ​domestic​ ​product)​-​ ​The​ ​broadest​ ​quantitative​ ​measure
of​ ​a​ ​nation's​ ​total​ ​economic​ ​activity
Economic​ ​growth​-​ ​An​ ​increase​ ​in​ ​the​ ​amount​ ​of​ ​goods​ ​and​ ​services
produced​ ​per​ ​head​ ​of​ ​the​ ​population​ ​over​ ​a​ ​period​ ​of​ ​time
Economic​ ​factors
● Interest​ ​rates​ ​(0
...
​ ​Some​ ​of​ ​the​ ​laws​ ​affecting
businesses​ ​are​ ​outlined​ ​in​ ​the​ ​book
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​ ​Demand​ ​for​ ​reduced​ ​pollution​ ​has​ ​forced
some​ ​businesses​ ​to​ ​close
Environment​ ​factors
● Geographical​ ​location
● The​ ​climate​ ​and​ ​weather
● Water​ ​disposal​ ​laws
● Energy​ ​consumption​ ​regulation
● People's​ ​attitudes​ ​towards​ ​the​ ​environment



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