A LEVEL EDEXCEL BUSINESS PAPER 1 questions 100% c0rrect answers

mass market - correct answer a market that targets a large segment - products are standardised niche market - correct answer a market that targets a small segment - customers have specific needs that aren't catered by the mass market brand name - correct answer a name, sign, symbol or other feature that allows consumers to identify the goods of a business and differentiate it from rivals e-commerce - correct answer conducting business transactions online online retailing/ e-tailing - correct answer buying goods online market - correct answer a arrangement where the buyer and seller can trade and communicate marketing - correct answer process that involves identifying, analysing and anticipating customer requirements profitably market share - correct answer the total sales a business has in a particular market that involves one and more other businesses primary/field research - correct answer data collected first-hand for a specific purpose (involves questionnaires) secondary/desk research - correct answer data that already exists for a different purpose (can be internal - stock movements/sales figures and external - international publications/rival websites) quantitative research - correct answer data can be measured (financial element to it)