2025 PEARSON EDEXCEL A LEVEL BUSINESS PAPER 1
(9BS0/01)
Brand - CORRECT ANSWER ✅✅✅A symbol, logo or design that is
recognisable and distinguishes a product from competitors
Competition - CORRECT ANSWER ✅✅✅The rivalry among sellers trying to
achieve goals such as increasing profits, market share, and sales volume
Competitive market - CORRECT ANSWER ✅✅✅When there are many rivals
selling similar products
Competitor - CORRECT ANSWER ✅✅✅A rival business operating in the
same market offering similar goods or services
Direct competition - CORRECT ANSWER ✅✅✅Businesses produce similar
products that appeal to the same group of customers
Dynamic market - CORRECT ANSWER ✅✅✅A market that is subject to
rapid/continuous change.
Indirect competition - CORRECT ANSWER ✅✅✅Different businesses make
or sell products that are not in direct competition but compete for the same
customer experience e.g. Netflix and the local cinema
Innovation - CORRECT ANSWER ✅✅✅The creation, development and
implementation of a new product, process or service.
,Market - CORRECT ANSWER ✅✅✅Where buyers and sellers interact
Market growth - CORRECT ANSWER ✅✅✅An increase in demand/sales for
a particular product/service
Market share - CORRECT ANSWER ✅✅✅The % of the total market a
business has in terms of volume or value
Market size - CORRECT ANSWER ✅✅✅The total amount of
sales/customers in a market measured by value/volume
Mass market - CORRECT ANSWER ✅✅✅A large unsegmented market
where mass appeal products are on sale
Niche market - CORRECT ANSWER ✅✅✅A specialist area of the market/is
a subset of the market on which a specific product focuses. It is a smaller
segment of a larger market where consumers have specific needs and wants.
Online retailing - CORRECT ANSWER ✅✅✅Selling goods and services on
the internet
Product innovation - CORRECT ANSWER ✅✅✅The development/creation
of products not previously available
Sales volume - CORRECT ANSWER ✅✅✅The quantity of a good or service
sold within a period of time. Calculation Sales revenue/selling price
Uncertainty - CORRECT ANSWER ✅✅✅The inability to predict/a lack of
knowledge about future events and outcomes/reasons for uncertainty. Is
,caused by unexpected often external factors outside the business's control,
even though sometimes these can be predictable
Biased questions - CORRECT ANSWER ✅✅✅Where the questions do not
produce findings that give a true reflection of the views of the target audience
on the product or service
Consumer behaviour - CORRECT ANSWER ✅✅✅How consumers make
decisions about how they choose and use products or services
Databases - CORRECT ANSWER ✅✅✅An organised collection of data
stored electronically with instant access, searching and sorting facilities
Face-to-face survey - CORRECT ANSWER ✅✅✅A research method used
where the interviewer communicates directly with the respondent using a
questionnaire.
Focus group - CORRECT ANSWER ✅✅✅A group of people who participate
in a discussion as part of market research to give feedback about a product or
service
Government data - CORRECT ANSWER ✅✅✅Government publications that
a business can use such as the census of the population
Interview bias - CORRECT ANSWER ✅✅✅Where the opinion of the
interviewer interferes with the judgements of the interviewee
Market orientation - CORRECT ANSWER ✅✅✅When a business's
products/services are based around the needs and wants of the customer.
, Customer needs and wants - CORRECT ANSWER ✅✅✅The business finds
out the needs and wants of the customers and responds to them/meets
customer requirements
Market reports - CORRECT ANSWER ✅✅✅A document that contains
information, stats, research and facts on a chosen field
Market research - CORRECT ANSWER ✅✅✅Gathering, presenting and
analysing information about products/customers
Market segmentation - CORRECT ANSWER ✅✅✅Dividing a whole market
into particular customer groups that have similar characteristics
Market segments - CORRECT ANSWER ✅✅✅An identifiable group of
individuals/a part of the market where consumers share one or more
characteristic or need
Observations - CORRECT ANSWER ✅✅✅Where market researchers watch
the behaviour of customers
Primary market research - CORRECT ANSWER ✅✅✅Obtaining data first
hand by the business to match the specific needs of the business. It can also be
known as field research
Product orientation - CORRECT ANSWER ✅✅✅When a business prioritises
a product's design quality or performance rather than meeting customer
preferences to guide production and marketing decisions
(9BS0/01)
Brand - CORRECT ANSWER ✅✅✅A symbol, logo or design that is
recognisable and distinguishes a product from competitors
Competition - CORRECT ANSWER ✅✅✅The rivalry among sellers trying to
achieve goals such as increasing profits, market share, and sales volume
Competitive market - CORRECT ANSWER ✅✅✅When there are many rivals
selling similar products
Competitor - CORRECT ANSWER ✅✅✅A rival business operating in the
same market offering similar goods or services
Direct competition - CORRECT ANSWER ✅✅✅Businesses produce similar
products that appeal to the same group of customers
Dynamic market - CORRECT ANSWER ✅✅✅A market that is subject to
rapid/continuous change.
Indirect competition - CORRECT ANSWER ✅✅✅Different businesses make
or sell products that are not in direct competition but compete for the same
customer experience e.g. Netflix and the local cinema
Innovation - CORRECT ANSWER ✅✅✅The creation, development and
implementation of a new product, process or service.
,Market - CORRECT ANSWER ✅✅✅Where buyers and sellers interact
Market growth - CORRECT ANSWER ✅✅✅An increase in demand/sales for
a particular product/service
Market share - CORRECT ANSWER ✅✅✅The % of the total market a
business has in terms of volume or value
Market size - CORRECT ANSWER ✅✅✅The total amount of
sales/customers in a market measured by value/volume
Mass market - CORRECT ANSWER ✅✅✅A large unsegmented market
where mass appeal products are on sale
Niche market - CORRECT ANSWER ✅✅✅A specialist area of the market/is
a subset of the market on which a specific product focuses. It is a smaller
segment of a larger market where consumers have specific needs and wants.
Online retailing - CORRECT ANSWER ✅✅✅Selling goods and services on
the internet
Product innovation - CORRECT ANSWER ✅✅✅The development/creation
of products not previously available
Sales volume - CORRECT ANSWER ✅✅✅The quantity of a good or service
sold within a period of time. Calculation Sales revenue/selling price
Uncertainty - CORRECT ANSWER ✅✅✅The inability to predict/a lack of
knowledge about future events and outcomes/reasons for uncertainty. Is
,caused by unexpected often external factors outside the business's control,
even though sometimes these can be predictable
Biased questions - CORRECT ANSWER ✅✅✅Where the questions do not
produce findings that give a true reflection of the views of the target audience
on the product or service
Consumer behaviour - CORRECT ANSWER ✅✅✅How consumers make
decisions about how they choose and use products or services
Databases - CORRECT ANSWER ✅✅✅An organised collection of data
stored electronically with instant access, searching and sorting facilities
Face-to-face survey - CORRECT ANSWER ✅✅✅A research method used
where the interviewer communicates directly with the respondent using a
questionnaire.
Focus group - CORRECT ANSWER ✅✅✅A group of people who participate
in a discussion as part of market research to give feedback about a product or
service
Government data - CORRECT ANSWER ✅✅✅Government publications that
a business can use such as the census of the population
Interview bias - CORRECT ANSWER ✅✅✅Where the opinion of the
interviewer interferes with the judgements of the interviewee
Market orientation - CORRECT ANSWER ✅✅✅When a business's
products/services are based around the needs and wants of the customer.
, Customer needs and wants - CORRECT ANSWER ✅✅✅The business finds
out the needs and wants of the customers and responds to them/meets
customer requirements
Market reports - CORRECT ANSWER ✅✅✅A document that contains
information, stats, research and facts on a chosen field
Market research - CORRECT ANSWER ✅✅✅Gathering, presenting and
analysing information about products/customers
Market segmentation - CORRECT ANSWER ✅✅✅Dividing a whole market
into particular customer groups that have similar characteristics
Market segments - CORRECT ANSWER ✅✅✅An identifiable group of
individuals/a part of the market where consumers share one or more
characteristic or need
Observations - CORRECT ANSWER ✅✅✅Where market researchers watch
the behaviour of customers
Primary market research - CORRECT ANSWER ✅✅✅Obtaining data first
hand by the business to match the specific needs of the business. It can also be
known as field research
Product orientation - CORRECT ANSWER ✅✅✅When a business prioritises
a product's design quality or performance rather than meeting customer
preferences to guide production and marketing decisions
