Business Studies Pearson Edexcel Topic 1.2 Questions and Answers

Business Studies Pearson Edexcel Topic 1.2
Questions and Answers
ExplainAoneAreasonAwhyAaAbusinessAmightAcollectAmarketAresearchAinformationA-
AtastesA(3)A-ACORRECTAANSWERSA-

MarketAresearchAprovidesAtheAbusinessAwithAinformationAaboutAcustomerAtastesA(1).AThisA
willAallowAtheAbusinessAtoAkeepAitsAproductsAcompetitiveA(1),AwhichAthenAleadsAtoAmoreA
salesA(1)
ExplainAoneAreasonAwhyAaAbusinessAmightAcollectAmarketAresearchAinformationA-
AchangingApreferencesA(3)A-ACORRECTAANSWERSA-

TheAbusinessAwillAfindAoutAaboutAcustomers'AchangingApreferencesA(1).AThisAallowsAtheAbu
sinessAtoAchangeAitsAmarketingAmixA(1),AwhichAmeansAtheyAcanAout-competeArivalsA(1)
ExplainAoneAbenefitAtoAaAsmallAbusinessAofAcarryingAoutAmarketAresearchA-
AcompetitorsA(3)A-ACORRECTAANSWERSA-

MarketAresearchAenablesAaAbusinessAtoAidentifyAkeyAfeaturesAofAcompetitorsA(1)AwhichAall
owsAtheAbusinessAtoAspotAaAgapAinAtheAmarketA(1)AsoAtheyAcanAproduceAgoodsAandAservice
sAthatAhelpAtheAbusinessAtoAstandAoutA(1)
ExplainAoneAbenefitAtoAaAsmallAbusinessAofAcarryingAoutAmarketAresearchA-
AcustomersA(3)A-ACORRECTAANSWERSA-

MarketAresearchAcanAhelpAaAbusinessAtoAunderstandAwhatAtypesAofAproductAitsAcustomersA
wantA(1).AItAcanAthenAproduceAproductsAthatAitAknowsAwillAbeAdemandedAbyAcustomersA(1)A
andAasAaAresultAwillAincreaseAsalesAandArevenueA(1)
ExplainAoneAbenefitAtoAaAbusinessAofAusingAaAmarketAmapA-AcompetitorsA(3)A-
ACORRECTAANSWERSA-

TheAmarketAmapAwillAhelpAtoAidentifyAkeyAfeaturesAofAcompetitorsA(1),AwhichAallowsAtheAbu
sinessAtoAspotAaAgapAinAtheAmarketA(1)AsoAtheyAcanAfocusAonAfeaturesAtoAmakeAthemselves
AdifferentA(1)

ExplainAoneAbenefitAtoAaAbusinessAofAusingAaAmarketAmapA-AgapA(3)A-
ACORRECTAANSWERSA-

MarketAmappingAwillAallowAaAsmallAbusinessAtoAspotAaAgapAinAtheAmarketA(1).AThisAcanAlea
dAtoAtheAbusinessAdevelopingAaAproduct/serviceAtoAhelpAfillAthisAgapA(1).AAsAaAresult,AtheAs
mallAbusinessAmayAcaptureAmarketAshareAfromAcompetitionA(1)
ExplainAoneAmethodAofAmarketAsegmentationAaAbusinessAcouldAuseA(3)A-
ACORRECTAANSWERSA-

AAbusinessAcanAsegmentAaAmarketAbyAageA(1)AwhichAmeansAdividingAcustomersAintoAgrou
psAaccordingAtoAtheirAageAgroup,AforAexampleAbabies,AtoddlersAandApre-
schoolAchildrenA(1).AThisAenablesAaAbusinessAtoAmoreAeffectivelyAtargetAitsAproductsAatAthe
AparticularAageAgroupAtoAgenerateAmoreAsalesA(1)

ExplainAoneAwayAaAsmallAbusinessAcouldAuseAmarketAsegmentationAtoAtargetAcustomersA-
AgenderA(3)A-ACORRECTAANSWERSA-

AAsmallAbusinessAcouldAuseAmarketAsegmentationAbyAusingAgenderA(1).ADifferentAproduct
sAcanAbeAtargetedAtoAcustomersAdependingAonAifAtheyAareAmaleAorAfemaleA(1).AThisAwillAlea
dAtoAaAbusinessAbeingAableAtoAmeetAtheAneedsAofAthoseAparticularAcustomersA(1)