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Spotting a business opportunity
Revision, flashcards and exam practice for Spotting a business opportunity.
7
Objectives
6
Flashcards
6
Questions
24 min
Study time
Pearson EdexcelGCSE (9-1)BusinessPaper 1 (1BS0/01); synoptic access from Paper 2
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Syllabus checklist
What you need to know
7 objective pages available
Understanding Customer Needs0 objectives
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The Purpose of Market Research0 objectives
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Understanding Market Research Methods0 objectives
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Understanding Market Research Data0 objectives
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Understanding Market Segmentation0 objectives
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Understanding Market Maps and Business Opportunities0 objectives
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Understanding the Competitive Environment0 objectives
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Practice preview
- A fictional luxury car manufacturer, 'Prestige Motors', primarily targets individuals earning over £100,000 per year. This is an example of segmentation based on:
- When 'Bloom Botanicals,' a fictional flower shop, identifies that its main competitor has a limited selection of rare orchids, this is an example of analysing a competitor's:
- A local bakery, 'The Daily Crumb', consistently offers a wide range of pastries, breads, and cakes, including gluten-free and vegan options. Which customer need is 'The Daily Crumb' primarily addressing?
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