GCSE Business Unit 3

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GCSE Business - Edexcel
Definitions - Unit 3
1 of 13
Ethics
What you think is morally right or wrong about the actions of a business
2 of 13
Boston Matrix
A method of analysing the growth within the market as a whole, from one year to the next
3 of 13
Brand
A named product which customers see as being different from other products
4 of 13
Marketing
The process of anticipating,identifying and satisfying customer needs
5 of 13
Pressure Group
A pressure group is where a group of organised people come together with an intention of influencing government policy and/or public opinion about businesses
6 of 13
Interest Rate
An interest rate is the cost of borrowing money or the return for investing money
7 of 13
Quality
The standard expected by the customer
8 of 13
Quality Control
A part in the chain of production - If the product was not made properly it would be thrown away or removed
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Quality Assurance
Ensuring that quality standards are being met through the production process
10 of 13
Customer Service
The experience that a customer gets when dealing with a business and the extent to which that experience meets and exceeds customer needs and expectations
11 of 13
Consumer Protection
A law that is a government aim to protect the right of consumers
12 of 13
Stakeholder
An individual or group that is affected by the business. They have an interest in how the business operates and whether or not it is successful.
13 of 13

Other cards in this set

Card 2

Front

Ethics

Back

What you think is morally right or wrong about the actions of a business

Card 3

Front

Boston Matrix

Back

Preview of the front of card 3

Card 4

Front

Brand

Back

Preview of the front of card 4

Card 5

Front

Marketing

Back

Preview of the front of card 5
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