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1.2 Spotting a business opportunity

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Question 8

Why is the reliability of market-research data important?

[1]
A

Reliable data means every respondent gives the same answer even when the market contains different segments

B

Unreliable data may lead the business to make a poor decision

C

Reliable data guarantees that competitors cannot react

D

Unreliable data is always more detailed than reliable data

Markscheme

1.2 Spotting a business opportunity Questions

  1. GCSE
  2. /Business
  3. /1.2 Spotting a business opportunity

36 exam-style questions on Edexcel GCSE Business 1.2 Spotting a business opportunity, covering 1.2.1a What customer needs are, 1.2.1b Importance of understanding customers, 1.2.2a The purpose of market research, 1.2.2b Methods of market research, 1.2.2c The use of data in market research, 1.2.3a Identifying market segments, 1.2.3b Market mapping, 1.2.4a Strengths and weaknesses of competitors, and 1.2.4b Impact of competition on decision making. Each one has a worked solution and a mark scheme showing where the marks go.

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