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1.2 Spotting a business opportunity

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Question 16

Why should a new retailer compare competitors' product ranges?

[1]
A

A wide range always means that the competitor charges the lowest price

B

Product range is the only factor customers use when making a choice

C

It may reveal needs that rivals meet well and products that are not currently offered

D

A competitor's product range determines the new retailer's legal structure and how much finance its owners can raise

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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