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1.2 Spotting a business opportunity

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Question 6

A gym identifies two segments: students seeking low prices and professionals seeking convenience. Which decision best uses this information?

A

Offer one identical service and ignore the differences between the segments

B

Design separate offers that emphasise price for students and flexible access for professionals

C

Target professionals with student discounts while reducing opening hours

D

Assume that income and lifestyle cannot affect the services, access arrangements or prices customers value

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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