As Business Definitions & Formulas 9609 Study Guide Questions And Correct Answers

Market research {Ans: this is the process of collecting, recording and analysing data about customers, competitors and the market.}Overdraft {Ans: The bank agrees to a business borrowing up to an agreed limit as and when required.}Scale of operations {Ans: the maximum output that can be achieved using the available inputs (resources)-this scale only be increased in the long term by employing more of all inputs.}Open questions {Ans: those that invite a wide-ranging or imaginative response-the results will be difficult to collate and present numerically.}Product portfolio analysis {Ans: analysing the range of existing products of a business to help allocate resources effectively between them.}Marketing strategy {Ans: long-term plan established for achieving marketing objectives.}Internet (online) marketing {Ans: refers to advertising and marketing activities that use the internet, email and mobile communications to encourage direct sales via electronic commerce.}Mass marketing {Ans: selling the same products to the whole market with no attempt to target groups within it.}Memorandum of association {Ans: this states the name of the company, the address of the head office through which it can be contacted, the maximum share capital for which the company seeks authorisation and the declared aims of