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22 Cards in this Set
- Front
- Back
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Customer Focus
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Making sure that the business finds out what its customers want and then focuses on producing goods and services to meet customer requirements.
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Marketing MIx
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The factors a business needs to take into account when selling a product or service to their customers.
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Price
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The part of the Marketing Mix where the business determines the amount of money customers have to give to purchase a product.
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Product
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One of the 4 P's that involves thinking about design, size, branding...
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Promotion
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How businesses create an awareness with the customers of their product and persuade them to buy it.
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Place
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One of the 4 P's that looks at how the product gets to from the producer to the customers.
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Sole Trader
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A business that is owned and run by one person and has unlimited liability.
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Unlimited Liability
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The situation where if you run up debts you have to pay them all off, to the extent that your belongings may be taken.
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Limited Liability
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The protection companies have, where shareholders are not personally liable for the debts. The most they can lose is the price they aid for their shares.
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Company
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A business that is owned by shareholders, run by directors and has limited liability
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VAT
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A tax on sales, paid by businesses to the government.
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Income Tax
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A tax on what workers earn (and on sole traders too!)
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National Insurance Contributions (NICs)
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A tax on earners paid by both the worker and the employer that goes towards paying pensions and benefits.
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Corporation Tax
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A tax on the profit of companies.
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Customer Service
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The service a customer receives before, during and after their purchase.
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Customer Satisfaction
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The measure of how much products meet customer needs.
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Repeat purchases
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Orders or sales that occur from customers who have purchased in the past.
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Job Description
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A document that describes the duties of a worker.
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Person Specification
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A document that describes the type of worker required for the job eg skills and qualities.
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Application Form
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A formal document to be filled in when applying for a job.
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Curriculum Vitae
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A document written by a job applicant detailing their personal information, experience, qualitities etc.
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Motivation
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The desire to get things done, generally to a good standard.
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