Business studies year12

edexcel

what is objectives?

is a marketing target or goal that an organisation hopes to achieve.

what is strategy?

are methodes used to achieve business objectives.

why do objectives must be SMART?

.it could built up motivation

.clear business pathway

what does SMART stand for ?

S - specific

M - measurable

A - achievable

R - realistic

T - time-bound

examples of SMART target?

. increase brand awarness by 10% within next year.

. increase brand loyalty by 6% within next year.

. increase profit/sales by 2.6% by the next four months.

examples of stategies ?

.promotion

. loyalty cards

. improved customer service

. improved quality products

what is the difference between customer and consumer?

customer buys the product from the business while consumer uses the product made by business.

ethics can appear differently what are some examples?

. promotion/advertisment

. the product it self

. the supplier