Grade 10 Business Studies Term 3 & 4 Revision

A process for understanding customers' needs and promoting products/services.

The group of people likely to buy a product/service.

Investigating a target market to understand factors like age, gender, and interests.

Combination of product, price, place, promotion, people, process, and physical environment used for marketing.

Communicating product benefits to customers.

Location where products/services are sold or accessed by consumers.

The product being sold, including its features and benefits.

The cost of the product/service.

A document outlining a business's future goals and strategies.

A short overview of the entire business plan.

Identifying strengths, weaknesses, opportunities, and threats for a business.

A strategy for selling products/services to customers.

Gathering information about customers and competitors.

A set of actions to promote a brand (product, price, place, promotion, people, physical environment, process).

Evaluating rivals and strategies to stand out in the market.

Assessing the financial viability and profitability of business.

The amount of money a customer pays for a product or service.

A description of the good or service; its appearance, usage, and characteristics.

A strategy for setting prices to attract customers and cover costs.

Employees, management, and other stakeholders involved in the business.

The steps needed to provide a good or service to customers.

The physical space where goods or services are sold, including the appearance of the building and staff uniforms.

A set of tools used by businesses to market a product or service consisting of the Product, Price, Place, Promotion, People, Process, and Physical Environment.

Using social media platforms to advertise products and increase customer base.