edexcel as level business: 1.1.1 the market worksheet
TRANSCRIPT
![Page 1: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/1.jpg)
1
Write a definition of niche markets here:
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
Write a definition of mass markets here:
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
_________________________________________________________________________________
111 The Market
![Page 2: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/2.jpg)
2
Divide up this circle with as many watch brands as you can think of, use research and ideas from others to
complete the diagram
![Page 3: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/3.jpg)
3
Mass market characteristics
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
Mass Markets
Pros Cons
Mass market brands
________________________________________
________________________________________
________________________________________
________________________________________
________________________________________
![Page 4: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/4.jpg)
4
Niche market characteristics
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
Niche Markets
Pros Cons
Niche market brands
________________________________________
________________________________________
________________________________________
________________________________________
________________________________________
![Page 5: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/5.jpg)
5
Mass or niche markets?
![Page 6: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/6.jpg)
6
Market size
1.______________________________________________________________________
2._____________________________________________________________________
Market share
__________________________________________________________________ x100
Write a definition of a dynamic market here:
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
![Page 7: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/7.jpg)
7
Dynamic markets and online retailing
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
Advantages and disadvantages of online retailing
Advantages Disadvantages
![Page 8: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/8.jpg)
8
Market growth
• With dynamic markets, comes constantly changing
________________________ tastes and ___________________________________
• Products not used widely 20 years ago:
• Internet
• Mobile Phones
• PC _____________________ for home use
• Computer games / games _______________________
• Technology is a massive ____________________________ market, consider
how many of these items are in most UK households now
• For example, the increase of ___________________________ to the UK has
increased the need for speciality meats such as Kosher and
________________. These are growth markets and great
_____________________________ for business
![Page 9: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/9.jpg)
9
Competition and the market
• Very competitive markets benefit the consumer in a number of ways:
1.
2.
3.
Homogenous markets
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
![Page 10: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/10.jpg)
10
The difference between risk and uncertainty
Risk Uncertainty
![Page 11: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/11.jpg)
11
![Page 12: Edexcel AS Level Business: 1.1.1 the market Worksheet](https://reader034.vdocuments.us/reader034/viewer/2022052116/5a65edcb7f8b9aaf638b609f/html5/thumbnails/12.jpg)
12