How businesses use market segmentation to target customers:
Business aims and objectives when starting up:
● financial aims and objectives: survival, profit, sales, market share, financial security
● non-financial aims and objectives: social objectives, personal satisfaction, challenge, independence and control.
Why aims and objectives differ between businesses.
Discover
Delve
Demonstrate Question
This question is an explain question. You MUST use the BLT format. An example is below for a different explain question. The structure of your answer should match the example.
Explain an advantage of having limited liability. (3 marks).
One advantage is that you only risk losing the money you invest in the business.
This is because you and your business have separate legal identities
This leads to being more likely to take calculated risks with the business
Therefore having greater returns when those risks are successful
Have a go at your own
Explain one possible non-financial aim an entrepreneur may have when starting a small business.
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Mark Scheme
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