: The physical good or service, driven heavily by its unique selling point (USP).
The marketing mix consists of the tactical tools a business uses to influence demand for its products. Description Key Strategies The physical item or service being sold. edexcel igcse business studies revision notes pdf
Overdrafts (flexible but high interest) and trade credit (buy now, pay later). : The physical good or service, driven heavily
Unlimited human wants collide with limited resources. This creates the basic economic problem. : The physical good or service
Costs that do not change with output (e.g., rent, salaries, insurance).
Enterprise: The skill and risk-taking ability of the entrepreneur. 1.2 Business Objectives
Covers internal/external communication, recruitment processes, training methods, and motivational theories such as those by Maslow, Herzberg, and Taylor .