290334
| Question | Answer |
| Customer Expectations | What customers expect they are going to receive for the service they have paid for. |
| Design Mix | It consists of three aspects Price, Aesthetics and Function. |
| Patent | Registering a new way of making something, so that no one can copy the idea for 20 years. |
| Buffer (Stock) | The minimum stock level held at all times to avoid running out. |
| Retailers | Businesses that sell goods to the public i.e. Shops |
| Stock | Items held by a firm for use of sale. |
| Culture. | The accepted attitudes and practices of a community. |
| Quality Control | Putting measures in place to check that the customer receives an acceptable level of quality. |
| Warranty | The garuntee by the producer that it will repair any faults in a product for a specific period of time - usually one year. |
| Automated | Processes that are fully carried out by machinery rather than people. |
| Productivity | Efficiency, measured by output per worker per hour. |
| Durability | How strong the product is and therefore how well and long it lasts. |
| Monopoly | When there is only one supplier, i.e. no competition one company has the market to itself. |
| Red Tape | Implies tangling firms up in too may rules and regulations; stifling them. |
| Sales of Goods Act | Goods must be fit for purpose for which they are sold, fit for purpose means free from defects, the appearance and durability. |
| Trades Description Act | It is an offense to use false or misleading statements, label foods and services and wrongly and can lead to fines or jail. |
| Consumer Credit Act | Ever item sold o credit must have a clear indications of the APR - the annualized percentage interest rate - being charged. |
| Weights and Measures Act | If the bag says 500 grammes, that is what it must contain. |
| Food Safety Act | To prevent illness from eating food sold to the public by insisting that sales staff have hygiene training and that premises are inspected regularly. |
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