Unit 6 Business Decision Making - level 5 in business

Unit 6 Business Decision Making - level 5 in busines

Task 1

LO1: A

Classification of data

Advantages of primary data collection

Disadvantages of primary data collection

Primary research methods & techniques

Sample Frame:

LO1: B

Secondary data

The advantages of secondary data:

The disadvantages of secondary data:

Government publication and official statistics

Task 2: How much they spend on consumption of coffee in a month.

Task 3: Take proper decision regarding the launch of their new products.

Task 4: Develop the following kinds of information processing tools:

Communication Tools:

System Quality Tools:

Developing a new product:

Generating and screening ideas:

Concept Testing:

Business Analysis:

Development of Product:

Market Testing:

Commercialization and launch:

Project Management:

Forecasts and project appraisal:

Net present Value:

Reflect on the value gained from conducting the project

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