3 (a) Which one of the following is a stage in the sales process? Select one answer - Edexcel - GCSE Business - Question 3 - 2020 - Paper 1

To calculate the percentage of total sales revenue made by product X, use the formula:

Substituting the values from Figure 1 (assuming sales revenue of Product X is $X and total sales revenue is$T):

Make sure to round to 2 decimal places.

One drawback of product differentiation is the potential increase in costs. Businesses often need to invest in unique features, branding, and marketing to distinguish their products. This can lead to higher overall expenses, making it harder to compete on price and potentially reducing profit margins.

Increased globalisation can lead to greater competition from foreign businesses. As companies expand into international markets, local firms may face pressure to enhance their offerings and reduce prices to maintain market share. This could affect sales and profitability.

Becoming a public limited company (plc) allows a business to issue shares to the public, raising substantial capital for expansion. However, it also entails certain challenges such as increased regulatory scrutiny and the obligation to disclose financial information publicly. Furthermore, the original owners may lose some control over the company as they have to answer to a larger number of shareholders, which can complicate decision-making processes. On the positive side, increased capital can lead to growth opportunities, but the dilution of ownership can be a significant concern for existing stakeholders.