Business GCSE
Risk reduction
What Risk reduction means in Business GCSE, as defined for AQA.
Definition of Risk reduction
Check what you remember
Read the wording for your board, then hide it and explain Risk reduction in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The purpose of market research is to reduce the risk of business decisions by finding out what customers want and what competitors offer.
Topics that use Risk reduction
- The purpose and methods of market research (AQA GCSE)
Related terms
- Business decision making
- Calculation skills
- Closed questions
- Competition
- Competitor analysis
- Costs and benefits of research
- Customer needs
- Data interpretation
Using Risk reduction in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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