This is your complete guide to GCSE Business Studies fundamentals,... Show more
Business
English Literature
Biology
SociologySign up to see the contentIt's free!
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
720
•
27 Dec 2025
•
OCR Business Paper 1 Study Mindmap
E
Eleanor Gunthorpe
@eleanorgunthorpe_kwpc
Business Fundamentals & Market Research
Ever wondered how businesses figure out what you actually want to buy? Market research is the key - it's how companies discover customer needs and test their ideas before spending loads of money.
There are two main types of data collection. Primary research means gathering fresh information directly from customers through surveys, interviews, or focus groups. It's expensive but gives you exactly what you need. Secondary research uses existing data like government statistics or industry reports - it's cheaper but might not be perfectly suited to your specific business.
Quantitative data deals with numbers and facts that are easy to analyse, whilst qualitative data focuses on opinions and feelings that give deeper understanding. Most successful businesses use both types to get the complete picture.
Quick Tip: Remember that questionnaires are cheap and reach lots of people, but interviews give much richer detail about what customers really think.
Business Growth & Market Share
Businesses can grow in two main ways, and understanding this could help you analyse any company's strategy. Organic growth happens internally through increasing sales, attracting new customers, or launching new products. Inorganic growth involves mergers (businesses joining together) or takeovers (one business buying controlling interest in another).
Market share measures how much of the total market a business controls compared to its competitors. It's calculated by looking at a company's sales as a percentage of all sales in that industry. Companies with larger market share typically have more influence over pricing and market trends.
The marketing mix (often called the 4 P's) helps businesses position their products effectively: Product, Price, Place, and Promotion. Getting this combination right determines whether customers will actually buy what you're selling.
Pricing & Distribution Strategies
Setting the right price can make or break a business, and there are several clever strategies companies use. Price skimming means starting with high prices then gradually lowering them - think of how gaming consoles launch. Penetration pricing does the opposite, starting low to attract customers quickly, then raising prices once you've built market share.
Distribution channels determine how products reach customers. Traditional routes go from producer to wholesaler to retailer to consumer, but digital distribution allows businesses to sell directly online. This cuts costs but doesn't work for all types of products.
Understanding target markets helps businesses focus their efforts. Companies segment markets by demographics like age, gender, location, and lifestyle to create more effective marketing campaigns that speak directly to specific customer groups.
Revenue, Costs & Profit Calculations
Here's where the maths gets important for your exams! Revenue is the total money a business receives from sales, calculated as: Sales Price × Quantity Sold = Revenue. This is different from profit - revenue is just the money coming in before any costs are deducted.
Fixed costs stay the same regardless of how much you produce (like rent or insurance), whilst variable costs change with output levels (like raw materials). Total costs = Fixed Costs + Variable Costs. Understanding this helps explain why businesses need to reach certain sales levels to become profitable.
Gross profit = Revenue - Cost of Sales, and Net profit = Gross Profit - Operating Expenses. These calculations are fundamental for analysing business performance and appear frequently in GCSE questions.
Exam Hack: Always show your working clearly in profit calculations - even if your final answer is wrong, you can still earn marks for using the correct method.
Business Ownership Structures
Choosing the right business structure affects everything from liability to tax obligations. Sole traders are owned by one person, easy to set up, but carry unlimited liability - meaning personal assets are at risk if the business fails.
Partnerships involve 2-20 people sharing profits and responsibilities. They should create a deed of partnership outlining profit-sharing arrangements. Like sole traders, partners face unlimited liability for business debts.
Limited companies (Ltd) offer limited liability protection, meaning shareholders only risk losing their investment, not personal assets. Public limited companies (PLCs) can sell shares to the general public and are often household names like Google or Tesco.
Stakeholders are anyone with an interest in the business - internal stakeholders include owners and employees, whilst external stakeholders include customers, suppliers, and the local community. Successful businesses balance the needs of different stakeholder groups.
We thought you’d never ask...
What is the Knowunity AI companion?
Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.
Where can I download the Knowunity app?
You can download the app from Google Play Store and Apple App Store.
Is Knowunity really free of charge?
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
Most popular content: Business Planning
Most popular content in Business
Most popular content
Can't find what you're looking for? Explore other subjects.
Students love us — and so will you.
4.9/5
App Store
4.8/5
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
OCR Business Paper 1 Study Mindmap
E
Eleanor Gunthorpe
@eleanorgunthorpe_kwpc
This is your complete guide to GCSE Business Studies fundamentals, covering everything from market research and marketing strategies to business ownership structures and financial calculations. These concepts form the backbone of understanding how businesses operate, grow, and succeed in today's... Show more
Business Fundamentals & Market Research
Ever wondered how businesses figure out what you actually want to buy? Market research is the key - it's how companies discover customer needs and test their ideas before spending loads of money.
There are two main types of data collection. Primary research means gathering fresh information directly from customers through surveys, interviews, or focus groups. It's expensive but gives you exactly what you need. Secondary research uses existing data like government statistics or industry reports - it's cheaper but might not be perfectly suited to your specific business.
Quantitative data deals with numbers and facts that are easy to analyse, whilst qualitative data focuses on opinions and feelings that give deeper understanding. Most successful businesses use both types to get the complete picture.
Quick Tip: Remember that questionnaires are cheap and reach lots of people, but interviews give much richer detail about what customers really think.
Business Growth & Market Share
Businesses can grow in two main ways, and understanding this could help you analyse any company's strategy. Organic growth happens internally through increasing sales, attracting new customers, or launching new products. Inorganic growth involves mergers (businesses joining together) or takeovers (one business buying controlling interest in another).
Market share measures how much of the total market a business controls compared to its competitors. It's calculated by looking at a company's sales as a percentage of all sales in that industry. Companies with larger market share typically have more influence over pricing and market trends.
The marketing mix (often called the 4 P's) helps businesses position their products effectively: Product, Price, Place, and Promotion. Getting this combination right determines whether customers will actually buy what you're selling.
Pricing & Distribution Strategies
Setting the right price can make or break a business, and there are several clever strategies companies use. Price skimming means starting with high prices then gradually lowering them - think of how gaming consoles launch. Penetration pricing does the opposite, starting low to attract customers quickly, then raising prices once you've built market share.
Distribution channels determine how products reach customers. Traditional routes go from producer to wholesaler to retailer to consumer, but digital distribution allows businesses to sell directly online. This cuts costs but doesn't work for all types of products.
Understanding target markets helps businesses focus their efforts. Companies segment markets by demographics like age, gender, location, and lifestyle to create more effective marketing campaigns that speak directly to specific customer groups.
Revenue, Costs & Profit Calculations
Here's where the maths gets important for your exams! Revenue is the total money a business receives from sales, calculated as: Sales Price × Quantity Sold = Revenue. This is different from profit - revenue is just the money coming in before any costs are deducted.
Fixed costs stay the same regardless of how much you produce (like rent or insurance), whilst variable costs change with output levels (like raw materials). Total costs = Fixed Costs + Variable Costs. Understanding this helps explain why businesses need to reach certain sales levels to become profitable.
Gross profit = Revenue - Cost of Sales, and Net profit = Gross Profit - Operating Expenses. These calculations are fundamental for analysing business performance and appear frequently in GCSE questions.
Exam Hack: Always show your working clearly in profit calculations - even if your final answer is wrong, you can still earn marks for using the correct method.
Business Ownership Structures
Choosing the right business structure affects everything from liability to tax obligations. Sole traders are owned by one person, easy to set up, but carry unlimited liability - meaning personal assets are at risk if the business fails.
Partnerships involve 2-20 people sharing profits and responsibilities. They should create a deed of partnership outlining profit-sharing arrangements. Like sole traders, partners face unlimited liability for business debts.
Limited companies (Ltd) offer limited liability protection, meaning shareholders only risk losing their investment, not personal assets. Public limited companies (PLCs) can sell shares to the general public and are often household names like Google or Tesco.
Stakeholders are anyone with an interest in the business - internal stakeholders include owners and employees, whilst external stakeholders include customers, suppliers, and the local community. Successful businesses balance the needs of different stakeholder groups.
We thought you’d never ask...
What is the Knowunity AI companion?
Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.
Where can I download the Knowunity app?
You can download the app from Google Play Store and Apple App Store.
Is Knowunity really free of charge?
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
7
Smart Tools NEW
Transform this note into: ✓ 50+ Practice Questions ✓ Interactive Flashcards ✓ Full Mock Exam ✓ Essay Outlines
Mock Exam
Quiz
Flashcards
Essay
Most popular content: Business Planning
Most popular content in Business
Most popular content
Can't find what you're looking for? Explore other subjects.
Students love us — and so will you.
4.9/5
App Store
4.8/5
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user