6(a) State one good that Greggs produces in its factories - Edexcel - GCSE Business - Question 6 - 2022 - Paper 1
Question 6
6(a) State one good that Greggs produces in its factories.
6(b) Outline one benefit to Greggs of being a public limited company (plc).
In order to continue the gro... show full transcript
Worked Solution & Example Answer:6(a) State one good that Greggs produces in its factories - Edexcel - GCSE Business - Question 6 - 2022 - Paper 1
Step 1
6(a) State one good that Greggs produces in its factories.
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Answer
One good that Greggs produces in its factories is cakes.
Step 2
6(b) Outline one benefit to Greggs of being a public limited company (plc).
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Answer
One benefit to Greggs of being a public limited company is that it can issue shares more easily. This makes it easier to raise capital, which can be used for expansion plans, such as opening new shops.
Step 3
6(c) Justify which one of these two options Greggs should choose.
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Greggs should choose to differentiate its product range. By doing so, it can appeal to a broader customer base and meet diverse consumer preferences. This strategy can lead to increased sales and brand loyalty as customers find unique offerings that compete well in the market. Lowering prices may attract customers in the short term, but it might not be sustainable if it affects profit margins and brand value. Differentiating its product range can position Greggs advantageously against competitors, allowing for a unique brand identity while potentially increasing profitability.
