Tiêu đề Section 3.pdf ✅

SECTION 3 Topic 1: What is marketing? 2+3 MARKS (M/J 2020, V2), Q4 (a) Define the term ‘national market’. [2] (b) Explain one advantage to a business of selling in international markets. [3] Answer (a) It encompasses all the buying and selling activities, transactions, and exchanges of goods, services, and resources that occur within the borders of a particular nation. A business that operates in a national market and has branches within one country but not overseas. (b) One advantage to a business of selling in international markets is the potential for increased revenue and market diversification. Expanding into international markets allows a business to tap into new customer bases, reaching consumers with different needs, preferences, and purchasing behaviors. This diversification can act as a risk mitigation strategy, as the business is not solely dependent on the economic conditions of a single country. Therefore, even if sales go down in one country the business continues to operate and survives in in the most difficult economic conditions.
AS / Level – Business (9609) – PAPER 1 – Short-Questions AATIK TASNEEM | AS / LEVEL: BUSINESS (9609) | 03041122845 2 (O/N 2012, V1), Q2 (a) Define the term ‘marketing objectives. [2] (b) Explain one reason why marketing objectives are important for a business. [3] Answer (a) These are targets of the marketing department to help the business achieve its overall corporate objectives. They help to plan the marketing strategy and develop new updating existing products. Example of marketing objectives includes increase market share and increase total sales. (b) One benefit of setting marketing objectives is that it provides a clear direction and purpose for marketing efforts. They serve as strategic outlining of the marketing goals that are align with the overall business strategy. This ensures that the workers understand their goals and allocate resources on achieving these goals effectively. This would result in workers enhancing the likelihood of achieving desired outcomes and contributing to the overall success of the business.