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. It 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.
AS / Level – Business (9609) – PAPER 1 – Short-Questions AATIK TASNEEM | AS / LEVEL: BUSINESS (9609) | 03041122845 3 (M/J 2017), Q4 (a) Define the term ‘demand’. [2] (b) Explain one factor that could influence the demand for restaurant meals. [3] Answer (a) Demand is regarded as the willingness and ability of consumers to buy goods and services at given prices over a given period of time. (b) One factor that could influence the demand for restaurant meals is changes in consumer income levels. When individuals experience an increase in disposable income, they are often more willing to spend on dining out and exploring restaurant options. Higher incomes may lead consumers to view restaurant meals as a convenient and enjoyable way to satisfy their dining preferences, contributing to an increase in demand for restaurant services. Conversely, during economic downturns or periods of reduced income, consumers may cut back on discretionary spending, including dining out, leading to a potential decrease in demand for restaurant meals. Therefore, shifts in consumer income levels play a significant role in influencing the demand dynamics within the restaurant industry.
AS / Level – Business (9609) – PAPER 1 – Short-Questions AATIK TASNEEM | AS / LEVEL: BUSINESS (9609) | 03041122845 4 (O/N 2012, V3), Q2 (a) Define the term ‘supply’. [2] (b) Explain one factor that could influence the price of rice. [3] Answer (a) It is regarded as the willingness and the ability of sellers to sell goods and services at various prices over a period of time. (b) One factor that that influence the price of rice would the supply of rice which is influenced by the weather. Rice is a highly weather-sensitive crop, and factors such as droughts, floods, storms, or extreme temperatures can have a significant impact on the quantity and quality of rice harvests. Adverse weather conditions can lead to reduced yields and supply shortages, causing an increase in rice prices. Conversely, favorable weather conditions, such as ample rainfall and moderate temperatures, can contribute to bumper harvests, leading to an abundance of supply and potentially causing a decrease in rice prices.