Marketing
Name a method of field research
Survey, observations, focus groups
Outline 3 defensive reasons for business expansion
Reduce costs, survive economic shocks, reduce risk, protect raw materials, eliminate competition
Unlimited Liability
What is traditionally placed on the top of the Christmas tree?
Star/angel
Illustrate your understanding of a Niche Market?
Smaller segment of a larger market for a specialised product or service
Name two methods of Organic growth
Increasing sales, exporting, licensing, franchising
How many members can form a partnership?
2-20
What is the name of the Grinch’s dog in the film “How the Grinch stole Christmas”?
Max
Illustrate your understanding of a USP
What differentiates the good/service from their competitors
Illustrate your understanding of a strategic alliance
2 or more firms agree to co-operate in the establishment of a project together. Firms remain seperate but agree to come together to share resources to maximise possible success. E.g happy meals (McDonalds-promote food and Disney promote new film)
What is the main difference between a ltd and a plc
Plc can sell shares publicly on the stock exchange
What country is credited with starting the tradition of putting up a Christmas tree?
Germany
Explain 3 different Public relations methods a business could adopt to promote a good corporate image (give examples)
1. Sponsorship
2. Social media
3. Charity Partnership
4. Celebrity endorsements/influencers
Evaluate a Merger as a method of business expansion (3 point, 2 good 1 bad or vice versa)
Negative: Large amount of capital required for takeover bid, hostility, risk of failure
Illustrate your understanding of privatisation
The selling of a state owned company to private investors E.g aer lingos was sold by the Irish government to private investors in 2006
What is the name of Rudolph the reindeer’s Dad?
Donner
Explain the concept of Economies of Scale
Economies of scale are cost advantages realised by companies when production becomes more efficient.
Companies can achieve these by increasing production while lowering per-unit production costs
Contrast Debt capital and equity capital as sources of finance for business expansion (3 differences between them)
Interest must be repaid with Debt capital not equity
Equity capital does not have to be repaid (pay dividends to shareholders instead)
Ownership of business not affected with debt capital, however it is with equity capitalDebt capital = requires collateral
Describe the term ‘Indigenous Business’ in the context of Ireland. Provide at least one example
An Irish-owned business and locally based business that has been established and is owned by Irish residents. Produces g/s in Ireland. E.g Supermacs, Easons
Santa Claus is based on Saint Nicholas, a historical figure. In what modern-day country was he born?
Turkey