INNOVATION AND MARKETING
NAME THE FOUR P's OF THE MARKETING MIX
PRODUCT
PRICE
PLACE
PROMOTION
IDENTIFY THE THREE BUSINESS STRUCTURES
SOLE TRADER, PARTNERSHIP, COMPANY
IDENITFY THE THREE ECONOMIC INDICATORS
GDP
INFLATION
UNEMPLOYMENT
DEFINE QUESTIONS ARE USALLY WORTH HOW MANY MARKS
1
WHAT WAS THE NAME OF THE FOLDER WHERE ALL PREVIOUS EXAMS CAN BE FOUND
MEGAN PENN FOLDER
DISAD: HIGH RENT
AD: HIGHER HOURLY RATE (CASUAL LOADING)
DISAD: NOT ENTITLED TO ANNUAL LEAVE, SICK LEAVE
WHAT SYSTEM ANSWERS THE THREE ECONOMIC QUESTIONS THROUGH STRICT GOVERNMENT CONTROL?
COMMAND
WHICH TASK WORD INVOLVES SIMILARITIES AND DIFFERENCES
COMPARE
WHICH BUSINESS EMPLOYS MORE PEOPLE IN AUSTRLIA
MCDONALDS OR COLES?
COLES
EXPLAIN PLANNED OBSOLESENCE AND GIVE ONE EXAMPLE OF A BUSINESS USING THIS STRATGEY
Planned obsolescence is a purposeful strategy to ensure the current version of a product will become out of date or useless within a known time period. EG: APPLE
OUTLINE ONE WAY GLOBALISATION HAS POSTIVELY AFFECTED BUSINESSES.
BIGGER MARKETS AND CUSTOMER BASE. ONLINE ADVERTISING, SHOPPING.
ACCORDING TO THE LAW OF DEMAND, IF PRICE INCREASES, THEN _________________
QUANTITY DEMANDED DECREASES
DETAILING STRENGTHS AND WEAKNESSES IS ASSOCIATED WITH WHICH TASK WORD.
EVALUATE
THURSDAY 17TH NOV
11AM - 12.30PM
THE NEW XBOX IS ABOUT TO BE RELEASED. IDENTIFY WHICH PRICING STRATGEY IS BEST SUITED AND JUSTIFY YOUR ANSWER.
PRICE SKIMMING.
THE PRICE CAN BE LOWERED ONCE THE LATEST MODEL BECOMES MORE OUTDATED AND DEMAND DECREASES.
DESCRIBE SUPERANNUATION AND IDENTIFY WHAT IS THE MINIMUM AMOUNT OF SUPER AN EMPLOYER MUST PAY TO AN EMPLOYEE
A compulsory system where an employer must place a minimum percentage of your income into a fund to support your financial needs in retirement.
10.5%
IF THERE IS AN INCREASE IN DEMAND. WHICH DIRECTION DOES THE CURVE SHIFT?
SHIFTS RIGHT
WHAT DOES THE TASK WORD JUSTIFY REQUIRE YOU TO DO
GIVE EVIDENCE/REASON WHICH SUPPORTS THE DECISION YOU MADE.
MR PORTO IS KNOWN FOR BEING A SUPERSTAR IN WHICH SPORT.
TEN PIN BOWLING
PROVIDE TWO ADVANTAGES OF A BUSINESS IMPLEMENETING EFFECTIVE CSR (CORPORATE SOCIAL RESPONSIBILTY) STRATEGIES
BUSINESS REPUTATION COULD SIGNIFICANTLY IMPROVE LEADING TO CUSTOMERS/SALES INCREASING.
THE FOLLOWING ARE ALL BENEFITS OF ____________?
Leads to lower costs & prices
Easy access to information
Improved lifestyle (health, entertainment, education)
24/7 workplace
Levels the playing field between new and existing businesses
Technology Advancements
EXPLAIN WHY UNEMPLOYMENT IS BAD FOR THE ECONOMY
- Need government funds (social security) to support them, thus affecting government spending.
- Do not earn an income, and do not pay tax and therefore don’t provide the government with income.
OUTLINE HOW YOU WOULD CORRECTLY APPROACH THE FOLLOWING DISTINGUISH QUESTION TO ACHIEVE FULL MARKS.
DISTINGUISH THE KEY DIFFERENCE BETWEEN A GOOD AND SERVICE (3 MARKS)
1) DEFINE GOOD
2) DEFINE SERVICE
3) OUTLINE KEY DIFFERENCE
SOLVE THE SCRAMBLED WORD
RODLKEESTAH
STAKEHOLDER