Current Issues
Define pester power
The ability of children to pressure their parents into buying them products, often seen through advertisements
True or false: placement is considered a selling technique which businesses use to promote a product
True
Portraying women as cooks and men with power tools in advertisements
Gender Stereotypes
What is a target market?
A specific group of potential customers who a business aims to reach with its products or services.
Nike
Identify two benefits of using social media as a form of advertising
Cheap, access a large quantity and range of people, effective at targeting young people, easy to use, can access internationally from local area, increased brand awareness
What role does branding have in the selling process?
It helps a product stand out in the market and makes it easier for consumers to remember.
What does CSR stand for?
Corporate Social Responsibility
Name the two types of market research
Primary, Secondary
What was the topic of your first commerce lesson for this term?
Enterprise skills
Identify one thing advertisers must not do when advertising to children
Portray images that show unsafe use of goods / services, be misleading, include sexual images or increased sexuality, images that may scare children, promote unhealthy habits, illegally use popular personalities
How does ordering in bulk benefit the consumer?
It reduces the price of the goods and allows consumer to order large quantities easily
Identify 3 ways in which you can differentiate your product
Service, Quality, Packaging, Value, Convenience, Price, Customisation, Location
Name 5 common characteristics the mass market can be segmented on
Age, gender, income level, educational background, geographical location, lifestyle, family structure, culture, interests
How much did your class make as a whole from your market stall ($10 either side)
Yr 10 - $780
Yr 9 - $680
What should you do if you believe an ad is untruthful or targeting vulnerable consumers
Make a complaint to the Australian Standards Bureau (ASB) or the Australian Competition and Consumer Commission (ACCC)
Identify one feature of McDonalds packaging that benefits the business
Simple design, golden arches logo, bright colours, easy to store and serve quickly,
A strategy focused on building and maintaining long-term, mutually beneficial connection with customers, rather than solely focusing on individual transactions
Name 2 promotion strategies targeting young people
Building brand loyalty, Internet and social media, Pester power, Psychology and research, Buzz marketing
Creating a table to evaluate profit is known as
Profit and loss statement or income statement
Name the two main issues Indigenous artworks face regarding fair use
Artworks being inauthentic, Artwork designs being stolen
Identify a factor impacting contemporary selling techniques (that comes under the syllabus)
Technology, social media, global markets and government regulations
Define the term greenwashing
When a company lies to make itself, its products or services seem more environmentally friendly, sustainable or ethical than they are
Collecting data without consumers consent is known as an I _ _ _ _ _ _ _ of P _ _ _ _ _ _.
Invasion of Privacy
As a collective, both yr 9 & 10, what % return on investment did we see on our $325 initial investment. e.g) $325 profit would be 100%. (40% either side)
446%