Syllabus
How many syllabus dot points are there in Marketing
4
What is the main purpose of marketing?
To inform, satisfy and retain customers while achieving business objectives.
Which business function works with marketing to ensure products are available to customers?
Operations
Which approach focuses mainly on making as many products as possible?
Production approach
Which market involves businesses selling directly to individual customers?
Consumer Market
How many key business functions are studied in HSC Business Studies?
Four
Explain what is meant by the strategic role of marketing.
Long-term planning to satisfy customer needs while achieving business goals and competitive advantage.
Explain one way marketing depends on finance.
Finance provides the budget for advertising, promotion, research and product development
Which approach focuses on aggressive promotion because products do not sell themselves?
Selling approach
Which market consists of businesses buying raw materials?
Resource Market
Name the key business functions are studied in HSC Business Studies?
Finance, Operations, Human Resources and Marketing
State two ways effective marketing contributes to business success.
increasing sales, customer satisfaction, market share, profitability and business growth.
Explain how marketing and operations work together when launching a new product.
Marketing identifies customer needs while operations produces the product to meet those needs.
Explain the difference between the marketing approach and the selling approach.
Marketing identifies customer needs before production; selling focuses on convincing customers to buy products already produced.
Differentiate between a mass market and a niche market.
Mass markets target large groups with similar needs; niche markets target a smaller, specialised segment.
Name the 4 syllabus dot points studied in Marketing
Role, influences, process and strategies
Explain why marketing is considered a strategic business function rather than simply advertising
It influences long-term business decisions, customer satisfaction, profitability and competitive advantage.
Describe how poor communication between marketing and operations could affect a business.
Products may not meet customer expectations, leading to delays, excess stock or lost sales
A company develops products only after researching customer needs. Which approach is being used and why?
Marketing approach because customer needs drive production decisions.
Explain the difference between an industrial market and an intermediate market.
Industrial markets buy goods for production; intermediate markets buy finished goods for resale.
Name 5 Business Objectives studies in HSC course
How does marketing differ in Non-Profit organisations
marketing focuses on informing customers rather than informing and increasing sales
Assess why effective coordination between marketing and the other key business functions is essential.
operations and HR all support marketing objectives and how poor coordination reduces business performance.
Evaluate why businesses today are more likely to adopt the marketing approach than the production or selling approach.
changing consumer expectations, increased competition and the need to satisfy customer needs for long-term success
A luxury watch company sells limited edition watches to wealthy collectors. Identify the type of market and justify your answer.
Niche market because it targets a small, specialised group with unique needs and premium products.