Business Studies Collins Revision Guide. - StudyGuide.PK

Check yourself answers14 MARKETING MIX (PAGE 65)1 A combination of the marketing mix (1) that is product,price, promotion and place (1) used to meet the business’sobjectives. (1)2 Diversification (1)SCORE3 By using trade marks. (1) This is an example of an externallegal influence on business behaviour.4 Price discrimination Charging below the costprice to attract people intothe storeCreamingCharging different amountsfor the same product todifferent groups of consumersPenetration pricingCharging a high price for anew productLoss leadersCharging a very low price toget a share of the market(4)5 The Advertising Standards Authority. (1)6 False. (1) One advertisement is produced on behalf of thewhole industry.7 It can be targeted at a particular group of customers (1) and islikely to be re-read as it is published monthly. (1) Rememberthat the advertisement must be appropriate to the productand within the amount that the business can afford to spend.8 The main disadvantage is the cost. (1)9 Handling complaints well. (1)Being polite to the customer at all times. (1)Allowing exchanges of goods. (1)10 Breaks bulk (1) by buying from the producer and selling tothe retailer (1)11 From producer to consumer. (1)115TOTAL