BUSINESS MANAGEMENT

3° Bachillerato

BUSINESS QUESTIONNAIRE

Topic: Marketing
Units: 4.5 – 4.7
Date: May 2, 2023

1. What is marketing mix? (p. 264)

It is the key element of a marketing strategy that ensure the successful marketing of a product
2. List the four Ps. (p. 293)
- Product
- Price
- Place
- Promotion
3. What is product? (p. 293)
It is any good or service that is offered to the market with the aim of satisfying costumers
need and wants
4. Use a figure to identify the stages of the product life cycle. (pp. 293-295)

Development: The product is designed

Introduction: The product is launched
Growth: Sales volumes and revenues start to increase significantly
Maturity: Sales continue rising but slowly
Saturation: Competitors have entered the market
Decline: Drop in sales

5. What are extension strategies? Write two strategies. (p. 296)

It refers to attempt by firms to stop sales from falling by extending the product life cycleat the
maturity or saturation stages.
- Find new uses for the product
- Change the product packaging

6. BCG Matrix
Market share es el porcentaje total de ventas de la empresa dentro del mercado
Market Growth es el valor total de ventas de un producto
BUSINESS MANAGEMENT
3° Bachillerato

Stars: productos exitosos en el mercado que generan bastantes ventas

Cash cows:
Question mark: bastantes ventas
Dogs: generan pocos ingresos con productos no exitosos

7. Use one example to explain the BCG Matrix strategies. (p. 299)
Holding strategy: they focus in products with a high market share in order to mantein their
current position in the market. Iphones

Building strategy: this centers on turning question marks into stars

Harvesting: they mil the benefits of products with a positive cash flow
Divesting: the dogs are sold of

8. What is branding? Give two real examples. (pp. 300-301)

Brand is a symbol, name, or sign. Branding is the process of distinguishing one business
product to another.
Mc Donald’s, uses colours that are striking
Nike: Just do it

9. What is packaging? Give two real examples. (p. 302)

It is the design of the physical container of a product
Coca cola glass bottle
Happy meal by Mc Donald’s

10. What is price? (p. 303)

It is the money customers pay for using a good or service

11. Use a table to identify the price strategies. Then explain them using one real example
(pp. 303-306)

Strategy Explanation Example

Mark up pricing
Penetration pricing
Skimming
Psychological pricing
Loss leader
Price discrimination
Adding an average to the Sandwich cost 1 dollar but
product production for the product it is sell to
125
First the product has a low IKEA
price to gain consumers and Hamburger
then the price grow
The business set high prices A phone
at the beginning.
How pricing affects 2.99
consumer perception of the
value of a product
Set a low price below its Products on the market that
average cost are going to expire
Selling a product in different A female product is sold
BUSINESS MANAGEMENT
3° Bachillerato

prices for each group cheap to women than men

Competitive pricing A business set the prce H y m
according to their Zara
competitors

12. What is promotion? (p. 307)

It is the process of communicating information of a business product to the consumer

13. Make differences between above-the-line and below-the-line promotion. (pp. 307-309)
Above-the-line is a paid form of communication that uses social media to reach their
audience, while below-the-line is a form of communication when a business has direct control
over its promotional activities without using social media.

14. List the factors to be considered in promotional mix. (p. 309-310)

- Cost
- Legal framework
- Target market
- Stage in the product of life cycle
- Type of product

15. Use a Venn diagram to identify the benefits and limitations of new technology on
promotional strategies. (pp. 311-312)

Wide reach accesibility problems

engagement distraction
Market information lurkers
cost savings
Brand recognition
speed

16. Use two real examples of guerrilla marketing, then identify the method. (pp. 312-314)
Product give-away: when a brand made a give-away of a ticket for a cncert and they promote
they brand

Roach baiting: commercial of Pantene and Selena Gomez

17. What is place? (p. 315)

It refers to how the product reaches consumers.

18. List the channels of distribution. (p. 316)

- Zero intermediary
BUSINESS MANAGEMENT
3° Bachillerato

- One intermediary
- Second intermediary

19. Define people? (p. 320)

They are human capital, necessary in the production of goods and services

20. What are processes? (p. 321)

The procedures and policies pertaining on how an organization/s product is delivered

21. Identify four ways to improve processes. (p. 322)

- Speed of the delivery
- Provide varied payment methods
- Provide technical support
- Inform the time that a product will take to be prepared

22. Use a picture to explain the physical evidence of a business of your choice. (p. 322)
Perfume free samples

23. What is international marketing? (p. 326)

It is marketing of good and services across national boundaries

24. Use a bubble map to identify the methods of entry into international markets. (p. 326)

- Internet
- Exporting
- Direct investment
- Joint venture
- International franchising

25. Use a spider map to identify the opportunities and threats of entry into international
markets. (pp. 327-328)
Opportunities
- A larger market
- Diversification
- Enhanced
- Gaining economic of scale
- Forming new business relationship

Threats

- Social
- Technological
- Economic
- Ethical
BUSINESS MANAGEMENT
3° Bachillerato

- Political
- Legal
- Ecological

26. What is e-commerce? (p. 334)

It refer to the buying and selling of goods and services through electronic networks

27. List the types of e-commerce. (p. 335)

- Business-to-business (B2B)
- Business-to-consumers (B2C)
- Consumers-to-consumer (C2C)

28. Identify one benefit of e-commerce for firms and consumers. (p- 336)
Consumers: location comfort
Firms: reduced wastage on paper

Let’s analyse (80-100 words) – OWN WORDS

1. Considering a food business organisation of your choice, evaluate how new technologies
are having an impact on its promotional strategies? (pp. 310-312)

2. Explain the following quote “got the right people in the right seat of the bus” (Lominé,
2014, p. 320).

3. What is the cultural impact of this advertisement about the new role of women in Saudi
Arabia? (p. 330)
BUSINESS MANAGEMENT
3° Bachillerato

(dreamstime, 2020)