Banking and Finance:

- Banking and finance support trade through payment methods, loans, and financial services.
- Three types of banks: central bank, merchant banks, commercial banks.
- Commercial banks serve individuals and businesses with deposits, payments, loans, and advice.

Bank Account Types:

- Deposit/Savings account: Deposits with interest.

- Current/cheque account: Payments, deposits, services.

Benefits of Current Account:

- Immediate cash access, deposits/withdrawals, ATM usage.

- Interest on credit, overdraft, telephone banking.

Trends in Banking:

- Banks are complex global entities.

- Internet banking and cashless societies are significant trends.

Mobile and Digital Banking:

- Mobile banking on smartphones, beneficial in remote areas.

- Push and pull transactions, 24/7 availability.
- Benefits: Convenience, lower costs, more services.

Mobile Wallet and Cashless Society:

- Mobile wallet stores digital payment methods.

- Cashless society replaces cash with electronic systems.
- Pros: Convenience, speed, suitability.
- Cons: Hacking, overspending, costs.

Implications of Online Banking:

- Banks: Fewer staff, enhanced security, fewer branches.

- Customers: More choices, easier switching, security risks.

Means of Payment - Home Trade:

1. Cash: Accepted legal tender.

2. Cheques: Written orders for payment.
3. Credit Transfer/Bank Transfer.
4. Standing Order: Regular bill payment.
5. Direct Debit: Variable payments.
6. Debit Cards: Immediate payments within limit.
7. Credit Cards.
8. Bank Drafts: Safer unfamiliar transactions.

Means of Payment - International Trade:

1. Electronic Transfers: Fund transfers between countries.

2. Letter of Credit: Guarantees payment upon proof of goods.

Choosing a Means of Payment:

Consider: Amount, distance, speed, due date, acceptability, safety, additional costs.

Importance of Communications in Trade and the Global Market:

- Communication: Sending and receiving messages.

- Crucial in the market for various reasons.

Importance in the Market:

1. Connects distant buyers and sellers.

2. Speeds up contracts, bills, documents.
3. Provides quick access to information.
4. Links businesses with banks.
5. Supports international trade growth.
6. Expands product reach to global markets.
7. Boosts staff productivity.
8. Enhances business image.
9. Manages businesses with multiple branches.
10. Saves time and costs.

Rapid and Accurate Communication:

- Essential as the world connects more.

- Barriers hold back effective communication.

Methods of Communication:

1. Face-to-Face:
- Direct talking.
- Discussions, instant feedback.
 - In-person or phone.

2. Written:
- Letters, emails.
- Records, planned replies.
- Complex info, visuals.

3. Telephone:
- Quick one-on-one talk.
- Immediate decisions.

4. Electronic:
- Mobile phones, internet.
- Quick, global reach.

Factors in Choosing:

- Urgency, message, audience, cost.

- In/outsider organization.
- Record, accuracy, relationship.

Postal Services:

- Stamps, collect, deliver mail.

- Airmail, registered post.
- Factors: urgency, value, cost, quantity.

Trends in Communication:

- Computing devices: laptops, smartphones.

- Social media: blogs, networks.
- Effects: more info, productivity, investments, trade.

Role of Advertising - Key Points:

1. Advertising: Persuading consumers to buy goods and services.

2. Public Relations: Positive media coverage and image improvement.
3. Public Image: How a business is seen by the public.
4. Informative Advertising: Sharing facts.
5. Persuasive Advertising: Encouraging purchases.
6. Collective Advertising: Industry group promotions.
7. Promotion: Selling products, including offers.
8. Competitive Advertising: Brand promotions.
9. Media: Platforms for ads.
10. Target Audience: Desired customers.
11. Sales Promotion: Boosting sales with offers.
12. Method of Appeal: Associating products with relatable ideas.

Introduction to Advertising:

- Persuades to buy products.

- Aims: inform, persuade, remind.
- AIDA formula: Attention, Interest, Desire, Action.

Objectives of Advertising:

1. Increase Sales.
2. Introduce New Products.
3. Provide Information.
4. Promote Brand.
5. Create Image.
6. Promote Outlets.

Types of Advertising:

1. Informative: Raising awareness.

2. Persuasive: Emotional influence.
3. Competitive: Asserting superiority.
4. Collective: Industry group ads.

Advantages of Advertising:

1. Higher sales, profits.

2. Successful product launches.
3. Important information.
4. Empowered customer choices.
5. Improved product quality.
6. Competitive pricing.

Disadvantages of Advertising:

1. High costs.
2. Passed on to consumers.
3. Encourages impulse buying.
4. Potential for misinformation.

Advertising Media:
- Media directs ads to customers.
- Different media target different audiences.
- Effective media is economical, repeatable, appealing, wide-reaching.

Forms of Advertising Media:

1. Broadcast Media (TV, Radio, Cinema):

- Advantages: Wide reach, impact, emotions.
- Disadvantages: High cost, short exposure, less control.

2. Printed Media (Newspapers, Magazines, Leaflets):

- Advantages: Tangible, targeted, reference.
- Disadvantages: Limited visuals, readership decline.

3. Outdoor Media (Posters, Billboards, Transport):

- Advantages: High visibility, continuous exposure, cost-effective.
- Disadvantages: Short message, brief exposure, limited retention.

4. Electronic Media (Digital Billboards, Internet, Email, Mobile):

- Advantages: Wide online reach, interactive, analytics.
- Disadvantages: Short attention span, ad blockers, intrusion.

5. Other Media (Trade Fairs, Sponsorships, Window Displays):

- Advantages: Direct engagement, experiential, brand associations.
- Disadvantages: Limited reach, costly, effort to stand out.

Transportation:

Importance of Transportation:

- Moving goods, people, materials between places.

- Vital for trade, globalization.
- Methods: land, water, air.

Methods of Transportation:

1. Land Transport:
- Road, rail, pipeline.
- Used for domestic trade.
- Advantages: flexibility, door-to-door, accessibility.
- Disadvantages: slow, fuel costs, traffic.

2. Water Transport:
- Sea, waterways (canals, rivers).
 - Ideal for overseas.
- Advantages: cost-effective, ports.
- Disadvantages: slow, damage, weather.

3. Air Transport:
- Speed, safety.
- For valuable, urgent goods.
- Advantages: speed, safety, accessibility.
- Disadvantages: cost, capacity, weather.

Different Modes of Transport:

1. Road: Bicycles, cars, buses, trucks.

2. Rail: Trains.
3. Aircraft: Planes, helicopters.
4. Ships: Ferries, cargo ships.

Factors Affecting Transport Choice:

- Cost, safety, speed, goods, urgency, distance, accessibility.

Warehousing:
Importance of Warehousing:

- Storing goods.
- Various functions for businesses.

Functions of a Warehouse:

- Raw material storage, protection, stockpiling.

- Preparation for sale, supply balancing.
- Collection, distribution, special facilities.
- Breaking bulk, inspection.

Importance to Businesses:

- Store goods, support just-in-time production.

- Enhance delivery speed, reduce costs.
- Handle seasonal demand.

Types of Warehouses:

1. Bonded Warehouses: Durable goods before duty.

2. Cold Storage Warehouses: Perishable items.
3. Cash and Carry Warehouses: Self-service wholesaling.
4. Manufacturer/Retailer Warehouses: Store materials, finished goods.
5. Other Types: Primary producer, transport, government warehouses.
Documents of Home Trade:

Importance of Commercial Documents:

- Commercial documents record transactions.

- Features: date, buyer/seller details, terms, reference.

Why Used:

- Trade on credit, communication, comparison.

- Records, quality assurance, avoid mistakes.
- Settle disputes, legal evidence, prevent fraud.

Types of Documents in Home Trade:

1. Enquiries:
- Buyers ask about goods/services.
- Availability, terms, quantity.

2. Quotations:
- Seller's reply with details.
- Price, terms, time limit.

3. Catalogues:
- Lists products.
- Item details, prices.

4. Price Lists:
- Prices, discounts, terms.

5. Orders:
- Buyer's purchase request.
- Terms, details.

6. Invoices:
- Seller's bill for credit purchase.
- Product details, price.

7. Advice Notes:
- Notice of sent goods.
- Quantity, dispatch.
8. Delivery Notes:
- Sent with goods, details.

9. Credit Notes:
- Issued for errors, returns.

10. Statements of Accounts:

- Monthly credit statement.

11. Receipts:
- Proof of payment.

Computerization of Transactions:

- Computer processing for documents.

- Faster, cheaper, accurate.
- Easy storage, retrieval, referencing.

Consumer Protection:

Importance of Consumer Protection:

- Choices, global goods, complexity.

- Influence of advertising, displays.

Consumer Protection Definition:

- Safeguarding fair deals.

- Laws, agencies, labels, organizations.
- Quality, safety, fair trading, competition.

Methods of Consumer Protection:

1. Consumer Laws:
- Quality, safety, prices, accuracy.

2. Fair Trading Agencies:

- Promote fair practices.

3. Product Labels:
- Fair trade marks for standards.

4. Industry Organizations:
 - Ensure quality.

5. Independent Consumer Organizations:

- Advocate, inform.

6. Codes of Practice:
- Ethical standards.

7. Consumer-focused Magazines:
- Offer advice.

8. Guarantees and Warranties:

- Protect against faults.

9. Media Programs:
- Inform consumers.

Importance of Consumer Protection:

- More purchases, higher risk.

- Fraud, technical products, unfair marketing.