11_0450_12_2016

Question 1

what is meant by ‘marketing strategy’

Answer 1

plan to combine 4 elements of the marketing mix to achieve a particular market obj

Question 2

penetration pricing

Answer 2

setting price lower than competitor in the introduction state of a product

Question 3

Pros of ADs

Answer 3

• raise awareness
• attract customer
• build brand loyalty
• maintain market share
• remind existing customers
• able to target different customer

Question 4

Pros and cons of buying direct from manufacturers

Answer 4

pros

• cut out wholesaler profit
• manufacturer may pay for Ads
• develop products specially for business
• offer technological support
• build relationship with suppliers

cons

• more paperwork
• wide range of products which takes more time to finish
• risk of wastage
• have to recruit more people
• extra space cost
  
  • -> must purchase min quantity

Question 5

quality control

Answer 5

checking the standard of product at the end of production process

Question 6

job production

Answer 6

produce individualized product individually

Question 7

improve efficiency

Answer 7

• increase in capital intensity/automation( benefit form economies)
• just in time( reduces inventories; lower cost)
• Kaizen
• improve quality control/ assurance
• training ( work faster)
• specialization ( skilled workers; less need for rework)
• improve communication
• better management
• improved motivation

Question 8

pros of skilled workers

Answer 8

• less training ➪ lower cost
• makes less mistakes/higher quality ➪ less waste ➪ less inventory
• more output ➪ meet any increase in customer demand
• wore quicker/ more efficient/ more productive
  ➪ lower unit cost
• brand image ➪ good reputation
• less supervision ➪ manager do other jobs
• more flexible workforce ➪ able to switch between stage of production