Making Marketing Desions 🚀

Question 1

Why Is it good to have a strong brand ? 5)

Answer 1

Gain customer recognition

Associated with positive characteristics

Increase brand loyalty

Customers trust a strong brand

How’s business to charge a premium price

Question 2

How can place be an advantage for a business?

Answer 2

If your business has a highly convenient and visible position to make it more attractive to customers

Question 3

How does price inter link with promotion?

Answer 3

If a business is the low price high volume strategy this means that they have less Costs on promotion

Question 4

How can products influence the price?

Answer 4

We increase the features and function of a product this will have a direct impact on the business is pricing strategy

Question 5

What are the three kinds of production methods

Answer 5

Job – one off bespoke products
focus on customer needs and
individual service specialist skilled workforce
increases cost high profit margins
longer production process

Batch – higher volume of product job production some flexibility
semiskilled work for
some levels of automation pretty
productivity reduces when switching between batches

Flow production – High-volume low margin standardise production looks good workforce setting up expensive machinery increases costs