Yr.10 Summary Cards

Question 1

What are the 7Ps of marketing?

Answer 1

-Product
-Price
-Promotion
-Place
-People
-Process
-Physical Evidence

Question 2

Why is Branding important?

Answer 2

It creates identity,builds loyalty and allows premium pricing

Question 3

What are the stages of Product Life Cycle?

Answer 3

Development -> Introduction -> Growth -> Maturity -> Saturation -> Decline

Question 4

What is an extension Strategy? Name 3 of them.

Answer 4

Methods to extend a product’s lifespan
-new features
-new variation
-new markets

Question 5

Name 3 pricing strategies and what they include.

Answer 5

-> Cost-plus Pricing
-Adding a percentage cost over the price of production

-> Penetration Pricing
-Setting low prices below the market to attract customers from competitors

->Skimming Pricing
-When the product in new and innovative,place high prices due to lack of competition,when competition enters the market reduce prices to a bigger market

Question 6

What does SDG 13 focus on?

Answer 6

Climate action -reducing emissions and adopting eco-friendly business practices

Question 7

How does SDG 12 relate to packaging?

Answer 7

SDG 12-Responsible Consumption and Production

It encourages sustainable production,recycling and waste reduction

Question 9

3 methods of Transportation in business?

Answer 9

-Road
-Air
-Sea transport
-Rail
-Inland waterways

Question 10

What is influencer marketing?

Answer 10

Collaboration with social media figures to promote products

Question 11

2 Sources of Business Funding.

Answer 11

Internal -> retained profits,selling of non-current assets
External -> Bank loans,Crowdfunding,Selling shares

Question 12

What does MCCAA (Malta Competition and Consumer Affairs Authority) regulate?

Answer 12

Fair competition
Consumer protection
Product safety

Question 13

What is the role of the MFSA (Malta Financial Services Authority)?

Answer 13

Oversees financial regulation and business operation in Malta