BTEC Business Exam 1 Unit 2 Questions & Answers 2024/2025
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Course
BTEC Business
Institution
BTEC Business
BTEC Business Exam 1 Unit 2 Questions & Answers 2024/2025
Marketing - ANSWERSpromoting a business and what it offers/process of teaching consumers why they should choose product/service of competitors/linked to sales with the intention that a successful marketing campaign will pay dividends
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BTEC Business Exam 1 Unit 2 Questions
& Answers 2024/2025
Marketing - ANSWERSpromoting a business and what it offers/process of teaching consumers why they
should choose product/service of competitors/linked to sales with the intention that a successful
marketing campaign will pay dividends
Anticipating demand - ANSWERSlooking at latest trends to anticipate demand on sales.
Recognising demand - ANSWERSkeeping up to date with competitors and recognising demand for
products/services and trends in consumer behaviour
Stimulating demand - ANSWERSfinding different ways to promote the brand e.g online advertising,happy
hour ,BOGOFs, offering vouchers for product lines from poor sellers.
Satisfying demand - ANSWERSensuring stocks/ capacity can deliver a service that is sufficiently available
to meet any demand generated making sure there is enough stock to cover items for the holidays.
BOGOF - ANSWERSStands for Buy One Get One Free
Happy hour - ANSWERSselling products at reduced prices e,g to encourage customers to stay and eat
when buying a cheaper drink.
marketing aims and objectives - ANSWERSthese consist of: understanding customer wants and
needs,developing new products,improving profitability by reducing costs, increase market
share,diversification, increasing brand awareness and loyalty
market leadership - ANSWERSthe position of a business with the largest market share in a given market
for goods and services
, scattergun approach - ANSWERSidentifying purpose of products/services to establish a target market
product segmentation - ANSWERSdetermined by: age,gender and ethnicity and findings are presented in
a piechart
brand personality - ANSWERSThis can have a major impact of what the customer buys especially if it has
a brand personality e.g sophistication and professional look of certain brands including: L'Oreal
brand image - ANSWERSThis can stick in a customer's mind helping to link to products with a particular
supplier/manufacturer e.g "beanz,meanz,heinz" - most successful advert campaigns ever. strong brand
can portray an image which can bring success.
Once a brand becomes more successful, it can help the business to enter new markets or sell into
existing markets with less risk of failure. if customer is satisfied will purchase again
Different methods to market services/products - ANSWERSthese methods consist of: social media,word
of mouth,email,billboard signs,pens,posters etc.
The future of marketing,mobile marketing and the impact of social media - ANSWERSsocial media has
had a positive impact --> more ways of making advertising cheaper, done digitally, aiming to target a
specific market (considering how valid/reliable to data is)
Primary research - ANSWERSinformation/data taken from the original source/ asking directly e.g surveys
Secondary research - ANSWERSinformation/data taken from a third party/ not directly asking source e.g
reviews
Quantitative data - ANSWERS(opposite of qualitative data) data that can be measured and counted e.g
how many boys are in a class
Qualitative data - ANSWERS(opposite of quantitative data) data that cannot be measured/based on
different opinions e.g what is the food like in the canteen
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