3.4.1 Justify marketing strategies appropriate to a given situation: • Importance of different elements of the marketing mix in influencing consumer decisions in given circumstances • Recommend and justify an appropriate marketing strategy in given circumstances 3.4.2 The nature and impact of legal controls related to marketing: • Impact of legal controls on marketing strategy, e.g. misleading promotion, faulty and dangerous goods 3.4.3 The opportunities and problems of entering new foreign markets: • Growth potential of new markets in other countries • Problems of entering foreign markets, e.g. cultural differences and lack of knowledge • Benefits and limitations of methods to overcome such problems, e.g. joint ventures, licensing *Unit 3 review sample questions and answers

3.3.3 Place – distribution channels: • Advantages and disadvantages of different channels, e.g. use of wholesalers, retailers or direct to consumers • Recommend and justify an appropriate distribution channel in given circumstances 3.3.4 Promotion: • The aims of promotion • Different forms of promotion and how they influence sales, e.g. advertising, sales promotion • The need for cost-effectiveness in spending the marketing budget on promotion 3.3.5 Technology and the marketing mix: • Define and explain the concept of e-commerce • The opportunities and threats of e-commerce to business and consumers • Use of the internet and social media networks for promotion *Unit 3 review sample questions and answers

3.3.1 Product: • The costs and benefits of developing new products • Brand image; impact on sales and customer loyalty • The role of packaging • The product life cycle: main stages and extension strategies; draw and interpret a product life cycle diagram • How stages of the product life cycle can influence marketing decisions, e.g. promotion and pricing decisions 3.3.2 Price: • Pricing methods (benefits and limitations of different methods), e.g. cost plus, competitive, penetration, skimming, and promotional • Recommend and justify an appropriate pricing method in given circumstances • Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; importance of the concept in pricing decisions (knowledge of the formula and calculations of PED will not be assessed *Unit 3 review sample questions and answers

3.2.1 The role of market research and methods used: • Market-orientated businesses (uses of market research information to a business) • Primary research and secondary research (benefits and limitations of each) • Methods of primary research, e.g. postal questionnaire, online survey, interviews, focus groups • The need for sampling • Methods of secondary research, e.g. online, accessing government sources, paying for commercial market research reports • Factors influencing the accuracy of market research data 3.2.2 Presentation and use of market research results: • Analyse market research data shown in the form of graphs, charts and diagrams; draw simple conclusions from such data *Unit 3 review sample questions and answers

3.1.1 The role of marketing: • Identifying customer needs • Satisfying customer needs • Maintaining customer loyalty • Building customer relationships 3.1.2 Market changes: • Why customer/consumer spending patterns may change • The importance of changing customer needs • Why some markets have become more competitive • How businesses can respond to changing spending patterns and increased competition 3.1.3 Concepts of niche marketing and mass marketing: • Benefits and limitations of both approaches to marketing 3.1.4 How and why market segmentation is undertaken: • How markets can be segmented, e.g. according to age, socio-economic grouping, location, gender • Potential benefits of segmentation to business • Recommend and justify an appropriate method of segmentation in given circumstances sample questions and answers

2.4.1 Why effective communication is important and the methods used to achieve it: • Effective communication and its importance to business • Benefits and limitations of different communication methods including those based on information technology (IT) • Recommend and justify which communication method to use in given circumstances 2.4.2 Demonstrate an awareness of communication barriers: • How communication barriers arise and problems of ineffective communication; how communication barriers can be reduced or removed Questions and suggested answers

2.3.3 Why reducing the size of the workforce might be necessary: • Difference between dismissal and redundancy with examples • Understand situations in which downsizing the workforce might be necessary, e.g. automation or reduced demand for products • Recommend and justify which employees to make redundant in given circumstances 2.3.4 Legal controls over employment issues and their impact on employers and employees: • Legal controls over employment contracts, unfair dismissal, discrimination, health and safety, legal minimum wage

2.3.2 The importance of training and the methods of training: • Importance of training to a business and to employees • Benefits and limitations of induction training, on-the-job training and off-the-job training Questions and suggested answers

2.3.1 Recruitment and selecting employees: • Recruitment and selection methods • Difference between internal recruitment and external recruitment • Main stages in recruitment and selection of employees • Recommend and justify who to employ in given circumstances • Benefits and limitations of part-time employees and full-time employees Questions and suggested answers

• Simple hierarchical structures: span of control, levels of hierarchy, chain of command • Roles and responsibilities of directors, managers, supervisors, other employees in an organisation and inter-relationships between them 2.2.2 The role of management: • Functions of management, e.g. planning, organising, coordinating, commanding and controlling • Importance of delegation; trust versus control 2.2.3 Leadership styles: • Features of the main leadership styles, e.g. autocratic, democratic and laissez-faire • Recommend and justify an appropriate leadership style in given circumstances 2.2.4 Trade unions: • What a trade union is and the effects of employees being union members sample questions and answers

Why people work and what motivation means • The benefits of a well-motivated workforce: labour productivity, reduced absenteeism and labour turnover • The concept of human needs, e.g. Maslow’s hierarchy • Key motivational theories: Taylor and Herzberg 2.1.2 Methods of motivation: • Financial rewards, e.g. wage, salary, bonus, commission and profit sharing • Non-financial methods, e.g. job enrichment, job rotation, teamworking, training, opportunities for promotion • Recommend and justify appropriate method(s) of motivation in given circumstances Sample questions and answers

PPT covering: Need for business objectives and the importance of them Different business objectives, e.g. survival, growth, profit and market share Objectives of social enterprises Main internal and external stakeholder groups Objectives of different stakeholder groups How these objectives might conflict with each other, use examples Questions and suggested answers

PPT Covering: Why the owners of a business may want to expand the business Different ways in which businesses can grow Problems linked to business growth and how these might be overcome Why some businesses remain small Why some (new or established) businesses fail: Causes of business failure, e.g. lack of management skills, changes in the business environment, liquidity problems Why new businesses are at a greater risk of failing Questions and suggested answers

PPT covering: Methods of measuring business size, e.g. number of people employed, value of output, capital employed (profit is not a method of measuring business size) Limitations of methods of measuring business size

PPT covering: Characteristics of successful entrepreneurs Contents of a business plan and how business plans assist entrepreneurs Why and how governments support business start-ups, e.g. grants, training schemes

PPT covering: • Basis of business classification, using examples to illustrate the classification • Reasons for the changing importance of business classification, e.g. in developed and developing economies

PPT covering the following: • Concepts of needs, wants, scarcity and opportunity cost • Importance of specialisation • Purpose of business activity • The concept of adding value and how added value can be increased