LCBusiness ClassTest Marketing

www.thebusinessguys.ie

Short Questions – answer both

The following information is supplied by Canon Ltd. - Forecasted Output (Sales) 60,000 units - Fixed Costs €48,000 - Selling price per unit €5 - Variable Costs per unit €2 Using the information provided calculate the following: (show formula and workings where applicable) (a) Total Revenue at forecasted output (b) Total Costs of production at forecasted output (c) Profit at forecasted output (d) Breakeven point (BEP) in units Distinguish between Personal Selling and Public Relations as forms of promotional techniques used by a business

LCBusiness ClassTest Marketing

www.thebusinessguys.ie

Long Question - Answer either Q1 or Q2 Q1 (A) Illustrate the Marketing Mix for a product of your choice (25 marks) Grafton Barber operate 23 barber shops in Ireland, mainly cutting men’s and children’s hair, as well as doing hot towel shaves and offering complimentary drinks to customers. They’ve added in Fussball tables and have TVs on for customers as they wait. They accept online bookings, to help reduce waiting times for customers. (B) (i) Define Market Research (ii) Evaluate three types of Field Research a barber shop might use (20 marks) (C) What are three factors a barber shop like Grafton Barbers might consider when setting the selling price for their product (15 marks) --- OR --- Q2 (A) (i) What is a ‘Product Life Cycle’? (ii) What are three ways a business like Apple could extend the Product Life cycle for the iPhone? (20 marks) (B) Evaluate the importance of ‘product design’ and ‘product packaging’ for Apple when selling their iPhones (20 marks) (C) Illustrate three ways Apple could segment their market for selling iPhones (20 marks)

LCBusiness PostExamReflection

www.thebusinessguys.ie

PostExamReflection-Marketing E.gMarksAwarded

64%

Markslostfromlackofkeywords/knowledge

12%

Markslostfornotreading/answeringthequestionasked(LinkingQasked)

0%

Markslostforleavingoutknowledgeyouknew/developinganswers(lackofre-reading/doublecheckinganswerwritten)

8%

Markslostduetolackofunderstanding(includinggraphs)

6%

Markslostfortimemanagement/notrunningoutoftime

0%

MarkslostforExammanagement(notgivingheadings/notenoughpoints)

10%

Total 100%RatetheimportanceofthefollowingtoimproveyourgradeTimespentstudyingnotesNotimportant–Ofsomeimportance–Important–Areatofocuson/practiseTimespentpractisingexamquestionsNotimportant–Ofsomeimportance–Important–Areatofocuson/practiseTimespentpractisingquestionsorpartsofundertimepressureNotimportant–Ofsomeimportance–Important–Areatofocuson/practiseTimespentlookingovermarkingschemestoseewheremarksaregivenNotimportant–Ofsomeimportance–Important–Areatofocuson/practiseIncreasingoverallstudytimespentonEconomicsfromtotaltimeavailableNotimportant–Ofsomeimportance–Important–Areatofocuson/practiseWhatoneareaswillItrytoimproveoninmynexttest?HowwillIdoit? Name: TargetScore: