2012 business marathon (1 Viewer)

[powlmao]

First a few rules.

Mo posting néw questions before the previous one is answered

Post question and topic it is from


Marketing:

Outline the strategic role of marketing in a business

 

[Examine]

The strategic role of marketing is to generate sales through satisfying customer needs.

Marketing:

Describe what a situational analysis' role is.

 

[Examine]

Thread was dead before it even started

 

[Timske]

The role of a situational analysis is to provide businesses an opportunity to examine its current position within the market and a clear picture of where it is heading.

Operations:

Distinguish between reverse engineering and innovation.

 

[Timske]

hello??????

 

[mike12345678]

reverse engineering is where a business takes apart another businesses product and recreates it but also reduces the costs but putting in better or cheaper alternative materials. innovation would be a business that comes up with a genuinely new idea.

finance:
what is the net profit ratio equation and what can it show a business?

 

[powlmao]

Are you up to finance already?

If not can we just keep to what we have done in class

 

[Timske]

finished marketing we up to operations now in class

 

[Examine]

Finished marketing and nearly finished operations

 

[powlmao]

I meant mike.

Why is everyone eveywhete in the syllabus?

 

[Timske]

no idea but my school goes in order cept for maths

 

[Examine]

no idea but my school goes in order cept for maths

So operations?

 

[Boonyak]

Finished marketing and operations up2 finance .

 

[powlmao]

If you have done/doing finance you are going very fast.


In term one (last year) you should of done operations and in term two marketing.

So I guess we can all assume we have knowledge of marketing and operations so let's stick to those questions

 

[king chopper]

Describe two pricing methods and pricing strategies that a business can take

 

[Timske]

Two pricing methods businesses can undertake are cost based pricing method and Market based method. Cost based method occurs when businesses calculates the cost of production and adds that cost to their products. Market based pricing involves businesses determining the levels of supply and demand and sets a price accordingly

Pricing strategies such as loss leaders and price penetration are two techniques that can be used by businesses. Loss leaders is a strategy that offers products for sale at little or no profit so that customers may be enticed to purchase other more profitable products. Price penetration is when businesses sets a lower price than competitors in an attempt to increase its market share.

 

[mike12345678]

I meant mike.

Why is everyone eveywhete in the syllabus?

lol sorry i completely forgot

we had too make notes on the whole cource over the summer holidays so like i pretty much know most of it.

sorry again ill try to stay in operations and marketing for now