Business Unit 1 and 3

Question 1

Mission statement

Answer 1

its overall purpose or main corporate aims (to motivate)

Question 2

Aim

Answer 2

Overall what a business wants to achieve

Question 3

Objective

Answer 3

Short term steps to achieve its aims

Question 4

Corporate / Strategic objectives

Answer 4

goals of a business as a whole

Question 5

Functional ( department ) objectives

Answer 5

Objectives for each department

Question 6

SMART

Answer 6

Specific Measurable Achievable Realistic Time-Specific

Question 7

Ordinary Share Capital

Answer 7

Money raised by selling shares

Question 8

Market Capitalisation

Answer 8

total value of all ordinary shares issued by a company
Market Cap. = No. Issued Shares * Current Share Price

Question 9

( Share ) Rights Issued

Answer 9

issuing existing shareholders a right to buy additional shares at a discounted price before releasing to the stock market

Question 10

Influences on share price

Answer 10

Current share price, Performance, Rumours, Interest Rates, Economy

Question 11

Marketing objectives

Answer 11

targets that a marketing department sets which are valuable to achieve overall objectives, tend to focus on sales

Question 12

Market research examples

Answer 12

Questionnaire, Observation, Interview, Survey, Focus group

Question 13

Pricing strategies

Answer 13

Cost-Plus Pricing, Penetration Pricing, Pricing Skimming, Competitive Pricing

Question 14

Types of promotion

Answer 14

Persuasive and Informative
Above-the-line - paid advertising
Below-the-line - other types of promotion

Question 15

Marketing Mix

Answer 15

Price
Product
Place
Promotion
People
Process
Physical Environment / Evidence