Savemyexam Questions

Question 1

Identifying and understanding Customers

Explain one way retail businesses satisfy customer needs and want?[ 2 marks}

Answer 1

A retail business is a company that sells products or services to consumers for personal use.
By operating in convenient location[1]
It is easy to replace or return goods. [1]

Question 2

Identifying and understanding customers

State one common obejective of customers in relation to quality.[1]

Answer 2

Duarbility [1]
Easy to use [1]
Good design [1]

Question 3

Identifying and understanding customers. [Medium]

Explain one reason why it is important for a business to identify customer needs. [2]

Answer 3

So that the business cannot produce products that are undesired by customers [1]which will save resources.[1]

Question 4

Market segmentation. [Medium]

Explain one way in which a business can segment a market?[2]

Answer 4

A business could segment the market by age as this would allow them to target marketing activities at, for example particular generation of customers.

Question 5

Market segmentation

Explain one benefit to businesses segmenting the market?

Answer 5

One benefit is that businesses can focus on promotional activity so it can convince targeted audience to buy a specific range of product.

This will be less wasteful than
campaigns that lack focus and may not grab the interest of those most likely to buy from the company.

In this way, marketing budgets can be smaller saving money to invest in research and development of new ranges.