Download Mr Ward

Leaving Cert Business Honours and Pass.
Please complete all the following tasks as normal. Also please use any bullet points given to guide
you in your answer.
Honours first;
1. 2008 Q 7(c) Marketing/Business in Action.
Evaluate the importance of a “Feasibility study” and “Prototype development”
Pg 225\226 Answers.
Give a definition for Both, Using an example then give the need and advantages for carrying
out such steps in your product development. (15 marks)
2. 2007 Q7 Business in Action. Pg 38 papers
Explain 4 pricing policies for a Business Marketing strategy and apply one to a product of
your choice.
 A “policy” is a rule or guide which a company refers to when deciding on what price
to apply to a product. Remember they don’t usually change their pricing strategies
for each product priced so they have a policy or guideline for staff to follow.
 For this answer,
 Introduction needed outlining that price must cover costs/production, aim to make
a profit, must satisfy demand and must appeal to the intended target market. It
must also consider product positioning. (setting the correct price will do all this)
 Pick 4 strategies .
 Mark up
 Psychological pricing
 Premium pricing
 Price skimming
 Explain each one using an example in each case.
Q7 (B)pg 38 papers.
What is a Marketing Plan?
Evaluate its role in a Business.
Intro......
Marketing Plan, every company planning to sell a new product/service needs to sell it and
satisfy the needs of the target market. In order to do this they have marketing experts whom
devise a Marketing plan to achieve this. This outlines the entire marketing section for the
company.
It includes, ( Definition for each giving examples)
Sources of Internal and External ideas for new products and services.
Development process.
Market research techniques used by the company.
The marketing Mix 4ps
The marketing strategy.
REMEMBER each company may have a different marketing plan. That’s what competition is
about!!! The company with the best marketing plan often sells the most. Being selective and
choosing the best plan and executing it properly is key to sales.
To evaluate then you must give the advantages and disadvantages to a company having one
and not having one. (3x each would be enough.)
3. 2006 Q7 Business in Action pg 47 papers.
Some of this question you may have done. Now consider the following.....
Deirdre wants to start a cosmetic company and you as the marketing advisor must do a
report advising her on a number of areas. To do a report remember you need the following
layout.
Title, date, areas included in the report and small introduction.
(a) Development process..7xsteps each one with reference to her “beauty products”
business.
(b) Importance of Packaging, Branding & product life cycle.
Packaging. Give a definition. Give advice on packaging pg 242
Branding. Definition. Give advice pg 243.
Product life cycle. Outline for her how this works? Name the stages and avise her on
what she would do at each stage.
Remember keep to the point with facts.
(c)The channel of distribution you should have done. Re-evaluate if you need too!
2004 Q7 A,B,C pg 67 papers.
Complete all.
(a) Define Market Research. Give definition.
Reasons why a company would carry it out. Give 4.
(b) Analyse 2 Market Research Techniques for a product of your choice.
Techniques, Desk and field research.
Product: new Coca cola drink. So how would you use the 2 techniques to carry out
market research for the new product.
(c) Advantage for a Business to have a Marketing concept.
A Marketing concept is when a company tries to match its capabilities to consumer
needs. It aims to provide the products/services needed to meet consumer needs.
A company in simple terms survives and operates trying to meet those needs.
Its product development and marketing is all geared towards meeting those needs.
Advantages of this?????
1. Complete focus on the consumer, meeting their needs which may increase sales,
save money etc.
2. Can get close to the target market continuing to meets their needs.
3. Gives the company a clear vision and set of objectives to meet.
4. Gives the company a direct advantage over their competitors.
Work away guys and don’t forget to complete your revision handbook first and
then the questions.
Take time to revise as you go. DON’T just write answers to keep us happy!!!
Happy Xmas!!!
Remember enjoy your few days off and then make your study time and stick by
it!!!
My e-mail is [email protected] if need anything!
Pass students.
Pg 143 Exam papers 2008 Q8
Q8 (a) “Promotion” is one of the 4ps of Marketing. Name the other 3 and
explain one.
Text book.pg 240 on
Q8(c) Draft and Label a product life cycle diagram.
Pg 166 Exam papers.
Q7 (a) Define marketing. (Revision handbook and pg 238 text book.)
Q7 (c) List 3 sources of new product ideas for a business. Pg 220.
Q7 (d) give 2 examples of well known brand names.
(ii) Two benefits of a brand name.
Separate sample questions.
Q. What are the stages involved in the development process of a new product.
Name and explain each of the 7. Pg 224/225 txt book.
Q. Explain the difference between Desk and Field Research.
Give 1 example of each.
Q. What is a survey and how is it used?
Q. What is a Market Niche?
Q. What is Market segmentation?
Q. What is a Marketing Plan?
DON’T FORGET GUYS ALSO TO CORRECT YOUR XMAS EXAMS ALSO AS GIVEN
BEFORE THE HOLIDAYS.
Try your best to take time to study. YOU HAVE LOTS OF TIME OFF SO NO
EXCUSE!
Happy Xmas, sw