CXC CSEC Principles of Business Exam Guide
Profile 2: Production, Marketing and Finance
Section 6: Marketing
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SPECIFIC OBJECTIVES
The students should be able to: |
CONTENT |
| 1. |
Distinguish between the terms market and marketing;
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Definition of market and marketing |
| 2. |
Identify marketing activities;
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Marketing activities:
(a) market research
(b) pricing
(c) packaging
(d) branding
(e) sales promotion
(f) advertising
(g) distribution
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| 3. |
Describe the "marketing mix";
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Marketing mix:
(a) product
(b) price
(c) place
(d) promotion
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| 4. |
Explain the concept of market and market research;
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Market research:
(a) concept;
(b) definition;
(c) types.
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| 5. |
Outline the reasons for conducting market research;
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Reasons for conducting market research. Identification of:
(a) consuumer taste;
(b) competition;
(e) consumer behaviour.
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| 6. |
Describe the factors that influence consumer behaviour;
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Factors that influence consumer behaviour:
(a) price;
(b) price of substitutes
(c) quality;
(d) taste;
(e) tradition;
(f) income (affordability)
(g) spending patterns;
(h) brand loyalty
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| 7. |
Identify main types of market structures;
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Market structures:
(a) perfect competition;
(b) monopoly;
(c) monopolistic competition;
(d) oligopoly.
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| 8. |
Explain how price is determined;
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Pricing: determinants of price:
(a) demand and supply;
(b) concept of equilibrium price or market clearing price.
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| 9. |
Identify forms of packaging and presentation of goods;
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Packaging:
(a) presentation;
(b) use of brand names.
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| 10. |
Explain the concept of copyright; |
Concept of copyright:
(a) producers or entrepreneurs: tose who maintain ownership and control over the product they have created and registered by obtaining a patent;
(b) consumers: those who may purchase the product but cannot reproduce it for commerical purposes without permission of the producer.
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| 11. |
Explain the term patent;
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Concept of patent including the concept of franchisee who is given a patent or official permission to reproduce the product.
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| 12. |
Describe methods of promoting sales;
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Methods of promoting sales:
(a) advertising:
(i) functions and forms
(ii) promotion including trading stamps and coupons;
(iii) loss leaders.
(b) public relations including business entertainment and the offering of special awards and sponsorship;
(c) sales promotion;
(d) personal selling.
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| 13. |
Identify the techniques of selling;
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Selling:
(a) salesmen and their approaches
(b) merchandising and adjusting of pricing policy;
(c) methods of maintaing good customer -firm relationships, for example, after sales services.
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| 14. |
Explain the various terms of sales;
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Terms of sale:
(a) cash;
(b) credit;
(c) hire purchase;
(d) cash and trade discounts.
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| 15. |
List the functions of consumer organizations;
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Functions of consumer organizations:
(a) The rights and protection of consumers (private organizations and government);
(b) The role of the Bureau of Standards;
(c) role of the Ombudsman.
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| 16. |
Identify the links in the chain of distribution; |
The distribution chain:
(a) manufacturer;
(b) wholesaler;
(c) retailer;
(d) consumer.
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| 17. |
Identify methods of retailing; |
Methods of retailing:
(a) shops;
(b) department stores;
(c) mail order;
(d) e-commerce;
(e) tele-marketing;
(f) vending machines.
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| 18. |
List the various forms of transport; |
Forms of transport:
(a) land;
(b) air;
(c) sea.
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| 19. |
Explain the importance of transport in marketing; |
Importance of transport in domestic regional and foreign trade.
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| 20. |
Distinguish among the methods used for transporting specific goods; |
Methods of transporting specific goods:
(a) oil and gas- pipelines and tankers;
(b) timber - rivers and barges;
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| 21. |
Identify the problems likely to be encountered in distribution; |
(a) Relationship betwen the availability of airport, harbour and docking facilities and the efficient distribution of goods;
(b) Problems of distribtion: delayed shipment, spoilage, misdirection of goods, inadequate wharehousing facilities, lack of proper security measures, industrial unrest, ineffective communication.
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| 22. |
Outline measures to mitigate problems in distribution. |
Measures to mitigate problems of distribution. |
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Not done
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