Exam (elaborations)
BTEC TECH AWARD – ENTERPRISE QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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BTEC TECH AWARD – ENTERPRISE QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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BTEC TECH AWARD – ENTERPRISEQUESTIONS AND ANSWERS WITH
SOLUTIONS 2024
- ANSWER
What is promotion? - ANSWER Communication by marketers that informs, persuades, and reminds
potential buyers of a product in order to influence an opinion or elicit a response.
What is the purpose of promotion? - ANSWER inform, persuade, remind.
What is a brand image? - ANSWER A set of beliefs and opinions associated with a product, service or
enterprise in the minds of consumers.
Benefits of PR - ANSWER Free positive publicity from a neutral source such as a newspaper.
Reaches a wide audience.
Improve brand image and sales.
Limitations of PR - ANSWER Enterprise has no control over how journalists may write up the story - If the
story is 'negative' consumers may not want to be associated with brand image.
News story may not be picked up by the media.
Difficult to measure impact on reputation.
Methods of promotion? - ANSWER Advertising, sales promotion, personal selling, public relations, direct
marketing.
What is the purpose of advertising? - ANSWER Inform or persuade.
What is B2B market? - ANSWER An enterprise sells its goods to another enterprise. Also, B2B stands for
business to business.
What is B2C market? - ANSWER An enterprise sells it's products - goods and services - directly to
individuals for their own use.
What are psychographic segments? - ANSWER Likes and dislikes, values, attitudes, interests, lifestyle,
personality.
What is the process of financial documents? - ANSWER Purchase order - delivery note - invoice - receipt -
credit note - statement of account.
What types of payment methods are there? - ANSWER Debit card, credit card, cash, direct debit,
payment technologies, cheque.
What are the main two types of running costs? - ANSWER Fixed costs and variable costs.
Name 4 types of fixed costs? - ANSWER Heating and lighting charges, rent, business rates, insurance.
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