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Business Studies IEB Exam With Complete Solutions 100% Verified
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Business Studies IEB Exam With Complete Solutions100% Verified
A fuel-company franchise that decides to expand to another country will have to
consider how ethics on an international level could impact the act of the bus. Explain
this statement and use an example to illustrate your answer.
ANSWER
Ethical standards between different countries differ drastically.
The franchise could have opened in a country where there are gross violations of human
rights.
- the franchise will then have to decide how it is to handle this sensitive issue as there
may be the perception that the franchise condones the unethical behavior and
customers may choose to boycott the franchise
-there may be a difference of opinion on whether economic sanctions should be
imposed on the country in which the franchise exists. For instance, Zimbabwe and Iraq
List 3 components of the promotion policy marketing communication of a fuel-company
franchise. - ANSWER * advertising
* publicity
* sales promotion
* personal sales
* word of mouth
* public relations
* events and experiences
* direct marketing
* social media
Justify why marketing is of strategic importance to a bus - ANSWER - marketing can be
defined as the on-going act of the bus to reach the target market LSM
, - the methods the bus utilizes to connect and engage with its target market
- the purpose of this engagement is to convince the market of the value of the
product/service with the aim of selling these products or services and making a profit
- strategically, marketing needs to create and support a strong and positive brand
identity in the market
- through a well planned and well-implemented marketing strategy
- strategic planning include the bus
* generating a vision (an ideal future or long run hope/desire)
* phrasing the vision as a mission statement
* specifying the guiding set of core values (a value statement) that will guide the
implementation of plans to realize its vision and mission
* generating long-term strategies and laying down plans to realize short-term goals that
shall lead to the realization of its long-term objective
- any bus that has a profit motive needs to generate income - with this in mind the
strategic NB of marketing becomes clear
* without a product/service there will be no sales
* the product/service has to bestsellers old at a price that the consumer in the target
market is prepared to pay
* to consummate the sale, the product / service must be made available at a place that is
convenient and accessible to the consumer
* there should be information (promotion) between the bus and the customer so that
he/she is informed of the offering of the product/ service
* everything on the bus must be oriented to generate the sale; this includes people
(workers) and the physical evidence (appearance) of the shop (or online sales platform).
Explain how physical evidence, being one of the elements of the marketing mix, can
allow a fuel company's station to gain a competitive advantage. ANSWER Consideration
must be given to the presentation of the franchise and appearance by the staff members
as this gives customers a sense of quality.
- maintaining an environment that is clean, tidy, friendly and well decorated will help
reassure the consumer of what they are buying
- physical evidence helps to demonstrate and confirm the assumptions of the customer
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