Summary Business Studies chapter 6 grade 11
using these summaries of chapter 8 in the grade 11 business studies book in IEB, i got above an 80% in my November exams
Marketing Activities
Activities required to get the product or service from producer to
consumer
● Market research
● Finance
● Insurance
● Transport
● Storage
● Collection and Distribution
● grading and Standardisation
● Selling
, Market Research
Purpose of market research
● Helps to identify the target market, eg; age, income, gender, etc.
● Identifies size of market
● Determines potential customers needs and wants
● Investigate the price that consumers are prepared to pay
● Ideal place of distribution
● Di erent modes of e ective communication for promotion
Methods of Market Research
Telephonic - people are selected at random and asked questions
Questionnaire - can be email
Personal Interview - may be conducted in malls or door to door
Social Media - using tools such as instagram, twitter, tik tok etc
Consumerism
The ability of consumers to influence the actions of the business
The Consumer Protection Act
To protect consumers from evil marketers, to promote social economic
welfare and to assist the historically disadvantaged.
The above will be achieved in various ways
● Promotes consumer education
● Protects consumers from hazards to their own safety and health
● Improving access to quality information, so that consumers can
make informed choices
, Consumer Rights
The right too…
1. Equality
2. Privacy
3. Choose
4. To disclose information
5. Fair and responsible marketing
6. Fair and honest dealing
7. Fairvalue, good quality and safety
8. Fair and reasonable terms and conditions
9. To hold suppliers accountable
The Role of Marketing Manager
Marketing Management involves all decisions regarding marketing
activities that are aimed at achieving the goals of the business.
Variables in the marketing environment
● Manageable variables
- The marketing mix and objectives fall under direct control
of marketing manager
● Semi-manageable variables
- Can be influenced by marketing manager
● Non-manageable variables
- That exists in the external environment
- Eg; legislation, competition, socio economic factors
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