Business 0450 · IGCSE · Marketing, competition and the customer
Marketing, competition and the customer — practice question
Economic growth in country X has opened up many opportunities for new businesses such as TGH. TGH produce a range of personalised mobile (cell) phone cases by using job production. Quality assurance matters to all 8 employees. TGH operate in a niche market. The Marketing Manager uses e-commerce as TGH’s channel of distribution. She is thinking about ways to strengthen customer relationships.
(a)[2]
Define the term ‘economic growth’.
(b)[2]
Define ‘quality assurance’.
(c)[4]
Outline two reasons why building customer relationships could be important to TGH.
(d)[6]
Explain one advantage and one disadvantage for TGH of using job production.
(e)[6]
Do you think cost-plus is the most suitable pricing method for a new business selling products in a niche market? Justify your answer.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “When a country’s GDP is higher than in the previous year” …