With Government support, Amelia has recently launched YOGO as a new business. YOGO produces a selection of sweets (candy) aimed at adults, so it operates in a niche market. Amelia has been reviewing the marketing section of her business plan and must choose a pricing method. She is spending a great deal on packaging. She did not carry out any primary market research because she believes secondary data will be enough for her decisions. She thinks every adult enjoys sweets.
(a)[2]
Identify two reasons a Government may choose to back business start-ups.
(b)[2]
Identify two sections of a business plan that are not related to marketing.
(c)[4]
Identify and explain two pricing methods that Amelia could choose.
(d)[6]
Identify and explain two reasons packaging matters for YOGO’s products.
(e)[6]
Do you think Amelia’s business would gain from primary market research? 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: “Lower unemployment” …