BBT produces a variety of breakfast cereals. One of BBT’s aims is to behave ethically towards every stakeholder. The Marketing Director has been examining BBT’s marketing strategy for some of its products. BBT applies competitive pricing. She believes that product A, one of its well-known brands, is now at the decline stage of the product life cycle. She is unsure what action to take over product A.
(a)[2]
What does the term ‘marketing strategy’ mean?
(b)[2]
Identify two reasons why a business sets objectives.
(c)[4]
Identify and explain two ways in which BBT could act ethically.
(d)[6]
Identify and explain one advantage and one disadvantage to BBT of using competitive pricing.
(e)[6]
Do you think BBT should stop selling product A? 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: “A plan to use the right combination of the marketing mix to reach an objective” …