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AQA AS Business Studies Unit2 - 19th January 2012

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I'm reallly stuggling with the marketing mix! I understand the P's, it's just how to write about them and link to the case study in a question that I can't do. Any help?!

In price you got stuff like the strategies (skimming, penetration, leaders) and pricing tactics (psychological). You also have stuff like elasticity and influences on pricing (competitors action, legislation, market research)

In product you can talk about USP (and how it benefits the business - more customers, etc). You got the Boston Matrix (cash cows, dogs, star, problem child) and the product life cycle.

In promotion you have elements of promotion, PR branding, advertising, sales promotion.

In place you got outlets of distribution (direct, wholesaler, retailer, franchising) and distribution channels (intensive, exclusive and selective)

All of these have good vocab that you can use in answering the questions.

Reply 21

Lakhvir.Singh

Original post by darkblue

Resitting as well. Remember to relate absolutely EVERYTHING to the case study. Technology hasn't come up in a while, nor has the difference between cash flow and profit. I'm thinking variances might be the calculation equivalent or hopefully labour productivity.

Mind helping me on the difference between cash flow and profit. I really hope technology comes up - easy marks for me :colondollar:

Please and thanks!

Reply 22

SBradford

Original post by Lakhvir.Singh

Mind helping me on the difference between cash flow and profit. I really hope technology comes up - easy marks for me :colondollar:

Please and thanks!

Profit is total revenue - total costs
Cash flow is the money coming in and out of the business that changes on a daily basis.

Reply 23

tehonlyone

For the 13 mark questions, how many points should I include. 2 For and 2 Against followed with a conclusion?

Reply 24

Lakhvir.Singh

What is more important in this exam? Technique and application, or content?

Reply 25

darkblue

This may help:
APPLICATION
Good application can be demonstrated in three ways.
1. By combining data.
2. By manipulating data.
3. By being consistently in context. An answer may not demonstrate either of the above
characteristics, but it may be in context throughout with each argument related to the scenario.

For application to be creditworthy, it must be used as part of a relevant argument. Some candidates
simply copy out part of the case. This should not receive credit.

ANALYSIS
Good analysis is shown when a candidate develops a chain of argument with a clear focus on the
question.
Reasonable analysis is shown through less developed chains of argument or those with a less clear focus on the question.

EVALUATION
The driving force behind the award of evaluation marks is the quality of evaluation included in the
answer and not the Quality of Written Communication. The key is the extent of the support for a judgement. Evaluative comments may be offered throughout a response and may support a
judgement fully. The decision on the Quality of Written Communication should be used to adjust a mark within the level selected on the basis of the candidate’s evaluation.

Reply 26

darkblue

Let's make this thread come to life!

Would anyone like to tell us some advantages and disadvantages of using budgets?

Reply 27

SBradford

Original post by darkblue

Let's make this thread come to life!

Would anyone like to tell us some advantages and disadvantages of using budgets?

They can be used as a motivating factor, but they can be difficult to monitor. Also, if they are set too unrealistically it could result in de-motivation.

Reply 28

tehonlyone

Haha, I was just reading that topic.

Advantages:
- They can motivate staff
- They provide a sense of direction and coordination
- They can improve the efficiency

Disadvantages:
- They are difficult to monitor
- Savings may be made in places where it is not in the best interest of the particular firm
- Allocations can be incorrect due to external factors and may need to be changed.

Reply 29

helpmekid

Whats the Definition of Quality Control and the Adv and Dis?

Reply 30

darkblue

Budgets are in the bag!

Who wants to give us the formula's for net and gross profit?

Reply 31

helpmekid

Net Profit: Total Revenue - Total Costs

Gross Profit : Total Revenue - Cost of Raw Material

Reply 32

darkblue

What causes cash flow problems and how can business' improve cash flow?

Reply 33

Lakhvir.Singh

Original post by darkblue

Let's make this thread come to life!

Would anyone like to tell us some advantages and disadvantages of using budgets?

ADVANTAGES:

- Improves financial control - reduces overspending, better forecasting ability and more efficient allocation of money
- Delegates spending power - motivates staff
- Sets targets and goals - improves cash flow forecasting, allows performance to be monitored.

DISADVANTAGES:

- Potential for conflict - short term saving may be detrimental to long term objectives, may be too easy or too hard to achieve
- May be restrictive - opportunities may be missed, inappropriate cost cuts
- Time consuming to set and monitor

Reply 34

SBradford

Original post by helpmekid

Whats the Definition of Quality Control and the Adv and Dis?

Quality control - identifying problems with the product
Quality assurance - making sure those problems don't happen in the first place.

Ad - Redsuces amount of defective products.
Dis - Time consuming, costly, might increase waste (if the measures are strict)

Reply 35

SBradford

Original post by darkblue

What causes cash flow problems and how can business' improve cash flow?

Causes cash flow problems:

little profits/revenue
over-trading
seasonal demand
unforeseen changes

Improve cash flow:

increase revenue (sell more, reduce costs)
bank loan
overdraft
factoring
sale of assets
sale and leaseback

Reply 36

tehonlyone

Original post by helpmekid

Whats the Definition of Quality Control and the Adv and Dis?

Quality control is a system that uses inspection as a way of finding faults in the good otr service.

Adv: As there is an inspection of the product, it can prevent faulty products reaching the customer

It can detect common problems throughout the organisation

Dis: It can be expensive caling out an external inspection team

Can't think of any more disadvantages