Section I - Multiple Choice (3 Viewers)

[bigSKEAMO1]

So was that stupid question the Selling Approach?

 

[McLovinFanboy]

So was that stupid question the Selling Approach?

Yes

 

[joeyz_da_ak2plz]

Re: production or sellign approach?

it says that "it then runs an advertising campaign to inform people about the product"
if it was a selling approach it would have told people about good features and rammed that home, but no. so im thinking marketing

 

[mitchellwright8]

Fized costs are expenses, whilst variable expenses are COGS, therefore, cost centres influence GP.

Variable expenses are not COGS. COGS relate directly to stock and the product being sold. For example, at McDonald's, beef patties would be COGS. Variable expenses fall in the same category as fixed ones (ie not in COGS), only they increase as the level of production increases. For example, an electricity bill is not a cost of goods sold, but it is a variable expense because it will increase as the business produces more of its products.

 

[Nws m8]

Re: production or sellign approach?

it says that "it then runs an advertising campaign to inform people about the product"
if it was a selling approach it would have told people about good features and rammed that home, but no. so im thinking marketing

u srs? :O

 

[joeyz_da_ak2plz]

no its d

 

[Nws m8]

no its d

A!

 

[McLovinFanboy]

Re: production or sellign approach?

it says that "it then runs an advertising campaign to inform people about the product"
if it was a selling approach it would have told people about good features and rammed that home, but no. so im thinking marketing

100% not marketing

I'm not sure if you are aware but the selling approach contained all aspects of the production approach i.e Taking orders and delivering goods/performing services but added two extra elements which were to train sales forces and employ advertising strategies. Considering this question also contained the words "advertising campaign" it seems only logical that it would be the selling approach and not the production approach.

 

[joeyz_da_ak2plz]

Re: production or sellign approach?

hope so but yee this one was kinda touch `n `go

 

[joeyz_da_ak2plz]

Re: production or sellign approach?

could 4 possibly be a) i reckon this was the most confusing of the lot

 

[Nws m8]

Re: production or sellign approach?

could 4 possibly be a) i reckon this was the most confusing of the lot

+10000000000000000000000000000000000000000000000000000000

 

[mitchellwright8]

I'm really cbs to go through all these posts cause I just got home. Can anyone tell me if my answers are right?
1 D
2 C
3 A
4 B
5 C
6 D
7 A
8 B - I'm not really sure about this one
9 B
10 C
11 C
12 B
13 D
14 C
15 D
16 A
17 A
18 D
19 D
20 B

With the exception of Q8, which even the BOS probably don't know the answer to, everything else is correct.

 

[Examine]

Plus the fact that you cannot reduce fixed costs without overall hindering the business' operations, therefore leading to lower revenue being accumulated.

 

[Nws m8]

With the exception of Q8, which even the BOS probably don't know the answer to, everything else is correct.

lol

 

[jayq94]

i thought fixed costs would affect net profit but not gross profit

 

[louisschirato]

Pretty sure 8 was D. Sale and Lease Back increases revenue hence GP, everything else was expenses which only affects NP

 

[jayq94]

20 was a bit of a stab in the dark, went with C

14 (A) was a bit of an issue as was 4 (B), 6 (D) and 8 (A)

 

[Nws m8]

Pretty sure 8 was D. Sale and Lease Back increases revenue hence GP, everything else was expenses which only affects NP

it was F

 

[Nws m8]

 

[Examine]

"Focuses on finding out what consumers want, which wasnt stated at all in the question."

You're not retarded lol, BUT, the whole bit of the question says they developed a product that CONSUMERS WANT, it's the most 'correct' answer since consumers want clothes that do not stain or crumple. It's promotional. They didn't develop a shirt and advertised it, they developed a UNIQUE shirt and advertised it.

You can't assume that though. The question is positioned in a way which will make you think of that (which is why it was a difficult question) though there is no hard evidence that the business conducted any market research to determine needs and wants.