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HSC BUSINESS STUDIES MARKETING EXAM (1 Viewer)

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Hey guys im panicking about my marketing exam in 2 days. I know this is a lot to ask but can anyone run me through the topic, the main things I need to know, and exam tips for writing 4-5 marker questions? Also, could anyone recommend me any questions that I can do to ensure I've covered and know absolutely everything. I need 95% for this exam to make sure I don't get beat by anyone in my year otherwise im stuffed. THANKS
 

jimmysmith560

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The marketing topic is divided into four subtopics, being the role of marketing, influences on marketing, marketing processes and strategies of marketing:
  • The role of marketing component provides an introduction to the marketing function, with a focus on its strategic roles, its interdependence with other key business functions, historical approaches and types of markets. Generally speaking, questions are less likely to target the role of marketing than they are to target the other subtopics. When questions targeting the role of marketing do appear, they usually target the interdependence with other key business functions as well as the types of markets.
  • The influences on marketing component explores the factors that affect the marketing function of a business, including factors that influence customer choice, consumer laws and the ethical aspect of marketing. Questions targeting influences on marketing are more common. Questions that appear often target factors influencing customer choice as well as consumer laws.
  • The marketing processes component examines the common elements involved in developing a marketing plan. Questions targeting marketing processes are quite common and often assess your knowledge of SWOT analyses as well as implementation, monitoring and controlling.
You should have a look at the syllabus document in order to become more familiar with the structure and dot points of the marketing topic, which will also hopefully allow you to quickly recognise the specific part of the syllabus that a particular exam question targets.

Effectively answering short answer questions requires that you understand them first. Part of that understanding is to understand the key word being used and its implication. Each key word will require a different type of answer. For example, an "outline" question requires a brief response and would be of a lower mark value, whereas a "discuss" question requires a more in-depth response covering positive and negative aspects of a particular concept.

This brings us to the need to know and understand the content. Once you are aware of the significance of a key word, all that is left is to recognise the syllabus dot point(s) that a question targets and write your answer accordingly. Of course, being able to recognise the correct syllabus dot point is not sufficient. You also need to be familiar with the content so that you can provide not only the correct information, but also sufficient information for questions with higher mark values.

The following is a set of questions that I created and posted in a previous thread. I would recommend attempting them in addition to any other practice material that is available to you:

Section I:

1. A customer has recently become aware of environmental issues. Because of this, they decided to only buy goods that are environmentally friendly. Which psychological factor is influencing customer choice?

(A) Perception
(B) Beliefs and attitudes
(C) Lifestyle
(D) Personality and self-concept

2. The marketing department of a business recently enquired about the business's budgets for the upcoming quarter. This is an example of interdependence between marketing and which other key business function?

(A) Operations
(B) Human resources
(C) Finance
(D) There is no manifestation of interdependence in this scenario

3. A clothing company sells clothing items that display specific quotes from a particular video game to players of that game. What type of market is this?

(A) Intermediate market
(B) Resource market
(C) Industrial market
(D) Niche market

4. XYZ Technologies is a company that created and introduced a new product into the market. After a few weeks of being released, demand for the product saw substantial increase. Which stage of the product life cycle did the product enter?

(A) Establishment
(B) Maturity
(C) Growth
(D) Renewal

5. An electronics manufacturer sells its products internationally. It provides variants of its products to different countries in order to match different specifications that are unique to each country. What is this an example of?

(A) Customisation
(B) Global branding
(C) Competitive positioning
(D) Physical evidence

Section II:

6. Discuss the use of price skimming as a pricing strategy by a newly established business selling high-quality watches. (6 marks)

7. Isabella owns a medium size restaurant. She wishes to introduce a prestigious dessert to its range of meals and intends on promoting it to attract customers. Explain the interdependence between marketing and the other key business functions in Isabella's business. (4 marks)

8. Explain THREE elements of the promotional mix, using examples where appropriate. (5 marks)

Section III:

9. (20 marks)

Jimmypedia is a book publisher that sells books in Australia. It employs a number of Australian writers. Recently, Jimmypedia hired Serbian writers in order to initiate its entry into the Serbian market and subsequently facilitate its entry into the European market.

You have been hired as a marketing specialist by Jimmypedia to write a report in which you:
  • Evaluate the use of standardisation or customisation as a global marketing strategy
  • Recommend ONE global pricing strategy to be applied to the books that will be sold globally.
Section IV:

10. Analyse the relationship between price and marketing strategies. (20 marks)
I hope this helps! 😄
 
Joined
Jul 6, 2022
Messages
34
Gender
Female
HSC
2023
The marketing topic is divided into four subtopics, being the role of marketing, influences on marketing, marketing processes and strategies of marketing:
  • The role of marketing component provides an introduction to the marketing function, with a focus on its strategic roles, its interdependence with other key business functions, historical approaches and types of markets. Generally speaking, questions are less likely to target the role of marketing than they are to target the other subtopics. When questions targeting the role of marketing do appear, they usually target the interdependence with other key business functions as well as the types of markets.
  • The influences on marketing component explores the factors that affect the marketing function of a business, including factors that influence customer choice, consumer laws and the ethical aspect of marketing. Questions targeting influences on marketing are more common. Questions that appear often target factors influencing customer choice as well as consumer laws.
  • The marketing processes component examines the common elements involved in developing a marketing plan. Questions targeting marketing processes are quite common and often assess your knowledge of SWOT analyses as well as implementation, monitoring and controlling.
You should have a look at the syllabus document in order to become more familiar with the structure and dot points of the marketing topic, which will also hopefully allow you to quickly recognise the specific part of the syllabus that a particular exam question targets.

Effectively answering short answer questions requires that you understand them first. Part of that understanding is to understand the key word being used and its implication. Each key word will require a different type of answer. For example, an "outline" question requires a brief response and would be of a lower mark value, whereas a "discuss" question requires a more in-depth response covering positive and negative aspects of a particular concept.

This brings us to the need to know and understand the content. Once you are aware of the significance of a key word, all that is left is to recognise the syllabus dot point(s) that a question targets and write your answer accordingly. Of course, being able to recognise the correct syllabus dot point is not sufficient. You also need to be familiar with the content so that you can provide not only the correct information, but also sufficient information for questions with higher mark values.

The following is a set of questions that I created and posted in a previous thread. I would recommend attempting them in addition to any other practice material that is available to you:



I hope this helps! 😄
Thank you so much! This was very insightful and well-explained. I am going to give those questions a try too :)
 

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