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Marketing Exam Practice Paper 1

Marketing, Competition, and the Customer Exam Practice ✍🏽

LIT Trendz is a public limited company. It makes a range of clothing products including T-shirts and jeans for the mass market.

Last year LIT Trendz’s revenue fell. The Marketing Director has been looking at some results from its primary market research.  10% more customers bought clothing products online this year. LIT Trendz currently has a large customer base. She believes maintaining customer loyalty is more important than attracting new customers.

(e) Do you think maintaining customer loyalty should be more important to a business than attracting new customers? Justify your answer. [6]

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Market Research Exam Practice ✍🏽

TLV is a social enterprise. It sells its high-quality fair-trade tea leaves to retailers in country P. Being ethical is important to TLV. It provides local people with information about micro-finance and skills so they can then start growing tea leaves for TLV to sell for them. TLV wants to export tea leaves as its market research shows increasing demand for tea in other countries.

(c) Identify and explain two factors that might affect the accuracy of TLV’s market research.

Factor 1: …………………………………………………………………………………………………………………

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Explanation: …………………………………………………………………………………………………………..

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Factor 2: …………………………………………………………………………………………………………………….

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Explanation: …………………………………………………………………………………………………………..

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Marketing Mix Exam Practice ✍🏽

LIT Trendz is a public limited company. It makes a range of clothing products including T-shirts and jeans for the mass market.

Last year LIT Trendz’s revenue fell. The Marketing Director has been looking at some results from its primary market research.  10% more customers bought clothing products online this year. LIT Trendz currently has a large customer base. She believes maintaining customer loyalty is more important than attracting new customers.

Explain two advantages to LIT Trendz of using shops as a channel of distribution.

Advantage 1: ………………………………………………………………………………………………………

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Explanation: …………………………………………………………………………………………………………..

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Advantage 2: …………………………………………………………………………………………………………

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Explanation: …………………………………………………………………………………………………………..

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Marketing Strategy Exam Practice ✍🏽

BMV makes cars in country Z. The Managing Director has been looking at BMZ’s financial accounts. He is worried about PBG’s liquidity position. The Managing Director said: ‘New legal controls mean that all cars sold in country Z will have to be electric by 2026. BMV has to find new markets for its existing cars while we develop new models.’ One option for BMV is to form a joint venture with a car manufacturer in another country.

(d) Identify and explain one advantage and one disadvantage to BMV of forming a joint venture.

Advantage: …………………………………………………………………………………………………………..

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Explanation: …………………………………………………………………………………………………………..

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Disadvantage: …………………………………………………………………………………………………………

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Explanation: …………………………………………………………………………………………………………..

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