Question 1: Define the term 'target market' and explain its importance in marketing strategies.

Answer: A target market is a specific group of consumers that a business aims to reach with its products or services. It is important because it helps businesses focus their marketing efforts effectively, ensuring resources are directed towards those most likely to buy, which can increase sales and customer loyalty.

Question 2: Identify three methods a new business can use to promote its products or services.

Answer: Methods include social media marketing, distributing flyers or posters, and offering discounts or promotions.

Question 3: Describe how a business can differentiate its product in a competitive market.

Answer: A business can differentiate its product by offering unique features, better quality, superior customer service, or a distinctive branding that makes it stand out from competitors.

Question 4: Explain the concept of branding and why it is important for a new enterprise.

Answer: Branding involves creating a unique identity for a business, including its name, logo, and values. It is important because it helps customers recognize the business, build loyalty, and differentiate it from competitors.

Question 5: Sketch a simple logo design for a new eco-friendly cleaning product. Label the key elements of your design.

Answer: A correct sketch would include a simple, memorable symbol such as a leaf or water droplet, with the product name in clear, bold text. Labels should indicate the eco-friendly theme, simplicity, and recognizability.

Question 6: Describe the difference between advertising and personal selling.

Answer: Advertising is a paid, mass communication method used to promote products to a wide audience through media such as TV, radio, or online. Personal selling involves direct, face-to-face communication between a salesperson and a potential customer, allowing for personalized interaction.

Question 7: Outline two advantages of using social media as a marketing tool for a start-up business.

Answer: Social media allows for cost-effective advertising reaching a large audience quickly, and it enables businesses to engage directly with customers, gather feedback, and build a community around their brand.

Question 8: Identify and explain two factors a business should consider when choosing a location for its shop or office.

Answer: Factors include foot traffic, which affects how many potential customers visit, and proximity to competitors or suppliers, which can influence sales and logistics.

Question 9: Explain the role of market research in developing a marketing plan for a new product.

Answer: Market research helps identify customer needs, preferences, and potential demand. It provides data that informs decisions on pricing, promotion, product features, and distribution channels, reducing the risk of failure.