Question 1: Define the term 'target market' and explain why it is important for a business to identify its target market.

Answer: A target market is a specific group of consumers a business aims to reach with its products or services. Identifying it helps the business focus its marketing efforts, tailor its messages, and allocate resources effectively to attract the right customers.

Question 2: List three different marketing mix elements and briefly describe how each can influence consumer purchasing decisions.

Answer: Product: Quality, features, and branding can attract customers. Price: Competitive and perceived value can influence buying choices. Promotion: Advertising and sales promotions can increase awareness and persuade customers to purchase.

Question 3: Explain the difference between 'market segmentation' and 'target marketing'.

Answer: Market segmentation involves dividing a broad market into smaller groups with similar needs or characteristics. Target marketing is selecting one or more of those segments to focus marketing efforts on.

Question 4: Describe one method a business could use to gather information about its potential customers.

Answer: A business could conduct surveys or questionnaires to collect data directly from potential customers about their preferences and needs.

Question 5: Sketch a simple diagram demonstrating the marketing process from identifying a target market to delivering the product. Label each stage clearly.

Answer: A flowchart starting with 'Identify target market,' followed by 'Develop marketing mix,' then 'Promote product,' leading to 'Sell to customers,' and finally 'Deliver product/service.' The sketch should show arrows connecting these stages in sequence.

Question 6: Identify and explain two ways a business can differentiate its product from competitors.

Answer: By offering unique features or higher quality that competitors do not provide, and through branding that creates a strong, recognizable identity for the product.

Question 7: Imagine you are launching a new eco-friendly water bottle. Describe two marketing strategies you could use to attract environmentally conscious consumers.

Answer: Highlight the eco-friendly materials and sustainable manufacturing process in advertising. Offer discounts or incentives for recycling used bottles.

Question 8: Sketch a basic logo for an enterprise called 'GreenSip' that sells eco-friendly water bottles. Use your imagination to create a simple and memorable design.

Answer: A correct sketch would include a simple, clean design possibly incorporating a water droplet, leaf, or globe to reflect eco-friendliness, with clear, bold lettering for 'GreenSip.'

Question 9: Explain why it is important for a small business to monitor its competitors' marketing activities.

Answer: Monitoring competitors helps a business identify market trends, avoid their mistakes, find gaps in the market, and develop strategies to differentiate itself and stay competitive.

Question 10: Describe one digital marketing technique a new business could use to reach potential customers online.

Answer: Creating and maintaining social media profiles to engage with customers, share updates, and promote products or services effectively.

Question 11: In your own words, explain what a 'marketing plan' is and list two key components that should be included in it.

Answer: A marketing plan is a document that outlines a business’s marketing objectives, strategies, and actions to reach its target market. Key components include market research analysis and specific marketing activities or campaigns.