· What are the 3 external factors that affect brand identity?

- Customers, suppliers and competitors

What are two ways you can reward loyal customers

Loyalty Cards, Targeted promotions

1. What are one advantage and one disadvantage of internal recruitment?

A) No hiring cost, you might have to hire someone anyway.

What is the definition of human resource planning?

A) The development of strategies to meet the business’s future HR needs

How could I extend the the life of a product at the end of the PLC

Product Diversification or Graphic Diversification

· What’s the 80/20 principle?

- 80% of sales come from 20% of customers

Name one disadvantage of generating a customer database

It can be time consuming to make, It can be costly to make and maintain

1. What is purpose work safe Victoria?

A) To ensure workers have a safe work environment.

Pick one advantage and disadvantage to using social media in marketing

you can reach a lot of followers, you can't control what people are saying

1. What are the employment arrangements?

A) Permanent full time, casual, fixed term, permanent part time.

1. Which of the following is not an example of a policy?

A formal warning will be issued

What are one advantage and one disadvantage of external recruitment?

wider range of applicants, it is more expensive

1. Which of these are three national employment standards?

A) Parental leave, maximum weekly hours, public holidays.

Which of these is not a customer relations strategy

providing poor customer service

Jim is trying to hire someone for his mowing business that can do the job well and efficiently. What's the best solution

A) Hire Mr. Don, A) Work testing.

Name three purposes of packaging

Protect the product, inform the customer, promote the product

Which of these is not a benefit of an induction process

Gives employees too much to think about

Name an advantage of using overseas suppliers

Being able to source materials not available locally, Cheaper products

Which of these scenarios does not relate to flexible working conditions

getting eight weeks holiday a year

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Business Management Sem 2 Exam Revision 2021

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Questions 36

Answers

1
· Primary data is collected by
- Yourself
- Somebody else
Another business
Someone else in the business for a different purpose
2
· What are the 3 external factors that affect brand identity?
- Customers, suppliers and managers
- Customers, suppliers and competitors
3
What are two ways you can reward loyal customers
Loyalty Cards, Competitor Promotions
Loyalty Cards, Targeted promotions
Loyalty Cards, Competitor Promotions
Targeted Promotions, Price Increases
4
1. What are one advantage and one disadvantage of internal recruitment?
A) Can lead to jealousy and conflict, applicants are unknown to business
A) wider range of applicants, Employee will be against change
A) No hiring cost, you might have to hire someone anyway.
A) Employee is known to the business, expensive
5
What is the definition of human resource planning?
A) Achieving the right amount of time for work and personal life
A) The development of strategies to meet the business’s future HR needs
A) a summary of what the worker will be doing, including their roles
A) The process of acquainting new employees with a business and the job
6
How could I extend the the life of a product at the end of the PLC
Increase the price
Enhance a competitors product
Product Diversification or Graphic Diversification
Product extension or Geographic extension
7
which of these is unpaid by the business
publicity
advertising
8
· What’s the 80/20 principle?
- 20% of sales come from 80% of customers
- 20% of sales goes back into the business and 80% goes to the owner
- 20% of profit goes to the owner and 80% goes back into the busines
- 80% of sales come from 20% of customers
9
1. What is an advantage of Cash Flow management?
Discover Revenue
Catch Thieves
Gain Employees
Lose Money
10
Name one disadvantage of generating a customer database
It helps keep in touch with customers and build loyalty
It's easy to communicate with customers
It can be time consuming to make
It can be costly to make and maintain
11
1. Which one of the following is not a financial control system?
Customer management
Cash Flow Management
Auditing
Budgeting
12
1. What is purpose work safe Victoria?
A) The answer is red
A) Don’t know
To prevent road accidents
A) To ensure workers have a safe work environment.
13
Pick one advantage and disadvantage to using social media in marketing
It's cheap, more people read the paper than surf the web
It's expensive, you can't control what people are saying
you can reach a lot of followers, you can't control what people are saying
You can gain loyal followers, It's cheap
14
Which of the following things does product packaging NOT do?
Help protect, preserve and promote the product
Have the ability to create a sense of luxury
Inform about the product
Damage the product
15
1. What are the employment arrangements?
A) Permanent part time, permanent casual, full time fixed term
A) Fixed term, permanent full time, permanent, full time
A) Permanent full time, casual, fixed term, permanent part time.
A) Casual, Permanent part time, permanent terms, fixed term
16
1. Which of the following is not an example of a policy?
All staff are treated with respect
No financial information is to be shared externally of the business
A formal warning will be issued
Phones are not allowed to be used by students during class time
17
Which of these is NOT a pricing strategy?
Penetration pricing
Percentage mark ups (Cost plus margin)
Price skimming
Percentage pricing
18
What are one advantage and one disadvantage of external recruitment?
qualified employees may resent outsiders coming in, it is costly
applicant brings new ideas, allows for rapid growth of the business
applicants are unknown, process is more time consuming
wider range of applicants, it is more expensive
19
1. Which of these are three national employment standards?
A) Long service leave, public S/L, flexible working arrangements
A) Parental leave, maximum weekly hours, public holidays.
Annual leave, online testing, public holidays
A) Long service leave, work life balance, flexible working arrangements
20
1. What is not one of the main 5 consideration for choosing a business’s supplier?
Corporate Social Responsibility
Staff
Price
Proximity
21
Which of these is not a customer relations strategy
providing poor customer service
customer loyalty programs
catering to a multicultural market
seeking customer feedback
22
Jim is trying to hire someone for his mowing business that can do the job well and efficiently. What's the best solution
A) Hire Mr. Don
A) Psychological testing
A) Interviews
A) Work testing.
23
Fill in the blank of this distribution channel - producer to r___ to customer
respondent
retail
resourcer
retailer
24
· Which element of the customer profile is missing? Behaviour, interests, location ...
Age
- Demeyegrophioc
demographic
- Religion
25
1. Name the statement - a summary of what the worker will be doing, including their role, duties and responsibilities
A) Job specification
A) Job security
A) Job description.
A) Job analysis
26
How many hours should I study at home for my business exam
Over 10 hours
Less than 1
3 - 5 hours
1 - 3 hours
27
Select in order - one benefit and disadvantage of using technology in marketing
It's expensive, lots of people will see it
It's easy to use, It costs a lot
You reach a lot of people, it's cheap
It's cheap, lack of control
28
Name three purposes of packaging
Promote the product, Protect the product, Picture the product
Protect the product, inform the customer, promote the product
Promote the product, protect the product, increase the cost
Protect the product, decrease the cost, inform the customer
29
Which is not a stage of the plc
Growth
Decline
Expansion
Maturity
30
Which of these is not a benefit of an induction process
Easier transition for the employee into a new job
Assists the employee to feel a ‘part’ of the business
Builds the new employees’ confidence
Gives employees too much to think about
31
Name an advantage of using overseas suppliers
hidden costs associated with different cultures
Long lead times
Being able to source materials not available locally
Cheaper products
32
Which of these scenarios does not relate to flexible working conditions
flexitime to change the hours of your shift
work from home arrangements
getting eight weeks holiday a year
Lengthening shifts to get one day a fornight off
33
Which of these is not one of the 7 P's
Product
Physical evidence
Process
Packaging
34
1. What does P.A.Y.G. stand for?
Pay As You Go
Patent All Your Gnomes
Personal Annual Yearly Gains,
People (and) Angry Yelling Goats
35
1. Identify when a business’s name doesn’t have to be registered
When its the owners name
When it has Pty Ltd
when it is not already taken
if the business sells a service not a product.
36
Which one of the following products has both tangible and intangible elements?
An apple
A packet of cigarettes
A traffic light
A flight to China

Business Management Sem 2 Exam Revision 2021 Flashcards | StudBud