BTEC Sport Level 3 - Unit 22 - Learning aims D, E & F

Question 1

What is not a factor of finance a business needs to consider?

Accepted Answer

Acculminative costs

Question 2

What does 'price' mean in the 7 p's

Accepted Answer

The price should always be seen as good value for money

Question 3

What is 'above the line' promotion?

Accepted Answer

Mass media method such as a TV advert

Question 4

What is 'below the line' promotion?

Accepted Answer

Methods targetting individuals

Question 5

What is not an area of meeting a customers needs?

Accepted Answer

Not knowing enough about the products or services you offer

Question 6

What is a capital cost?

Accepted Answer

Materials invested in order to generate income

Question 7

What is not an example of promotion?

Accepted Answer

Not advertising your company at all

Question 8

What is a USP?

Accepted Answer

Unique selling point

Question 9

You might have the best products in the area, but what factor might prevent you making a profit

Accepted Answer

Your potential customers not knowing about you

Question 10

Referring to people in the 7 p's, why are staff a companies biggest asset?

Accepted Answer

They determine a good level of customer service/satisfaction, They allow a relationship between people and brand image

Question 11

What does product mean in the 7 p's?

Accepted Answer

It should be what the customers want & are expecting to get

Question 12

What are the 3 stages of processing a product?

Accepted Answer

Pre-shopping (going to look for items to purchase)

Question 13

What is not one of the 7 ps of marketing?

Accepted Answer

Profit

Question 14

Why must a sports business monitor trends?

Accepted Answer

They should want to find out what trends are on the increase, They want to start making a defecit, There may be windows of opportunity

Question 15

What is the difference between fixed and varied costs?

Accepted Answer

Fixed costs stay the same, varied costs vary

Question 16

What ways should a business communicate with customers?

Accepted Answer

Non-verbally, Verbally, Responding to complaints

Question 17

How would you define marketing? Tick all that apply

Accepted Answer

The process that businesses use to market products, A way of reaching customers needs and expectations

Question 18

What is cash flow?

Accepted Answer

The amount of money going in and out of a business

Question 19

What is the purpose of equipment costs?

Accepted Answer

To set aside money for potential up-grading or maintenence

Question 20

What areas should a business have knowledge about?

Accepted Answer

Competitors, The market itself, Customers

Questions 20