VCE-BUSMGT-U12 9.1 📋 Practice Exam 6: Question Paper

Explain the concept of the product life cycle. Describe the marketing strategies a business might use at each of its four stages.

Explain the difference between price skimming and penetration pricing strategies. In what circumstances would a business use each?

Explain the purpose of a promotion mix. Describe three promotional tools a small business with a limited budget could use effectively.

Explain the purpose of a position description and a person specification in the recruitment process.

Explain the difference between on-the-job and off-the-job training, giving an example of each.

Explain three different methods of remunerating employees (for example, time-based pay, piece rate and commission). Which method would best suit a retail sales role, and why?

Explain the purpose of a feasibility study conducted before starting a business. What key questions should it answer?

Explain the difference between primary and secondary market research, giving an example of each that a new business might use.

Extended Response 1: Marketing Planning

Extended Response 1: Marketing Planning (a)
A new Australian activewear brand plans to sell exclusively through an online store rather than physical shops. Explain how the brand could develop a distribution strategy and a promotion strategy suited to selling online only.

Extended Response 1: Marketing Planning

Extended Response 1: Marketing Planning (b)
Explain the purpose of a unique selling proposition (USP) and why having one matters for a new business entering a competitive market.

Extended Response 2: Staffing & Business Planning

Extended Response 2: Staffing & Business Planning (a)
Explain the process a business should follow when planning its staffing needs, from workforce planning through to inducting new employees.

Extended Response 2: Staffing & Business Planning

Extended Response 2: Staffing & Business Planning (b)
Explain why setting SMART objectives is important when writing a business plan.