Unit 2 Business Studies Gr 11
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EDEXCEL GCE GN.ATOLL EDUCATION CENTRE
Centre No.
Candidate No.
MOCK EXAM 2009
Business Studies/Economics and Business
Advanced Subsidiary Unit 2a: Managing the Business Paper Reference
Saturday
18 April 2009 – Morning Time: 1 hour 15 minutes
You do not need any other materials.
6BS02/01 Total Marks
Instructions • Use black ink or ball-point pen. • Fill in the boxes at the top of this page with your name,centre number and candidate number. • Answer all questions in Section A and all parts of the question in Section B. • Answer the questions in the spaces provided • there may be more space than you need. • You may use a calculator.
Information • • • • • •
The total mark for this paper is 70. The marks for each question are shown in brackets
use this as a guide as to how much time to spend on each question. Quality of written communication will be taken into account in the marking of your answers.
you should take particular care with your spelling, punctuation and grammar, as well as the clarity of expression.
Advice • •
Read each question carefully before you start to answer it. Keep an eye on the time. • Try to answer every question. • Check your answers if you have time at the end.
SECTION A Answer ALL the questions in this section. You should spend 30 minutes on this section.
1. (a) A product’s price elasticity is most likely to be high when it: A is very different from its competition B has been backed by heavy TV advertising C has a similar design to its rivals D is the best-known brand in the market
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 1 = 4 marks)
2
Turnover
2. (a) The Boston Matrix would particularly help a business with: A A fall in sales across its whole product range B A wide product portfolio that needs careful management C Only one product with fast rising sales D Problems in finding the right distribution channels
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 2 = 4 marks)
3
Turnover
3. (a) A firm’s marketing objective is to increase market share. Which of the following is the firm’s best strategy? A To find out where the company’s products are on their Product Life Cycle B To increase the price of its price inelastic products C To introduce debt factoring D To push its products through a wider range of distribution channels
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 3 = 4 marks) 4
Turnover
4. (a) Frictional unemployment comes about because of A Friction between labor and management. B A mismatch between skills and available jobs. C Normal labor market turnover. D A general economic slowdown.
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 4 = 4 marks)
5
Turnover
5. (a) The cost of inflation to society includes A Unpredictable changes in the value of money. B Higher interest rates paid by borrowers. C Higher interest rates paid by the government on its debt. D The lost spending when people do not have enough money.
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 5 = 4 marks)
6
Turnover
6. (a) A popular rock band has released a new CD. A large department store has decided to sell this CD at below cost price. What strategy is the store using? A Price points B Market pricing C Price skimming D Loss leader pricing
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 6 = 4 marks) TOTAL FOR SECTION A: 24 MARKS
7
Turnover
SECTION B Answer ALL the questions in this section.
MARYBELLE DAIRY James Strachan’s family have been dairy farmers for 5 generations, but as milk prices continuously fell he decided the time was right to do something different. James and his brothers wanted to open their own dairy and produce a range of products under their own brand. They carried out a feasibility study including interviews with local people. On the basis of this study they decided to go ahead and start Marybelle dairy. Startup capital was raised by selling some land and mortgaging the farm. Their first task was to establish a milk network, despite being a loss leader they thought that regular deliveries of milk to a wide range of customers was the key to developing value added products such as cream, yoghurt butter and cheese. James also planned to target the supermarkets and Asda took them on. As an environmentally friendly producer and in order to differentiate their milk, they have recently run a product trial of a recyclable milk container in their local Asda store in Lowestoft. The initial 50 bottles a day were quickly bought and there are now plans to expand the product into more Asda branches. The business has now been successful in expanding beyond its original target market. It currently employs 20 staff and has a turnover of £1.2 million.
7. What do you understand by the following terms? (2 marks each) a) Brand ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 8
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................
b) Value added products ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ c) Target market ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 6 marks) 9
Turnover
8. Discuss the most ideal pricing policy that Marybelle Dairy could adopt to increase sales. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 6 marks) 9. Explain the importance of Market segmentation to Mr. James Strachan. ............................................................................................................................................................ ............................................................................................................................................................ 10
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 6 marks) 10. To what extent might future product quality performance be affected by this new programme? ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 11
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 12
Turnover
............................................................................................................................................................ ............................................................................................................................................................ (Total 8 marks) 11. Explain the importance of motivation of employees for the successes of Marybelle Dairy. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 13
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ........................................................................................................................................................... ............................................................................................................................................................ ............................................................................................................................................................ (Total 8 marks) 12. Different stakeholders might feel differently about the support given by Marybelle Dairy to the local community activities’. Discuss why. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 14
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 15
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 12 marks) TOTAL FOR SECTION B: 46 MARKS TOTAL FOR PAPER: 70 MARKS END
16
Other names
EDEXCEL GCE GN.ATOLL EDUCATION CENTRE
Centre No.
Candidate No.
MOCK EXAM 2009
Business Studies/Economics and Business
Advanced Subsidiary Unit 2a: Managing the Business Paper Reference
Saturday
18 April 2009 – Morning Time: 1 hour 15 minutes
You do not need any other materials.
6BS02/01 Total Marks
Instructions • Use black ink or ball-point pen. • Fill in the boxes at the top of this page with your name,centre number and candidate number. • Answer all questions in Section A and all parts of the question in Section B. • Answer the questions in the spaces provided • there may be more space than you need. • You may use a calculator.
Information • • • • • •
The total mark for this paper is 70. The marks for each question are shown in brackets
use this as a guide as to how much time to spend on each question. Quality of written communication will be taken into account in the marking of your answers.
you should take particular care with your spelling, punctuation and grammar, as well as the clarity of expression.
Advice • •
Read each question carefully before you start to answer it. Keep an eye on the time. • Try to answer every question. • Check your answers if you have time at the end.
SECTION A Answer ALL the questions in this section. You should spend 30 minutes on this section.
1. (a) A product’s price elasticity is most likely to be high when it: A is very different from its competition B has been backed by heavy TV advertising C has a similar design to its rivals D is the best-known brand in the market
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 1 = 4 marks)
2
Turnover
2. (a) The Boston Matrix would particularly help a business with: A A fall in sales across its whole product range B A wide product portfolio that needs careful management C Only one product with fast rising sales D Problems in finding the right distribution channels
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 2 = 4 marks)
3
Turnover
3. (a) A firm’s marketing objective is to increase market share. Which of the following is the firm’s best strategy? A To find out where the company’s products are on their Product Life Cycle B To increase the price of its price inelastic products C To introduce debt factoring D To push its products through a wider range of distribution channels
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 3 = 4 marks) 4
Turnover
4. (a) Frictional unemployment comes about because of A Friction between labor and management. B A mismatch between skills and available jobs. C Normal labor market turnover. D A general economic slowdown.
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 4 = 4 marks)
5
Turnover
5. (a) The cost of inflation to society includes A Unpredictable changes in the value of money. B Higher interest rates paid by borrowers. C Higher interest rates paid by the government on its debt. D The lost spending when people do not have enough money.
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 5 = 4 marks)
6
Turnover
6. (a) A popular rock band has released a new CD. A large department store has decided to sell this CD at below cost price. What strategy is the store using? A Price points B Market pricing C Price skimming D Loss leader pricing
Answer
(1)
(b) Explain why this answer is correct. (3) ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total for Question 6 = 4 marks) TOTAL FOR SECTION A: 24 MARKS
7
Turnover
SECTION B Answer ALL the questions in this section.
MARYBELLE DAIRY James Strachan’s family have been dairy farmers for 5 generations, but as milk prices continuously fell he decided the time was right to do something different. James and his brothers wanted to open their own dairy and produce a range of products under their own brand. They carried out a feasibility study including interviews with local people. On the basis of this study they decided to go ahead and start Marybelle dairy. Startup capital was raised by selling some land and mortgaging the farm. Their first task was to establish a milk network, despite being a loss leader they thought that regular deliveries of milk to a wide range of customers was the key to developing value added products such as cream, yoghurt butter and cheese. James also planned to target the supermarkets and Asda took them on. As an environmentally friendly producer and in order to differentiate their milk, they have recently run a product trial of a recyclable milk container in their local Asda store in Lowestoft. The initial 50 bottles a day were quickly bought and there are now plans to expand the product into more Asda branches. The business has now been successful in expanding beyond its original target market. It currently employs 20 staff and has a turnover of £1.2 million.
7. What do you understand by the following terms? (2 marks each) a) Brand ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 8
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................
b) Value added products ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ c) Target market ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 6 marks) 9
Turnover
8. Discuss the most ideal pricing policy that Marybelle Dairy could adopt to increase sales. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 6 marks) 9. Explain the importance of Market segmentation to Mr. James Strachan. ............................................................................................................................................................ ............................................................................................................................................................ 10
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 6 marks) 10. To what extent might future product quality performance be affected by this new programme? ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 11
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 12
Turnover
............................................................................................................................................................ ............................................................................................................................................................ (Total 8 marks) 11. Explain the importance of motivation of employees for the successes of Marybelle Dairy. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 13
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ........................................................................................................................................................... ............................................................................................................................................................ ............................................................................................................................................................ (Total 8 marks) 12. Different stakeholders might feel differently about the support given by Marybelle Dairy to the local community activities’. Discuss why. ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 14
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ 15
Turnover
............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ ............................................................................................................................................................ (Total 12 marks) TOTAL FOR SECTION B: 46 MARKS TOTAL FOR PAPER: 70 MARKS END
16
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