Cash is the result of cash inflows and outflows

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: elop how credit purchases and sales provide the fundamental difference. (Cash is the result of cash inflows and outflows whereas profits include all sales and purchases including those on credit). The best answers observed that cash rich businesses may not necessarily be making profits while highly profitable businesses may not have excess cash. (c) While it is clear that most candidates have a good grasp of marketing as a topic, and are able to come up with some excellent ideas for marketing the service, fewer candidates are able to relate these ideas to influencing factors. Weakest answers failed to limit their answers to marketing factors. Typical answers came up with largely unsupported ideas for a marketing mix. Those candidates who contextualised their answers were able to pick up marks as they inevitably discussed factors indirectly. The best answers took the key issues from the case (very limited market, customers with limited amounts of money to spend, fierce and large scale competition and so on) to discuss how these would have an influence on the marketing mix. The best answers demonstrated evaluation skills by justifying which were the key factors for Ling. A few candidates made the mistake of thinking that PC produced the products rather than providing a retail service. (d) Although there were some very good answers to this part of the question, with many candidates achieving full marks, answers were often disappointing. Examiners had felt that because of the nature of the scenario in the data response material candidates would be easily able to relate to the difficulties that candidates might face in running their own business. The best answers referred to: the limited market (including the impact of holidays), practical problems of running a business in a School, the likely commitment of candidates, limited finance and other issues raised by the data response material. Poorer answers had little context – the difficulties could have related to almost any business. Question 2 (a) Most candidates had some understanding of the term “quality”. However, although there was plenty of evidence of understanding of various quality control techniques, many candidates ignored the expectations of the customer in determining what quality actually means and hence why it should be controlled. (i) Most candidates calculated elasticity correctly as 0.7. The most common mistake was to get the formula upside down, giving an answer of 1.7. A few candidates gave the answer as 0.7% rather than 0.7. (ii) (c) While most candidates understood the term “mass marketing”, a significant number of candidates confused the term with “mass production”. Better answers provided an example, most often Coca Cola and drew a distinction with niche marketing. (ii) (b) (i) Examiners were looking for a depth in understanding of the concept of elasticity. The best answers drew on the inelastic nature of CCs products compared with the elastic nature of their competitors to conclude that CC might adopt...
View Full Document

This document was uploaded on 11/18/2013.

Ask a homework question - tutors are online