Business Studies Notes

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10.2 HSC topic: Marketing -> Total system of related activities designed to plan, price, promote and distribute products to potential customers – identifying, satisfying, exchanging & communicating. 25% of indicative time

The focus of this topic is the main elements involved in the development and implementation of successful marketing strategies. |


The student:
H1 critically analyses the role of business in Australia and globally
H2 evaluates management strategies in response to changes in internal and external influences
H3 discusses the social and ethical responsibilities of management
H4 analyses business functions and processes in large and global businesses
H5 explains management strategies and
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Sociocultural-Influence of social/cultural background (friends, family, religion, ethnicity, income, education, reference groups, values etc.) –does this product relate to my religion/background? Will the product harm my relationship with peers/family?
Economic-Influence of greater economic trends (unemployment, interest rates, economic growth/decline) along with individual/family income level – can I afford this? Is it better value?
Government-Influence of government in legislation and regulation of markets – income tax, interest rates impact ability to purchase. Is there a law about purchasing this product? Are there advantages/conditions relating to government policy affecting this product? Will Gov. taxes make this more expensive?

consumer laws deceptive and misleading advertising * Overstating benefits, offering discounts that don’t exist, bait & switch advertising. Consumers are responsible for reporting breaches price discrimination
Providing stock at a lower price to that offered to competitors of a preferred retailer. Discounts for bulk buying are however legal. implied conditions & warranties
Reguardless of warranty, a business must either refund or exchange goods recognized as faulty at the time of leaving the store, this is implied warranty

ethical – truth, accuracy and good taste in
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