CAIE IGCSE Business Studies 3.1.1 role of marketing

Award 1 mark for each relevant advantage (max 2).

Award 1 mark for each relevant reference to this business (max 2).

Award 1 mark for each relevant explanation (max 2).

Points might include:

- Easier to match products to existing customer needs [k] reducing wastage [an] as know which are the popular types of skincare products [app]

- Improve / good reputation / brand image [k] so less promotion needed / lower cost (of advertising) [an] by this private sector business [app]

- Increase sales / customers [k] which could increase revenue / market share [an] above $36m [app]

- Encourages existing customers to try new products [k]

- May be able to increase prices [k] which would increase profit margin [an]

Other appropriate responses should be credited.

To use words from the stem as application, the reference must be appropriate (i.e. make sense) in relation to the point being made.

The following words are likely to be appropriate for this question:

- Skincare or examples such as face cream

- Marketing mix

- Sustainable development

- 30% (market share)

- Private sector business

- $ 120 million (total value of market sales)

- $ 36 million (revenue)

Other appropriate examples in context can be credited.

Some points could be [k] or [an] but do not award the same point twice e.g. repeat customers.

Increase market share is [an] only.