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Business management · 2003 · May · Paper 2 · SL · Markscheme

Business managementMarkscheme2003SLMay

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Resource overview

This markscheme is listed under Business management in the 2003 examination archive. Its catalogue level is SL. The catalogue session is May. The information below helps you identify the document before opening the complete PDF. Subject, year and session labels come from the archive catalogue; the original cover remains the reference if a label differs. A file is not automatically suitable for your current syllabus simply because its subject name matches.

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MARKSCHEME May 2003 BUSINESS AND MANAGEMENT Standard Level Paper 2 16 pages M03/370/S(2)M+ INTERNATIONAL BACCALAUREATE BACCALAURÉAT INTERNATIONAL BACHILLERATO INTERNACIONALc [2 marks] 1. (a) TCP are aiming to target the “Digger” brand at the market segment of professional males and females aged 22-35. (i) Describe what is meant by segmentation. Identifying groups with relatively similar needs and wants within a market. The firm can then develop an appropriate marketing mix for each segment. The aim is to meet customers’ needs more precisely. Award up to [2 marks] for a suitable description. [6 marks] (ii) Evaluate the segm entation factors TCP need to take into account to ensure success in this market. TCP need to take into account: Age Clothes should be designed with th e 22-35 market in mind and appropriate clothing developed for this group rather than creating a range of universal clothes. Gender TCP should develop a range of clothing fo r men and a separate range for women rather than unisex clothes as this market segment is able to pay for quality clothes and is likely to want the benefits of clothing that are casual but will also expect them to fit well. Socio economic groups When pricing the clothing, the earning potential of the market segment should be taken into account and prices set accordingly. Location Appropriate venues shoul d be found to sell the clothing in places that appeal to this market segment. TCP could consider mail order and internet sales as these are likely to appeal to busy executives. Up market shopping malls and shops should be used. Lifestyle Clothing design should take into account the type of places that busy professionals of this age group frequent as this will dictate the type of styles that are more likely to be successful. Benefit e.g. warmth, comfort, and style. Motives for buying (pyschographical) TCP need to understand why this age group buy clothes and ensure that the marketing and design they use are targeting these needs. – 2 – M03/370/S(2)M+
File information
Subject
Business management
Document type
Markscheme
Year
2003
Session
May
Level
SL
Paper
2
Examination zone
Not labelled in the archive
Language
Not labelled in the archive
File size
165 KB
Pages
16
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