Price ● pricing strategies ● influences on pricing strategies: technology, competition, market segments, product life cycle.
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Demonstrate Question
This question is a analyse question. You MUST use the BLT format still however this time you will need two impacts or points with BLT. An example is below for a different discuss question. The structure of your answer should match the example.
Discuss the impact on a business of changes in consumer wants. (6 marks).
One impact is a business will have to carry out more market research
This is because they will need to know what these consumer changes are
This leads to designing products more inline with the consumer needs
Therefore keeping existing and new consumers attracted to the business
Another impact is a business will to adapt existing products
This is because they will be more in line with consumer wants
This leads to higher costs in development of current products
Therefore a reduction in profit for the business
BE EXCELLENT - Remember to get into the top band of marks for an Analyse question you MUST refer to case study in your answer
Have a go at your own
Analyse the impact on Fender of charging high prices for its musical instruments. (6 Marks)
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Mark Scheme
