Global Harvest Corporation, an agricultural technology company based in Brazil, develops innovative farming solutions. In 2024, GHC's marketing team identified that farmers have a range of needs and wants. They require essential equipment for basic crop production while also expressing interest in premium automated systems.
State two differences between needs and wants.
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Quantum Robotics PLC, based in Seoul, invested heavily in research and development throughout 2024. The company's product-orientated approach focused on creating technically superior robots that will naturally attract customers.
Define the term 'product orientation'.
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Sahara Foods LLC, a Middle Eastern food manufacturer, implemented new market research initiatives in 2024. The company adopts a market-orientated approach, regularly surveying customers and adjusting its product range based on changing consumer preferences.
State two benefits of market orientation.
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Stellar Analytics Ltd, a Canadian data services provider, reported total sales of $45 million in 2024. As the total market size for data analytics services in Canada was $900 million that year, its market share was 5%.
Define the term 'market share'.
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Phoenix Pharmaceuticals PLC, headquartered in Dublin, tracks various market metrics. The company's management team regularly monitors different ways to measure their market performance and overall market growth.
State two ways to measure market growth.
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Lotus Luxury Foods Ltd, based in Singapore, operates in a niche market, specialising in the production of artisanal gluten-free desserts that are sold at a premium price.
Define the term 'niche market'.
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Pacific Tech Solutions Ltd, based in Sydney, leads the Australian software security market. The company's position provides several competitive advantages.
State two advantages of market leadership.
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TechBoost, a gadget manufacturer, takes a product-orientated approach. It focuses on developing innovative products first and finding a market later. In 2024, it launched a new wearable without conducting prior market research.
Describe one risk of using a product-orientated approach to marketing.
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Sunrise Cafe is a family-owned coffee shop in a busy urban neighbourhood. Known for its high-quality artisan coffee and cosy atmosphere, the cafe recently introduced a new menu item: "CoffeeFusion," a premium cold brew infused with exotic flavours. The owners took a product-orientated approach when creating CoffeeFusion, focusing on unique flavours and innovative brewing techniques.
Despite the product’s launch, sales have been lower than expected, with customers expressing a preference for simpler, more affordable options. Meanwhile, a competing chain, QuickBrew, is thriving by catering to consumer demand for convenience and cost-effectiveness. The owners of Sunrise Cafe must now decide whether to continue perfecting CoffeeFusion’s recipe or adopt a market-orientated strategy to better meet customer preferences.
Explain one advantage and one disadvantage of Sunrise Cafe’s product-orientated approach to marketing.
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Sunrise Cafe is a family-owned coffee shop in a busy urban neighbourhood. Known for its high-quality artisan coffee and cosy atmosphere, the cafe recently introduced a new menu item: "CoffeeFusion," a premium cold brew infused with exotic flavours. The owners took a product-orientated approach when creating CoffeeFusion, focusing on niche flavours and innovative brewing techniques.
Despite the product’s launch, sales have been lower than expected, with customers expressing a preference for simpler, more affordable options. Meanwhile, a competing chain, QuickBrew, is thriving by catering to consumer demand for convenience and cost-effectiveness. The owners of Sunrise Cafe must now decide whether to continue perfecting CoffeeFusion’s recipe or adopt a market-orientated strategy to better meet customer preferences.
Describe two characteristics that differentiate Sunrise's niche market approach from a mass market approach
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Bloom Petals is a mid-sized florist operating in a competitive urban market. The business primarily caters to special occasions such as weddings and corporate events, offering bespoke floral arrangements. However, it recently expanded into a new niche: eco-friendly flower arrangements. These are made using locally sourced, seasonal flowers and marketed under the tagline “Sustainably Beautiful.”
Bloom Petals operates in a niche market but aims to grow its share by appealing to environmentally conscious customers. While its new products are priced higher than standard arrangements, they align with its values and branding. Despite this, larger competitors offering mass-produced bouquets at lower prices dominate the overall market.
Analyse two advantages and one disadvantage of Bloom Petals focusing on eco-friendly products to increase its market share.
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Bloom Petals is a mid-sized florist operating in a competitive urban market. The business primarily caters to special occasions such as weddings and corporate events, offering bespoke floral arrangements. However, it recently expanded into a new niche: eco-friendly flower arrangements. These are made using locally sourced, seasonal flowers and marketed under the tagline “Sustainably Beautiful.”
Bloom Petals operates in a niche market but aims to grow its share by appealing to environmentally conscious customers. While its new products are priced higher than standard arrangements, they align with its values and branding. Despite this, larger competitors offering mass-produced bouquets at lower prices dominate the overall market.
Describe two advantages to Bloom Petals of moving into the mass market compared to its current niche market.
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EduBooks is a publishing company specialising in educational resources for students aged 12 to 18. The company has built its reputation on producing high-quality, detailed textbooks for specific subjects, such as Advanced Physics. However, market trends indicate a growing demand for digital resources, including online study platforms and interactive eBooks.
EduBooks faces the challenge of adapting to these changes while maintaining its position as a market leader in traditional print publishing. Its main competitors have already launched subscription-based study platforms, gaining a share of the growing market for digital learning tools.
Explain one benefit and one drawback of EduBooks maintaining its focus on print publishing.
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EduBooks is a publishing company specialising in educational resources for students aged 12 to 18. The company has built its reputation on producing high-quality, detailed textbooks for specific subjects, such as Advanced Physics. However, market trends indicate a growing demand for digital resources, including online study platforms and interactive eBooks.
EduBooks faces the challenge of adapting to these changes while maintaining its position as a market leader in traditional print publishing. Its main competitors have already launched subscription-based study platforms, gaining a share of the growing market for digital learning tools.
Analyse two advantages and one disadvantage of EduBooks expanding into digital publishing.
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