In this last episode for Unit 2 Business Growth, Topic 2 Entering Markets, our hosts go into a deep dive for your exam.

Today, we will look at the Explain, Describe and your Extended Response.

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In this episode, your host will go over the practice exam. This exam can behttps://shorturl.at/gXIY3https://shorturl.at/gXIY3

It is a suggestion that you are familiar with this document before listening to the podcast.

Good Luck on your Exam

In this episode, your hosts will go over the different concepts that will possibly be asked on you in your Unit 2 Topic 2 Exam on Business Growth - Entering Markets.

Today on this episode, your hosts will cover how to -

Explain the relationship between market research and sales forecasting.

Explain the relationship between the ACCC and advertising standards.

Explain the interrelationships between:

• Market research, the marketing mix, and consumer behaviours.

• Branding, establishing a customer base, and market presence.

In this episode, our hosts break away from the content for a bit and have a look first hand at how your exam will look for Unit 2 Topic 2. Here is the practice exam the hosts are using

In this episode, your hosts will cover the following:

• Define market segmentation and target marketing.
• Describe the four main ways to segment a market.
• Apply segmentation to real-world business examples.

In this episode, your hosts will cover the following:

• Describe the main strategies businesses use to enter new markets.
• Explain the advantages and disadvantages of each strategy.
• Apply examples to show how businesses choose entry strategies.

In this podcast you will learn to

• Describe what it means for a business to enter a market.
• Identify different types of markets businesses can enter.
• Explain why businesses expand into new markets.

How businesses use branding, promotion, and pricing strategies to succeed during their growth stage.

• Growth Stage: When a business has proven its product works and is focused on expanding market share and building customer loyalty.

• Core Marketing Tools:

  1. Branding & Trademarks – building identity and recognition.

  2. Promotional Strategies – traditional, digital, and emerging.

  3. Pricing Strategies – competitive, penetration, skimming, cost-plus, psychological.

In this episode, your hosts will dive into what a USP is and how to create one.

This podcast follows the QCE Business course for Unit 2, Topic 2 - Business Growth: Entering Markets