Advantages of using test marketing for Mr. Cory’s Cookies: 1. Test marketing allows for trialling products in a small area to assess suitability, gather feedback, and make necessary improvements, such as enhancing the taste and quality of cookies like the popular choc-chip variety. 2. It reduces the risk of a full-scale launch by enabling adjustments to the marketing strategy and product before a larger rollout, helping to prevent costly mistakes and ensuring a more successful introduction to the market. 3. While test marketing may be costly and time-consuming, the insights gained can lead to more informed decision-making, efficient resource allocation, and improved market positioning for Mr. Cory’s Cookies. 4. By testing products in a limited area, Mr. Cory’s Cookies gains localized insights that can be used to tailor products and marketing efforts to specific customer preferences, enhancing overall market success and customer satisfaction. ####

Explain one pricing strategy that Mr Cory’s Cookies may have usedwhen the business startedAnswerMark2(b) Knowledge 1, Application 2, Analysis 1Knowledge1 mark for showing understanding of a pricing strategy e.g.• Penetration pricing (1)ApplicationUp to 2 marks for: contextualising the pricing strategy e.g.• Mr Cory’s Cookies was a start-up business with little experienceof selling goods (1)• The sweets and snacks market is very competitive and it maybe difficult for new businesses to enter the market(1)Analysis1 mark for reasons / causes / consequences of a pricing strategy e.g.• Selling at a low price may have persuaded the local communityto switch brands and buy Mr Cory’s Cookies rather than thoseof its competitors (1)

Which of these do cookies provide to improve a consumer’s online buying and shopping experience?Group of answer choicesconveniencecostchoicecommunicationcustomization

What is the significance of cookies on the internet as it relates to identifying a target market ?

What is the purpose of test marketing in the new product development process?Select one:a.To gather feedback from potential customers and make necessary product modificationsb.To introduce the product to the market on a limited scale and generate immediate salesc.To assess the long-term profitability of the new productd.To determine the pricing strategy for the new productClear my choice

Extended Response Business Report ‘The Influence of Marketing’, 1000 words with Apple and McDonald's case study examples for HSC syllabus Influences on Marketing Factors influencing customer choice – psychological, sociocultural, economic, government Consumer laws – Deceptive and misleading advertising – Price discrimination – Implied conditions – Warranties Ethical – truth, accuracy, and good taste in advertising, products that may damage health, engaging in fair competition, sugging