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Applying business knowledge to a critical problem · Part 3 of 3
6 exam-style questions with model answers, plus 10 quick multi-choice questions — every question on this part of the standard, grouped by the 2 pages of notes they come from.
Write a full answer before you reveal the model one. That comparison is where the learning happens.
An invented food manufacturer is losing sales because a competitor's product is cheaper.
Identify and describe TWO strategies it could implement in response.
Explain how EACH of those strategies could address the loss of sales.
Justify, with TWO reasons, which of the two strategies would be more successful for the manufacturer.
A business must choose between two solutions to a critical problem. Explain why it is important to compare solutions before choosing one.
An invented business can respond to a new competitor either by cutting prices or by signing long-term supply agreements with its main customers.
Explain how EACH solution would address the problem, and what each would cost the business.
Referring to profitability and competitiveness, justify, with TWO reasons, which of those two solutions the business should implement.