Commerce Insights for Grade 12

What is a key component of a successful marketing strategy?

• Understanding the target audience

• Focusing solely on social media

• Ignoring market trends

• Emphasizing product features over customer needs

How can businesses effectively manage their cash flow?

• Reducing product prices

• Increasing debt levels

• Effective cash flow management involves forecasting, monitoring, maintaining reserves, optimizing inventory, and timely invoicing.

• Delaying payments to suppliers

What are the latest trends in e-commerce for 2023?

• Increased use of physical retail stores

• Focus on traditional advertising methods

• Key trends in e-commerce for 2023 include social commerce, AI personalization, subscription services, sustainability, mobile commerce, and augmented reality.

• Decline in online shopping

Why is ethical behavior important in business practices?

• Ethical behavior is irrelevant in competitive markets.

• Ethical behavior is crucial in business as it builds trust, enhances reputation, ensures compliance, and promotes long-term success.

• Ethical behavior can lead to short-term profits at any cost.

• Ethical behavior is only important for large corporations.

What role does social media play in modern marketing strategies?

• Social media is crucial for brand visibility, customer engagement, targeted advertising, and analytics in modern marketing strategies.

• Social media is only effective for large corporations.

• Social media has no impact on customer purchasing decisions.

• Social media is primarily used for personal communication.