AS
Business Homework for Wednesday 8th November
2 & 4 Mark Questions
BIC
was founded in 1950 by Marcel Bich with the introduction of the first high
quality ballpoint pen at an affordable price. In 1975, BIC launched the first
one-piece shaver and become a market leader within that sector too.
In the early days, BIC concentrated on a core range of products
that mainly included BIC Cristal® and Orange Ball Pen and the Classic Shaver.
In the 1990s, the company realised it needed to develop its product range to
meet changing consumer needs and to compete with new competitors entering the
writing and shaver categories.
BIC has therefore set about re-shaping itself. The re-branding
was intended to enhance the brand's simplicity whilst still maintaining the
highly recognisable, orange packaging.
In the twin blade sector, BIC has launched premium products such
as Comfort Twin and Twin Lady. These products target consumers demanding
enhanced features and benefits while still offering excellent value for money.
In 2003, BIC launched its first triple blade shaver for men BIC Comfort 3 and
one year later BIC Soleil Lady for women. Both of these products offer greater
innovation and technologically enhanced features and benefits at attractive
prices.
Two mark answers must always have two parts.
Definition and (for example) advantage or disadvantage
Two mark answers must always have two parts.
Definition and (for example) advantage or disadvantage
1 (a) What is meant by ‘brand’? (2)
(b) What is meant by ‘market leader’? (2)
Four mark answers: Knowledge 1, Application 2 , Analysis 1
Four mark answers: Knowledge 1, Application 2 , Analysis 1
(c) Explain how BIC could
develop customer loyalty for their products. (4)
(d) Explain in a demand and supply diagram how a shortage of raw
materials for producing the classic BIC one piece razor could affect the
equilibrium price. Label the new price
and quantity P1 and Q1. (4)
