A2 Section C - The Global Market Place

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What has created the 'global market place'?
Development and use of ICT
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What does a brand need to be successful? Give 2 factors.
Value, strong marketing and promotion, up-to-date production systems, take account of changing customer needs
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What does QR stand for?
Quick Response
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What is QR?
One of the first strategies for survival against low-cost imports.
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What has QR led to the development of?
CADCAM, Electronic point-of-sale, EDI
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How much can QR save on the retail price of some garments?
25%
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How has the introduction of Electronic Communications impacted global manufacturing?
Reduces labour and material costs (moving from country to country)
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Give 3 positives of the global market place on NICs.
Provides employment and higher living standards, improve expertise of local workforce, brings in foreign currency, widens a country's economic base, enables transfer of new technology
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Give 3 negatives of the global market place on NICs.
Environmental damage, low-level skills jobs, profits exported back to developed world, political pressure exerted by companies whose interests lie outside the country, may do little for local standards of living.
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Card 2

Front

What does a brand need to be successful? Give 2 factors.

Back

Value, strong marketing and promotion, up-to-date production systems, take account of changing customer needs

Card 3

Front

What does QR stand for?

Back

Preview of the front of card 3

Card 4

Front

What is QR?

Back

Preview of the front of card 4

Card 5

Front

What has QR led to the development of?

Back

Preview of the front of card 5
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