IGCSE Enterprise: Specimen Questions with Answers 46 - 47 of 49

Passage

Case Study -2

Pottery Barn & Sherwin-Williams

Co-Branding Campaign: Color Your Room

  • One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience. That՚s exactly what home furnishing store Pottery Barn and paint company Sherwin-Williams did when they partnered together back in 2013.
  • Together, the two brands created an exclusive product line of paints, and then added a new section of Pottery Barn՚s website that helped customers easily select paint colors to complement their furniture choices.
  • Customers could coordinate paint colors with picture-perfect Pottery Barn furniture for a mutually beneficial partnership – and style assistance for both brands customers to boot. “Paint Landing,” Pottery Barn՚s landing page for the partnership, contains helpful blog posts and how-to ideas for do-it-yourself painting and decorating.

Question 46 (9 of 12 Based on Passage)

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Short Answer▾

What is the difference between marketing and sales

Explanation

The Difference between Marketing and Sales
S. No.Marketing ConceptSelling Concept
1.Marketing involves:
  • finding out what the consumer wants.
  • Planning and developing product.
  • determining best way to price, promote, and distribute product and services.
Selling means planning, direction and control of the selling activities of a business which also includes areas like- recruitment, selection, training, motivation, compensation of sales executive.
2.Emphasis is on consumer wantsEmphasis is on product
1.Company first finds out what the consumer wants then develops and supplies the product to satisfy customer.Company makes a product and then finds out how to sell it.
2.Marketing concept is modern and accepted universallySelling concept is traditional and outdated.

Question 47 (10 of 12 Based on Passage)

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Short Answer▾

One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience.

What is Co-branding?

Explanation

Co-branding is a form of managing customers contact to build brand image is co-branding. Today brands are coming together to create a powerful image in the customer՚s mind. Co-branding leads to logistical and financial benefits to partner organizations. But often the debate is whether co-branding leads to losing a brand՚s unique identity. To avoid this situation, it is important that brands coming together must have-

  • Shared vision and rules
  • Similar passion to serve customers
  • Similar approach to product and service quality.