'The most effective way for a loss-making retail clothing business to survive is to change the price element of its marketing mix.' Discuss whether you agree with this statement.

Mark scheme

Marking points from the official mark scheme (Feb/Mar 2022). The mark or mark type is shown in brackets.

1. [K&U] Clear understanding of a loss-making business.
2. [K&U] Clear understanding of a retail business.
3. [K&U] Clear understanding of a business survival.
4. [K&U] Clear understanding of a marketing mix.
5. [App] Reference to ways that a loss-making / retail / clothing business can change its marketing mix.
6. [An] Analysis of advantages / disadvantages of changing elements of the marketing mix including pricing.
7. [An] Analysis of advantages / disadvantages of ways that a (loss-making) business can survive.
8. [An] Analysis of why it might be difficult to survive in a retail (clothing) market.
9. [An] Analysis of the marketing mix that is used in the retail (clothing) market.
10. [Eval] A candidate may make a judgement/conclusion as to whether 'The most effective way for a loss-making retail clothing business to survive is to change the price element its marketing mix.'
11. [Eval] These judgements/conclusions may be made at any point in the essay as well as in a concluding section.
12. [Eval] The context is a loss-making retail clothing business.
13. [Eval] Reference to retail clothing businesses e.g. GAP, H&M, Next, ASOS.
14. [Eval] Evaluation of reasons why it might be difficult to survive in the retail clothing market.
15. [Eval] Evaluation of the marketing mix that is used in the retail (clothing) market.
16. [Eval] Consideration of the level of competition within the retail clothing market and the market share of the top retailers, which will affect survival of different businesses.
17. [Eval] Consideration of how important different elements of the marketing mix are to the consumers in this market and therefore which elements may be the most effective to change.
18. [Eval] Consideration of the ease and ability of the loss-making business to change its marketing mix.
19. [Eval] Whether there are short / long term effects of changing the marketing mix which need to be considered by the loss-making business.