Subject: Business Management Name: Term: 2 Grade: 12 Business management Score: ---20 Quiz 1 Case study A TALE OF TWO MARKETS Morris Springs manufactures specialized industrial springs and sells these in various countries around the world. + Total sales in Australia in 2013 were 54,000 units. The average selling price was $3 + Total sales in Canada in 2013 were 10,000 units. The average selling price was $15 * In 2014 sales volumes of Australia increased by 5% and the selling price by 10% * In 2014, total sales value of Canada was $180,000, despite the average price falling to $12 1. Define the term Market Leaders [2 marks] 2. Calculate the percentage increase in the total value of sales for Australia between 2011 and 2012. [6 marks] 3. Explain the difference between Market size by VOLUME and Market Size by VALUE. (4 marks] 4. Explain the effect of the external factors on Market Growth. [4 marks] 5. Distinguish between product-oriented marketing and market oriented marketing. [4 marks]