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Alex and Nat design and sell clothes for women - HSC - SSCE Business Studies - Question 22 - 2007 - Paper 1
Question 22
Alex and Nat design and sell clothes for women. They have been selling nationally and have now decided to sell overseas. (a) Describe ONE social or cultural influen... show full transcript
Worked Solution & Example Answer:Alex and Nat design and sell clothes for women - HSC - SSCE Business Studies - Question 22 - 2007 - Paper 1
Step 1
Describe ONE social or cultural influence Alex and Nat need to consider to sell their clothes overseas.
Answer
One significant social or cultural influence to consider is the difference in fashion preferences across cultures. For instance, clothing styles, colors, and designs that are popular in one country may not resonate well in another. Therefore, Alex and Nat must research local trends and cultural values to tailor their clothing line accordingly. Additionally, understanding cultural norms about modesty and dress codes will be crucial to meet the expectations of their target market.
Step 2
Describe TWO aspects of financial management Alex and Nat need to consider for their global business.
Answer
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Methods of Payment: When expanding overseas, Alex and Nat need to establish secure and efficient payment methods that cater to international customers. This can include options like credit cards, digital wallets, or local payment systems specific to the countries they are operating in, ensuring ease and security for their customers.
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Shipping and Transport Costs: Another critical aspect to consider is the logistics involved in shipping products abroad. Alex and Nat must evaluate the costs associated with international shipping, including tariffs, insurance, and delivery times, to ensure that they have a viable pricing strategy that maintains profitability while being competitive in the global market.