Photo AI
Keyless Locksmiths Pty Ltd Revenue statement for the year ended 30 June 2001 Sales Less cost of goods sold Opening stock 45 000 48 000 Purchases 85 000 87 000 130 000 135 000 Less closing stock 48 000 45 000 Gross profit 68 000 60 000 Less selling expenses Advertising 11 000 11 000 Salaries 34 000 38 500 49 500 Less administrative expenses Telephone 3 000 3 500 Rental 5 000 8 000 5 500 9 000 Net profit 15 000 1 500 a) Calculate the gross profit ratio for 2001 - HSC - SSCE Business Studies - Question 22 - 2001 - Paper 1
Question 22
Keyless Locksmiths Pty Ltd Revenue statement for the year ended 30 June 2001 Sales Less cost of goods sold Opening stock 45 000 48 000 Purchases 85 000 8... show full transcript
Worked Solution & Example Answer:Keyless Locksmiths Pty Ltd Revenue statement for the year ended 30 June 2001 Sales Less cost of goods sold Opening stock 45 000 48 000 Purchases 85 000 87 000 130 000 135 000 Less closing stock 48 000 45 000 Gross profit 68 000 60 000 Less selling expenses Advertising 11 000 11 000 Salaries 34 000 38 500 49 500 Less administrative expenses Telephone 3 000 3 500 Rental 5 000 8 000 5 500 9 000 Net profit 15 000 1 500 a) Calculate the gross profit ratio for 2001 - HSC - SSCE Business Studies - Question 22 - 2001 - Paper 1
Step 2
Step 3
Propose and justify TWO marketing strategies that Keyless Locksmiths Pty Ltd could adopt to improve their profitability.
Answer
-
Digital Marketing Campaign: Implementing a targeted digital marketing campaign can help Keyless Locksmiths reach a wider audience. By utilizing social media, they can attract potential customers, create brand awareness, and ultimately drive sales, which can lead to improved profitability.
-
Customer Loyalty Program: Developing a customer loyalty program can encourage repeat business and increase customer retention. By offering discounts or rewards for loyal customers, the company can enhance customer satisfaction and increase overall sales.