Ben Ebbrell
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Ben Ebbrell
Created by Ben Ebbrell about 9 years ago
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Question 1 of 5

1

Markets Are...

Select one of the following:

  • Where buyers and sellers meet to exchange goods and service.

  • Paying a percentage of the sales revenue generated by a business or product.

  • The person who ultimately uses (or consumes) a product.

Explanation

Question 2 of 5

1

A Market Segment is...

Select one of the following:

  • Where buyers and sellers meet to exchange goods and service.

  • Part of a market that contains a group of buyers with similar buying habits, such as age or income.

  • A diagram that shows the range of possible positions for two features of a product, such as low to high price and low to high quality.

Explanation

Question 3 of 5

1

What is Effective Demand?

Select one of the following:

  • Data that can be expressed as numbers and can be statistically analysed

  • Demand backed by the ability to pay

  • A group of similar products made by a business like a number of different soap powders.

Explanation

Question 4 of 5

1

Price Sensitive is when...

Select one of the following:

  • a price is very important in the decision about whether or not to buy.

  • a percentage of the sales revenue generated by a business or product.

  • a group of people are brought together to answer questions and discuss a product, brand or issue.

Explanation

Question 5 of 5

1

What are Royalties?

Select one of the following:

  • Paying a percentage of the sales revenue generated by a business or product.

  • The right given by one business to another to sell goods or services using its name.

  • Part of a market that contains a group of buyers with similar buying habits, such as age or income.

Explanation

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