Marketing - Business Studies

Marketing - Business Studies

Question 1 of 10

1

What is cost-plus pricing?

Select one of the following:

  • Estimating how many of the product will be produced, then calculating the total cost or producing this output and finally adding a percentage mark-up for profit.

  • Used when trying to enter a new market.

  • When the product is usually a new invention, or a new development of an old product, and therefore it can be sold on the market at a high price and people will pay this high price because of the novelty factor.

Explanation

Question 2 of 10

1

Market share is the ratio of money a company has compared to its competitors in a market.

Select one of the following:

  • True
  • False

Explanation

Question 3 of 10

1

Which of these are different types of promotion?

Select one or more of the following:

  • Gifts

  • Television

  • Competitons

  • Billboards

  • Price reductions

Explanation

Question 4 of 10

1

At what point does market saturation occur?

Select one of the following:

  • At the point the curve starts to rise.

  • At the point where the curve is leveled out.

  • At the point where the curve starts to decline.

  • It doesn't.

Explanation

Question 5 of 10

1

"SWOT" stands for Strengths, Weakness, Output, Threats.

Select one of the following:

  • True
  • False

Explanation

Question 6 of 10

1

Which of these are products?

Select one or more of the following:

  • Clothes

  • Food

  • Public park

  • Company insurance

Explanation

Question 7 of 10

1

What is marketing?

Select one of the following:

  • Advertising, promotion, and selling.

  • Identifying consumer wants, anticipates their future wants and then goes about satisfying them profitably.

  • To find the total cost of production and then calculate the cost per unit to make that cost per unit plus a percentage the price of the unit.

Explanation

Question 8 of 10

1

A steep demand curve of a product means that the product has an inelastic demand curve.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 10

1

A market that is a small, usually specialised, segment of a much larger market is called a...

Select one of the following:

  • Mass market.

  • Niche market.

  • Money market.

Explanation

Question 10 of 10

1

What are the four "P"s of the marketing mix?

Select one or more of the following:

  • Price

  • Packaging

  • Promotion

  • Place

  • Product

  • Production

Explanation

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