stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
IB Business UNIT 4 Test Flashcards | StudBud
Explore
/
IB Business UNIT 4 Test
IB Business UNIT 4 Test
70 terms
·
StudBud Administration
·
269 plays
Imported from external platform
Flashcards
70 cards
F
Practice quiz
P
Host live
L
Questions
70
Answers
1
A "DINKY" - "double income, no kids yet" is market segmentation based on…
Psychographic factors
Demographic factors
Infographic factors
Geographic factors
2
Negotiators who act on behalf of buyers and vendors (sellers) of a product
Wholesaler
Agents
Distributor
3
Which of the following is an example of primary research?
Information from media articles
Customer suggestions and feedback
Newly published government reports
Economic forecasts for the next twelve months
4
Choosing a geographic area & randomly sampling people to research from that area:
Convenience sampling
Quota sampling
Cluster sampling
Random sampling
5
An identifying symbol, name, image or trademark that distinguishes a product from competitors
Promotion
Packaging
Brand
Brand image
6
Setting a relatively low price initially, to attract market share
Price skimming
Penetration pricing
Loss leader pricing
Cost-plus pricing
7
Selling the same products to the whole market, rather than targeting a specific group:
Niche marketing
Mass marketing
8
Producer > Wholesaler > Retailer > Consumer
Two intermediary channel
One intermediary channel
Zero intermediary channel
9
Charging different prices to different groups of consumers
Competitor pricing
Psychological pricing
Loss leader pricing
Price discrimination
10
Overhead costs can be reduced with the use of internet marketing
true
false
11
Which is NOT a disadvantage of primary research?
Up to date
Validity
Costly
Time consuming
12
Which is NOT a method of Below-the-line promotion?
Direct marketing
Word of mouth
Magazines
POS promotion
13
Operations Management works with marketing to…
Hire the right members of the department
Determine the consumer's needs, wants, and demands
Develop, test, and launch products that meet consumer needs
Agree on a budget
14
Market share can be described as:
% of total sale in a market that can be attributed to a firm
The number of suppliers in a particular market
The total sales, as measured by value or volume, in a market
The relative size of a particular market
15
Techniques used to retain customer awareness
Persuasive promotion
Informative promotion
Reminder promotion
16
A product with LOW market growth & HIGH market share is a…
Cash cow
Question mark/Problem child
Star
Dog
17
Which is NOT a sector of the Boston Matrix?
Bad doggy
Cash cow
Star
Problem child
18
Conducting research using subjects that are easy to reach e.g. students
Quota sampling
Random sampling
Convenience sampling
Cluster sampling
19
Products that can be resused and are expected to have a reasonably long life
Producer good
Consumer durable good
Consumer good
Product
20
Which is NOT a method of Above-the-line Promotion?
Sponsorship
Cinema
Television advertising
Outdoor advertising
21
Independent and specialist businesses that trade in the products of only a few manufacturers
Distributor
Wholesaler
Agents
22
Marketing plans that extend the maturity stage of a product before a new one is needed:
Pricing strategies
Extension strategies
Maturity strategies
Promotional strategies
23
"The process of gathering, recording and analysing data to make more informed market decisions"
Market research
Market audit
Marketing planning
Market segmentation
24
The amount of competition in niche markets means that prices are relatively low…
true
false
25
Having a SPECIFIC marketing mix for a distinctive section of a particular market is:
Demographic profiling
Targeting
Psychographic profiling
Market segmentation
26
Finance works with marketing to…
Determine the consumer's needs, wants, and demands
Develop, test, and launch products that meet consumer needs
Hire the right members of the department
Agree on a budget
27
A product with HIGH market growth & HIGH market share is a…
Question mark/Problem child
Cash cow
Dog
Star
28
Which is NOT an advantage of secondary research?
Cheaper and faster to collect
Provides only partial information in some cases
Findings often based on large samples = statistically valid
Provides insight into trends or changes in an industry
29
The sales of a product recorded, from launch to decline and eventually withdrawal from a market
Product life cycle
Product positioning
Boston matrix
Promotional life cycle
30
A business' marketing objectives are LEAST likely to include:
Increasing market share
Improving product positioning
Decreasing costs of production
Striving for market leadership
31
Aims to inform the market about the business’ products
Informative promotion
Persuasive promotion
Reminder promotion
32
Which is NOT an example of Product Orientation?
iPhone X
Tesla self-driving car
H&M dress
Nintendo Switch
33
The size of a market cannot be measured in terms of:
The number of customers
Marketing budgets
Sales volume
Sales revenue
34
Which product is LEAST suited to e-commerce?
Mobile phones
Games
Software
Made-to-measure suits
35
Market orientation is a marketing strategy that involves:
Developing products based on a firm’s production capability
Producing goods that are innovative to meet the needs
Primary research to find out about customers’ wants and need
Researching consumers’ needs in order to develop new product
36
From the 4 Ps, which is the only "P" to generate revenue for a business?
Place
Profit
Price
Product
37
The placing of a brand/product in a Positioning Map is decided by:
Consumer perception
Producers
Competitors
Focus groups
38
Marketing is NOT about…
Understanding the needs and wants of customers
Meeting the needs and wants of consumers
Customer relations management
Recruiting the best sales people
39
Research using a certain number of people from each segment of a market
Convenience sampling
Quota sampling
Cluster sampling
Random sampling
40
When a low price is charged, usually below cost, to encourage sales elsewhere
Price skimming
Cost-plus pricing
Loss leader pricing
Penetration pricing
41
The faithfulness of consumers to a particular brand is shown by their repeat purchase
Brand awareness
Brand recognition
Brand loyalty
Brand development
42
A manufacturer's direct costs are likely to be reduced through good internet marketing
true
false
43
Unconventional ways of performing marketing activities on a very low budget
Viral marketing
Guerrilla marketing
Social media marketing
Internet marketing
44
Which of the following effects of e-commerce is a DISADVANTAGE to businesses?
Price transparency
More choice in distribution models
Increased choice in the promotional mix
Increased product range
45
Aims to encourage customers to make a purchase and to create brand loyalty
Informative promotion
Reminder promotion
Persuasive promotion
46
Adding a fixed mark-up for profit, to the cost price of a product
Price skimming
Cost-plus pricing
Penetration pricing
Loss leader pricing
47
Transactions conducted directly between a company and consumers of its products…
Consumer to Business (C2B)
Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)
48
Paid-for promotion through mass media sources to promote the business, its brands or its products
Below the line promotion
Above the line promotion
49
Which is NOT a benefit of internet marketing?
Informative
Cost saving
Increases brand recognition
Narrow reach
50
Which sampling method gives each member of the public an equal chance of being selected?
Stratified
Random
Cluster
Convenience
51
eBay and Craigslist is an example of what type of e-commerce?
Consumer to Consumer (C2C)
Business to Consumer (B2C)
Consumer to Business (C2B)
Business to Business (B2B)
52
Which is NOT a type of e-commerce?
Business to Business (B2B)
Business to Consumer (B2C)
Consumer to Consumer (C2C)
Consumer to Business (C2B)
53
Which of the following is an ADVANTAGE to internet marketing?
The cost and reliability of postal services
Smartphone ownership is increasing
Product returns are likely to increase
Some countries have low speed internet connections
54
Identifying & exploiting a small segment of a larger market by developing products to suit it:
Niche marketing
Mass marketing
55
Product orientated marketing means:
Using a firm’s assets to increase the marketing budget
Basing all marketing decisions on the needs of customers
Producing and selling products the firm believes will sell
Firm’s uses its strengths to market it's products
56
Forming small discussion groups to gain views of respondents
Interviews
Surveys
Focus groups
Observations
57
Primary research is best defined as…
Data that has not been processed by a firm
Collecting new data for a specific purpose
Using observations to determine customer wants
Using questionnaires to collect quantitative data
58
Setting a high price when a producer launches a product, usually purchased by "early adopters"
Price skimming
Loss leader pricing
Penetration pricing
Cost-plus pricing
59
An advantage of a higher market share is that:
It requires economies of scale to be earned
The firm will operate more productively
There will be less competitors in the market
It can lead to market leadership
60
Market research carried out by suggesting friends and then they suggest friends and so on…
Sample
Random sampling
Cluster sampling
Snowballing
61
A method of analysing the product portfolio in terms of market share and market growth
Product life cycle
Promotional life cycle
Product positioning
Boston matrix
62
Social marketing is…
Marketing that uses social media
Marketing good and services
Marketing attempting to change behavior to benefit society
Marketing medical services
63
A sub-group of a market made up of consumers with similar tastes & preferences:
Product positioning
Consumer profile
Target market
Market segment
64
Stages of the Product Life Cycle (in order):
introduction, growth, maturity, decline
introduction, development, growth, maturity, decline
development, introduction, growth, maturity, decline
development, introduction, growth, cash cow, decline
65
Market research that gathers statistical data is known as…
Qualitative research
Quantitative research
Field research
Desk research
66
Businesses that purchase large quantities of products & then 'breaks' the bulk-purchases into smaller units for resale
Agents
Wholesaler
Distributor
67
Which channel is likely to be the cheapest for customers?
One intermediary channel
Two intermediary channel
Zero intermediary channel
68
When a brand is recognised by potential customers and correctly associated with a product
Brand loyalty
Brand recognition
Brand development
Brand awareness
69
Any promotion that uses non-mass media sources, allowing the business to have direct control.
Below the line promotion
Above the line promotion
70
A factor that differentiates a product from its competitors i.e. a low price, but high quality:
USP (unique selling point)
Product positioning
Niche market
Mass market
