The correct order of the marketing process is -

SWOT, Market Research, Market Goal, Target Market, Strategy

Marketing depends on Operations as -

Operations allows production of G&S for marketing to promote

'Psychographic segmentation' is -

Dividing total market according to personality traits

Marketing depends on Finance as -

Finance provides financial advice and profits to marketing

Marketing depends on Human Resources as -

HR recruits the best candidates for the marketing department

Using characteristics of individuals to divide total market

'Global pricing' is when the business -

Analyses the coordination of pricing in different countries

Charging at or below the cost price of the G&S

The three channel choices businesses can use for 'place/distribution' of their G & S are -

Intensive, Selective and Exclusive

The four main types of markets are -

Resource, Industrial, Intermediate and Consumer

'Promotional strategies' in marketing involve -

Opinion leaders, Personal selling, Publicity & Word of Mouth

'Implied condition' means -

Unspoken and unwritten terms of a contract

The Marketing approach involves -

Finding what customers want and need through market research

'Standardisation' is when the business -

Assumes the use & needs of the product are globally the same

What is the strategic role of marketing?

To increase business profit by implementing a marketing plan

Which Australian law is the 'Competition and Consumer Act 2010' part of?

The Australian Consumer Law 2011

'SUGGING' stands for -

'Selling Under the Guise of a survey'

'Price Skimming' is -

Charging the highest possible price early on

Physical distribution issues faced by businesses are -

Transport, Warehousing and Inventory

Production Marketing Approach is -

Businesses perception that "If we make it, they will buy it"

'Fine print' and packaging is a form of -

Deceptive and misleading marketing strategy

The Sales Approach is -

Business emphasising selling due to increased competition

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HSC Business Studies - Marketing

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Questions 34

Answers

1
The correct order of the marketing process is -
Target Market, SWOT, Market Goal, Market Research, Strategy
SWOT, Market Goal, Market Research, Strategy, Target Market
Strategy, Market Goal, SWOT, Market Research, Target Market
SWOT, Market Research, Market Goal, Target Market, Strategy
2
Marketing depends on Operations as -
Operations ensures financial development of the business
Operations ensures production of G&S to be sold for growth
Operations allows production of G&S for marketing to promote
Operations allows Marketing to build their products
3
'Psychographic segmentation' is -
Dividing total market according to geographic location
Dividing total market according to product differentiation
Dividing total market according to consumers age
Dividing total market according to personality traits
4
Marketing depends on Finance as -
Marketing cannot exist without financial budget from Finance
Finance provides financial advice and profits to marketing
Marketing depends on finance for statements on expenses
Finance ensures effective management of business profits
5
Marketing depends on Human Resources as -
HR recruits the best candidates for the marketing department
HR organises marketing systems amongst their employees
HR helps marketing by attracting consumers to the business
HR provides programs for application of marketing strategies
6
An example of deceptive and misleading advertising is -
Implied Condition
Warranty
Bait and Switch Advertising
Honest advertising
7
'Segmentation' is -
Dividing market into segments based on product design
Using characteristics of individuals to divide total market
Differentiating products
Marketing strategy used to differentiate businesses
8
Which marketing strategy does 'Branding' and 'Packaging' fall under?
Price
People
Promotion
Product
9
'Global pricing' is when the business -
Using a common method of pricing of their different G & S
Applies customisation of branding methods related to pricing
Global use of the same product and price
Analyses the coordination of pricing in different countries
10
'Loss Leader' is -
Maximising price penetration by accepting profit loss
Charging at or below the cost price of the G&S
Charging below the cost price of the G&S
Making minimal profit from price skimming
11
The three channel choices businesses can use for 'place/distribution' of their G & S are -
Intensive, Selective and Mass
Intensive, Selective and Exclusive
Exclusive, Niche and Mass
Exclusive, Niche and Intensive
12
'Family and roles' is what type of influence on marketing?
Psychological
Economic
Sociocultural
Government
13
The four main types of markets are -
Mass, Niche, Segmentation and Customisation
Resource, Industrial, Intermediate and Consumer
Resource, Intermediate, Segmentation and Consumer
Niche, Consumer, Resource and Intermediary
14
'Promotional strategies' in marketing involve -
Opinion Leaders, Sales Promotion, Channel choice, Promotion
Sales promotion, Distribution channel and Price Skimming
Opinion leaders, Personal selling, Publicity & Word of Mouth
Personal Selling, Price Skimming, Loss leader & Publicity
15
'Implied condition' means -
Unspoken and written terms of a contract
Unspoken and unwritten terms of a contract
Spoken but unwritten terms of a contract
Spoken and written terms of a contract
16
Cost, Market and Competition based pricing are -
Price of the business
Pricing methods
People based marketing strategy
Pricing strategies
17
'Recession' is what type of influence on Marketing?
Psychological
Government
Economic
Sociocultural
18
The Marketing approach involves -
Satisfying consumer needs and wants through mass production
Finding what customers want and need through market research
Using market research to increase business profit
Satisfying business needs and wants through market expansion
19
'Standardisation' is when the business -
Assumes the needs of the product are globally segmented
Assumes the use & needs of the product are globally the same
Assume the needs of the product are globally customised
Assumes the use of the product are globally different
20
What is the strategic role of marketing?
To build a better business image and interrelationship
To purely build the financial capacity of the business
To increase business profit by implementing a marketing plan
To ensure that all functions of the business are operating
21
Which Australian law is the 'Competition and Consumer Act 2010' part of?
The Australian Consumer Law 2011
Australian Consumer Protection Law 2013
Consumer Legislation 2009
Trade Practices Act 1974
22
'SUGGING' stands for -
'Selling Unintentional Goods'
'Selling Under Gross margin'
'Selling Unwanted Goods'
'Selling Under the Guise of a survey'
23
'Perception' is what type of influence on marketing?
Sociocultural
Economic
Psychological
Government
24
'Price Skimming' is -
Charging the highest possible price early on
Charging the lowest possible price early on
Charging modest price early on
Charging competitor's price early on
25
Which market does 'Mass' and 'Niche' market belong in?
Consumer Market
Resource Market
Industrial Market
Intermediate Market
26
True or false: You will ace the exam -
All of the above
True
Uncertain
False
27
'Price and quality interaction' falls under -
Place/Distribution strategy
People strategy
Price strategy
Product strategy
28
Physical distribution issues faced by businesses are -
Transport, Warehousing and Inventory
Distance, Travel and Warehousing
Stock, Warehousing and Communication
Communication, Inventory and Transport
29
Which form of influence is 'attitude' on marketing?
Economic
Psychological
Government
Sociocultural
30
Production Marketing Approach is -
Mass production with mass marketing approach
Actively promoting and advertising products to sell
Businesses perception that "If we make it, they will buy it"
Increasing level of marketing with increasing production
31
'Fine print' and packaging is a form of -
Price discrimination marketing strategy
Warranty marketing strategy
Implied condition marketing strategy
Deceptive and misleading marketing strategy
32
The Sales Approach is -
Business emphasising production due to increased promotion
Business emphasising selling through standardised marketing
Business emphasising selling through production
Business emphasising selling due to increased competition
33
Motive is what type of influence on marketing?
Government
Sociocultural
Economic
Psychological
34
What type of influence on marketing is 'Good taste in advertising'?
Consumer law
Ethical
Environmental
Consumer choice

HSC Business Studies - Marketing Flashcards | StudBud