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Business Studies AS Unit 3.3 Flashcards | StudBud
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Business Studies AS Unit 3.3
Business Studies AS Unit 3.3
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Business Studies Quiz
Flashcards
45 cards
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Questions
45
Answers
1
Which of the following does a Price Elastic product fit into?
Above 1 or Below -1
Positive
Negative
Between 1 and -1
2
Which is the least relevant influence on positioning?
Brand image
Unit cost
Price
Level of service
3
At which stage of the product life cycle is cash flow negative?
Growth
Decline
Maturity
Introduction
4
As income increase, which of the following happen:
Demand increases for inferior goods
Price decreases for Normal goods
Supply increases for inferior goods
Demand increases for normal goods
5
What does Relationship Marketing aim to achieve?
Increase in share price
Decrease in variable costs
Customer retention
Permanent deals with suppliers
6
Which is not true of the following: A strong brand means?
Word of mouth promotion occurs
Demand is more likely to be price elastic
Customers buy other products under the same brand
Other brands may struggle to enter the market
7
What measures the level of sales in a given period in terms of finance?
Market Growth
Sales Growth
Sales Volume
Sales Value
8
Which of the following is an example of an extension strategy?
Increased promotion for the product
Extending the brand portfolio
Delayering employees who fail to innovate
Lowering average unit cost
9
Which of the following is most likely to lead to a USP?
Higher Quality
Innovation
Differentiation
Dynamic Pricing
10
Which of the following is not a part of market research?
Gathering data
Interpreting data
Analysing data
Selling data
11
Which of the following do not appear on the Price Elasticity of Demand formula?
x 100
% change in quantity demanded
% change in price
% change in sales volume
12
Which of the following is not an internal influence on marketing objectives?
The amount the business can produce
Business stratergy
Employees
Technological change
13
Which is an example of brand loyalty?
Lower labour turnover
Repeat purchase
Increased brand portfolio
Extension statergies
14
What is a market?
Where businesses trade with one another
A place to buy food and other items
The place where delayering takes place
A place where there is buyers or sellers
15
Which of the following is a value of the Boston Matrix?
It raises demand of the product in new segments
It helps forecast the market growth
It helps calculate the market share of the business
It shows when the business needs new products
16
Why were People, Process and Physical environment added to the marketing mix?
Increases in delayering
Growth in the service economy
Higher demand for consumer products
Struggle for new businesses to enter the market
17
Which of the following stages from the Boston Matrix correlates to decline?
Question Mark
Cash Cow
Dog
Star
18
The probability that research findings are correct is known as:
Confidence Level
Confidence Interval
19
Predicting sales base on previous trends is known as:
Extrapolating
Delayering
Forcasting
Correlating
20
On the Boston Matrix, a low market growth, high market share product is known as a?
Problem child
Cash Cow
Dog
Star
21
Which of the following appears second on the product life cycle?
Extension
Maturity
Decline
Growth
22
Which of the following directly targets small groups of people?
Saturated markets
Sample markets
Niche markets
Mass markets
23
Which of the following would a manager not consider in a distribution decision?
The degree of pay across the business
The degree of coverage
The degree of demand from customers
The degree of control the business has
24
A correlation of 0.3 is which of the following?
Weak Positive
Strong Negative
Weak Negative
Strong Positive
25
Which of the following is not an example of an ethical consideration?
Promotion through children
Harm to consumers
Promotional products
Profit explotation
26
What is meant by sampling?
A group of people representing the target population
The population of people the business markets to
Allowing customers to try the product
When suppliers leases products to firms for free
27
Industrial products are?
Goods bought for use in business processes
Goods bought for consumption by the public
28
Which of the following were in the original "4p's" of the marketing mix?
Promotion
People
Process
Physical Enviroment
29
Which of the following factors does an interview include?
Primary research
Secondary Research
Quantitative data
Qualitative Data
30
Which of the following statements isn't relevant to market research?
What are they buying?
When are they buying the product?
What is the profit margin on the product?
Who is buying the product?
31
What is market share formula?
Sales revenue / Market Sales revenue x 100
Sales revenue / Market sales volume x100
Selling price / Sales revenue x100
Sales revenue / Number of businesses operating x 100
32
Which of the following applies to an inferior good?
They have a positive YED
They have a negative YED
They have a positive YED
They have a negative PED
33
Which of the following is an aim of the Marketing Department
Produce goods to meet demand
Recruit employees to brand the product
Satisfy customer needs
Maximise profitability
34
What is the marketing function?
To delayer incompetent employees
When the business gains more from sales than customers
Provide the link between the customer and the business
To attain information which can improve the profits
35
Which of the following is an external influence on the marketing mix?
Competition
Changes to operations
Financial position
Changes to objectives
36
Which of the following would be the ideal pricing method for a strong USP?
Cost-plus pricing
Price Penetration
Price Skimming
Dynamic pricing
37
Which of the following is not a type of segmentation?
Demographic segmentation
Income segmentation
Behavioural segmentation
Political segmentation
38
Which of the following is the least relevant to Marketing?
Segmentation
Positioning
Targeting
Outsourcing
39
E-commerce has enabled to businesses to do which of the following?
Target mass markets
Enable sales online
Sell products in bulk
Gather information quickly and effectively
40
Which of the following is not an example of a marketing objective for a business?
Brand Loyalty
Retaining finance
Market share
Sales growth targets
41
Which of the following would the quality of the product be least relevant to?
Place
Process
Price
Product
42
What is the abbreviation for Income elasticity of demand?
PED
IED
YED
AED
43
Which of the following does not appear on the promotional mix?
Technological enviroment
The message
Positioning
Promotional budget
44
Which of the following is not a consumer product?
Specialty products
Shopping goods
Convenience items
Raw materials
45
Which of the following are uses for market mapping?
Supporting a strong brand image
To find a unique area to differentiate your brand
Finding out whether rivals are copying ideas
To analyse the growth of products
