stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Chapter 16 - What is marketing (AS) Flashcards | StudBud
Explore
/
Chapter 16 - What is marketing (AS)
Chapter 16 - What is marketing (AS)
16 terms
·
StudBud Administration
·
128 plays
#CIE #Business
Flashcards
16 cards
F
Practice quiz
P
Host live
L
Questions
16
Answers
1
Supply is always...
more than demand
less than demand
downward sloping
upward sloping
2
market share
the business that is 'market leader;
the size of the market
the % one firms sales account for total market sales
the % all firms sales account for total market sales
3
What is supply??
The amount of g/s a business is willing and able to produce
The amount of g/s a consumer is unwilling and unable to buy
The amount of g/s a consumer is willing and able to buy
The amount of g/s a consumer is willing but unable to buy
4
3 typical market segments
niche, mass, CSR
geographic, children, psychographic
geographic, demographic, psychographic
smart, pretty, funny
5
product orientated means...
Following CSR in marketing
Focusing on the strengths of the business
Focusing on product quality
Following trends and conducting extensive market research
6
Market leader
the business that opened first
the business with the largest market share
the size of the market
the business with smallest market share
7
A shift in demand could be caused by....
An decrease in tax on that good
Lower costs of production
a subsidy paid to the producer
A decrease in income tax
8
What is demand??
The amount of g/s a business is willing and able to produce
The amount of g/s a consumer is unwilling and unable to buy
The amount of g/s a consumer is willing but unable to buy
The amount of g/s a consumer is willing and able to buy
9
Demand is always...
upward sloping
less than supply
downward sloping
more than supply
10
Market share
firm's sales/total market sales x 1000
firm's total market sales/sales x 100
firm's sales/total market sales x 100
firm's sales x total market sales x 100
11
Niche marketing is...
a sub-section of a larger market with specific needs
selling to largest section of the market
will always be more profitable
always more competitive
12
Marketing is...
Identifying consumers fears and satisfying them profitably
Is part of HR
Identifying consumers wants and satisfying them profitably
Advertising and promotion
13
Market segmentation
mass marketing
splitting the market in to consumers with different needs
is not a task of marketing departments
the amount of businesses in a market
14
equilibrium price
is when price is the lowest
always causes large shortages
Clears all surplus and shortage
always causes large surplusses
15
Market orientated means...
Focusing on product quality
Following trends and conducting extensive market research
Focusing on the strengths of the business
Following CSR in marketing
16
A shift in supply could be caused by....
A decrease in income tax
Increases in consumer incomes
The product becoming on-trend
An decrease in tax on that good
