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Operations and Marketing Revision Flashcards | StudBud
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Operations and Marketing Revision
Operations and Marketing Revision
15 terms
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StudBud Administration
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#marketing #operations
Flashcards
15 cards
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Questions
15
Answers
1
Which of the following describes a market segment?
A product aimed at a wide group of customers
A product aimed at customers that share characteristics
A product sold to a specific group of customers
Products sold to businesses used in the production process
2
The strategic role of marketing is to:
Develop marketing strategies
Develop & implement strategies to generate revenue and sales
Identify the target market
Advertise products
3
A business offers retailer stock at lower price to other retailers. The business is engaging in
Sugging
Deceptive advertising
Price discrimination
Implied conditions
4
Which of the following is a transformed resource for a medical clinic?
Medical diagnostic equipment
Doctors and nurses
Patients
Medicine
5
What does the performance objective flexibility mean in operations?
Business aims to do operations at the lowest cost
Business is able to change operations as required
Business aims to do operations quickly
Business aims to perform operations and deliver on time
6
Which of the following marketing strategies is concerned with the packaging of a good?
Place
Price
Promotion
Product
7
Which of the following products has the shortest lead time?
Daily newspaper
Designer clothing
Cars
Fruit
8
What is the influence of international trade agreements on the operations function?
Domestic businesses must become more efficient to compete
Nations can protect industries of national importance
Businesses become more environmentally sustainable
Nations can trade more easily with each other
9
Which of the following is an example of a loss leader pricing strategy?
Medical co. setting high price for vaccines
Supermarket sells cheap fruit to entice consumers into store
Airline enters market selling tix cheaper than competitors
Fashion store sets high price to enhance its image
10
A restaurant invites a leading food critic to sample new menu. The promotional strategy used is
Advertising
Personal selling
Opinion leaders
Word of mouth
11
What is the strategic role of operations?
To give the business a competitive advantage
To make goods and services that consumers want to buy
To reduce costs of making goods and providing services
To correct problems as they occur
12
The marketing mix consists of four major elements:
Product, Price, Promotion, Place
Selling, Buying, Trading, Advertising
Operations, Marketing, Finance, HR
People, Place, Price, Products
13
What is market segmentation?
Dividing the niche market into sections.
Identifying the target market.
Creating a niche market.
Dividing the total market into segments.
14
Market share refers to:
Increasing sales to gain a larger share
The % of total sales a business has compared to competitors
Increasing share prices
Sharing the market with competitors
15
Markets are segmented according too which categories?
Cost, Needs, Wants, Differentiation
Systemic, Synergy, Dynamic, Engaging
Demographic, Geographic, Physiographic, Behavioural
Demographic, Psychological, Economical, Strategical
