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Marketing Terminology Flashcards | StudBud
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Marketing Terminology
Marketing Terminology
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#marketing #terminology for #HSC #BusinessStudies
Flashcards
28 cards
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Questions
28
Answers
1
Which of the following is a unfair competitive behaviour?
Stealing competitors employees
Price fixing
Long-term loss leaders
Promotions
2
What is the correct definition of 'market share'?
The amount of competitors in a market
Price in a small business compared to a large business
The percentage of total sales compared to competitors
Percentage of money within a business
3
Which of following is the correct definition of:
Consumer Markets
Production and sale of raw materials occur.
Goods that are used as supplies are traded.
Sell their products directly to consumers
Where retail businesses purchase products
4
Which of following is the correct definition of:
Industrial Market
Production and sale of raw materials occur.
Goods that are used as supplies are traded.
Sell their products directly to consumers
Where retail businesses purchase products
5
What are the three marketing approaches?
Production, Selling, Marketing
Good, Neutral, Bad
Finance, Marketing, Operations
Price, Place, Promotion
6
Which of the following is an example of a psychological factor?
Lifestyle
Policies
Mortgage
Motivation
7
What is the strategic role of a business?
Develop goods/services that gain a long-term customer base
Assist in the transformation processes
Differentiate products based on design and technology
To sell as many goods as possible for the cheapest price
8
Define 'socio-cultural'
Personal characteristics
Level of income and education
Regulation of economy and government
Influences from society and culture
9
Which of the following is the correct definition of 'Marketing'?
Selecting a group of customers and selling a product to them
Promoting a product based on its price
Developing goods and services
Developing a product and implementing a series of strategies
10
Marketing tool that uses general survey to see the interests of consumers & sells a product...
Price Discrimination
Sugging
Unethical Practices
Marketing
11
True or False: A manufacturer can refuse to sell goods to a retailer who does not sell at RRP.
TRUE
FALSE
12
What is the Australian Consumer Law?
Uniform legislation for consumer protection
Unethical practices of businesses
Legal requirements on consumer behaviour
Law against consumer unsafe conduct
13
What are the main factors influencing customers?
Legal, Political, Institutional and Government
Social, Cultural, Theoretical and Perspectives
Psychological, Socio-Cultural, Economic and Government
Market, Location, Price and People
14
Which of the following is most important in the the Production Approach?
Advertising
Quality
Consumers
Quantity
15
What is the Selling Approach?
Convincing customers to buy a product
Creating products for the cheapest prices
Developing a product that meets the needs of consumers
Creating the best possible product available
16
Select group of customers or small client base is called...
Market Segments
Mass Market
Market Choice
Niche Market
17
What are the three types of government factors?
Mortgage loans, money and food
Location, community and lifestyle
Laws, government and economy
Fiscal policies, monetary policies and laws
18
What are the four main strategic roles of marketing?
Operations, Human Resources, Finance & Globalisation
Choice, Brand Awareness, Advertising & Campaigns
Choice, Standard of Living, Employment & Brand Awareness
Choice, Competition, Standard of Living & Environment
19
Consumer expectations that a business will provide a good thats in working order is called...
Implied Warranty
Segregation
Implied Ideas
Being Nice
20
What is the major emphasis of the Marketing Approach?
Grouping customers based on characteristics
Measuring individuals' quality of life
Developing an integral approach to selling
Creating a high quality product
21
Which of following is the correct definition of:
Intermediate Market
Goods that are used as supplies are traded.
Production and sale of raw materials occur.
Sell their products directly to consumers
Where retail businesses purchase products
22
The breakdown of small markets in a large market based on similar characteristics is called...
Niche Market
Market Choice
Mass Market
Market Segments
23
An example of a 'sin good' is...
Clothing
Religious Items
Cigarrettes
Alcohol
24
What are the three main categories of consumer markets?
Mass, Small, Niche
Large, Medium, Small
Happy, Neutral, Sad
Mass, Market Segments, Niche
25
What is price discrimination?
Providing businesses lower prices than the competitors.
Disadvantaging smaller businesses
Selling products for different prices if in bulk quantity.
Charging customers different prices for the same product
26
What are markets?
Businesses and their competition
Small shops that sell goods
Customer groups categorised based on similar characteristics
An element of the marketing mix
27
Which of following is the correct definition of:
Resource Market
Goods that are used as supplies are traded.
Sell their products directly to consumers
Where retail businesses purchase products
Production and sale of raw materials occur.
28
The market where the products are aimed at all consumers is called...
Niche Market
Market Segments
Mass Market
Market Choice
