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marketing A level Edexcel recap Flashcards | StudBud
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marketing A level Edexcel recap
marketing A level Edexcel recap
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Questions
33
Answers
1
Leaflets, posters, merchandising, personal selling are all
below-the-line promotions
above-the-line promotions
2
Focus groups are used in
qualitative market research
quantitative market research
3
Penetration pricing strategy
low price to defeat rival
high price for limited time
low price to get a foothold in the market
based on cost of production + mark up
4
Income elasticity results are
always negative
either positive or negative
always zero
always positive
5
The problem child has
high market share, low market growth
low market share, low market growth
low market share, high market growth
high market share, high market growth
6
Cash cow, star, problem child, dog are in
The Boston Grid
The Hyundai Matrix
The Boston Matrix
The Matrix trilogy
7
Add 25% mark-up to production cost of £6
final price = £4.50
final price = £150
final price = £7.50
final price = £6.25
8
B2B inbound marketing strategy
attract potential customers to your website
cold call potential customers, trade shows
9
Risk and uncertainty in a market
Risk relates to external events
Risk relates to internal decisions
10
Oceanarium price cut by 26%, PED = - 0.5
visitors numbers unchanged
visitors down by 13 %
visitors up by 13 %
visitors up by 5 %
11
Factor affecting demand that causes a shift
income of consumers
price
12
Demand for luxuries tend to be
income inelastic
income elastic
zero elasticity
negative
13
Bias in market research results can be due to
a small sample
well-worded questions
a very large sample
using a broad range of respondents
14
If the price of complementary goods increases then demand for your product will
increase
reduce
15
The formula for price elasticity of demand
% change in income / % change in price
% change in quantity / % change in price
% change in price / % change in quantity
% change in quantity / % change in income
16
A group with similar characteristics and preferences
chocolate orange segment
market segment
mass market
global market
17
Market research to find opinions, beliefs of small groups of pet owners
quantitative
qualitative
18
The product life cycle has a development stage and
five other stages
four other stages
two other stages
three other stages
19
More likely to gain economies of scale
niche marketing
mass marketing
20
A small segment of a market
niche market
mass market
outbound strategy
inbound strategy
21
UK Incomes rise 15% and sales fall 10%, Calculate income elasticity (YED)
-0.67
1.5
-1.5
0.67
22
Demand for a product with a weak brand in a competitive market is likely to be
price inelastic
price elastic
23
More likely to use above-the-line promotion
mass marketing
niche marketing
24
If demand is price elastic and the price of your product is reduced
revenue will fall
revenue will rise
25
Changes in distribution to reflect social trends
online sales, products downloaded or streamed
more high street shopping, more loyalty
26
A successful advert for a product will shift
demand to the right
demand to the left
nothing
supply to the left
27
Products with a negative income elasticity
normal goods
luxuries
desirable items
inferior
28
Distribution channel with lowest price to buyer
Producer to agent to wholesaler to retailer to consumer
Producer to wholesaler to retailer to consumer
Producer to retailer to consumer
Producer to consumer
29
A drought would cause supply of a crop to
shift to the right
shift to the left
30
Advertising using the mass media
above-the-line promotion
below-the-line promotion
31
Extension strategies for a chocolate product
target a new market, add new flavours
withdraw adverts, increase the price
32
If a food product causes sickness then
demand will shift to the left
demand will shift to the right
33
Cost of production, external shocks, taxes
factors affecting supply
factors affecting demand
