What is primary research?

Research you undertake yourself

Market Segmentation is...

Splitting the market into similar groups

What is a fixed cost?

A cost which doesn't vary with the amount produced.

When neither a profit or loss is made

The money a business has left after bills

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Marketing & Enterprise concepts R064

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#Enterprise and Marketing#R064#Outcomes 1 and 2

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Questions 21

Answers

1
Which of the following is a variable cost?
Rent
Salaries
Advertising
Raw Materials
2
What is secondary research
Research that already exists
Research you do yourself
Research that only one person does
Research that you do second
3
Which of the following is a fixed cost?
Raw Materials
wage
Rent
packaging
4
Market research is
Finding out what the competition is doing
Finding out about the market
Finding out what customers want
All of the above
5
Why is market research important to a business?
To go in the business plan
Gives them something to do
Lets them meet people
Aids decision making
6
What is revenue?
Money borrowed by a business
The money a business starts with.
The money generated from sales
The money spent by a business
7
At what point does breakeven happen
TR > TC
TR - TC
TR = TC
TR < TC
8
Which of the following is a type of secondary research
Competitors data
Consumer trials
questionnaire
Focus Group
9
Segmentation ensures customers needs can be better matched.
False
True
10
How do you calculate breakeven?
TR - Selling Price
TR - TC
Contribution/FC
FC/Contribution
11
How can businesses get feedback from their customers?
From a friend or family member
From other businesses
They don't need feedback
Surveys
12
What is a variable cost
A cost that varies with output
A cost that doesn't vary with output
A cost tat moves
The money a business spends
13
What is primary research?
Research that already exists
Research you do first
Research only one person does
Research you undertake yourself
14
Market Segmentation is...
The different pieces of an orange
Splitting the market into similar groups
The different businesses in a market
Splitting the business into different departments.
15
How do you calculate revenue?
TR = Price - FC
TR - Price - TC
TR = Price X Quantity
TR = FC + Price
16
What is a fixed cost?
Money spent by the business
A cost which doesn't vary with the amount produced.
A cost which varies with the amount produced.
A cost that stays where it is
17
What is breakeven?
When a business makes a profit
When a business makes a loss
When neither a profit or loss is made
When a business pays its bills
18
What is profit?
The money a business has left after bills
The money a business receives
The money a business spends
The money a business borrows
19
Which of the following is NOT a way to segment the market
Location
Name
Age
Gender
20
How do you calculate TC?
TC = FC - VC
TC = VC - FC
TC = FC + VC
TC = FC/VC
21
Which of the following is a method of primary research?
Government publications
Internet
Sales Report
Questionnaires

Marketing & Enterprise concepts R064 Flashcards | StudBud