Business Marketplace

In the business marketplace, the acronym SOM stands for...

• Share of market

• Style of market

• Size of market

• Strength of market

The 4P's Marketing Mix comprises...

• Product, Price, Place & Promotion

• Promotion, Price, Place & Perspective

• Potential, Perspective, Price & Product

• Product, Perspective, Place & Product

The 7P's of marketing include additional 3 aspects, choose three options...

• Perspective

• Process

• Physical Environment

• People

The 4C's of Marketing include...

Choose 4 options

• Customer wants and needs

• Cost to the customer

• Convenience

• Communication

• Collaboration

Key market segments can include

• Behavioural

• Psychological

• Demographic

• Lifestyle

• All of the above

PEST Analysis includes which factors...

• Political, economic, social and timescales

• Political, economic, social and techological

• Personal, economic, social and technological

• Political, energy, service and technological

In a SWOT Analysis, opportunities are...

• Internal & helpful

• External & helpful

• Internal & harmful

• External & harmful

The purpose of quality management is to...

• Keep the customers off your back

• Ensure your products and services are of the best quality and adhere to all legal requirements

• Keep the tax man away

• Satisfy the boss

The key stages of a supply chain include...

• Raw materials, distributor, consumer

• Supplier, manufacturer, retailer

• Raw materials, manufacturer, consumer

• Raw materials, supplier, manufacturer, distributor, retailer, consumer

Which two of these statements are correct...

• Quality control is the process of managing for quality

• Quality assurance is the process of managing for quality

• Quality control is used to verify the quality of the output

• Quality assurance is used to verify the quality of the output