Business Chapter 5: Marketing

What is the equation for value of products sold?

• Revenue x Product price

• Products sold x Product Price

• Revenue x Products sold

• Products sold / Product price

What is segmentation?

• Dividing customers into groups based on preferences

• Dividing customers into groups based on income

• Diving employees into different departments

• Dividing shareholders into specialized groups

Which of these is NOT a segmentation group?

• Gender

• Age

• Location

• Income

• Job

Which of these is NOT a purpose of market research?

• Level of Demand for goods and Service within the market

• Cost evaluation

• Requirements of customers

• Actions of competitors

• Target market

What type of data is size of the market measured in?

• Qualitative data

• Quantitative data

What is the market share equation?

• Market share = total market sales / sales of the product x 100

• Market share = sales of the product / total market sales x 100

• Market share = total market sales x sales of the product / 100

• Market share =sales of the product x total market sales / 100

Which of these is an internal pricing method?

• Business forecast

• Nature of the market

• Cost

• Degree of competition

Which of these is part of the Boston Matrix?

• Cash cows

• Advertising

• Sponsorship

• Public relations

Which of these will the business have little to no control of?

• Advertising

• Sales promotions

• Public relations

• Sponsorship

• Social media

Which of these is the first thing a business evaluates to be effective?

• Use the correct market mix

• Evaluate pricing structure

• Provide a good service

• Discover customer needs