Edexcel GCSE Business 2.2.2 Marketing Mix: Price

The amount of product sold is known as

• profit

• sales revenue

• sales volume

• variable costs

Businesses can increase sales volume by

• raising the price

• cutting the price

Which of the following is an example of a low margin, high volume retailer?

• 
• 
• 

What is the maximum you would spend on a drink in a cafe?

• less than £2- Its mostly hot water

• £2-£3

• £4

• £5+

What are the features of a mass market?

• High levels of competition

• High prices

• Low prices

• High levels of consumption

A market which caters to a small number of customers with very specific tastes is able to charge higher prices for their products. This is known as a (a)   market

Businesses in a niche market are likely to have

• Low profit margins

• High profit margins

Do you ever use price comparison apps or check prices on the internet before buying a product in a store?

• Yes all the time

• Sometimes

• Never