G-10- FINAL EXAM- REVISION

Norah’s business sells vegetables to restaurants.

 

What type of market is Norah’s business a part of?

• Industrial market

• Stock market

• Consumer market

• Media market

Which one of the following is an example of demographic segmentation?

• Small cars in big cities

• Shoes for children aged 2-5 years

• Heaters for cold weather

• Umbrellas for rainy countries

People use apps on their smartphones to buy tickets for the cinema. They no longer buy printed tickets on paper.

What type of market change is this an example of?

• Taste and fashion change

• Technologies change

• Salaries change

• Populations change

Muneerah wants to sell fresh fruit juice in Sharjah. She did market research to find out about other businesses that also sell fresh fruit juice in Sharjah.

Which benefit of market research is this an example of?

• Building customer profiles

• Identify market gaps

• Finding out about competitors

• Predicting market changes

Which primary research method is used when a business brings together a group of consumers to discuss elements of a product?

• Focus group

• Observation

• Questionnaire

• Interview

What is market research?

• The process of setting an appropriate price that meets the needs of customers.

• The process of collecting information about customers, competition and the market.

• The process of creating distribution channels so the product can reach customers.

• The process of communicating to customers how their needs will be met.

Louis Vuitton handbags sell for Dh7,000. What is the Unique Selling Proposition of Louis Vuitton handbags?

• Low quality and cost-effective

• Technology

• High quality and luxury

• Healthy and organic

Snickers bars often have different ingredients added.

Which characteristic of a successful product is this an example of?

• A product should satisfy a need or a want of customers.

• The product should have a special design to make it different to other products

• A product can be changed to include new features

• It must be possible to make a profit.

Which part of product design describes how the product works and what it does?

• Slogan

• Cost-effectiveness

• Aesthetics

• Function

A business can calculate Price Elasticity of Demand to help them make pricing decisions.

What happens when demand is elastic?

• An increase in price will mean a decrease in revenue

• An increase in price will mean an increase in revenue.

• A decrease in price will mean a decrease in revenue

• A change in price will make no difference to revenue.