UNIT 9 MARKETING QUIZ

Marketing helps a business to:

• Get customer loyalty

• Get a loan from the bank

• Develop their image, reputation, product and customer loyalty

• Meet customers needs

What does M stand for in SMART?

• Minimum

• Measurable

• Monthly

• Marketing

Costco selling to a corner shop trader is known as what kind of market?

Logo, symbol and celebrity endorsements are all components of.....

• Brand

• Brand name

• Brand dimension

• Brand work

Primary research is the one where

(a)  

Benchmarking means

• doing research on a bench

• checking how a business is performing and comparing with other businesses

• your profits are more than your competitors

• Assessing customer needs

What is an augmented product?

• A product sold only online

• A product extension

• A new product

• A product that comes with extra's to make it more appealing to buy

Price Taking is when a business...........

• Sells at a lower price

• Sells products at a high price

• Sells goods at the same price as their competitors

• Offers a discount

A market share is.....................................of sales of product by one company and shows popularity of a particular product type.

• Percentage

• whole amount

• recap

• area

Fast growing markets have ..............

• High sales/profits

  More competition

• No threat to large business

• can demand premium price

• specialist target audience