Market research & Marketing Quiz

Marketing is...

• the identification of customer wants

• the sourcing of information about a market to identify what customers want

• the identification of customer wants and needs and satisfying them profitably

Who is a customer?

• the final person who buy a product for their personal use

• a business or person that buys a product for reselling purposes

Identify the different sections of the marketing department

• Sales team

• market research team

• promotions team

• distribution team

Identify 2 roles of marketing from the possible options

• identifying customer needs

• forecasting the finances of the business

• arranging the workforce of a business

• building customer relationships

Who is a consumer?

Identify, from the list, reasons why markets have become more competitive

• globalisation of markets

• increased trade restrictions

• improvements in transportation

• the ability to use the internet for e-commerce

How do we measure the size of a market?

• the total profit generated by firms

• the total number of sales for the product

• the total number of consumers and customers in the market

• the value of sales of the product

Define the term mass marketing. Identify one benefit & one drawback of mass marketing

Define the term niche marketing. Identify one benefit & one drawback of niche marketing

Which definition below correctly defines market segmentation

• the process of breaking down a market into sub-groups that share similar characteristics

• an identifiable sub-group of a whole market the consumers have similar characteristics