A-Level Business (Edexcel) - Theme 1, Marketing

Which is true of niche markets?

• You sell undifferentiated products
• You sell differentiated products

What is a dynamic market?

• One that only grows
• One with slow (or very minor) growth or retraction
• One that changes rapidly
• One with many businesses

Who would likely have a higher market share in the chocolate market?

• Cadbury
• Hotel Chocolat

A mass market is likely to sell a high volume of goods at a low profit margin?

• True

• False

What is the brand shown?

• Dairy Milk
• Maltesers
• Oreo
• Galaxy Ripple

Which of the following is not a characteristic of a mass market?

• Smaller quantity of products produced

• Large customer base

• High sales and profits.

• Customer needs and wants are less specific.

Which of the following relates to qualitative market research ?

• large scale survey

• numerical data, statistics

• subjective opinions, attitudes

• closed questions

Demand increases by 10% when price is cut by 25% therefore

• demand is price elastic

• demand is price inelastic

• PED = -2.5

• YED = -0.4

Sales of inferior goods should increase during

• an economic boom

• a recession

• rapid economic growth

• a situation of rising incomes

Factors affecting demand : Tastes (trends), income, c............., substitutes

• cash cow

• condiments

• complements

• competition