Business Studies Quiz

Why are goods and/or services central to both marketing and operations?

• Because they are the only source of revenue for a business

• Because they are essential for meeting customer needs and wants

• Because they are required for legal compliance

• Because they are necessary for employee satisfaction

Why are ethical behaviour and government regulation important in marketing?

• To build customer trust and loyalty

• To reduce marketing costs

• To increase production efficiency

• To maximize shareholder profits

Why is a mix of promotional strategies important in the marketing of goods and services?

• To minimize competition

• To increase brand awareness and reach different target markets

• To reduce marketing expenses

• To simplify the marketing process

What is the role of marketing in the business?

• To handle financial forecasting

• To manage employee relations

• To strategically promote goods and services

• To solely focus on production and selling

What are the factors influencing customer choice in marketing?

• Psychological, sociocultural, and economic factors

• Environmental sustainability only

• Technological advancements only

• Government regulations only

What is an example of ethical behaviour in marketing?

• Price discrimination

• Engaging in fair competition

• Promoting products that may damage health

• Engaging in deceptive advertising practices

What is the purpose of situational analysis in marketing?

• To identify target markets

• To create a financial forecast

• To monitor and control the marketing process

• To develop marketing strategies

What is the process of establishing market objectives in marketing?

• Identifying target markets

• Comparing actual and planned results

• Developing a financial forecast

• Conducting market research

What is the main focus of market research in marketing?

• Conducting a SWOT analysis

• Comparing actual and planned results

• Developing a financial forecast

• Identifying target markets

How has globalisation affected marketing management?

• It has decreased the importance of customer satisfaction

• It has reduced the need for diverse marketing strategies

• It has increased competition and expanded target markets

• It has limited the reach of marketing efforts