BTEC UNIT 9: PRINCIPLES OF MARKETING - LA A D1

What should marketing be at the heart of?

• The business

• The supply chain

• The production line

• The financial department

What is one of the main benefits of marketing for businesses?

• Reduces production costs

• Increases market share

• Decreases employee turnover

• Lowers tax obligations

What is a key reason businesses use marketing to understand customer needs?

• To increase production speed

• To focus on the needs of their target customers

• To reduce the number of employees

• To eliminate competition

What is an example of a SMART objective mentioned in the text?

• Increase profits by 10%

• Increase online sales by 20% in 12 months

• Reduce costs by 5%

• Hire more staff

What is a characteristic of B2B markets?

• Selling small quantities to many people

• Selling high volumes to industrial buyers

• Selling directly to the public

• Selling only online

Who are the typical buyers in B2C markets?

• Industrial buyers

• Private individuals and households

• Only large corporations

• Only government agencies

What is a key difference between goods and services markets?

• Goods are tangible; services are intangible

• Goods are cheaper; services are expensive

• Goods are faster to deliver; services take time

• Goods are for businesses; services are for individuals

What do services markets relate to?

• Sales of products

• Sales of different types of services

• Sales of capital goods

• Sales of consumer goods

Which of the following is NOT a characteristic of capital goods?

• Used to make another product

• Bought by businesses

• Consumed by end users

• Used in production

What is the primary focus of market-orientated businesses?

• Identifying customer needs and wants

• Focusing on expertise to produce innovative items

• Earning revenue from advertisers

• Selling goods that have already been produced