Which of the following might cause a change in customer spending patterns?

An increase in the production of goods and services

The introduction of a new product to the market

Some markets have become more competitive because:

there has been a reduction in the barriers to trade

some businesses have left the market

the market is dominated by a few large firms

consumers have more money to spend

Which of the following is the best example of an industrial good

A new computer-controlled machine

A benefit of niche marketing is:

profits per unit sold are often very high

the product can be sold to diffirent types of consumer

Which of the following is not a method for segmenting a market

Dividing the market according to price

Dividing the market according to gender

Dividing the market according to lifestyle

Dividing the market according to consumer income

usually more accurate than secondary research

less expensive then secondary research

the best method of researching the market

less time-consuming to collect than secondary research

Market research data might not be accurate because:

interviewers are not properly trained

interviewees always answer truthfully

too many people are asked to take part in the survey

Which of the following describes systematic rendom sampling?

The target market is divided into groups and a fixed number is selected from each group

The target market is divided into groups and a selected sample is chosen at random from each group

Every member of the target market has an equal chance of being selected

Every nth member of the target market is selected

Which of the following statements best describes the marketing mix?

It combines all the elements that are important in marketing

It will guarantee the success of a product

It is the decisions that a business must take to market a product effectively

It is not important for the marketing of industrial goods

The main purpose of an extension strategy is:

to extend the maturity stage of a product

to keep a product in its growth stage for as long as possible

to prevent a product from entering the maturity stage for as long as possible

to slow down the decline of a product

Which of the following is not an aim of promotion?

To improve the quality of a product

To attract the attention of consumers

To encourage retailers to stock the product

A benefit to producers of e-commerce is:

they can market their product to more consumers

more firms are able to enter the industry

people prefer to buy products using the internet

competition will decrease prices

A business's promotional activities are most influenced by:

the number of consumers in the market

the size of the marketing budget

Which of the following is an example of legal controls on marketing strategy?

Advertising must not be used to persuade consumers to buy products they don't need

Businesses must be market orientated

The government encourages competition in markets

Businesses must not agree with each other to set the same price for a product

Which of the following is sometimes a problem of entering foreign markets?

There is competition in the market

The firm has carried out market research

Consumers speak the same language

There is strong brand loyalty to existing products

Business midterm2

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40 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The efficient use of resources will help a firm to become more competitive

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The role of marketing is to convert consumers wants into a need

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Industrial goods are sold to the final consumer

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Decreasing spending on advertisements will increase sales

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Deregulation increases competition market

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The efficient use of resources will help a firm to become more competitive

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Small firms are able to survive in markets dominated by large firms because of niche markets

True

False

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Business midterm2

The efficient use of resources will help a firm to become more competitive

The role of marketing is to convert consumers wants into a need

Industrial goods are sold to the final consumer

Decreasing spending on advertisements will increase sales

Deregulation increases competition market

The efficient use of resources will help a firm to become more competitive

Small firms are able to survive in markets dominated by large firms because of niche markets

Gender is one method of demographic market segmentation

Market research provides a business with information about its customers, competitors and market

Most businesses are product orientated

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