Marketing Concepts Quiz

Define the term 'marketing'.

List two roles of marketing in a business.

• Identifying customer needs

• Satisfying customer needs

• Maintaining customer loyalty

• Gaining information on customers

• Anticipating changes in customer needs

What is meant by 'market share'?

Give two methods a business might use to maintain customer loyalty.

• Loyalty card schemes

• Continuous purchase discounts

• After-sales services

• Customer updates

Why is it important to gain information on customers?

State two objectives a marketing department might have.

• Raise product awareness

• Increase sales revenue

• Maintain market share

• Enter new markets

• Develop new products

List two reasons why customer spending patterns might change.

• Changes in income

• Changes in technology

• Changes in tastes and preferences

• Ageing population

What can happen if a business fails to satisfy its customers?

Give one example of how an ageing population can affect demand.

Explain why businesses need to anticipate changes in customer needs.