What is the definition of secondary research (desk)?

When a business uses information that already exists.

When a business collects new data through surveys.

When a business only uses primary data sources.

When a business conducts experiments to gather data.

Which of the following is a disadvantage of primary research?

It can be very expensive to collect.

The data might not be wholly relevant.

Which of the following is a disadvantage of secondary research?

The source might be biased / untrustworthy.

It can be time consuming to collect.

Poorly designed questionnaires give poor quality results.

It can be trusted because YOU gathered it.

Complete the following table about qualitative and quantitative data: Qualitative data: This is data related to attitudes, opinions and feelings. For example, the reasons why you do / do not buy a particular product, and your feelings about a particular brand. It is difficult to statistically analyse this data, but it can give you more detailed information. Quantitative data: ________

This is data related to numbers (quantity). For example, the number of times you go shopping per week, or the number of hats you own. This data can be added up and statistically analysed.

This is data related to personal preferences and emotions. For example, your favorite color or your opinion about a movie.

This is data that cannot be measured or counted, such as your thoughts about a product.

This is data that describes the quality of an experience, such as how much you enjoyed a meal.

Identify five ways that the population can be segmented into groups:

1. Age 2. Gender 3. Income 4. Location 5. Lifestyle

1. Height 2. Eye color 3. Shoe size 4. Favorite color 5. Pet ownership

1. Zodiac sign 2. Favorite food 3. Handedness 4. Birth month 5. Blood type

1. Hair length 2. Music taste 3. Car brand preference 4. Favorite sport 5. Number of siblings

Identify four features of a good product:

1. It is innovative (e.g. unique, creative, original). 2. It is made to a good standard (high quality). 3. It is functional (it does what it is supposed to do). 4. It is user-friendly (easy to use and understand).

1. It is expensive. 2. It is difficult to use. 3. It is outdated. 4. It is poorly made.

1. It is only available in one color. 2. It is not reliable. 3. It is complicated to repair. 4. It is not safe to use.

1. It is made from low-quality materials. 2. It is not innovative. 3. It is not functional. 4. It is not user-friendly.

Explain the benefits of 'branding':

The benefits of branding are: 1) Brand loyalty, where well-known brands have loyal customers who return repeatedly. 2) Higher price, as well-known brands can charge more for their goods and services than non-branded goods.

Branding leads to increased production costs and lower customer retention.

Branding reduces the visibility of a product in the market.

Branding ensures that all products are sold at the lowest possible price.

Draw and label the Product Life Cycle diagram as shown below:

The Product Life Cycle diagram should include the following stages: a Introduction, b Growth, c Maturity, d Decline, with Sales on the Y-axis and Time on the X-axis.

The Product Life Cycle diagram should include the following stages: a Planning, b Execution, c Review, d Closure, with Revenue on the Y-axis and Cost on the X-axis.

The Product Life Cycle diagram should include the following stages: a Launch, b Expansion, c Saturation, d Withdrawal, with Profit on the Y-axis and Years on the X-axis.

The Product Life Cycle diagram should include the following stages: a Start, b Peak, c Plateau, d Fall, with Units Sold on the Y-axis and Months on the X-axis.

Identify two ways to 'extend' the life cycle of a product (extension strategies):

1. A business could lower its prices. 2. A business could redesign the packaging to be more appealing.

1. A business could stop advertising. 2. A business could reduce product quality.

1. A business could discontinue the product. 2. A business could increase production costs.

1. A business could ignore customer feedback. 2. A business could limit distribution channels.

Complete the following table about pricing methods: Method: Skimming Definition, example, pros & cons:

Price skimming is where the price of a product starts high because the product is new or unique and demand is likely to be high. The price comes down in stages as demand falls over time. Example: A new games console starts at £299, then comes down to £249, then £199. Pros: Maximises sales revenue in high demand, pays off R&D costs, targets different income groups. Cons: Setting the price too high initially might put customers off.

Price skimming is where the price of a product starts low to attract customers and then increases as demand rises. Example: A new games console starts at £199, then increases to £249, then £299. Pros: Attracts price-sensitive customers first. Cons: May lose out on early high profits.

Price skimming is where the price of a product remains constant regardless of demand. Example: A new games console is always £249. Pros: Simple pricing strategy. Cons: Misses out on potential revenue from high demand periods.

Price skimming is where the price of a product is set based on competitor prices only. Example: A new games console is priced the same as competitors. Pros: Easy to implement. Cons: May not reflect product uniqueness.

What is cost-plus pricing?

Adding a percentage to the cost of making/buying a product to ensure profit

Setting a price based on competitors' prices

Starting with a low price to enter a market

Setting a price based on customer demand

Which of the following is an advantage of cost-plus pricing?

It ensures products cover their costs and make a profit

It always results in the lowest price

It is only used in supermarkets

What is penetration pricing?

Starting with a low price to enter a competitive market

Setting a high price to maximize profit

Adding a percentage to the cost

Which of the following is a disadvantage of penetration pricing?

It might not make enough revenue to cover costs during the initial period

It is only used for luxury products

What is competitor pricing?

Keeping a close eye on competitors' prices and trying to match or beat them

Setting prices based on the cost of production

Starting with a low price to enter a market

Setting prices based on customer surveys

What is the definition of the Producer to Customer distribution channel?

The producer of a product sells directly to the customer.

The producer sells to a wholesaler, who then sells to the customer.

The producer sells to a retailer, who then sells to the customer.

The producer sells to an agent, who then sells to the customer.

Give an example of a business that uses the Producer to Customer distribution channel.

Dell computers sell directly to customers.

Walmart sells products from various brands.

Amazon acts as a marketplace for sellers.

Best Buy sells electronics from multiple manufacturers.

State one advantage of the Producer to Customer distribution channel regarding control over the brand image.

The business has complete control over how their product is described, presented, priced – i.e. control over the brand image.

The business has no influence over how their product is marketed.

The business must rely entirely on intermediaries for brand representation.

The business loses track of customer preferences due to multiple distribution layers.

How can direct contact with the customer be useful for a business in the Producer to Customer distribution channel?

It can be a useful way to gain market research for further improvements (e.g. customer feedback).

It eliminates the need for any marketing activities.

It guarantees immediate payment from all customers.

It allows the business to avoid all distribution costs.

What is a financial advantage for the business when selling directly to the customer?

The business can sell at the full, retail price, so makes a higher profit margin per sale.

The business avoids all marketing costs.

The business can eliminate all competition.

The business does not need to provide customer service.

In the Producer to Customer distribution channel, who usually pays for the product immediately?

The customer will usually pay for the product immediately.

The producer will usually pay for the product immediately.

A wholesaler will usually pay for the product immediately.

A retailer will usually pay for the product immediately.

What is a disadvantage of the Producer to Customer distribution channel regarding the number of units sold at a time?

The business might only sell one unit at a time to customers (compared to multiple units if sold to a retailer).

It allows for bulk sales to customers directly.

It increases the number of intermediaries involved in the process.

It guarantees higher sales volume per transaction.

Why might the admin cost of sales be high in the Producer to Customer distribution channel?

Because the business might only sell one unit at a time to customers, so the admin cost of sales is high (e.g. multiple phone calls & deliveries).

Because the business benefits from bulk discounts when selling directly to customers.

Because the distribution channel eliminates all administrative tasks.

Because customers handle all administrative work themselves.

What is a possible customer preference disadvantage in the Producer to Customer distribution channel?

Customers may prefer the convenience of a local retailer.

Customers may prefer to buy directly from the producer.

Customers may prefer online shopping only.

Customers may prefer to avoid all intermediaries.

Which distribution channel involves the producer selling their product to a retailer, who then sells to the end user (customer)?

Producer → Retailer → Customer

Producer → Wholesaler → Retailer → Customer

Producer → Agent → Customer

Which of the following is a disadvantage for the producer in the Producer → Retailer → Customer channel?

Retailers may insist on a very low price or long credit terms

Ability to send one large delivery

Products sell better in convenient locations

Retailers have a good brand image

In the Producer → Wholesaler → Retailer → Customer channel, what is the main role of the wholesaler?

Break down large batches into smaller units for retailers

A digital distribution channel refers to a method of delivering products or services to customers via digital means. Which of the following is an example of a digital distribution channel?

Buying groceries at a supermarket

Complete the following table about advertising methods: Method: Social media. Definition, example, pros & cons:

Social media involves businesses using platforms such as Facebook, Twitter and Instagram to communicate with their customers. Examples: Most businesses use social media these days e.g. Nike, Tesco and McDonald’s. Can be cheap to use (compared to TV). Can target large, specific audiences. Quick to communicate (TV can take months to make an advert). There are many forms of social media – it may be difficult to choose the best one.

Social media advertising is only about posting paid advertisements on TV and radio. Examples: Only large companies like Coca-Cola use social media. It is always expensive and cannot target specific audiences. It is slow to communicate and there are limited platforms to choose from.

Social media is a method where businesses use only printed flyers to reach customers. Examples: Small local shops use social media rarely. It is very costly and cannot reach a wide audience. Communication is always delayed and there are no choices of platforms.

Social media advertising means sending emails to customers only. Examples: Only online businesses use social media. It is not effective for targeting audiences and is always more expensive than TV. Communication is slow and there are no different forms of social media.

What is one advantage of using websites for business advertising?

Can use moving images (video) as well as detailed written information.

Websites are only accessible during business hours.

Websites do not allow for any customer interaction.

Websites can only display text and no images.

What is a potential risk of using websites for business advertising?

Potential of cyber hacking – e.g. customer details being stolen, creating a bad brand image.

Increased foot traffic to physical stores.

Guaranteed increase in sales revenue.

Reduced need for customer service staff.

Websites: Which of the following is NOT an advantage of using websites for advertising?

Not used by all groups of people

Can update seasonal promotions quickly

Can include detailed information

Can link the customer to purchase immediately

Marketing multiple choice quiz

Authored by Rob Mortimer

Business

9th Grade

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of your GCSE is the Business 1 exam worth?

25%

50%

75%

100%

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a topic covered in the Business 1 exam?

Business planning

Market research

Employment law

Financial accounting

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Name one resource you should use to prepare for the Business 1 exam, according to the revision booklet.

Practise using past exam papers and mark schemes.

Watch unrelated movies for relaxation.

Ignore the revision booklet completely.

Only read social media posts about business.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary objective of the marketing department?

To increase sales

To reduce costs

To hire more employees

To develop new products

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a way the marketing department achieves its objectives?

Carrying out market research

Making decisions on the Marketing Mix (the 4 Ps)

Informing customers about products and services

Ignoring customer needs

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fill in the blank: The marketing department informs customers about their products and services and ______ them to buy them (e.g. using special offers).

persuading

ignoring

preventing

confusing

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of primary research (field)?

Brand new information that is collected by the business.

Information that is gathered from published sources.

Data that is analyzed from competitors' reports.

Research conducted using only online surveys.

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Marketing multiple choice quiz

What percentage of your GCSE is the Business 1 exam worth?

Which of the following is NOT a topic covered in the Business 1 exam?

Name one resource you should use to prepare for the Business 1 exam, according to the revision booklet.

What is the primary objective of the marketing department?

Which of the following is NOT a way the marketing department achieves its objectives?

Fill in the blank: The marketing department informs customers about their products and services and ______ them to buy them (e.g. using special offers).

What is the definition of primary research (field)?

What is the definition of secondary research (desk)?

Which of the following is an example of primary research?

Which of the following is an example of secondary research?

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