BTEC First A3 Marketing

What is the main purpose of branding for a business in a chosen market?

• To create a distinctive offering

• To increase production costs

• To reduce employee numbers

• To avoid advertising

Which of the following is NOT typically considered a dimension of a distinctive brand?

• Logos

• Colours

• Employee salaries

• Celebrity endorsements

What are some benefits to a business of building brands?

• Extensions, value, and personality

• Lower taxes, fewer employees, and less advertising

• Higher rent, more paperwork, and longer hours

• Decreased product quality, less customer loyalty, and fewer sales

Which of the following is an example of a branding element?

• Logo

• Invoice

• Warehouse

• Spreadsheet

Why do many businesses start with niche market products?

• They can focus on establishing a strong position in the market.

• They want to avoid competition.

• They have unlimited resources.

• They want to attract large businesses.

Which type of businesses typically populate niche markets?

• Small to medium sized businesses

• Large multinational corporations

• Government agencies

• Non-profit organizations

What is a characteristic of products sold by niche market businesses?

• They are aimed at a small and specific segment of the market.

• They are mass-produced for everyone.

• They are always the cheapest option.

• They are only available online.

Which of the following is an example of a niche market product?

• Vegan or gluten free food products

• Regular bottled water

• Generic office supplies

• Standard smartphones

Why is the amount of customers in a niche market generally limited?

• Because the products are aimed at a specific segment of the market.

• Because the products are too expensive.

• Because the products are low quality.

• Because the market is not advertised.

What is a common trend for businesses once they are established?

• They start producing products for the mass market.

• They stop producing products.

• They only sell to niche markets.

• They focus only on one product.