Worksheets4.1 The Role of Marketing
Total questions: 18
Worksheet time: 9mins
What is a market?
A place where buyers and sellers come together and interact
A large company owning subsidiaries and producing in a number of countries
A location
A type of product
What are the variables for the BCG matrix?
Market growth
Market segmentation
Market share
Market managment
What does the L in STEEPLE stand for?
Legal
Lemon
Lock
Legislature
What does the T in SWOT stand for?
Threats
Trust
Tiger
Texture
Which of these are included in the Marketing Mix?
Price
Product
Promotion
Pole
Which of these are included in the services marketing mix?
Mission statement
Process
Objective
Physical evidence
What is an advantage of product orientation?
Little threat from competition
No guarantee that the product will be sold to the market
Not cheap to conduct research and development
Branding is narrow
How are companies who prioritise research and development over market research described as?
Primarily extensive
Primarily determined
Primarily outward facing
Primarily inward facing
What is a disadvantage of market orientation?
Important to get the market research right
The quality of marketing activities is improved bc market needs are understood
Products are likely to conform to customer’s needs and get sold
Repeat custom is likely, which improves long-term profitability
Which of these describe social marketing?
Aim to change people’s behaviour
Aim to meet customer’s needs
Marketing activities that focus on the major objectives a company holds
Marketing activities that are carried out for the good of society
Which of these are examples of areas that social marketing focuses on?
Protecting the environment
Raising awareness of an individual issue
Eliminating competition
Collecting and analysing data
What are the control tools in commercial marketing?
Market research
Marketing strategy
Sales figures
Customer surveys
What does commercial marketing focus on?
Increased market share
Brand recognition
Creating customer loyalty
Economies of scale
What does market share measure?
The value of a single company’s efficiencies compared with the efficiencies of all businesses in a market
The value of a single company’s costs compared with the costs of all businesses in a market
The value of a single company’s sales compared with the sales of all businesses in a market
The value of a single company’s leaders compared with the leaders of all businesses in a market
What are the advantages of being a market's leader?
Ease of access to channels of distribution
Brand recognition
Economies of scale
Price leadership
Objectives are ...
SMART
COWER
BLAST
SHELL
Which of these are marketing strategies?
Changing customer preferences
Innovation
Ethical considerations
Cultural differences
Which of these go under 'ethical considerations'?
Meeting customers' needs
Ethical treatment of supplies
Sourcing from ethical suppliers
Control over the 'right price' for the product
