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WorksheetsCHAPTER 10 - Marketing, Competition and the Customer
Total questions: 15
Worksheet time: 8mins
Which the followings are roles of marketing?
(The answer can be more than 1)
Identifying and satisfying customer needs
Building customer relationships
Change the market segmentation
Maintaining customer loyalty
The group of customers a business sells its products or services to is called...
Loyal customer
Customer base
Consumer goods
Customer goods
Pick options below that are (is) TRUE about added value?
It is the increase in value that a business creates by undertaking the production process.
The profit made by the company per unit produced.
Value of the business due to mark up pricing method made by the business in order to gain higher profit
The difference between the price of the finished product/service and cost of the inputs involved in making it
What is the name of the curve shown above?
Demand Curve
Supply Curve
Break-Even Curve
Demand & Supply Curve
When a company decides to produce products for a particular group of consumers, for example: Gillette's main consumers are men, then what do you call these consumers?
Consumer market
Industrial market
Target market
Customer
Which of the followings are factors that affect the amount of money customer/consumers spend on buying goods and services?
(the answer can be more than 1)
Changes in tastes and fashion
Spending on advertising and other promotional activities
Changes in customer income
The price of the product or service
Which of the followings is NOT the reason of why some markets become more competitive?
There are not enough competitors in the market
Government intervention in markets
Growth of free trade between countries
Shift to e-commerce platform and social networks
............ is a focused, target-able portion of a broader market in which specialized products or services can be sold.
Mix market
Niche Market
Monopolistic competition
Mass market
Shoes for vegan women, shoes for plus-sized women, and shoes for nurses. These are examples of ... products.
niche market
mass market
monopolistic
mix market
Weetabix
Bright Food, one of China's largest food groups, has bought a 60% controlling share in the ownership of UK breakfast cereal brand, Weetabix. This acquisition is done in order to develop Weetabix business with Bright Food's strong resources and their expertise.
Why might the market for Weetabix described as a mass market?
Because they are supplying their goods to a very large market with millions of potential consumers.
Because most of the UK people eat cereal as their breakfast menu.
Because Food Bright in a giant multinational company that has many loyal customers.
None of the above is the correct answer.
Which of the followings is NOT the limitation of niche marketing?
less competition
possibility to have higher profit might attract other competitors
economies of scales are unlikely to be achieved
huge impact from small changes in consumer spending patterns
Which of the followings is the benefit of mass marketing?
Less effect from small changes in consumer spending patterns
small firms are able to survive and earn profit
consumer will usually pay more for a high status
Firms do not waste scarce resources responding to competitors actions.
A part of the whole market in which consumers have specific characteristic is called ...
Market segment
Market segmentation
Consumer Base
Consumer loyalty
Which of the followings are factors in the demographic segmentation?
(there are more than 1 answer)
Age
Family size
Income
Ethnic background
Which of the followings is the benefit of segmentation to business?
(there can be more than 1 answer)
to help the business in deciding what they want to produce in order to gain higher profit
none of the able
marketing strategies can be better targeted at each segment
the design of goods and services can meet the specific needs of consumers in each segment
