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WorksheetsEnd of Term Quiz- Marketing +costs
Total questions: 80
Worksheet time: 40mins
A start up cost is.....
Costs that the business will pay regularly and on time
something that a business only has to pay when they first start the business
A way of a business paying for a big item such as a vehicle but only paying a deposit
A cost that a business will pay at the start of each month to keep it running
A running cost is..
A cost that are needed only at the beginning when setting up a business and needed to get them up and running
A cost that the business has to pay continuously to enable them to keep the business operating
A cost that involves anything to do with the making of the products
A cost that the business spends on promoting the business
Pick the odd one out
Tables and chairs for customers to sit on
Pizza box with a logo on it
Fresh tomatoes to make the pizza base
Napkins for customers
Pick the odd one out
Pepperoni
Staff Wages
Petrol for delivery driver
Sign above the shop
Pick the odd one out
Tables and Chairs
Sign to encourage people to visit the store
A pizza oven to cook the food
Tomato Sauce to make the base
Fixed costs are
Costs that buy things that are fixed and cant be move such as a building
Costs that can't be negotiated cheaper with suppliers
Costs that do not change with output
Costs that do change with output
Variable costs are...
Costs that change due to output
Costs that can be increased or decreased depending on time of year
Costs that the business have to pay to get a product to the customers
Costs that don't change with output
An example of a fixed cost is
Napkins
Loan repayments
Employees wages
Cheese for pizza
An example of a fixed cost is
Petrol
Pizza Boxes
Wages
Salaries
Pick the odd one out
Loan Repayments
Salary for manager
Petrol for delivery Van
Council Tax
A definition of output is
How much of a product or service is produced
The costs that your business has to pay
The amount of money made from one sale
The amount of customers who want your products
A business has fixed costs of £25,000. It then gets a new contract with a school and have to create 500 more sandwiches a day costing £1.00, after getting this new deal what is their fixed cost total?
£24,500
£25,000
£25,500
£20,500
A business has variable costs of £30,000 and fixed costs of £60,000 what are their total costs?
£36,000
£60,000
£30,000
£90,000
A business total costs are £45,000 and fixed costs are £25,000. They have recently had to pay an extra £5,000 on their variable costs. What will their new total costs be?
£15,000
£75,000
£50,000
£45,000
A business sells key rings for £3.00 each, they sell 30 a week for 4 weeks. How much is their total revenue?
£360
£270
£90
£350
The equation for profit is
Profit= Revenue + Total Costs
Profit= Revenue-Total Costs
Profit= Revenue/Total Costs
Profit = Fixed costs- Variable costs
A business makes £30,000 of revenue. Their fixed costs are £10,000 and variable are £15,000, how much have they made in profit?
£55,000
£30,000
£25,000
£5,000
The equation for total costs is
Fixed costs + variable costs
Revenue-fixed costs
Variable costs - Revenue
Variable costs-fixed costs
What is the definition of revenue?
The amount of money a business makes once it sells products and takes away the cost to make each one
The money raised from selling off different items like buildings or vehicles
The total money a business brings in
The costs when variable and fixed are added together
A business total costs are £85,000 and their revenue is £100,000. Their revenue has fallen by 10% because of corona virus but costs have stayed the same, what is their new profit figure?
£5,000
£115,000
£45,000
£10,000
A business sells hats for £15 each and sells 25 in one week. What is their total revenue for that week?
£355
£390
£375
£325
If I stopped making and selling products what would I still have to pay?
Fixed Costs
Variable Costs
Start up Costs
Total Costs
A business makes burgers and chips. The price of a burger is £3.00 and the price of chips are £1.50. They sell 20 burgers and 10 portion of chips in a day. What is their total revenue for that day
£70
£75
£50
£85
A business can increase revenue by
Get plastic cutlery
Getting more sales through adverts
Going for a cheaper supplier for cheese
Reducing number of staff when they aren't busy
If a business in the first month they spend £5,000 on a new kitchen, £1,000 on stock to sell, £500 on flyers they will regularly send out, £1,000 on a whole new seating area. How much where their start up costs
£7,500
£5,000
£6,000
£1,500
If a business sells t shirts and jumpers. A t-shirt costs £5 to make and sells for £10 and the jumper costs £10 to make and sells for £15. If the business sells 10 t shirts and 10 jumpers how much total revenue have they made?
£250
£100
£150
£200
Which ones of these costs will go up the more a business creates output
Rent
Salaries
Raw Materials
Loan repayments
If fixed costs are £10,000 and operating costs are £5,000. What are the total running costs of the business
£5,000
£10,000
£15,000
£20,000
If a business spends £20,000 on a new van and then has to pay £300 a month on Petrol. What is the cost of the petrol called?
Start Up Cost
Operating Cost
Fixed Cost
Total Cost
Which one of these is a fixed cost that is increasing
Rent has been lowered due to pandemic
Pizza boxes are more expensive as raw materials to make them have increased in prices
Rent of the business
Minimum wage has risen by 5%
Which of these is not part of the "Promotional Mix
Advertising
Sales Promotion
Cost Cutting
Direct Marketing
Direct mail is an example of
(a)
A small business in the local area who offers delivery groceries have reopened after lock down and need a way of communicating to customers that they are operating again. Which would be the best format to communicate to customers who are still stuck in their homes
Telephone calls
Free samples
Leaflets
Advert in a magazine
Which of the following advertising examples are in the category of public space ambient
Dominos Brand on Pizza Box
Radio advert promoting a BOGOF offer on Rice Krispies
Film Poster on Side of Double Decker Bus in London
Billboard beside Hillsborough Promoting Championship Football
Which of these is an advantage of using a Printed Advert such as a local newspaper
Cheap and easy to make
Can reach an international audience in a quick turn around
Targets all potential customers
They are a credible (trusted) form of promotion
The message of an advert is
what you want to tell them
how you will tell them
who you will tell
the price of products
Generally television adverts cost (a) than radio adverts
If a customer has received an email offering them a specific offer due to the products they have bought before, this would be an example of?
Public Relation
Sales Promotion
Printed Advert
Direct marketing
The medium of an advert is
How you will tell them
What you will tell them
Who you will tell
The price of the products
A company who sells luxury biscuits are having difficulties selling their products. They know their product is really high quality but quite expensive and customers don't seem to trust it. For a product like this how would you help to increase sales?
Loyalty Scheme
Free Samples
Phone calls to speak directly to customers
Radio Advert
Which type of business should use a local newspaper advert to communicate with customers?
Apple releasing new IPhone 11
Sky Sports promoting woman's football
Tesco advertising a new vegan range of products
Rotherham Fc offering senior citizens discount
What definition describes personal selling the best?
Sending leaflets out to customers who they think will like their products
They will use a sales pitch and can adapt throughout answering customer questions
Using social media to offer competitions to convince customers to share their brand and products
Offering free coupons to get customers to try the product
An advantage of telemarketing is
Customers can be contacted 24 hours a day
Customers will always be pleased to get contacted
Customers can have a conversation and ask questions
Employees will be really pushy and force people to buy their products
A disadvantage of using face to face personal selling is
Requires lots of technology for it to work
Customers can try the product
Can be time consuming
Takes a long time to get responses from customers
A definition of advertising is
Any paid for space used to communicate ideas or products
A way of finding out exactly what customers wants and needs are
How a business delivers products and services
A feedback service which customers can communicate with businesses after using their products
Which of these is an example of sales promotion
Loyalty Scheme
Emails
Telemarketing
Television Adverts
Which of these is an example of digital advertising
Billboard showing the new Iphone
Text from Apple informing them that a new iphone is coming out
A television advert on Iphones during the Xfactor break
A radio advert on Radio 1 discussing the new Iphone
An advantage of using leaflets are
Customers can throw them away without looking at them
Customers have to come and collect them
They can incur a cost for the business
They can be delivered to peoples homes
Email can be considered to be
Digital advertising
Direct marketing
Public Space Ambient
Sales promotion
What part of the promotion mix is face to face selling?
Sales Promotion
Personal Selling
Advertising
Public Relations
A disadvantage of using radio is that
It is becoming less popular over time
It only targets the younger audience
Costs are increasing for businesses
Requires people to have an internet connection to access it
To get customers to keep returning to your business to benefit with rewards you could use a
Skype call
Radio advert
Billboards
Loyalty scheme
An advantage of emails are
Customers may think it is a scam
Can send out multiple at one time
People don't need access to the internet
Don't need any personal information to contact them
What is the correct definition of public relations?
Using discounts such as coupons to convince customers to try your products
Is how the business puts their brand into the community and seeks for a strong reputation
This is a persuasive technique at getting customers to buy certain products at a discounted rate
A way of communicating to previous customers to gather feedback
A business will try to improve its brand image by
Lowering quality of products
Reducing prices so all potential customers can afford
Helping with community projects to get teenagers into a job
Using 24 hour telemarketers to communicate with customers
PR stands for
Promotion Relations
Public Responsibility
Public Relations
Primary Relations
The definition of public relations is
Putting a brand into the media to help improve their image
Offering Discounts to the public to help improve their sales
Finding ways of lowering costs by reducing wages
Getting new designs that improve the quality of the product
Putting your logo on a local girls football teams kit is an example of
Sponsorship
Press Release
Exhibition
Product Sale
A disadvantage of using Public Relations is
Old people don't like hearing about stories
Media may ignore your story
It can reduce a businesses customers
It has to be put in a newspaper
An advantage of improving Public Relations is
It means that your business can now operate internationally
As it is coming from someone not from the business it seems more sincere
It guarantees to increase sales
You have complete control how people interpret your message
In the Product Life Cycle which point has the most sales?
Decline
Growth
Maturity
Launch
In the Product Life Cycle which point has the least amount of sales?
Growth
Decline
Launch
Maturity
A business will need to do a press release at what point during the product life cycle?
Maturity
Decline
Launch
Growth
What type of segmentation is this definition of?
"Grouping people based on key characteristics such as: age; gender; income; social class; ethnicity; religion and family size."
Geographic
Demographic
Behavioural
Psychographic
What type of segmentation is this definition of?
"Grouping people based on where they live."
Psychographic
Demographic
Geographic
Behavioural
What type of segmentation is this definition of?
"Grouping people based on what they do on a daily basis. This usually involves loyalty to a product or how much they use a product."
Psychographic
Behavioural
Demographic
Geographic
What type of segmentation is this definition of?
"Grouping people based on their views and beliefs."
Geographic
Behavioural
Demographic
Psychographic
A business would use segmentation to..
To get your business in the newspapers
Target the right customers
Make products to suit specific customers
To reduce costs from suppliers
What is this this definition?
"Is when a market is grouped into different sections based on people’s similar characteristics"
Decline
Public Relations
Segmentation
Growth
Which of these is an example of good PR?
Tesco offering double club card points on petrol
A newspaper voucher that gets you 30% off at Dominos
A news story on a chip shop in Rotherham giving homeless people fish and chips for free.
Ford doing a competition that you could win a gift card
When Apple release a new Product they inform the media and tech gurus by doing what?
Face to Face meeting
Press Release
Sponsorship
Television Advert
An example of ambient PR would be?
Coupons in a newspaper
Billboard of Tesco sponsoring race for life
A radio advert promoting new products
Flyers that let customers know about new delivery service of Kates Kitchen
Which of these statements are true about Promotional Stunts.
They always costs a lot of money
It has little to no risk
They can be misinterpreted by the viewers
You need to get newspapers, radio, television and social media involved for it to work.
Tesco have decided to introduce a local to you section where they only use meat and diary products from that local area. Which form of segmentation are they using?
Behavioural
Geographic
Psychographic
Demographic
What is a brand?
A logo
What customers pay for the products
How the media sees a business
A unique way of identifying a business through different mediums
B2C Business Stands for?
Business to Cash
Business to Creator Business
Business 2 Costs
Business to Consumer Business
The Iphone 8 is currently at which stage of the product life cycle?
Launch
Growth
Maturity
Decline
Generally when a product goes into Decline what must a business do?
Reduce price
Make more of it
Spend loads of money on advertising
Stop selling immediately
At which point of the product life cycle might a business do a press release?
Decline
Launch
Maturity
Growth
A business spends £10,000 on rent a year, £15,000 on raw materials and £5,000 on a loan repayment. What is their total fixed costs?
£25,000
£20,000
£15,000
£30,000
