WorksheetsWhat Is Marketing?
Total questions: 6
Worksheet time: 6mins
Which one of these is the best definition of marketing?
Selling products that have been produced by advertising and promotion
Convincing customers that they really want to buy a firm's product rather than those of a competitor
Finding out consumers wants, providing this information to the operations department and then persuading costumers to buy product
Selling products at the lowest price possible with the aim of increasing sales and markets share
One of the main reasons why a business sets marketing objectives is to:
provide a clear focus for the marketing department's strategies
encourage consumers to purchase the product
make sure that the firm achieves all of its corporate objectives
ensure that the firms' cash flow is always positive
Which one of the following is an example of market oriented business decision?
Selling only products that are environmentally friendly as all consumers are interested
Increasing advertising spending on a product that is becoming less attractive to many consumers
Reducing the price of a product that is experiencing increased competition from rival's new products
basing new product decisions on market research data
Which one of the following is most likely to lead to an increase in the equilibrium price of crude oil?
A huge new oil field is discovered
Improved production efficiency reduces the cost of making cars
Increasing publicity on the dangers of global warming
Improved production efficiency allow much smaller oil fields to be developed
A small manufacturing business, company A, produces high quality leather steering wheels for makers of luxury sports cars. Which one of the following is the most likely effect on Company A of operating in a niche market?
Sales will be higher than if Company A made steering wheels for family cars
Advertising costs will be high as Company A has to advertise the steering wheels to consumers who buy cars
Economies of scale will be limited as the production level is likely to be blow
Selling prices to makers of luxury sports cars will be low as many large manufacturers of steering wheels will be competing in this market
Company B produces white T-shirts and sell them in street markets. If the company decided to use market segmentation and developed different styles and colors of T-shirts it would be likely to:
sell fewer white T-shirts but sell more T-shirts of other designs at higher prices
increase prices of white T-shirts as demand would increase
reduce total production costs
reduce its total sales but increase market share
