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Chapter 10 Marketing,competition,and the customer

Total questions: 45

Worksheet time: 23mins

Name
Class
Date
1.
Which of these is not a function of the Marketing Department?
a)
To find out customer requirements 
b)
To try to forecast future demand
c)
To satisfy consumer demand profitably
d)
To make the products that consumers want to buy
2.
Which one of the following is the best definition of marketing?
a)
The process of selling to customers at a cheap price
b)
The promotion of products to all buyers in a country
c)
The use of marketing to know what will meet customers wants1 characters remaining
3.
One benefit for a business if it increases customer loyalty is
a)
the business will never have to advertise again
b)
it will help maintain market share
c)
consumers will buy the products of the firm at any price 
4.
Which of the following is the most likely response of a business to an increase in competition?
a)
Reduce quality but keep prices stable
b)
Increase output of existing products
c)
Develop different products
5.
One of the benefits of niche marketing is
a)
it leads to high levels of output and low production costs
b)
marketing can be focused on a distinct part of the market
c)
consumer demand will always remain high
6.
The definition of a market segment is
a)
the part of the market controlled by one supplier 
b)
the part of the market controlled by a multinational
c)
the section of a market made from similar consumer needs
7.
Which of the following ways would not be used to segment the market for soft drinks?
a)
The ages of consumers
b)
The lifestyle of consumers,e.g. sport players
c)
The income groups of consumers
d)
Consumers and non-consumers
8.
Which of the following is a likely advantage of segmenting the market for magazines?
a)
Fewer magazine titles will be published
b)
Advertising will be aimed towards the right consumers
c)
Prices will be lower
d)
All consumers will buy more magazines
9.

Which the followings are roles of marketing?

(The answer can be more than 1)

a)

Identifying and satisfying customer needs

b)

Building customer relationships

c)

Change the market segmentation

d)

Maintaining customer loyalty

10.

The group of customers a business sells its products or services to is called...

a)

Loyal customer

b)

Customer base

c)

Consumer goods

d)

Customer goods

11.

Pick options below that are (is) TRUE about added value?

a)

It is the increase in value that a business creates by undertaking the production process.

b)

The profit made by the company per unit produced.

c)

Value of the business due to mark up pricing method made by the business in order to gain higher profit

d)

The difference between the price of the finished product/service and cost of the inputs involved in making it

12.

What is the name of the curve shown above?

a)

Demand Curve

b)

Supply Curve

c)

Break-Even Curve

d)

Demand & Supply Curve

13.

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?

a)

Consumer market

b)

Industrial market

c)

Target market

d)

Customer

14.

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)

a)

Changes in tastes and fashion

b)

Spending on advertising and other promotional activities

c)

Changes in customer income

d)

The price of the product or service

15.

Which of the followings is NOT the reason of why some markets become more competitive?

a)

There are not enough competitors in the market

b)

Government intervention in markets

c)

Growth of free trade between countries

d)

Shift to e-commerce platform and social networks

16.

............ is a focused, target-able portion of a broader market in which specialized products or services can be sold.

a)

Mix market

b)

Niche Market

c)

Monopolistic competition

d)

Mass market

17.

Shoes for vegan women, shoes for plus-sized women, and shoes for nurses. These are examples of ... products.

a)

niche market

b)

mass market

c)

monopolistic

d)

mix market

18.

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?

a)

Because they are supplying their goods to a very large market with millions of potential consumers.

b)

Because most of the UK people eat cereal as their breakfast menu.

c)

Because Food Bright in a giant multinational company that has many loyal customers.

d)

None of the above is the correct answer.

19.

Which of the followings is NOT the limitation of niche marketing?

a)

less competition

b)

possibility to have higher profit might attract other competitors

c)

economies of scales are unlikely to be achieved

d)

huge impact from small changes in consumer spending patterns

20.

Which of the followings is the benefit of mass marketing?

a)

Less effect from small changes in consumer spending patterns

b)

small firms are able to survive and earn profit

c)

consumer will usually pay more for a high status

d)

Firms do not waste scarce resources responding to competitors actions.

21.

A part of the whole market in which consumers have specific characteristic is called ...

a)

Market segment

b)

Market segmentation

c)

Consumer Base

d)

Consumer loyalty

22.

Which of the followings are factors in the demographic segmentation?

(there are more than 1 answer)

a)

Age

b)

Family size

c)

Income

d)

Ethnic background

23.

Which of the followings is the benefit of segmentation to business?

(there can be more than 1 answer)

a)

to help the business in deciding what they want to produce in order to gain higher profit

b)

none of the able

c)

marketing strategies can be better targeted at each segment

d)

the design of goods and services can meet the specific needs of consumers in each segment

24.

A _________ is a small, usually specialised, segment of a much larger market.

a)

Niche market

b)

Mass market

c)

Market share

d)

Market segment

25.

A person who buys goods or services for personal use.

a)

Consumer

b)

Customer

c)

Business

d)

Market

26.

_____________ is identifying customer wants and satisfying them profitably.

a)

Market share

b)

Niche market

c)

Marketing

d)

Mass market

27.

A ___________ is a person, business or other organisation which buys goods or services from a business.

a)

consumer

b)

customer

c)

business

d)

market

28.

____________ is when existing customers continually buy products from the same business.

a)

Customer loyalty

b)

Customer relationships

c)

Consumer

d)

Market share

29.

_____________ is communicating with customers to encourage them to become loyal to the business and its products.

a)

Customer loyalty

b)

Customer relationships

c)

Consumer

d)

Market share

30.

_____________ is the percentage of total market sales held by one brand or business.

a)

Niche market

b)

Market share

c)

Mass market

d)

Marketing

31.

_________ is when the financial return is worth the expenditure.

a)

Cost effective

b)

Customer loyalty

c)

Customer relationships

d)

Customer

32.

___________ is when existing customers continually buy products from the same business.

a)

Customer loyalty

b)

Customer relationship

c)

Consumer

d)

Customer

33.

______________ is communicating with customers to encourage them to become loyal to the business and its products.

a)

Customer relationships

b)

Customer loyalty

c)

Mass marketing

d)

Niche marketing

34.

A _________ buys goods or services for personal use – not to re-sell.

a)

consumer

b)

customer

c)

market

d)

competitor

35.

A ___________ is a person, business or other organisation which buys goods or services from a business.

a)

customer

b)

consumer

c)

market

d)

business

36.

A _________ for a particular good or service is made up of the total number of customers and potential customers, as well as sellers, for that particular good or service.

a)

market share

b)

niche market

c)

mass market

d)

market

37.

A ____________ is a small, usually specialized, segment of a much larger market.

a)

mass marketing

b)

niche market

c)

market

d)

market segment

38.

_____________ is where there is a very large number of sales of a product.

a)

Niche market

b)

Mass marketing

c)

Market segment

d)

Market

39.

____________ is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.

a)

Market segment

b)

Niche market

c)

Mass market

d)

Market

40.

________________ is dividing consumers in the market by geographic area.

a)

Geographic segmentation

b)

Demographic segmentation

c)

Psychographic segmentation

d)

Benefit Segmentation

41.

_______________ is dividing consumers in the market by factors such as age, gender, income, ethnic background and social class.

a)

Geographic segmentation

b)

Demographic segmentation

c)

Psychographic segmentation

d)

Benefit Segmentation

42.

_______________ is dividing consumers in the market by lifestyle, personalities and attitudes.

a)

Psychographic segmentation

b)

Benefit Segmentation

c)

Demographic segmentation

d)

Benefit Segmentation

43.

_____________ is dividing your market based upon the perceived value, benefit, or advantage consumers perceive that they receive from a product or service.

a)

Geographic segmentation

b)

Demographic segmentation

c)

Psychographic segmentation

d)

Benefit Segmentation

44.

The preferences of consumers which can change over time.

a)

Consumer tastes

b)

Customer needs

c)

Market changes

d)

Market share

45.

Customer’s desires to buy products.

a)

Customer needs

b)

Consumer tastes

c)

Customer loyalty

d)

Customer