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WorksheetsS3 BBQ (Big Business Quiz) March 22
Total questions: 27
Worksheet time: 8mins
Who is currently the world's richest person?
The 4 Ps are known as what?
The Promotion Strategy
The Advertising Plan
The Selling Strategy
The Marketing Mix
Deciding to close your High-street shop to sell online instead is a change to which of the "P's"
Promotion
Product
Place
Price
Which department / function in a business is responsible for finding out what customers want and providing products to fulfill that demand and make a profit?
Human Resources
Marketing
Operations
Finance
At what point on the product life cycle do sales reach their highest level?
Introduction
Growth
Maturity
Decline
Which sector of the ECONOMY does Inverkeithing High School operate within?
Public
Third
Private
Secondary
Providing excellent customer service is important for a business because... (SELECT ALL THAT APPLY)
It will encourage customer loyalty
It will reduce your costs
Customers who enjoy their experience will spend more money
You don't need to train your employees
Which of the following is NOT a good way to ensure customer satisfaction
Produce/provide a good quality product or service
Provide an after-sales service to deal with problems
Train employees in customer service skills
Ignore customer complaints
True or False: Customers are much more likely to tell their friends and family about a BAD customer experience than a GOOD one.
True
False
For a company such as Cadbury's, which statement applies to "PRODUCT" element of the marketing mix?
Changing recipe of a Wispa to improve the taste
Launching a new poster campaign on busses for Dairy Milk
Starting up an online / mail-order chocolate shop
Increasing the retail price of a Twirl by £0.05
What is a stakeholder?
Someone who eats meat without a knife or fork
A person or group that has an interest in a business / organisation.
A person that owns shares in a company
A competitor
The Government is interested in a business because:
They will want to buy the products
They want the business to comply with the law and pay taxes
They want good quality products
They want to be paid the money they are owed
Customers are interested in a business because:
They want to be paid they money they are due
They want the employees to be paid a good salary
They want the business to make the products they want at good prices
They want to be paid a bonus
"I hope to make a good return on the money I have invested in this business". Which stakeholder is this?
Local Community
Local Government
Owner / Shareholder
Employees
Pick the odd one out - which is NOT in the Private Sector
Sole Trader
Private Limited Company
National Government
Partnership
Which of the following 2 statements about the public sector are true?
Public Sector organisations aim to make as much profit as possible
Public Sector organisations are owned by the Government on behalf of the taxpayer
Public Sector organisations are funded by taxes that individuals and businesses have to pay
Public Sector organisations aim to achieve as much sales as possible
A DISADVANTAGE of being a sole trader is that
You have to pay more taxes
You do not need to submit annual accounts
You are personally liable for the debts of the business
You can NOT operate as a Franchise
An arrangement were one business operates under the name of another is called a ______________
Public Limited Company
Franchise
Third sector business
Partnership
Which of these is NOT a good way of conducting market reserach to help improve customer satisfaction?
Comments cards / Suggestion box
Customer survey
Online customer questionnaire
Ask customers to make complaints on TripAdvisor
True or False: The public can buy shares in a PRIVATE LIMITED COMPANY (ltd) on the stock market?
True
False
True or false? Businesses have some control over external factors?
True
False
Which external factor is missing: Economic, Political, Technological, Environmental, Competitive,
(a)
Which external factor is this?
Social
Environmental
Economic
Political
Sole traders and partnerships have (a) liability whereas Public Limited Companies and Private Limited Companies have (b) liability
Answer: "Capital, Enterprise, Land & Labour"
What was the question?
Identify the sectors of the economy
describe the factors of production
identify the factors of production
explain the factors of production
Which financial document would you use to forecast cash-flow?
Break-even chart
Budget
Income statement
Classify these items correctly for a manufacturing business...
Sales revenue
Gas bill
Employee wages
Purchases
