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WorksheetsEnd of year 9 Assessment- Business
Total questions: 55
Worksheet time: 29mins
The principal role of marketing is to: *
Understand the wants and needs of consumers, and satisfying these to increase sales
Increase profit
Increase the number of products made
Increase the skills of the workers
A business can understand the needs of its customers by: *
Making the best possible product
Conducting market research
Setting a lower price than competitors
Having special offers such as buy one get one free
Which of the following is an example of primary research? *
Collecting data from the last census for a particular age group
Collecting data published in the local newspapers
Collecting data by asking consumers questions in the local shopping centre
Collecting data from the internet
Which of the following is an example of primary research? *
Collecting data from the last census for a particular age group
Collecting data published in the local newspapers
Collecting data by asking consumers questions in the local shopping centre
Collecting data from the internet
If a business wants to dispose of old stock to make way for new products it would normally consider: *
Competitor pricing
Promotional pricing
Cost-plus pricing
Skimming
Skimming is: *
Charging a lower price when a product becomes old
Keeping the price of a product the same as competitors
Making sure your price is always more than competitors
Setting a higher price when a product has an advantage over its competitors
Why would a business use TV advertising?
It is cheap
It reaches a large audience
It's highly targeted
It's two-way communication
What is happening at point F of the Product Life Cycle?
Growth
Maturity
Extension Strategy
Introduction
Which is not a stage of the product life cycle?
Product development
Introduction
Decline
Maturity
Target Market
During this stage, the product is launched. Usually a loss is made during this phase as Sales are low (but increasing)
Development
Introduction
Growth
Maturity
Decline
During this stage, products sales increase profits start to be made. A business may need to increase outlets to reach new markets.
Development
Introduction
Growth
Maturity
Decline
Which of the following is an example of primary research?
Internet research
A focus group
Company reports
Census
Why does a business create a unique selling point for a product?
To design the look of packaging
To set the product's price
To target to a wider audience
To gain a competitive advantage
One limitation of the Bostrix Mix is ... ?
A Cash Cow will not be profitable
It is easy to measure market share
Firms cannot invest in Dogs
High market share might not mean high profits
Which category in the Boston Matrix is for the least successful product?
Cash Cows
Stars
Decliners
Dogs
Products in which two categories of the Boston Matrix are most likely to generate positive cash flows?
Stars and Cash Cows
Cash Cows and Dogs
Dogs and Stars
Problem Children and Stars
A benefit of using the Boston Matrix to make decisions is that it may help a business ... ?
Get rid of employees who are not needed
Launch products before they are ready
Save money on budgeting
Focus on products with the most potential
What is an example of a Motivator
The manager screaming Apache war cries whilst dancing upon the back of a mule
Recognition
Supervision
Poor Working Conditions
What are the two factors of Herzberg's Motivational Theory
Poor Hygiene and Motivating Factors
Management and Peer Review
Family Life and Work
Food and Sleep
What belief was Herzburg's Theory based off of?
Fortnite is the core problem of our issues today
Live, Laugh, Love!
Mental Health is the core issue of our times
Good working conditions are enough for an employee
How would you apply Herzberg's Theory in a dissatisfactory work environment.
Ignore dissatisfaction, then help employees find satisfaction
Eliminate dissatisfaction, then continue on
Help employees find satisfaction, then eliminate dissatisfaction
Eliminate dissatisfaction, then help employees find satisfaction
What stage of needs on the hierarchy are the most basic? Necessary for survival!
Love and Belonging
Safety and Security
Physical
Self-Actualization
What is an example of a safety and security need?
a home
family
food
sleep
What is an example of love and belonging?
Accomplishing your biggest dreams
Showing and receiving affection
Feeling proud of yourself
Drinking water
An advantage to a business of asking customers to complete on line surveys regarding customer services is that:
An unbalanced view of quality standards may be gained
Low response rate
Cost effective to set up
Incentive to complete the surveys may need to be offered
Which of the following can lead to a poor quality product?
Poorly motivated staff
Outsourcing
Lack of consistency
All of the above
checking the acceptability of the manufactured product is
Inspection
quality Control
Quality Assurance
none of the above
P_______ s __________ is one popular method of financing/funding a business
(a)
Business expenses that remain the same no matter how many goods or services are provided.
Total costs
Variable costs
Opportunity costs
Fixed costs
Business expenses that increase or decrease as output increases or decreases.
Total costs
Variable costs
Opportunity costs
Fixed costs
Money required to finance a new business
Startup capital
Sunk capital
Social capital
Stock capital
An individual who undertakes the risk of starting a new business
(a)
R (a) is an example of a fixed cost for a business
W (a) is an example of a variable cost for a business
Money borrowed from a bank/lending institution to finance a business must be paid back with i (a) .
