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WorksheetsThe Role of Marketing
Total questions: 20
Worksheet time: 13mins
The collective term for the buyers and sellers of a particular product
(a)
Which term describes firms with a dominant market share in an industry?
Product orientated
Commercial marketers
Market orientated
Market leaders
Intangible (non-physical) products, such as taxi rides, haircuts, visits to the cinema or theatre, and restaurants
(a)
A measure of the size of a business in comparison to others in the same industry, by calculating its proportion of the total value of sales revenue in the industry.
(a)
Which of the following is not a benefit from having a market-orientated approach for a business?
Leads to more technical innovation at the business
Makes the business less risky and more profitable
Constant feedback from customers through ongoing market research helps the firm to adjust and adapt to changing consumer needs
The chances of newly developed products failing are greatly reduced
Which type of marketing is often used by not-for-profit organizations and businesses with a strong emphasis on corporate social responsibility?
Social marketing
Commercial marketing
Market orientation
Market research
Which of the following would not be of direct interest to marketing managers?
Intensity of rivalry in the market
Barriers to entry
Production schedules
Market size
The group or groups of customers that businesses aim their products at, e.g. females, children, high-income earners or a particular ethnic group of customers
(a)
Distribution channels that enable customers to conveniently buy the product, such as wholesalers, retailers, agents or vending machines.
(a)
Which of the following does not directly apply to the marketing mix of physical goods?
Price
Process
Place
Product
Which of the following is the main objective of the marketing department?
Set the correct price for the customers
Ensure adequate and effective promotion
Ensure that the right products are supplied to fulfil the needs and wants of customers
All are correct
Which of the following features are unique to marketing of services as opposed to goods?
Difficult to mass produce
Intangibility
Cannot separate the production and consumption
All are correct
A marketing approach that is inward looking and focuses a business on making products that it can make or has been making for a long time is...
Product orientation
Market orientation
Commercial marketing
Social marketing
Which of the following is not a feature of a market-orientated businesses?
A focus on products they can sell rather than what they can make
Outward looking
Believe there will always be a market for their products
Highly focused on consumer demand as established by market research
The factors which may influence whether a business adopts a product orientated or a market orientated approach could be...
Number of competitors
An organizational culture of focusing on customer’s needs
All answers are correct
Nature of the product
Technology intensive businesses producing expensive, high quality products adopt the following approach to marketing
None of the answers
Market orientation
Social marketing
Product orientation
The use of marketing strategies to meet the needs and wants of customers in a profitable way describes
Social marketing
Industrial markets
Market leaders
Commercial marketing
Company A’s sales of $100 million in an industry with annual sales of $500 million give it a market share of...
20%
10%
25%
50%
The volume of all units sold or the value of all goods sold by all firms in an industry are the two best measures of...
None of the answers
Market share
Market size
Market
A marketing approach that focuses on supplying to wide-ranging groups of customers in a market, without having split them into separate market segments, such as the markets for bottled water or breakfast cereal.
Market segment
Target market
Product
Mass markets
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