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WorksheetsTest Review
Total questions: 38
Worksheet time: 35mins
Which of these methods reward customers for continued / repeated purchases and patronage?
Public relations
Customer loyalty schemes
After-sales service
Which of the following is not an example of below-the-line promotion?
Direct mailing
Non-digital billboards
Sales promotion
A promotional strategy that involves a business providing financial support to another organization or event in return for marketing exposure. (a)
The use of postal correspondence for promotional purposes. Direct (a)
Refers to a retailer’s range of goods that are available for sale. (a)
Promotional event where specialist firms exhibit their products for sale to potential customers. (a)
Form of promotion that refers to any form of paid-for promotional technique through independent consumer media. (a) promotion
Communicating relevant product information to inform and persuade customers to buy the good or service. (a)
Which promotional method occurs when an advertising message is self-replicated by internet users online?
Viral marketing
Direct marketing
Guerrilla marketing
Reward systems used to encourage customers to make repurchases, such as price discounts or free gifts for members. Customer (a) schemes
The use of sales personnel to sell goods and services with customers on a face-to-face basis. (a) selling
A form of visual and/or audio marketing communication used to inform and persuade people to buy a certain good or service. (a)
Which of the following is not an example of below-the-line promotion?
Digital (online) radio
Packaging
Merchandising
A Type of promotion done by the offer BOGOF
Advertising
Sales promotion
This type of promotion is called
discounts
BOGOF
free gifts
competitions
Discounts
competitions
Leaflet
BOGOF
What is an example of economies of scale
Realising
Evaluating
Purchasing
If a business becomes larger, are economies of scale a good thing?
Yes
No
What's a negative impact of economies of scale
Care more about customers
Not care about customers
Care about profits
Fill in the blank. Economies of scale is when as output _________, unit costs ________ in the long run.
increases; decrease
increases; increase
decreases; increase
decreases; decrease
Fill in the blank. __________ economies of scale occur due to an increase in the scale of production within a single firm
Internal
External
Complex
Simple
Large firms can buy raw materials in bulk at more favourable rates. This is an example of
Purchasing economies of scale
Technical economies of scale
Managerial economies of scale
Marketing economies of scale
Risk bearing economies of scale
Large firms can take advantage of investing in better machinery and can benefit from the division of labour. This is an example of
Purchasing economies of scale
Technical economies of scale
Managerial economies of scale
Marketing economies of scale
Risk bearing economies of scale
Larger firms can hire specialists (e.g. managers, accountants) and are therefore able to increase productivity. This is an example of
Purchasing economies of scale
Technical economies of scale
Managerial economies of scale
Marketing economies of scale
Risk bearing economies of scale
Large firms can afford to advertise and sell in larger quantities to develop brand loyalty. This is an example of
Purchasing economies of scale
Technical economies of scale
Managerial economies of scale
Marketing economies of scale
Risk bearing economies of scale
Large firms can negotiate better interest rates on loans; this reduces the costs of borrowing for larger companies. This is an example of
Financial economies of scale
Technical economies of scale
Managerial economies of scale
Marketing economies of scale
Risk bearing economies of scale
Larger firms are better able to diversify into a range of product areas or markets and thus lessen their risk. This is an example of
Financial economies of scale
Technical economies of scale
Managerial economies of scale
Marketing economies of scale
Risk bearing economies of scale
In the economies of scale, which type of cost do we use to determine the efficiency of a business?
fixed cost
variable cost
average cost
total cost
Which of the following statements best describes the Economies of Scale?
inversely proportional growth of total cost and average cost.
proportional growth in both cost and quantity produced.
increase in the cost to produce goods or services.
reduction of cost to produce goods or services.
"South Korea’s population has fallen for the first time in the country’s history, as it battles an aging population and chronically low birth rate.
The latest census figures, released at the weekend, show the population stood at 51,829,023 at the end of December, down from 20,838 from the previous year."
What external economies of scale is the statement concerned especially for businesses in South Korea?
Specialists and local back up firms needed.
The area where businesses are located
availability of good transportation
availability of local skilled labor
Which of the following is NOT an example of INTERNAL ECONOMIES OF SCALE?
Purchasing
Cooperation
Managerial
Technical
Financial
Costs that do not change in the short term, regardless of output are called:
variable costs
fixed costs
average costs
total costs
Raw materials, packaging, labour costs, are examples of:
fixed costs
variable costs
total costs
profit
Internal diseconomies of scale
External diseconomies of scale
External economies of scale
Diseconomies of Scale result in a lower per unit production cost over the long run
True
False
Internal diseconomies of scale can be caused by
Being unable to purchase stocks at a discounted price
Poor management being unable to effectively control a large workforce
Traffic congestion causing delays to delivery of important stocks
Advertising costs to a global audience
