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Theme 1 - Marketing (Part A)

Total questions: 123

Worksheet time: 54mins

Name
Class
Date
1.

In February 2012, football star David Beckham launched a range of men’s underwear called Bodywear. This range is only being sold in H & M high street stores.


This business opportunity for H & M is best described as a form of

a)

test marketing

b)

trade-off

c)

market mapping

d)

market differentiation

2.

The Old Amalfi Italian restaurant in Russell Square, London, prepares more expensive dishes made with fresh pasta, herbs, fruit and vegetables.


The use of fresh ingredients at the Old Amalfi might be regarded as an example of

a)

contribution

b)

qualitative research

c)

trade credit

d)

adding value

3.

Graphotism is a quarterly magazine aimed at street artists in the UK. It is not widely available to buy from newsagents.


Graphotism is an example of a product which has

a)

a market niche

b)

potential sample bias

c)

limited liability

d)

a high sales volume

4.

Before setting up in business as a personal trainer in 2010, Marvin Burton undertook qualitative and quantitative market research. Which one of the following questions is most likely to lead to qualitative results?

a)

How often do you visit a gym?

b)

What price are you currently paying for gym membership?

c)

What motivated you to join a gym?

d)

How long have you been a member of a gym?

5.

If the price of Apple iPhones increases, the company would be willing to supply more because

a)

producing Apple iPhones had become more profitable

b)

costs of producing iPhones had recently increased

c)

VAT on mobile phones had increased

d)

prices of competitors’ mobile phones had fallen

6.

In a consumer survey conducted by Network Rail in 2010, analysts argued that results were not valid because sampling methods used were biased.


Which one of the following might lead to a biased set of survey results for Network Rail?

a)

A range of respondents was chosen representing all rail passengers

b)

Questions were asked at various times on different days of the week

c)

First and standard class passengers were included in the sample

d)

Only passengers with discount cards were used in the sample

7.

High street retailer, Marks and Spencer, has become more market orientated in recent years. Each of the following is a likely benefit of market orientation, except

a)

sales revenue increases

b)

advertising costs might fall

c)

customer loyalty increases

d)

producers can sell what they want

8.

The formula for calculating revenue.

a)

Fixed Costs - Variable Costs

b)

Quantity Sold X Selling Price

c)

Quantity Sold + Selling Price

d)

Quantity Bold X Selling Cost

9.
If a business's sales double, its variable costs will also likely
a)
remain the same
b)
decrease
c)
increase
d)
double
10.
A business that does not reach break-even will
a)
go bankrupt
b)
have profit and loss
c)
lose money
d)
need to relocate
11.
An entrepreneur is someone 
a)
Someone who works for a new business
b)
Someone who starts a new business
c)
Someone who takes over an existing business
d)
Someone who does not want to work
12.
Which of these IS NOT a form of Business?
a)
Public Limited Company
b)
Sole Trader
c)
Limited Company
d)
Sole Company
13.
Which of the following best describes quality?
a)
The service provided to a customer before, during and after purchasing.
b)
Products being made to a high standard to meet customer needs.
c)
A high level of productivity.
14.
Who needs to be satisfied with the quality of products?
a)
Rivals
b)
Suppliers
c)
Customers
15.

A firm has sales of £6m per year in a market worth £12m per year

a)

market share = 200%

b)

market share = 20%

c)

market share = 2%

d)

market share = 50%

16.

Which market is likely to be the most dynamic ?

a)

baked beans

b)

pasties

c)

technology gadgets

d)

bread

17.

Competition has one of the following effects on a market :

a)

less innovation

b)

less choice of products

c)

lower prices

d)

less choice of product providers

18.

Find out what customers want, then make a product to suit their needs =

a)

product orientation

b)

market orientation

c)

product-led marketing

19.

Market research that obtains opinions, beliefs, attitudes :

a)

qualitative research

b)

large scale surveys with closed questions

c)

quantitative research

20.

Primary market research :

a)

government data

b)

competitors' websites

c)

desk research

d)

confidential

21.

Divide the market into identifiable groups of customers :

a)

sequencing

b)

segmentation

c)

augmentation

d)

cementation

22.

A product costs £3.50 to make and supply to customer. Its selling price = £6.00

Therefore the added value = £

a)

3.50

b)

6.00

c)

8.50

d)

2.50

23.

Which products below are substitute goods ?

a)
b)
c)
d)
24.

Which airline has the competitive advantage of a low price ?

a)
b)
c)
d)
25.

The USP of Dysons fan :

a)

it is blue

b)

it is electric

c)

it is bladeless

d)

it is round

26.

Cost to make = 80p Selling price = £2.30

a)

Added value = £3.10

b)

Added value = £1.84

c)

Added value = £0.80

d)

Added value = £1.50

27.

Caused by :

a)

using a large sample

b)

clear understandable questions

c)

using a small sample

28.
a)

above shows market share

b)

above shows market growth

c)

above shows market map

d)

above shows market segments

29.

a)

image = Product orientation

b)

image = Market orientation

30.

Mass production enables the cost per unit to be :

a)

higher

b)

lower

c)

unchanged

31.

Qualitative market research gathers :

a)

replies from closed questions

b)

statistically significant data

c)

opinions and attitudes

d)

data from large scale surveys

32.

Which is the odd-one out ? :

new, field-based, desk-based, confidential,

a)

new

b)

field-based

c)

desk-based

d)

confidential

33.

A firm sells 3000 units at £9 each, total revenue =

a)

270

b)

27000

c)

2700

d)

3900

34.
a)

factory supplying a niche market

b)

factory supplying a mass market

35.

a)

Niche market

b)

Mass market

36.

a)

niche market

b)

mass market

37.

Economies of scale leads to :

a)

higher unit cost of production

b)

lower unit cost of production

38.

Which is a food brand ?

a)
b)
c)
d)
39.

Name the company (one word answer)

(a)  

40.

An advantage to a business of selling online :

a)

higher costs rent and staff wages

b)

customers can physically inspect the product

c)

customers can take the product home immediately

d)

a larger range of products can be offered

41.

Which of the below is an example of direct competition ?

a)
b)
c)
42.

Viral marketing is a social trend in

a)

price

b)

product

c)

promotion

d)

place

43.

is the formula for :

a)

market share

b)

percentage change

c)

market size

44.

Automation is more likely in a :

a)

niche market

b)

mass market

45.

A bespoke product =

a)

a standard mass produced product

b)

a product made to the customer specification

c)

an off-the-shelf product

46.

A product is likely to be cheaper :

a)

in a mass market

b)

in a niche market

47.
a)

market share = 40%

b)

market share = 30%

c)

market share = 36%

d)

market share = 25%

48.

Can sell to customers 24 hours a day, worldwide

a)
b)
49.

Customers can physically inspect the product

a)
b)
50.

More risk of products being returned

a)
b)
51.

Which image shows an internal risk ?

a)
b)
c)
d)
52.
a)

market orientation

b)

product orientation

53.

Market research may be inaccurate due to :

a)

large sample size

b)

clear understandable questions

c)

good methodology (how it was done)

d)

small sample size

54.

a focus group in an example of :

a)

secondary market research

b)

primary market research

55.

competition leads to

a)

less innovation

b)

higher prices for consumers

c)

lower prices for consumers

d)

a narrow product range

56.

Which question below could be used in a quantitative market research survey

a)

how do you feel about maltesers ?

b)

what does the logo mean to you ?

c)

how many times a week do you buy groceries ?

d)

what emotion does the brand evoke ?

57.

A benefit of online selling (e-commerce)

a)

customer can handle the product

b)

salesperson provides face to face advice

c)

open 24 hours a day , 7 days a week

d)

a high street presence

58.

Which of the following relates to qualitative market research ?

a)

large scale survey

b)

numerical data, statistics

c)

subjective opinions, attitudes

d)

closed questions

59.

Economies of scale are more likely in a

a)

niche market

b)

mass market

c)

small market

d)

focused market

60.

Finding out what customers want first is

a)

product-orientation

b)

product-led marketing

c)

market orientation

d)

unnecessary

61.

Which of the following is a source of secondary market research

a)

observation of consumer behaviour in store

b)

focus group

c)

individual interviews

d)

trade publications (eg. the Grocer mag.)

62.

Use of ICT in market research : websites, social media and d (a)   (one word)

63.

Sample s (a)   affects the reliability of the market research

64.

unreliable market research is due to b.........

a)

bios

b)

bias

c)

buses

d)

bees

65.

Kitkat is under the

a)

yellow post-it

b)

pink post-it

66.
Define the term 'promotion'
a)
The methods a business uses to communicate with its customers to make them aware of their products
b)
Audio or visual form of marketing for products or services
67.
Why do businesses offer three goods for the price of 2?  
a)
Used by businesses to shift old stock or where stock has not been selling as well as expected.
b)
Customers stockpile and won’t need to buy those products for a while.
68.

Which of the following is the BEST definition of market segmentation?

a)

Dividing up the market into groups of customers with similar characteristics

b)

Grouping customers by age

c)

Trying to sell to everybody in the market

d)

Focusing on customers who are most likely to buy

69.

Which of the following are examples of demographic segmentation? Select those that apply.

a)

Buying habits

b)

Age

c)

Where you live

d)

Socio economic group

70.

Which of the following are examples of behavioural segmentation? Select those that apply.

a)

Spending

b)

Usage

c)

Gender

d)

Personality

71.

Which of the following are examples of psychographic segmentation? Select those that apply.

a)

Where customers live

b)

Attitudes

c)

Life style

d)

Loyalty to a brand

72.

This definition: "market for goods that are produced in large quantities" best describes.....

a)

Niche Market

b)

Mass Market

c)

Dynamic Markets

d)

Innovation

73.

This definition: "Where a business targets a smaller segment of a larger market, where customers have specific needs and wants" best describes.....

a)

Niche Market

b)

Mass Market

c)

Dynamic Markets

d)

Innovation

74.

This definition: "the business develops products based on what it is good at making or doing, rather than what a customer wants" best describes.....

a)

segmentation

b)

A market orientated approach

c)

A product orientated approach

d)

Innovation

75.

This definition: "a business reacts to what customers want. The decisions taken are based around information about customers' needs and wants" best describes.....

a)

segmentation

b)

A market orientated approach

c)

A product orientated approach

d)

Innovation

76.

(a)   research is based on opinions, attitudes, beliefs and intentions. This kind of research deals with questions such as "Why"? "Would?", or "How?"

77.

_________________ research aims to understand why customers behave in a certain way or how they may respond to a new product.

a)

Quantitative

b)

Qualitative

c)

primary

d)

secondary

78.

_________________ research is concerned with data and addresses question such as "how many?", "how often", "who?", "when?" and "where?"

a)

Quantitative

b)

Qualitative

c)

primary

d)

secondary

79.

EXAM TECHNIQUE

Which of the following connective words/phrases is most likely to support you in building a logical chain of argument (& earn ANALYSIS marks) in your exam answers.

a)

"on the other hand"

b)

"this could lead to"

c)

"however"

d)

"marketing"

80.

EXAM TECHNIQUE

Which of the following connective words/phrases is most likely to support you in showing counterbalance (& help you earn EVALUATION marks) in your exam answers.

a)

"on the other hand"

b)

"this could lead to"

c)

"resulting in"

d)

"because"

81.

Which of the following 3 are the most likely examples of the benefits to a business of ADDING VALUE to its products/service.

a)

charge a fair price, be competitive, support local

b)

motivate employees, innovative, less waste

c)

charge higher price, protection against competitors, focus on target market

d)

survival, environmental impact, brand awareness

82.

"Dividing a market into the segments based on the different ways customers use or respond to a product and the benefits they seek". Best describes.... ____________ segments

a)

Income

b)

Geographic

c)

Behavioural

d)

Demographic

83.
What is an example of primary research?
a)
Magazine
b)
Observation
c)
Newspaper
d)
Government statistics
84.

Downloading and viewing instructional videos on how to use a product

a)

Primary Research

b)

Secondary Research

85.
This is a small number of people who are brought together to discuss elements of a specific issue or problem.
a)
Focus Group
b)
Observation
c)
Survey
d)
Test Market
86.
What is a problem with using secondary data?
a)
It is easy to find
b)
It is normally quicker to find
c)
You did not create it (it might be unreliable)
d)
You have to find the information yourself
87.

Which two of the following statements are disadvantages of primary research?

a)

Many people don't like completing surveys

b)

You can find specific information

c)

Some people just say what they want you to hear

d)

The business has control over the research and results

88.
___________ is a method used to identify customers with similar wants and needs.
a)
Selling
b)
Planning
c)
Market Segmentation
d)
Sales pitch
89.

The process of dividing a market of potential customers into groups based on different characteristics is called

a)

Market Segmentation

b)

Market Analysis

c)

Demographics

d)

Consumer identification

90.
A common disadvantage of primary research for a startup is that:
a)
It is time-consuming to obtain
b)
It doesn't answer the questions asked
c)
It doesn't allow for qualitative questions
d)
It can't be done online
91.
Which is true of niche markets?
a)
You sell undifferentiated products
b)
You sell differentiated products
92.
What would be a better example of a dynamic market
a)
Technology markets
b)
Fizzy drink
93.
What is a dynamic market?
a)
One that only grows
b)
One with slow (or very minor) growth or retraction
c)
One that changes rapidly
d)
One with many businesses
94.
smaller market that has a unique set of needs
a)
Psychographics
b)
Niche market
c)
Mass marketing
d)
Product usage
95.
A niche market addresses a need for a product or service that is not being addressed by mainstream providers
a)
true
b)
false
96.
What is market share?
a)
The amount of total sales over a time period
b)
The amount of total profit over a time period
c)
The amount of praise over a time period
d)
Taking a piece of the market
97.
Which business would likely sell to a niche market?
a)
Cadbury
b)
Hotel Chocolat
98.
Who would likely have a higher market share in the chocolate market?
a)
Cadbury
b)
Hotel Chocolat
99.

A market is any place that buyers and sellers will come together to exchange goods or services?

a)

True

b)

False

100.

What is the formula for Market share?

a)

Sales of one firm/Total market sales x 100

b)

Number of units sold x price

c)

change in size of market / original size x 100

101.

What is the formula for Market size?

a)

Sales of one firm/Total market sales x 100

b)

Number of units sold x price

c)

change in size of market / original size x 100

102.

What is the formula for Market Growth?

a)

Sales of one firm/Total market sales x 100

b)

Number of units sold x price

c)

change in size of market / original size x 100

103.

A mass market is likely to sell a high volume of goods at a low profit margin?

a)

True

b)

False

104.
What is the brand shown?
a)
Dairy Milk
b)
Maltesers
c)
Oreo
d)
Galaxy Ripple
105.

Which of the following is not a characteristic of a mass market?

a)

Smaller quantity of products produced

b)

Large customer base

c)

High sales and profits.

d)

Customer needs and wants are less specific.

106.
What is a mass market?
a)
The part of the market where only retailers can buy
b)
The part of the market where products are sold simlilarly
c)
The part of the market where a very little percentage of busniess is done
d)
The part of the market where the most money is made
107.
How does an E-commerce business?
a)
A business that is run through the internet
b)
A business that conducts over 80% of its sales online
c)
A business that conducts all of its transactions online
d)
A business that buys all of its stock online
108.
Which market is branding most important in?
a)
Dynamic
b)
Niche
c)
Mass
d)
Online market
109.
Which supermarket has the largest market share?
a)
Aldi
b)
Sainsburys
c)
M&S
d)
Asda
e)
Tescos
110.
A dynamic market is likely to change
a)
true
b)
false
111.
What is E-tailing?
a)
The retailing of goods in your backgarden
b)
The retailing of goods online
c)
Where consumers purchases are tracked by previuos searches
d)
The process of startig up a online business
112.
Which type of market is this: A small market within a large market
a)
Mass
b)
Tumourous
c)
Dynamic
d)
Niche
113.
Why might a new market occur?
a)
Econmic growth
b)
Demographic changes
c)
Social changes
d)
Change in income
114.
Business that invest in R&D are likely to survive longer in the market?
a)
true
b)
false
115.
Niche markets generate lower profit margins.
a)
true
b)
false
116.
How do businesses attract customers?
a)
Offering better quality products
b)
Lowering prices
c)
Taking rivals customers
d)
Better branding
117.
Is E-tailing an important part of E-commerce businesses?
a)
true
b)
false
118.
An online retailer can take orders 24/7
a)
true
b)
false
119.
Why might a market grow?
a)
New technology
b)
Rise in a competitors sales
c)
Changes in the econmy
d)
cahnges in legislation
120.
What is the value of a market?
a)
total sales
b)
All competitors prices added together
c)
Online profits
d)
The amount of profit generated
121.

Which market is likely to be the most dynamic ?

a)

baked beans

b)

pasties

c)

technology gadgets

d)

bread

122.
Why do businesses use market research?
a)
To identify customer needs
b)
To sell goods and services
c)
To advertise
123.
What does desk research involve?
a)
Gathering existing data
b)
Conducting surveys
c)
Gathering new data

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