WorksheetsUnit 2.2 Making Marketing Decisions
Total questions: 50
Worksheet time: 25mins
A good product meets the wants and (a) of the customer.
Which three factors make up the design mix?
Function, aesthetics, cost
Function, design, customers
Construction, convenience, clarity
Aesthetics, creation, convenience
Which of the following is a stage of the product life cycle?
Discussion
Start
Instruction
Introduction
True or False: The growth phase of the product life cycle is when sales hit their peak.
True
False
When something is visually appealing/attractive it is known to be what?
Cheap
Aesthetic
Engaging
Entrepreneurial
At what stage of the product life cycle does a product lose popularity and sales fall?
Decline
Dip
Dive
Development
What does the abbreviation USP mean?
Unique sales pitch
Under sales pending
Unique selling point
Unexpected sales pitch
What can a business do to stop sales of their product from falling?
Extension strategy
Fire staff
Increase costs
Decrease costs
Which of these best describes product differentiation?
Having 100’s of different products in a range
Increasing the number of customers a business acquires
Making a product cheaper than the competition
Making a product different from the competition so it stands out
True or False: Running new advertising campaigns can help extend the life cycle of a product.
True
False
Why would a luxury watch brand set its prices high?
To attract as many customers as possible
To impress others
For the perception of high quality
To make the product affordable
When the price of a product falls, what usually happens to demand?
Falls
Increases
Stays the same
Nothing
What could happen if a business sets its prices too low?
The business will fail to make a profit
The business is guaranteed sales
The business increases its reputation
Employees may leave the company
Which of these best describes a high volume pricing strategy?
A high volume of products produced at a low cost in the hopes of selling large quantities
Maximising the difference between the production cost and selling price of a product but selling lower quantities
Which of these best describes a high margin pricing strategy?
A high volume of products produced at a low cost in the hopes of selling large quantities
Maximising the difference between the production cost and selling price of a product but selling lower quantities
True or False: The quality of a product is important when using a high margin pricing strategy.
True
False
Which of these adds value to a product?
Production costs
Sales
Branding
Colour
Which of the following is NOT an influencing factor on pricing strategies?
Technology
Employees
Competition
Market segments
What might a business do to the price of a product that is in the decline stage of the product life cycle?
Decrease it
Increase it
A smaller market with customers that have specific needs and interests.
Mass market
Niche market
Lead market
Stale market
TV, radio, social media and leaflets are examples of which promotional method?
Sponsorship
Advertising
Special offers
Product trials
Which promotion strategy aims to increase brand awareness and recognition through consistent visual elements and messaging?
Product trials
Special offers
Branding
Viral marketing
Which promotion strategy involves partnering with events, organizations, or individuals to gain visibility and association with their brand or cause?
Sponsorship
Advertising
Special offers
Product trials
Which promotion strategy aims to attract customers with limited-time deals or incentives to encourage immediate purchases?
Sponsorship
Advertising
Special offers
Product trials
Which of the following promotional methods would most likely increase the sales of cheese in a supermarket?
Sponsorship
E-newsletter
Product trials
True or False: Marketing and advertising are the same thing.
True
False
Which technology-based promotion strategy involves creating and sharing content that is intended to spread rapidly through social media platforms?
Viral marketing
Apps
E-newsletter
Branding
Which of these best describes targeted online advertising?
Advertising that in online only
Social media advertising that reaches a general audience
Advertising that is online that targets people who like archery
Online advertising that targets specific consumers based on their search history, online behaviour or demographics
Which of these would be classed as a special offer?
Discount
E-newsletter
Apps
Loyalty card
Which of these is NOT true about email marketing.
Businesses collect emails to build long lasting relationships with customers
Email is the most expensive form of technology based advertising
Businesses can use email marketing to send out offers to their customers
True or False: Place refers to where a business decides to place its advertisements.
True
False
What does ‘channel of distribution’ mean?
Different methods of getting a product from producers to customers
Different ways of advertising a product
Different ways of laying out a store
Different methods used to sell an item
What type of distribution channel is it when Apple sells an iPhone to a customer through their website?
Direct
Indirect
Being able to control the distribution and the prices charged are advantages of which distribution channel?
Direct
Indirect
Which of these best describes E-tailing?
Selling to customers using the internet, often through an e-commerce website
Selling to customers that use mobile devices
Selling to customers in physical stores that have internet access
Selling to customers in a physical store
True or False: An advantage of having a physical retail store is that it is available 24/7.
True
False
A department store is a type of what?
Retailer
E-tailer
E-commerce store
Which of these is an advantage of e-tailers?
Less products available
Goods do not need to be delivered
Customers can pay using cash
Open 24/7
Which of these is a disadvantage of e-tailers?
Discounts aren’t available
Customers need access to the internet
Advertising is more difficult
Loyalty cards cannot be used
Baked beans are most commonly sold via which distribution channel?
Direct distribution
Indirect distribution
The marketing mix is often referred to as the 4 Ps.
True
False
A business reduces its price by 50% for a limited time. Which element of the marketing mix is impacting the price of the product?
Promotion
Product
Place
A t-shirt manufacturer is trying to reduce the cost of producing its t-shirts. What is likely to be affected in order to cut costs?
Promotion
Quality
Place
Advertising
True or False: You would expect a high end luxury watch to be promoted by a ‘buy one get one free’ offer or some sort of substantial money off promotion.
True
False
What does it mean if a business has a competitive advantage?
They have found a way to produce a good or provide a service better than their competitors
They have increased their market share since the previous year
The business has a larger volume of customers
The business has increased its promotional activities
True or False: A business can gain a competitive advantage by having an integrated marketing mix.
True
False
Which of these is NOT an element of the marketing mix?
Product
Place
Purchase
Promotion
A luxury car manufacturer decides to use a substantially more expensive material for the seats in the vehicle. Which two elements of the marketing mix are most likely to be affected?
Product and promotion
Place and promotion
Place and product
Product and price
What is the ultimate goal of marketing?
To increase sales
To reduce competition
To increase prices
To decrease revenue
A business decides to move from a physical store to selling only online. What part of the marketing mix is this decision directly impacting?
Product
Price
Place
Promotion
