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- 1. Multiple Choice
What is a niche market?
A market in which businesses sell to a large customer group with similar needs.
A market in which businesses sell to a variety of customers.
A market in which businesses sell to a small customer group with specific needs.
A market in which businesses sell one product to many consumers.
- 2. Multiple Choice
What is a mass market?
When a business sells different products to all consumers and markets them in the same way.
When a business sells the same products to all consumers and markets them in a different way.
When a business sells different products to all consumers and markets them in a different way.
When a business sells the same products to all consumers and markets them in the same way.
- 3. Multiple Choice
Which of the following is not included in marketing?
Identifying wants/needs of consumers
Understanding competitors’ threats
Telling customers about products & persuading to buy
Developing forecasts to determine sales for the month
- 4. Multiple Choice
Which of the following is not a characteristic of a mass market?
Smaller quantity of products produced
Large customer base
High sales and profits.
Customer needs and wants are less specific.
- 5. Multiple Choice
Which one of the following is a disadvantage of a mass market?
Higher revenues can be spent on R+D
Homogenous products need to be differentiated through marketing which can be expensive.
Mass marketing is straightforward as everyone is equally targeted.
Large scale productions means economies of scale and lower average unit costs.
- 6. Multiple Choice
Market size can be measured in three ways.
currency, quantity, and time
currency, time, and volume
volume, number of people, currency
currency, quantity, or volume
- 7. Multiple Choice
What is the problem with trying to determine market share?
There are too many products in the market
Can be difficult to determine what “counts”
The market is too small to try and calculate
The market has too many competitors
- 8. Multiple Choice
Which one of the following is not a type of market?
Commodity market
Real estate market
Financial market
Pencil market
- 9. Multiple Choice
Specialist skills and knowledge is a feature of what market
A mass market
A niche market
Both
A specialist market
- 10. Multiple Choice
Classify the following: Small scale production can be flexible and follow trends
A disadvantage of a niche market
A disadvantage of a mass market
An advantage of a small market
None of the above
- 11. Multiple Choice
Chocolate flavoured ice-cream is.........
A product in a niche market
A product in both markets
A product in a mass market
Very tasty
- 12. Multiple Choice
Mr Daniel is from......
Portsmouth
Penrith
Perth
South Australia
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