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- 1. Multiple Choice
A "market" is:
Anywhere that buyers & sellers can meet to communicate & trade in goods and services
Identifying customer needs & satisfying them profitably
Where a business focuses on the design & manufacture of the product itself rather than the needs of customers
Where a business focuses on the needs of consumers when developing products
- 2. Multiple Choice
"Marketing" is:
Anywhere that buyers & sellers can meet to communicate & trade in goods and services
Identifying customer needs & satisfying them profitably
Managing the finances of the business
Controlling the delivery of goods into and out of a business
- 3. Multiple Choice
If a business is "product orientated" it means:
They focus on the needs of the customer when developing products
They focus on the design & manufacture of the good itself rather than the needs of customers
They only produce products, and not services
- 4. Multiple Choice
Marketing involves:
Identifying the needs & wants of customers
Choosing the right price
Designing products
All of the above
- 5. Multiple Choice
A company that innovates new products based on their own tastes would invest heavily in market research
True
False
- 6. Multiple Choice
It is more expensive to keep an existing customer than to attract (get) a new one
True
False
- 7. Multiple Choice
Reward cards, free gifts, donations to charity are all ways to:
Meet customer needs
Push customers away
Keep customer loyalty
Save money for a business
- 8. Multiple Choice
"Marketing" is often a department in a business:
True
False
- 9. Multiple Choice
A business started to produce phone chargers that were 3 metres in length after consumers complained that traditional chargers were too short. This business is:
Market orientated
Product orientated
- 10. Multiple Choice
Only businesses that sell physical goods would have a marketing department.
True
False
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