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HSC Business Studies - Marketing
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Which approach is being used when a business creates a focus group to evaluate a product? a)Marketing b)Production c)Selling d)Standardisation
a)Marketing
A bakery produces organis bread that is sold in health food stores. Which is the most appropriate channel choice for this product? a)Exclusive b)Extensive c)Intensive d)Selective
d)Selective
What type of market would a large scale manufacturer of pasta purchase flour for its products? a)Consumer b)Industrial c)Mass d)Resource
b)Industrial
A customer returns a chainsaw to the place of purchase as it does not cut branches. On what basis must the business refund the cost of the chainsaw? a)Implied conditions b)Ethical considerations c)accuracy in advertising
a)Implied conditions
Why might a business adopt a standardised global approach to marketing? a) To minimise risk hedging b)To increase market segmentation c)To take advantage of economies of scale
c)To take advantage of economies of scale
What is sugging?
Marketing disguised as as survey
What is market share?
A part of a total industry
What is a loss leader?
A product that is sold below cost price.
What is deceptive Advertising?
Advertising that is banned by legislation.
Who are four participants in the distribution channal?
Producer, Cnsumer, Wholesaler, Retailer
Give an example of a special promotion.
Coupon, premium, refund, sample, display
Name TWO types of advertising.
TV, Newspaper, Catalogues, Telemarketing, Emarketing, Social Media, Billboards
What are TWO pricing strategies?
Skimming, Price Penetration, Loss Leader, Price Points
What are THREE pricing methods?
cost-based, market-based, competition based
What are THREE elements of geographic segmentation?
region, urban, suburban, rurl, climate, city size, landforms
What are TWO common segmentation variables?
Demographic, Geographic, Psychographic, Behavioural
What are the 3 extra P's?
People, Processes, Physical Evidence
What are THREE features of a product?
Packaging, Labelling, Design, Brand, Quality, Guarentee
What are the 4 Ps?
Price, Product, Promotion, PLace
What are the FOUR stages of product lifecycle?
Introduction, Growth, Maturity, Decline
What are the FOUR components of SWOT?
Strenght, Weakness, Opportunity, Threat
What are the TWO economic influences on marketing?
Boom, recession
What are THREE motives that influence customer choice?
Comfort, HEalth, Saftey, Ambition, Taste, Pleasure, Fear, Amusement, Cleanliness
Name TWO factors that influence consumer choice
Governement, Psychological, Sociocutral, Economic
Name ONE type of market
Resource, Industrial, Intermediate, Consumer, Niche, Mass
Describe a logo for a major company.
EG - Nike - Swoosh, Qantas - Kangaroo, Golden Arches - MacDonalds etc
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