IB Business And Management Marketing 4.1 The Role Of Marketing

50 Questions | Total Attempts: 823

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IB Business And Management Marketing 4.1 The Role Of Marketing

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Questions and Answers
  • 1. 
    The size of a market cannot be measured in terms of:
    • A. 

      Sales revenue

    • B. 

      Sales volume

    • C. 

      Number of customers

    • D. 

      Marketing budgets

  • 2. 
    Which of the following is NOT part of the marketing mix for the marketing of goods?
    • A. 

      Product

    • B. 

      Promotion

    • C. 

      People

    • D. 

      Place

  • 3. 
    The marketing mix for services does NOT include:
    • A. 

      Price

    • B. 

      Physical environment

    • C. 

      Pledge

    • D. 

      People

  • 4. 
    Marketing is about all the following things except:
    • A. 

      Understanding the needs and wants of customers

    • B. 

      Meeting the needs and wants of customers

    • C. 

      Customer relations

    • D. 

      Recruiting the best sales people

  • 5. 
    • A. 

      Perishable

    • B. 

      Owned upon purchase

    • C. 

      Tangible

    • D. 

      Homogeneous

  • 6. 
    Market orientation is a marketing strategy that involves:
    • A. 

      Researching customers' needs in order to develop new products

    • B. 

      Producing innovative goods that meet the needs of the market

    • C. 

      Developing products based on a firm's production capability

    • D. 

      Primary research techniques to find out about customers' wants and needs

  • 7. 
    Which statement can NOT be applied to the nature of marketing?
    • A. 

      Customers are of central importance to marketing

    • B. 

      Marketing affects all parts of a business

    • C. 

      Marketing is all about selling to meet the needs of customers

    • D. 

      Marketing is not the same as advertising

  • 8. 
    A marketing plan is NOT likely to include:
    • A. 

      A SWOT analysis

    • B. 

      Marketing objectives

    • C. 

      Financial information

    • D. 

      Methods of production

  • 9. 
    Market share can be described as:
    • A. 

      The total sales, as measured by value or volume, in a market

    • B. 

      The percentage of total sales in a market that can be attributed to a firm

    • C. 

      The number of suppliers in a market

    • D. 

      The relative size of a market

  • 10. 
    Which statement can NOT be applied to market orientated businesses?
    • A. 

      Products are produced that customers actually want or need

    • B. 

      Prices take account of what people are prepared and able to pay

    • C. 

      There is heavy spending on product research and development

    • D. 

      Customers buying habits enable a firm to establish promotional strategies

  • 11. 
    The physical element in the marketing of a service is known as the:
    • A. 

      Product

    • B. 

      Physical environment

    • C. 

      Ambience

    • D. 

      Feel-good factor

  • 12. 
    An advantage of a higher market share is that:
    • A. 

      It can lead to market leadership or dominance

    • B. 

      It requires economies of scale to be earned

    • C. 

      There will be less competitors in the market

    • D. 

      The firm will operate more productively

  • 13. 
    Product orientated marketing means:
    • A. 

      Using a firm's strengths such as its brand image to market existing and new products

    • B. 

      Marketing decisions based on the needs of customers

    • C. 

      Producing and marketing products that the firm believes will sell

    • D. 

      Using a firm's assets to increase the marketing budget

  • 14. 
    The marketing approach that uses the strengths of a business to market both new and existing products is known as:
    • A. 

      Product orientation

    • B. 

      Market orientation

    • C. 

      Asset-led marketing

    • D. 

      Social marketing

  • 15. 
    Core competencies of a business are unlikely to include its:
    • A. 

      Brand names

    • B. 

      Global reach

    • C. 

      Distribution channels

    • D. 

      Newly recruited staff

  • 16. 
    Organisations trying to market healthier diets and eating habits are most likely to use:
    • A. 

      Asset-led marketing

    • B. 

      Social marketing

    • C. 

      Product orientation

    • D. 

      Market orientation

  • 17. 
    Which feature can NOT be applied to market orientated businesses?
    • A. 

      Research is conducted on the needs and wants of customers

    • B. 

      Products are designed according to what the producer feels will sell the best

    • C. 

      Price is based on the ability and willingness of customers to pay

    • D. 

      Distribution networks make it convenient for customers to make purchases

  • 18. 
    Which of the following is an example of a marketing objective for Toys R Us?
    • A. 

      Increase output by 1 million toys by the end of the year

    • B. 

      Open five new stores in Vietnam within the next three years

    • C. 

      Increase market share by five per cent within the next 20 months

    • D. 

      Increase brand awareness through above-the-line promotions

  • 19. 
    Mr Burton has decided to open a franchise of Le Cafe Ltd in a busy commercial district. She has decided to employ premium pricing for its range of coffees and deserts. He has decided to advertise by distributing flyers and coupons in the local area. Which elements of the marketing mix have NOT been mentioned in the above situation?
    • A. 

      Price, Promotion and People

    • B. 

      Place, Physical environment and Profit

    • C. 

      Place, Price and Promotion

    • D. 

      People, Physical environment and Process

  • 20. 
    Identify an alternative marketing approach to market orientation  from the given options:
    • A. 

      Service orientation

    • B. 

      Consumer orientation

    • C. 

      Production orientation

    • D. 

      Product orientation

  • 21. 
    Marketing that exploits the strengths of a business, such as its brand name, to market both new and existing products is known as:
    • A. 

      Asset-led marketing

    • B. 

      Market-led marketing

    • C. 

      Consumer-led marketing

    • D. 

      Product-led marketing

  • 22. 
    Which of the following is NOT part of the marketing mix for services?
    • A. 

      Customer relations management

    • B. 

      Pricing

    • C. 

      Production

    • D. 

      Distribution

  • 23. 
    Marketing that takes account of the moral issues involved in business is known as:
    • A. 

      E-marketing

    • B. 

      Persuasive marketing

    • C. 

      Ethical marketing

    • D. 

      Public relations management

  • 24. 
    The management of an organisation's relations and interactions with its customers is known as:
    • A. 

      Human resources management

    • B. 

      Human relations management

    • C. 

      Customer relations management

    • D. 

      Public relations management

  • 25. 
    Some businesses are seen to have senior management chauffeured in expensive cars, partly to portray an image of high quality and standards. This is an example of:
    • A. 

      Packaging

    • B. 

      People management

    • C. 

      Process management

    • D. 

      Physical evidence

  • 26. 
    _____________ : A business strategy based on the core strengths (core competencies) of the firm. Businesses that adopt this approach use their core assets, such as brand name, to develop and launch new products.
  • 27. 
    _______________: Are firms that dominate the market share in a particular market. The business that has the largest market share in an industry, as measured by value or volume of sales, is called the market leader.
  • 28. 
    ____________: Is an approach adopted by businesses that are OUTWARD looking. They focus on making products that they can sell, rather than selling products they can make.
  • 29. 
    ____________________: Measures the value of a firm's sales revenue as a percentage of the industry's total; e.g. a business with 35% market share means that for every $100 sold in the industry, the firm earns $35 of the sales revenue.
  • 30. 
    ____________________: The management task that links the business to the customer by identifying and meeting the needs of customers profitably. It does this by getting the right PRODUCT at the right PRICE at the right PLACE with the right PROMOTION.
  • 31. 
    _________________: A review of the firm's current marketing mix, in terms of its strengths, weaknesses, opportunities and threats.
  • 32. 
    ________________________: The main elements of a firm's marketing strategy: PRODUCT, PRICE, PROMOTION & PLACE.
  • 33. 
    ________________: The document outlining a firm's marketing objectives and strategies for a specified time period.
  • 34. 
    __________________: Any medium-to long-term plan for achieving the marketing objectives of a business.
  • 35. 
    _________________: A marketing approach adopted by businesses that are INWARD looking. They focus on selling products they can make, rather than making products they can sell.
  • 36. 
    _______________________: Any activity that seeks to influence social behaviour to benefit the target audience and society as a whole. It DOES NOT mean SOCIAL MEDIA (e.g. Facebook).
  • 37. 
    _____________: Markets for goods and services bought by the final user of them.
  • 38. 
    __________________: Markets for goods and services bought by businesses to be used in the production process of other products.
  • 39. 
    __________________: The total level of sales of all producers within a market.
  • 40. 
    ___________________: The percentage change in the total size of a market (volume or value) over a period of time.
  • 41. 
    Complete the missing figure in the table below for a market valued at $150 million. Company Sales ($m) Market share A  60  ? B  30   C    22 D    18
    • A. 

      33

    • B. 

      27

    • C. 

      40

    • D. 

      34

  • 42. 
    Complete the missing figure in the table below for a market valued at $150 million. Company Sales ($m) Market share A  60   B  30 ? C    22 D    18
    • A. 

      46

    • B. 

      32

    • C. 

      40

    • D. 

      20

  • 43. 
    Complete the missing figure in the table below for a market valued at $150 million. Company Sales ($m) Market share A  60   B  30   C ?  22 D    18
    • A. 

      33

    • B. 

      42

    • C. 

      16

    • D. 

      20

  • 44. 
    Complete the missing figure in the table below for a market valued at $150 million. Company Sales ($m) Market share A  60   B  30   C    22 D ?  18
    • A. 

      15

    • B. 

      22

    • C. 

      27

    • D. 

      32

  • 45. 
    Marketing is concerned with promoting goods and services to customers.
    • A. 

      True

    • B. 

      False

  • 46. 
    Marketing is the same as advertising and selling.
    • A. 

      True

    • B. 

      False

  • 47. 
    Markets can exist without physical locations.
    • A. 

      True

    • B. 

      False

  • 48. 
    The marketing mix is a central feature of any marketing plan.
    • A. 

      True

    • B. 

      False

  • 49. 
    Advertising is what gets products sold.
    • A. 

      True

    • B. 

      False

  • 50. 
    Consumer markets are the products directly aimed at individuals and households.
    • A. 

      True

    • B. 

      False