Making Marketing Decisions GCSE Business Quiz
Test your knowledge of Making Marketing Decisions with this quiz.
This quiz consists of 15 questions, including multiple-choice and short-answer questions.
For multiple-choice questions, choose the correct answer.
Questions
What are the four elements of the marketing mix?
Incorrect
Correct
Incorrect
Incorrect
What is the main purpose of the product element of the marketing mix?
Incorrect
Incorrect
Correct
Incorrect
What is an example of a business using differentiation in its product strategy?
Incorrect
Incorrect
Incorrect
Correct
What is the purpose of setting a price for a product?
Correct
Incorrect
Incorrect
Incorrect
Which of the following pricing strategies involves setting a high price for a new product to maximise profit from early adopters?
Incorrect
Correct
Incorrect
Incorrect
What is meant by penetration pricing?
Penetration pricing is a strategy where a business sets a low price for a new product to attract customers and quickly gain market share, before gradually increasing the price.
How can promotion be used in the marketing mix?
Incorrect
Incorrect
Correct
Incorrect
What is an example of a promotion strategy?
Correct
Incorrect
Incorrect
Incorrect
Why is the place element of the marketing mix important?
Incorrect
Incorrect
Incorrect
Correct
What does distribution refer to in the context of the marketing mix?
Distribution refers to how a business makes its product available to customers, including decisions on the channels used, such as retail stores, online platforms, or wholesalers.
What is a direct distribution channel?
A direct distribution channel is when a business sells its products directly to consumers, without using intermediaries such as wholesalers or retailers.
How can a business use the marketing mix to compete in a competitive market?
A business can use the marketing mix by offering a unique product, setting competitive prices, promoting effectively, and ensuring the product is available in the right places to attract customers.
What is the importance of understanding customer needs when making marketing decisions?
Understanding customer needs allows businesses to tailor their product, price, promotion, and place strategies to meet customer expectations and increase sales.
What impact does competition have on the pricing element of the marketing mix?
Incorrect
Correct
Incorrect
Incorrect
How can the marketing mix help a business expand into new markets?
The marketing mix can help a business expand by adapting its product, setting an appropriate price, using effective promotion, and selecting the right distribution channels to meet the needs of the new market.
Category
