Eduqas A-Level Business marketing overview quiz quiz

Buying advertising slots on television and radio so that the largest possible audience sees the product

Setting the lowest possible price

Manufacturing goods efficiently

The management process of identifying, anticipating and satisfying customer needs profitably

Starts from customer needs and researches the market before designing products

Starts from the product the firm can already make and simply assumes that customers will follow

Ignores customers entirely

Only sells in physical markets

22

38

60

82

Segmenting buyers into age bands such as teenagers, young adults and older retired customers

Segmenting by region

Segmenting by usage rate or loyalty

Segmenting by income

A firm's cash inflows and outflows plotted month by month across a full trading year

The stages of the product life cycle

A firm's organisational structure

How a product is perceived against rivals on two features such as price and quality

High share in a low-growth market

High share in a high-growth market

Low share in a high-growth market

Low share in a low-growth market

Launch a brand-new product into a fast-growing market segment that the firm has not served before

Reduce the firm's costs

Prolong the maturity stage and delay the decline of a product

Withdraw a product from the market

53

65

80

150

Penetration

Competitive pricing

Predatory pricing

Price skimming

-0.5

-0.05

-5

-50

Revenue falls

Revenue stays exactly the same

Revenue rises

Revenue becomes zero

How the quantity demanded of a good responds to a change in its own selling price

How costs respond to output

How profit responds to revenue

How demand responds to a change in consumers' income