OCR A-Level Business marketing overview quiz quiz

They are the same approach

Product orientation always uses far more market research than market orientation does before any product launch

Market orientation starts from customer needs; product orientation starts from the product the firm can make

Market orientation ignores customers

It is always far more expensive and much slower to obtain than primary research can be

It cannot give a broad picture of the market

It can only be carried out by large firms

It was collected for another purpose, may be out of date and is available to rivals

The whole market grew faster than the firm's sales

The firm has stopped trading in some of its largest markets

The firm's prices fell

This is impossible

A star

A cash cow

A question mark

A dog

Speed up the decline stage

Skip the introduction stage and launch straight into growth

Prolong the mature phase and delay decline

Reduce the launch cost

To make the product cheaper to produce by cutting spending on promotion and place

Because the law requires it

So the firm can avoid market research

So the four elements reinforce one another and fit the target position

-0.4

-2.5

-0.04

-4

Total revenue falls

Total revenue rises

Total revenue stays the same

Total revenue becomes zero

Price skimming

Cost-plus pricing

Penetration pricing

Loss-leader pricing

Use a completely different brand name, logo and product in every single country it enters

Sell only in its home country

Standardise everything with no local change

Keep a globally consistent brand while adapting specific elements to local markets