Eduqas GCSE Business topic area 5 Marketing overview quiz quiz

Product, price, profit, place

Product, price, promotion, place

People, price, promotion, profit

Product, profit, promotion, people

The price of a product compared with the various prices charged by all of its very closest rivals

The location of a shop

The feature that makes a product or business different from and more attractive than rivals

The cost of making a product

Using data that already exists, such as government statistics and reports prepared by others

Researching only the most important customers

Copying a competitor's research

Collecting new, first-hand data directly for the business's own purpose

Data about opinions, feelings and reasons, such as why customers buy

Numerical data such as exactly how many people bought a product in a given month

Data that is always more reliable than quantitative data

Data collected only online

They are the same thing

Segmentation divides the market into groups; targeting chooses which group(s) to aim at

Targeting always comes first, and the market is only split into separate groups afterwards

Segmentation means advertising to everyone

24%

30%

33%

56%

10

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15

5

Setting a deliberately high price for a unique new product that no rival currently sells

Matching the prices of rivals exactly

Adding a fixed margin to the cost

Setting a low price to enter a market and win share, then raising it

So they support the same positioning; a premium product needs a high price, classy promotion and upmarket distribution

So that the business can always charge the lowest possible price and clearly undercut every single one of its rivals on cost

Because the law requires it

So the business avoids paying tax

Selling goods only in physical high street shops and never anywhere online at all

Marketing through magazines

E-commerce carried out through mobile devices such as smartphones

A pricing strategy

Its results cannot be measured or tracked by the business in any way at all

It reaches fewer people

It is always free

It allows cheap, precisely targeted marketing that can be measured

0.02

0.20

2.00

0.05