Business Studies Multiple Choice Question – 31 January 2022

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Business Studies
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The Big Adventure Company offers a range of niche holidays, such as walking Cannock Chase and climbing Pudding Hill.

Which one of the following would be the most appropriate marketing strategy for The Big Adventure Company to use?

Select ONE answer:

  1. Penetration pricing
  2. Specialist magazines
  3. Special offers
  4. National television

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Business Studies KS4 & KS5 classes

The answer is 2

  1. Not correct – because penetration pricing would not be needed as there is less competition and demand is likely to be price inelastic.
  2. Correct – A niche market is a small part of the overall market that has certain special characteristics or marketing strategies e.g. the combination of the 4Ps used to promote the product to the target market to achieve their goals. The Big Adventure Company only offers a small range of holidays and is not targeting the mass holiday market so focuses on specific types of holidays. Specialist magazines will be read by the target market and therefore provide the most effective means of communication.
  3. Not correct – because special offers are unlikely to be used as the product is more important than the price.
  4. Not correct – because the cost would be prohibitive for a small company and is more suitable for a mass market.

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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