Tag: Business Studies

The stages of the product life cycle, in order, are?

Select ONE answer:

1. Maturity, saturation, growth, introduction
2. Introduction, growth, maturity, decline
3. Decline, saturation, development, growth
4. Introduction, growth, decline, maturity
5. Introduction, decline, maturity, saturation

Give an example of a real-life product (a) in the introduction phase and (b) in the maturity phase of the product life cycle:
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This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 2 – There are four stages in the product life cycle: introduction, growth, maturity, and decline.

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A marketing strategy is?

 

Select ONE answer:

1. A marketing target
2. A long-run marketing plan
3. A marketing goal
4. A short-term plan

A corporate mission statement

Give an example of a marketing strategy:
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This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 2 – A Start up or a company’s strategy combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the product mix in order to achieve the maximum profit and sustain the business. The marketing strategy is the foundation of a marketing plan.

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With reference to the diagram, what are the sales of Brand A?

 

Select ONE answer:

1. £90M
2. £180M
3. £100M
4. £60M
5. £6M

Show your workings:
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This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 1 – Brand A has 25% of the total sales of the market. Total sales of the market are £360M. 25% of £360M = £90M

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With reference to the diagram, by how much have sales increased from year 1 to year 2?

Select ONE answer:

1. 30%
2. 60%
3. 50%
4. 5%
5. 80%

Show your workings:
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This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 2 – £80M / £50M = 1.6 or 60%

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A focus group is used in?

Select ONE answer:

1. Qualitative market research
2. Quantitative market research
3. Quotient market research
4. Market de-segmentation
5. Secondary market research

What might a market research company use a focus group for:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 1 – It is a form of qualitative research consisting of interviews in which a group of people is asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, concept, advertisement, idea, or packaging.

This work is licensed under a Creative Commons Attribution 4.0 International License.