What term is used to describe finding out about a particular market?

• Market research
• Questionnaire
• Tracking cookies
• Word-of-mouth

A company launches a new type of shower gel. To get people to try the new brand, they launch it with an initially low price. What is this pricing strategy called?

• Price skimming
• Cost plus
• Penetration pricing
• Competitive pricing

What is market size?

• The physical size of a market
• The number of competitors in a market
• The total value or volume of a market

On the Boston Matrix, which term refers to a product which has high growth and a high market share?

• Question mark
• Star
• Dog
• Cash cow

Which of the "four Ps" of the marketing refers to where a product is sold?

• Product
• Price
• Promotion
• Place

Which of the following is secondary research?

• Counting the number of people who enter your shop
• Trying new ideas and recording the results
• Setting up a focus group
• Analysing a government report on the state of a market

Which term describes selling a product at a loss, but recovering profits on other items a customer may subsequently purchase?

• Cost plus
• Loss leader
• Price skimming
• Penetration pricing

Which of the following is not a definition of a "market size"?

• The number of potential customers
• The number of sellers of a particular product or service
• The total value of products in a market
• The profit a business will make by selling its products or services

A games company introduces a new console. They initially sell it at an inflated price. What is this pricing strategy called?

• Price skimming
• Cost plus
• Penetration pricing
• Competitive pricing

Which of the "four Ps" of the marketing refers to whether a customer feels a product is value for money?

• Product
• Price
• Promotion
• Place