Setting Marketing Objectives (AQA A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does marketing do according to its definition?
What does marketing do according to its definition?
Connects company offerings with customers
What is the difference between sales volume and sales value?
What is the difference between sales volume and sales value?
Volume is units sold; value is monetary
If a firm has sales of £3bn in a £30bn market, what is its market share?
If a firm has sales of £3bn in a £30bn market, what is its market share?
10%
Why might sales grow but market share fall?
Why might sales grow but market share fall?
Competitors grow faster in expanding market
Which is NOT a benefit of brand loyalty?
Which is NOT a benefit of brand loyalty?
Higher acquisition costs for customers
What does the 'A' in SMART objectives stand for?
What does the 'A' in SMART objectives stand for?
Achievable
Sales grew from £200k to £250k. What is the sales growth percentage?
Sales grew from £200k to £250k. What is the sales growth percentage?
25%
Which is a benefit of increasing market share?
Which is a benefit of increasing market share?
Potential for economies of scale
If a firm has 15% market share and £3m sales, what is the market size?
If a firm has 15% market share and £3m sales, what is the market size?
£20m
How do market conditions affect marketing objectives?
How do market conditions affect marketing objectives?
Growing markets allow ambitious objectives