Global Niche Markets (Edexcel 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 is the key characteristic of global niche markets?
What is the key characteristic of global niche markets?
Customers willing to pay premium prices
What do niche businesses prioritise over market share?
What do niche businesses prioritise over market share?
Profit margins
How do social media platforms help global niche brands spread awareness?
How do social media platforms help global niche brands spread awareness?
Through influencers and vloggers
Why did Irish Mist need rebranding for Germany?
Why did Irish Mist need rebranding for Germany?
'Mist' means manure in German
In Far Eastern countries, which colour is associated with mourning?
In Far Eastern countries, which colour is associated with mourning?
White
What does Virgin Atlantic Upper Class include?
What does Virgin Atlantic Upper Class include?
Chauffeur-driven airport transfers
What does price inelastic demand mean for niche products?
What does price inelastic demand mean for niche products?
Price changes have small effects on demand
Why does Billabong use specialist retailers not supermarkets?
Why does Billabong use specialist retailers not supermarkets?
To maintain its specialist brand image
What is the main advantage of niche marketing?
What is the main advantage of niche marketing?
Charging higher prices due to inelastic demand
What is a main disadvantage of niche marketing?
What is a main disadvantage of niche marketing?
Limited economies of scale