Challenges of the Market Environment (Grade 11 NSC Matric Business Studies): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is competition in the market environment?
What is competition in the market environment?
When businesses offer same goods/services
What happens when profit margins become too small due to competition?
What happens when profit margins become too small due to competition?
Some businesses may be forced to close
What is a major problem caused by shortage of suppliers?
What is a major problem caused by shortage of suppliers?
Businesses cannot produce enough goods
Which factors influence changes in consumer behaviour?
Which factors influence changes in consumer behaviour?
Economic conditions, fashion, social moves
What does demographics refer to?
What does demographics refer to?
Statistical info about a population
What does an ageing population increase demand for?
What does an ageing population increase demand for?
Healthcare and leisure services
What is a key challenge with psychographics?
What is a key challenge with psychographics?
Customer lifestyles change frequently
What do socio-cultural factors include?
What do socio-cultural factors include?
Language, customs, income, preferences
How does product differentiation help overcome competition?
How does product differentiation help overcome competition?
Creates unique goods competitors don't offer
What do value-added services include?
What do value-added services include?
Credit terms and loyalty programmes