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Year 08 Term 3 2023-2024 Business Studies Midterm Exams

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Question 1
1.

What is the definition of a product in marketing?

Question 2
2.

Explain the difference between a good and a service.

Question 3
3.

Branding is the process of giving a product a unique identity.

Question 4
4.

Which of the following is an example of product differentiation?

Question 5
5.

Match the term with its definition:

Product Life Cycle
Product Mix
Branding
The stages a product goes through from introduction to decline
The variety of products a company sells
The unique name, term, symbol, or design that identifies a product
Question 6
6.

Describe one advantage of having a strong brand.

Question 7
7.

Which stage of the product life cycle is characterized by rapid sales growth and increasing profits?

Question 8
8.

A product's packaging plays no role in its marketing.

Question 9
9.

Explain the concept of product positioning.

Question 10
10.

What is the primary purpose of product development?

Question 11
11.

Which pricing strategy involves setting a high price to attract customers looking for quality?

Question 12
12.

Define "penetration pricing."

Question 13
13.

Psychological pricing involves setting prices at a level perceived as more attractive, such as $9.99 instead of $10.

Question 14
14.

Which pricing strategy sets prices based on what competitors are charging?

Question 15
15.

Match the pricing strategy with its description:

Penetration Pricing
Skimming Pricing
Cost-plus Pricing
Setting a low price to gain market share quickly
Setting a high price initially and then lowering it over time
Adding a markup to the cost of producing a product
Question 16
16.

What is the purpose of using a loss leader pricing strategy?

Question 17
17.

Which of the following is a disadvantage of cost-plus pricing?

Question 18
18.

Dynamic pricing involves changing prices based on current market demand.

Question 19
19.

Explain what is meant by "price elasticity of demand."

Question 20
20.

Which pricing method sets prices based on customer perceptions of value?

Question 21
21.

What is the main purpose of market research?

Question 22
22.

Define "primary research."

Question 23
23.

Secondary research involves collecting new data directly from sources such as surveys or interviews.

Question 24
24.

Which of the following is an example of a primary research method?

Question 25
25.

Match the market research method with its characteristic:

Survey
Focus Group
Observation
A group discussion to gather opinions
Watching and recording consumer behavior
Asking questions to a large audience
Question 26
26.

What is one advantage of using secondary research?

Question 27
27.

Which sampling method involves selecting individuals who are easiest to reach?

Question 28
28.

Qualitative data is numerical and can be measured statistically.

Question 29
29.

Explain the difference between qualitative and quantitative data.

Question 30
30.

Which of the following tools is often used to analyze survey data?

Question 31
31.

What is internal communication?

Question 32
32.

Describe one benefit of effective internal communication.

Question 33
33.

External communication refers to the exchange of information within an organization.

Question 34
34.

Which of the following is an example of external communication?

Question 35
35.

Match the communication type with its example:

Verbal Communication
Written Communication
Non-verbal Communication
A handshake
An email
A phone call
Question 36
36.

What is the role of feedback in communication?

Question 37
37.

Which of the following barriers can affect effective communication?

Question 38
38.

Face-to-face communication is generally more effective for complex or sensitive information.

Question 39
39.

Explain one advantage of using digital communication methods.

Question 40
40.

Which method of communication is best for providing detailed instructions?