Pearson Edexcel International A Level · Business (YBS11)

Meeting customer needs: Practice Questions

5 multiple-choice questions marked as you go, and 5 written questions with worked solutions. All on Meeting customer needs.

10 questions27 marksFree, no account

Question 1

1 mark

Which of the following is a clear example of secondary market research?

Question 2

1 mark

A business operates in a highly dynamic market where consumer preferences change rapidly. Why might relying solely on historical secondary market research data be risky for this business?

Question 3

1 mark

What is the key strategic benefit a business gains from highly successful product differentiation, relating specifically to its commercial power within the market?

Question 4

1 mark

A business conducts market research by hosting a small group of potential customers to discuss their attitudes and opinions regarding a new product concept, focusing on gaining deep qualitative insights. Which method of primary market research is the business utilising?

Question 5

1 mark

When using market mapping, a business might identify a 'gap' in the market. Which of the following is the most likely reason why a 'gap' in a market map does not always represent a viable business opportunity?

Question 6

3 marks

State one key characteristic of a niche market and explain what competitive advantage a small firm might gain by operating exclusively in such a market.

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Question 7

4 marks

Explain the core difference between Product Orientation and Market Orientation, relating your answer to how a business identifies customer needs and wants.

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Question 8

5 marks

Define both risk and uncertainty in a business context. Explain why dynamic markets, characterised by rapid technological innovation and changing consumer tastes, typically involve higher levels of uncertainty rather than just risk.

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Question 9

4 marks

Define market segmentation and identify one category of market segmentation used by businesses to divide a broad consumer market into smaller, distinct groups.

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Question 10

6 marks

A new café chain, 'Bean & Brew', is planning to enter the highly competitive urban coffee market. Before launching, they conducted extensive market research, using both stratified sampling for qualitative interviews and large-scale questionnaires for quantitative data.

Part a) Analyse the potential benefits and drawbacks for Bean & Brew of using stratified sampling for their qualitative market research.

Part b) Discuss the importance of product differentiation (other than price) for Bean & Brew to achieve a competitive advantage in a mature market with many established rivals.

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