Cambridge International AS Level · Business (9609)

The nature of marketing: Practice Questions

5 multiple-choice questions marked as you go, and 3 written questions with worked solutions. All on The nature of marketing.

8 questions19 marksFree, no account

Question 1

1 mark

Which of the following is the most accurate definition of market segmentation?

Question 2

1 mark

A clothing retailer uses loyalty card data to track the purchasing habits of its existing customers and then sends personalized discount vouchers to encourage repeat visits. This strategy is best described as an application of:

Question 3

1 mark

The diagram illustrates the market for luxury watches. If the cost of gold used in production increases while consumer demand remains unchanged, which of the following describes the most likely shift and the resulting change in equilibrium price?

Question 4

1 mark

Which of the following is a characteristic feature of a niche market?

Question 5

1 mark

Which of the following is a key characteristic of a product orientated business?

Question 6

5 marks

In a customer-oriented business, if the market share of a flagship product drops from \(25\%\) to \(18\%\) while its sales volume remains constant, what does this indicate about market growth and the competitive landscape?

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Question 7

4 marks

A startup company has decided to target a niche market for handmade, eco-friendly stationery.
a) Define the term niche marketing.
b) Explain one advantage and one disadvantage for a small business operating in a niche market compared to a mass market.
c) State one reason why a business might eventually decide to switch from niche marketing to mass marketing.

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Question 8

5 marks

Explain the difference between product orientation and customer (market) orientation. Evaluate the importance of a market-oriented approach for a business operating in the fast-moving consumer electronics industry.

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