IB Diploma Programme (DP) - SL & HL · Business management

4.2 Marketing planning: Practice Questions

5 multiple-choice questions marked as you go, and 4 written questions with worked solutions. All on 4.2 Marketing planning.

9 questions22 marksFree, no account

Question 1

1 mark

Which of the following is most likely to be defined as a niche market?

Question 2

1 mark

Which of the following best explains why market segmentation is a critical component of marketing planning for a business with limited financial resources?

Question 3

1 mark

A firm is analyzing a positioning map (market map) for its luxury watch brand. The y-axis represents Price and the x-axis represents Quality. If the firm identifies a 'gap in the market' in the bottom-right quadrant, what does this represent?

Question 4

1 mark

In the context of marketing planning, which element of the marketing mix is specifically concerned with the methods used to inform and persuade customers to purchase a product?

Question 5

1 mark

Which of the following elements is typically found in a formal marketing plan?

Question 6

2 marks

In the context of marketing planning, define the term niche marketing.

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Question 7

3 marks

In marketing planning, explain why a business might choose to target a niche market rather than a mass market.

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Question 8

5 marks

In marketing planning, how does the marketing audit serve as a prerequisite for setting effective marketing objectives?

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Question 9

7 marks

A company identifies three distinct market segments based on demographic and psychographic factors: 'Budget Conscious Parents', 'Tech Enthusiast Professionals', and 'Health-Oriented Seniors'.

(a) Explain why a business would choose a differentiated marketing strategy over an undifferentiated one for these segments. [3]
(b) For the 'Health-Oriented Seniors' segment, recommend a specific strategy for two Ps of the marketing mix (one must be from the extended mix). [4]

Write your answer out first, then check it against the worked solution.

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