Business Unit 3 Quick Quiz AQA

Question 1 of 10

1

What the definition of a market?

Select one of the following:

A place where customers and sellers meet to purchase goods and services
A place where buyers and sellers meet to exchange good and services
A place where people got to buy items

Explanation

Question 2 of 10

1

Market mapping allows a business to identify any gaps or niches that are unfulfilled

Select one of the following:

True
False

Explanation

Question 3 of 10

1

Select from the dropdown lists to complete the text.

Test marketing is where a ( Person, Product, Device, Market ) or ( Device, Service, Website, Leaflet ) is launched in a geographical region to a ( Large, Small, Tiny, Microscopic ) number of people to check the ( Availability, Viability, Price, Specification ) of the product or service before committing. This reduces the ( Failure, Risk, Cost ) and can save the company money.

Explanation

Question 4 of 10

1

Select the two benefits of using ICT for market analysis below

Select one or more of the following:

Can be processed quickly
Too much information can result in slower decisions
The information is readily available

Explanation

Question 5 of 10

1

Extrapolation can help in predicting future sales using past data

Select one of the following:

True
False

Explanation

Question 6 of 10

1

Market penetration is when a business maintains its current market, but changes its product range.

Select one of the following:

True
False

Explanation

Question 7 of 10

1

Select the roles of a Human Resource Department

Select one or more of the following:

Sales & Marketing
Employee welfare
Workforce planning
Health & safety
R & D
Training
Ordering supplies

Explanation

Question 8 of 10

1

Soft HR treats employees as the most important resource in the business and a source of competitive advantages.

Select one of the following:

True
False

Explanation

Question 9 of 10

1

❌ is the name given by Ansoff to growth strategy where the business focuses on selling existing into ❌. With this strategy, the business is focusing on markets and products it knows well, which makes the strategy the least risky of the four options.

Market development is the name given to a growth strategy where the business seeks to sell its existing products into a ❌. There are many possible ways of approaching this strategy, including ❌ the product to another country or adding new distribution channels.

The most risky strategy in Ansoff's matrix is ❌, because the business is moving into new markets in which it has little or no experience.

Select option below to complete the highlighted text

Market Penetration

Market development

Product development

new markets

existing markets

future markets

new market

existing market

future market

importing

exporting

delivering

diversification

diversify

Explanation

Question 10 of 10

1

Label the areas of the Shamrock organisation - by Charles Hardy

Select correct option below corresponding to the highlighted orange point

Freelance

Flex Workers

Core Workers

	Created by Alex Charnell almost 10 years ago

A Level Business Quiz on Business Unit 3 Quick Quiz AQA, created by Alex Charnell on 12/04/2015.

Business Unit 3 Quick Quiz AQA

Question 1 of 10

What the definition of a market?

Select one of the following:

Explanation

Question 2 of 10

Market mapping allows a business to identify any gaps or niches that are unfulfilled

Select one of the following:

Explanation

Question 3 of 10

Select from the dropdown lists to complete the text.

Explanation

Question 4 of 10

Select the two benefits of using ICT for market analysis below

Select one or more of the following:

Explanation

Question 5 of 10

Extrapolation can help in predicting future sales using past data

Select one of the following:

Explanation

Question 6 of 10

Market penetration is when a business maintains its current market, but changes its product range.

Select one of the following:

Explanation

Question 7 of 10

Select the roles of a Human Resource Department

Select one or more of the following:

Explanation

Question 8 of 10

Soft HR treats employees as the most important resource in the business and a source of competitive advantages.

Select one of the following:

Explanation

Question 9 of 10

Select option below to complete the highlighted text

Explanation

Question 10 of 10

Label the areas of the Shamrock organisation - by Charles Hardy

Select correct option below corresponding to the highlighted orange point

Explanation