LAA revision

• Business
• Upper Secondary (Key Stage 4)
• BTEC

LAA revision

What type of
marketing is this?

Which of these is not a type of advertising?

1. Television
2. Radio
3. Posters
4. Letter

Which of these are not demogragic

1. Gender
2. Location
3. Religion
4. Age

Define the term segmentation?

Which of these is the third stage in the product life cycle?

1. Decline
2. Growth
3. Introduction
4. Maturity

Which of these is not a pricing strategy?

1. Penetration
2. Premium
3. Cost percentage
4. Competitive

What are the 4P's?

What is meant by the term medium?

What is revenue?

1. Money the business has
2. Money coming into the business from sales
3. Money the business has after costs are deducted
4. Money the business owes to others

What is net profit?

1. Money after all expenses are deducted
2. Profit the business makes after cost of sales
3. Money the business gets from sales
4. Money the business spends

What is penetration pricing?

1. When you set the price high and reduce it later
2. When you set the price low and increase it later
3. When you set the price high
4. When you set the price similar to the competition

What are the 2 markets you can trade in?

A mass market is when....

A niche market is....

Advertising

Public relations

Direct marketing

Promotion

Give an example of a short distribution chain

Jenny has opened a local bakery who makes low cost fresh baked goods, how has she segmented the market?

1. Location
2. Location and income
3. Income
4. Age

Psychographic segmentation is segmentation based on...

1. Age, religion, income and gender
2. How often you buy a product or service
3. Lifestyle, values, beliefs and activities
4. Where you live

Behavioural segmentation is.....

1. how often you buy, use and loyalty to a product or service
2. The shops you choose to go and buy from
3. What day you go shopping on
4. how you use a product at home

The calculation for breakeven is

1. variable costs/(fixed costs-selling price)
2. Selling price/(fixed costs-variable costs)
3. Variable costs/fixed costs
4. Fixed costs/(Selling price - variable costs)

Select one example of a start up cost?

1. Salary
2. Till
3. Utilities
4. Rent

Which of the following is not a variable cost for a sandwich shop

1. Bread
2. Butter
3. Rent
4. Salad

A fixed cost is...

1. Something that changes every month
2. Something that stays the same every month
3. Something that you pay once
4. Something that is linked to the product

I make jumpers, per jumper: the wool is £5.00, buttons are £2.00 and ribbon is £0.50. My rent is £50 per week.
What are the variable costs per jumper

1. £7.00
2. £57.50
3. £5.00
4. £7.50

If my variable costs per jumper is £7.50 what is my cost of sales if I sell 10 jumpers?

1. £17.70
2. £7.50
3. £75.00
4. £0.00

What is another word for variable costs?

1. Directed costs
2. Direct costs
3. Indirect costs
4. Secure costs

What is another word for fixed costs?

1. Indirect costs
2. Directed costs
3. Unrelated costs
4. No costs

What is the calculation for Gross Profit?

What is the calculation for Net profit

define the term cost of sales?