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Marketing Exam Practice Paper 1

Features of Markets: Location, Size, Share, Competitors, Growth✍🏽

SECTION A:   (a) 2 mark PAPER 1

(a) Define the term ‘customer (market) orientation’. [2]

Niche Versus Mass Marketing ✍🏽

SECTION A:   (b) 3 mark PAPER 1

(b) Explain two limitations of niche marketing. [3]

Market Segmentation ✍🏽

SECTION A:   (a) 2 mark (b) 3 mark PAPER 1

 (a) Define the term ‘market segmentation’. [2]

(b) Briefly explain two reasons why a business might segment its market [3]

Primary and Secondary Research ✍🏽

SECTION A:  (b) 3 mark PAPER 1

(b) Explain two advantages to a business of using primary (field) market research data. [3]

Sampling Methods ✍🏽

SECTION A:   (a) 2 mark (b) 3 mark PAPER 1

 (a) Define the term ‘random sampling’. [2]

(b) Briefly explain two benefits to a business of using quota sampling as a method of collecting data. [3]

Types of Pricing Strategies ✍🏽

SECTION A:   (a) 2 mark (b) 3 mark PAPER 1

(a) Define the term ‘price discrimination’. [2]

(b) Explain two disadvantages to a business of using price discrimination. [3]

Price Elasticity of Demand ✍🏽

SECTION A:   (a) 2 mark (b) 3 mark PAPER 1

(a) Define the term ‘price elasticity of demand’. [2]

(b) Briefly explain two reasons why price elasticity of demand might be useful to a business when making pricing decisions. [3]

Consistency in the Marketing Mix ✍🏽

SECTION B:   20 mark PAPER 1

(b) Discuss the likely impact on the marketing mix of a bank that decides to make increasing use of the Internet to provide its services. [20]

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