A business that designs products based on what it is good at making, rather than market research, is said to be:
Mass marketing
Customer-focused
Product-oriented
Market-oriented
Dividing a market into groups of customers with similar characteristics is called:
Market segmentation
Mass marketing
Niche marketing
Product differentiation
Surveying existing customers about a new product idea is an example of:
Secondary research
Primary research
Desk research
Qualitative research only
Setting a very low initial price to gain rapid market share is known as:
Competitive pricing
Price skimming
Psychological pricing
Penetration pricing
In the Boston Matrix, a product with low market share in a high-growth market is called a:
Star
Cash cow
Question mark
Dog
The formula 'Output per period / Number of employees' measures:
Labour productivity
Added value
Capacity utilisation
Efficiency
Which production method is most suitable for producing standardized goods in large volumes?
Job production
Batch production
Mass customisation
Flow production
The main purpose of holding buffer inventory is to:
Get bulk purchase discounts
Impress customers
Prevent production from stopping due to stock-outs
Reduce warehouse costs
A key disadvantage of Just-in-Time (JIT) inventory management is:
High storage costs
Large amounts of capital tied up in stock
High vulnerability to supply chain disruptions
Increased risk of obsolescence
If a factory has a maximum output of 10,000 units per month but only produces 7,000, its capacity utilisation is:
143%
70%
7%
30%
Outsourcing the IT support function is likely to have which main benefit for a business?
Improves employee morale in the IT department
Allows the business to focus on its core activities
Always reduces long-term costs
Guarantees higher quality