1) In business, a consumer is a person who uses a product and may also buy it. a) True b) False c) Neither 2) E-commerce is any transaction that takes place through the internet. a) True b) False c) Neither 3) A gap in the market refers to a place in the market where there is a product with holes in it. a) True b) False 4) A gap in the market refers to a place in the market where there is demand for a product or service that is not currently being met. a) True b) False 5) Market research involves gathering data about a fruit market a) True b) False 6) Market research involves gathering data about customers, competitors and market trends. a) True b) False 7) What does the 'S' in STEEPLE stand for? a) Scientific b) Social c) Strengths d) Stock 8) What is a basic purpose of starting a business? a) To meet customer needs b) To compete c) To employ staff d) To go bankrupt 9) What pricing strategy involves charging a high price for products to portray a high value? a) Contribution pricing b) Cost-plus pricing c) Penetration pricing d) Premium pricing 10) Which of the following is not a type of promotion? a) Billboards b) Television ads c) Social media d) Packaging 11) What do the 3 E's stand for in STEEPLE? a) Economic, Environmental, Ethical b) Enterprise, Exports, Economic c) Ethical, Effectiveness, Engagement 12) Which pricing strategy involves changing your price from time to time to suit demands? a) Penetration pricing b) Premium pricing c) Price skimming d) Dynamic pricing 13) How many activities are in the PSA a) 4 b) 3 c) 2 d) 5 14) Which is a type of promotion? a) Entrepreneurship b) Packaging c) Product placement 15) What is not included as part of a marketing campaign? a) Marketing budget b) Promotional methods c) Aims and objectives d) Break-even point 16) Which is not part of the 4Ps? a) Packaging b) Price c) Place d) Product 17) A target market is a group of people with similar interests who a particular product is aimed at. a) True b) False 18) Market segmentation involves designing promotional materials for a campaign a) True b) False 19) Which is the last stage of the product life cycle? a) Introduction b) Growth c) Maturity d) Decline 20) A slogan is a memorable image associated with a brand. a) True b) False 21) A slogan is a memorable catchphrase associated with a brand. a) True b) False

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