Marketing Opportunities

Marketing opportunities 1

Assessment 2

Part A – Multiple Choice

Answer the following multiple choice questions by circling the correct answer:

1. A business resource is

1. A marketing opportunity  
2. Anything a business uses to produce its products and services  
3. Includes the external environment  
4. All of the above  

1. A market development opportunity involves:

1. Current products and current markets  
2. New products and new markets  
3. Current products and new markets  
4. New products and current markets  

1. Having a competitive advantage represents

1. A strength of a business  
2. An opportunity of the business  
3. An improvement of the business  
4. A failure of the business  

1. The external environment includes

1. Staffing  
2. Political  
3. Capital  
4. All of the above  

1. The evaluation of an idea can include

1. Calculating ROI  
2. Determining the payback  
3. Comparing past and present sales  
4. All of the above  

1. A marketing strategy comprises the target market and

1. Product, place, price, promotion  
2. Product, price, promotion, power  
3. Product, position, perfection, promotion  
4. Product, place, people, political  

1. Brainstorming is used to

1. Generate ideas  
2. Evaluate ideas  
3. Assess ideas  
4. None of the above  

1. Return on investment is

1. Percentage return on capital invested  
2. The amount of time it takes to recover capital invested  
3. Net profit divided by Total sales  
4. Net profit divided by Total Expenses

9. The socio-cultural environment is made up of 

1. The economy strength of the market  
2. Laws and legislation  
3. Technological needs  
4. Human factors  

10. The internal environment includes

1. Staffing  
2. Products  
3. Capital  
4. All of the above  

11. A niche market is when

1. Your business is competing with a large amount of competitors  
2. Your business is the only one of its kind  
3. You provide products and services at a low cost to consumers  
4. Consumers choose your business because it is known for great quality  

12. An opportunity is anything

1. That needs improvement  
2. Your business does better than competitors  
3. Business can take advantage of  
4. All of the above  

Part B – Written or Oral Questions

1. Why is it important to develop marketing opportunities?  

A marketing opportunity is a need, want or trend that a business can take advantage of. It is important that businesses can identify and take advantage of opportunities to reach its objectives. It is therefore important for businesses to take active steps to develop marketing opportunities so that they can increase their business and reach their objectives.