What is an advantage of mass markets?

Theme 1 Edexcel Business

Quiz
•
Business
•
12th Grade
•
Medium
Paul Duerden
Used 9+ times
FREE Resource
100 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Can cater to specific customer needs.
Opportunities for innovation and growth.
Can achieve economies of scale.
Helps in better decision-making.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of niche markets?
Face high competition.
Have limited growth potential.
Requires continuous adaptation and investment.
Can lead to price wars and reduced profit margins.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What defines dynamic markets?
Markets that target a large audience with similar needs.
Markets that focus on a specific segment with unique needs.
Markets that are constantly evolving due to technological advancements, consumer preferences, and competitive pressures.
The influence of competitors on market dynamics, pricing, and consumer choices.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of competition?
Can achieve economies of scale.
Drives innovation and improves quality.
Can cater to specific customer needs.
Helps in better decision-making.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of risk in the context of risk and uncertainty?
The influence of competitors on market dynamics.
Markets that are constantly evolving.
Risk involves known probabilities of outcomes.
Can lead to price wars and reduced profit margins.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of risk and uncertainty in business?
It can lead to high-quality products.
It can impact business stability and planning.
It can increase customer satisfaction.
It can reduce costs.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the focus of product orientation?
Meeting customer needs and preferences.
Collecting new data directly from sources.
Product quality and innovation.
Analyzing existing data collected by others.
Create a free account and access millions of resources
Similar Resources on Quizizz
105 questions
Business Management 1 final

Quiz
•
9th - 12th Grade
101 questions
Capital Budgeting and Depreciation Concepts

Quiz
•
10th Grade - University
98 questions
entrepreneurship

Quiz
•
12th Grade
100 questions
Entrepreneurship Review

Quiz
•
9th - 12th Grade
100 questions
Entrepreneurship Final Review

Quiz
•
12th Grade
100 questions
Business Communication

Quiz
•
9th - 12th Grade
100 questions
DECA Business Management & Administration Practice Test

Quiz
•
9th - 12th Grade
100 questions
2024 Hospitality and Tourism Cluster Exam 1284

Quiz
•
12th Grade
Popular Resources on Quizizz
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade