What is market mapping used for?

Market Research and Positioning

Quiz
•
Business
•
11th Grade
•
Easy
Wesley Landsdale
Used 3+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identifying the price of a product
Identifying the position of a product within a market
Identifying the quality of a product
Identifying the cost of production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which brand is positioned as low price but not necessarily low quality on the market map?
New Look
ASOS
Matalan
Topshop
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What might the existence of a space on the market map indicate?
A saturated market
A market niche
High profits
Low competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one usefulness of market mapping?
It guarantees profitability.
It identifies market gaps for new product ideas.
It eliminates the need for research.
It provides a permanent market solution.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does market mapping help businesses compare?
Their products with those of rivals
Their profits with competitors
Their marketing strategies
Their employee satisfaction
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a reason why businesses conduct market research?
To identify and understand:
Employee needs
Shareholder needs
Customer needs
Manager needs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit to a start-up business of identifying and understanding customer needs?
Increased possibility of survival
Lower chance of breaking even
Customer demand for its products will be minimal
Increased risk of making costly mistakes
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