Cam Business A level (Uyên)

What is the primary focus of a market-oriented business?

• Internal production processes
• Creativity and innovation
• Meeting customer needs and wants
• Maximizing profit margins

Which of the following is an example of a product-oriented business?

• Walmart
• Zara
• Apple
• Netflix

What is the formula for calculating market share?

• (Firm’s sales revenue / Total industry’s sales revenue) × 100
• (Total industry’s sales revenue / Firm’s sales revenue) × 100
• (Firm’s sales revenue × Total industry’s sales revenue) / 100
• (Firm’s sales revenue + Total industry’s sales revenue) × 100

What does a high market share indicate about a business?

• It has low brand loyalty
• It is a market leader
• It has minimal economies of scale
• It is a new entrant in the market

Which of the following is a benefit of market leadership?

• Reduced customer loyalty
• Lower economies of scale
• Better access to customer data and insights
• Increased sensitivity to price changes

What is the main risk of a product-oriented approach?

• High customer satisfaction
• Losing market share to competitors
• Increased market research costs
• Over-reliance on customer feedback

Which factor is most likely to influence a business to adopt a market orientation?

• High R&D budget
• Few competitors
• Minimal budget for R&D
• Strong market reputation

What is the primary goal of market growth strategies?

• Reducing production costs
• Increasing market share and sales revenue
• Minimizing customer feedback
• Decreasing market competition

Which of the following is an example of a market growth strategy?

• Downsizing
• Mergers and acquisitions
• Cost-cutting
• Reducing product range

What is the significance of market research in market orientation?

• It is unnecessary for product development
• It helps businesses understand customer needs and preferences
• It focuses on internal production processes
• It is only used by product-oriented businesses