Exam code: 7131
Statement 1: ‘Market mapping is often used to calculate the market share of a business.’
Statement 2: ‘Market mapping shows the geographical location of a business on a map.’
Read statements 1 and 2 and select the correct option from the following:
Statement 1 is true. Statement 2 is true.
Statement 1 is true. Statement 2 is false.
Statement 1 is false. Statement 2 is true.
Statement 1 is false. Statement 2 is false.
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A business is creating a new product. The business has produced a market map of rival products which is seen below.
Analyse how using this market map of rival products might affect the positioning of the new product.
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A business’s target market is based on young people who frequently visit gyms. This business is using which of the following types of market segmentation?
Behavioural and demographic
Behavioural and income
Demographic and geographic
Income and demographic
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Read the source in the Insert.
Explain one drawback to VeganLife Ltd of operating in a growing niche market.
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Read the case study in the insert booklet.
G-Free Ltd only supplies the niche market of gluten-free food. To what extent do you think this is a risky decision?
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