Exam (elaborations)
Marketing - AQA A-level Business Studies Exam Practice Test
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- AQA A level business studies
- Institution
- AQA A Level Business Studies
Marketing - AQA A-level Business Studies Exam Practice Test
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Marketing - AQA A-level BusinessStudies Exam Practice Test
marketing - Answer>> maximise revenue in the most cost-
effective way
sales volume - Answer>> number of units sold
sales value - Answer>> Measures the financial worth of the
items sold
market size equation - Answer>> no. of units sold in market per
period x average selling price
market growth equation - Answer>> change in market
size/original market size x 100
sales growth - Answer>> rate of sales growth per period
market share equation - Answer>> sales of this product/total
market sales x 100
market research - Answer>> involves gathering and analysing
data relevant to the marketing process
primary market research - Answer>> data collected first hand
for a specific research process
secondary market research - Answer>> data that already exists
quantitative research - Answer>> concerned with data
, qualitative research - Answer>> based on opinions, attitudes,
beliefs and intent
sampling - Answer>> involves the gathering of data from a
sample of respondents, the result of which should be
representative of the target market as a whole
correlation - Answer>> looks at the strength of a relationship
between two variables
extrapolation - Answer>> uses trends established from
historical data to forecast the future
confidence level - Answer>> The probability that the research
findings are correct
confidence interval - Answer>> The possible range of outcomes
for a given confidence level
price elasticity of demand - Answer>> measures the extent to
which quantity demanded is affected by a change in price
PED equation - Answer>> % change in quantity demanded / %
change in price
income elasticity of demand - Answer>> a measure of how
much the quantity demanded is affected by a change in consumer
income
IED equation - Answer>> % change in quantity demanded / %
change in income
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