TSSA 11 Business Studies: Marketing
Operations UPDATED ACTUAL Exam
Questions and CORRECT Answers
Marketing - CORRECT ANSWER - activities a company undertakes to promote the
buying or selling of a product or service.
Distribution - CORRECT ANSWER - how the business gets its product to its customers.
Marketing communication - CORRECT ANSWER - involves how the product or service
is communicated to the target market.
Technology for marketing - CORRECT ANSWER - has changed the way businesses
convey their messages to potential customers. Internet advertising and social media advertising
increased the ability to promote products nationally and internationally at relatively low costs.
Cost - CORRECT ANSWER - an amount that must be paid or spent to buy or obtain
something.
Mark up - CORRECT ANSWER - the amount added to the cost price of goods to cover
overheads and profit.
Profit margin - CORRECT ANSWER - the portion of the selling price that is not allocated
to input costs/overheads and contributes to the gross profit margin of the business.
Penetration - CORRECT ANSWER - the selling of a company's products in a particular
market or area.
Oligopoly - CORRECT ANSWER - a state of limited competition in which a market is
shared by a small number of producers or sellers.
Operations UPDATED ACTUAL Exam
Questions and CORRECT Answers
Marketing - CORRECT ANSWER - activities a company undertakes to promote the
buying or selling of a product or service.
Distribution - CORRECT ANSWER - how the business gets its product to its customers.
Marketing communication - CORRECT ANSWER - involves how the product or service
is communicated to the target market.
Technology for marketing - CORRECT ANSWER - has changed the way businesses
convey their messages to potential customers. Internet advertising and social media advertising
increased the ability to promote products nationally and internationally at relatively low costs.
Cost - CORRECT ANSWER - an amount that must be paid or spent to buy or obtain
something.
Mark up - CORRECT ANSWER - the amount added to the cost price of goods to cover
overheads and profit.
Profit margin - CORRECT ANSWER - the portion of the selling price that is not allocated
to input costs/overheads and contributes to the gross profit margin of the business.
Penetration - CORRECT ANSWER - the selling of a company's products in a particular
market or area.
Oligopoly - CORRECT ANSWER - a state of limited competition in which a market is
shared by a small number of producers or sellers.
