Business BTEC unit 2 Exam Questions with Verified Answers Latest Update 2025 Already Passed
Anticipating Demand - Answers looking at latest trends to anticipate demand on sales.
Recognising demand - Answers keeping up to date with competitors and recognising demand for
products/services and trends in consumer behaviour
Stimulating Demand - Answers advertising and promotion, special offers
Satisfying demand - Answers ensuring correct price, product and stock availability
Understanding customer wants and needs - Answers marketers need to differentiate between needs
and wants in order to promote their products
Increasing market share - Answers When a firm seeks to maximise its percentage share of a market in
terms of sales value or number of units sold.
Diversification - Answers a strategy of increasing sales by introducing new products into new markets
Brand awareness - Answers Measures how many consumers in a market are familiar with the brand and
what it stands for; created through repeated exposures of the various brand elements (brand name,
logo, symbol, character, packaging, or slogan) in the firm's communications to consumers.
Brand loyalty - Answers consistent preference for one brand over all others
Mass market - Answers all possible customers in a market, regardless of the differences in their specific
needs and wants
Niche market - Answers a relatively small market with specialised need.
Market Segmentation - Answers the process of dividing a market into meaningful, relatively similar, and
identifiable segments or groups
Brand personality - Answers set of traits people attribute to a product as if it were a person
Primary research - Answers research done firsthand for the first time
Secondary research - Answers past research which has already been performed and often already
published
Validity - Answers the extent to which a test measures or predicts what it is supposed to
Reliability - Answers the extent to which a test gives consistent results
Quantitative data - Answers numerical data
Qualitative data - Answers descriptive data
Anticipating Demand - Answers looking at latest trends to anticipate demand on sales.
Recognising demand - Answers keeping up to date with competitors and recognising demand for
products/services and trends in consumer behaviour
Stimulating Demand - Answers advertising and promotion, special offers
Satisfying demand - Answers ensuring correct price, product and stock availability
Understanding customer wants and needs - Answers marketers need to differentiate between needs
and wants in order to promote their products
Increasing market share - Answers When a firm seeks to maximise its percentage share of a market in
terms of sales value or number of units sold.
Diversification - Answers a strategy of increasing sales by introducing new products into new markets
Brand awareness - Answers Measures how many consumers in a market are familiar with the brand and
what it stands for; created through repeated exposures of the various brand elements (brand name,
logo, symbol, character, packaging, or slogan) in the firm's communications to consumers.
Brand loyalty - Answers consistent preference for one brand over all others
Mass market - Answers all possible customers in a market, regardless of the differences in their specific
needs and wants
Niche market - Answers a relatively small market with specialised need.
Market Segmentation - Answers the process of dividing a market into meaningful, relatively similar, and
identifiable segments or groups
Brand personality - Answers set of traits people attribute to a product as if it were a person
Primary research - Answers research done firsthand for the first time
Secondary research - Answers past research which has already been performed and often already
published
Validity - Answers the extent to which a test measures or predicts what it is supposed to
Reliability - Answers the extent to which a test gives consistent results
Quantitative data - Answers numerical data
Qualitative data - Answers descriptive data
