Roles and influences

Question 1

Types of markets

Answer 1

• Industrial
• Intermediate
• Resource
• Niche
• Market segment
• Mass

Question 2

Resource

Answer 2

• natural resources, production and sale of raw materials, eg. agriculture.

Question 3

Industrial

Answer 3

producers - using resources to create another product - Secondary and tertiary business’s.

Question 4

Intermediate markets

Answer 4

are wholesalers. Break down large quantities supplied by manufacturers and sell in smaller quantities.

Question 5

Mass markets

Answer 5

Products aimed at all consumers, known as undifferentiated marketing. Appeals to all consumers. Restricted to food, petrol elc

Question 6

Market Segment

Answer 6

Aimed at a focused portion. Eg Single gender schools, APIA over 50 year old insurance

Question 7

Niche Market

Answer 7

breaks a larger market segment into a smaller segment or micro segment.

Question 8

Environmental influences

Answer 8

Factors in which influence consumers.

Question 9

Consumer behaviors

Answer 9

Psychological factors
Socio-cultural factors.
Economical factors
Government

Question 10

The Australian Consumer Law

Answer 10

Promote fair trading and
competition/ consumer protections.

Question 11

Business situation

Answer 11

(Internal, External operating, External macro)