Lesson 4.3.2
4.3.2 Global niche markets Quiz: Pearson Edexcel Business, Unit 4
20 questions
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Lesson 4.3.2, Global niche markets: 20 multiple choice questions for the Pearson Edexcel Business (9BS0), Unit 4: Global business, written with Revision Ninja.
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The 20 questions
-
Which phrase best defines a global niche market?
- Unregulated trade area
- Large mass market
- Small specialised segment
- Domestic monopoly group
-
When addressing cultural diversity globally, what must a business primarily consider?
- Universal languages
- Identical habits
- Differing values
- Uniform incomes
-
What pricing strategy is most commonly used in global niche markets?
- Cost-plus pricing
- Premium pricing
- Penetration pricing
- Predatory pricing
-
Selling specialised vegan sportswear across multiple countries is an example of what?
- Ethnocentric strategy
- Global mass market
- Global niche market
- Domestic market
-
Why can businesses operating in global niche markets charge higher prices?
- Inelastic demand
- Widespread competition
- Low transport costs
- High mass production
-
How do firms usually adapt products for specific global niche segments?
- Expanding mass appeal
- Tailoring unique features
- Standardising components
- Lowering overall quality
-
Which promotional channel is most effective for targeting a global niche market?
- Social media
- National newspapers
- TV broadcasting
- Billboard advertising
-
A global niche has 2 million potential customers. If 12% are willing to pay 40 each, what is the potential revenue?
- 960,000
- 24 million
- 9.6 million
- 0.96 million
-
Which factor should a business assess first when evaluating a potential global niche market?
- Market size
- Exchange rates
- Production costs
- Tax rates
-
What is a main disadvantage for a business operating in a global niche market?
- Limited sales volume
- High price sensitivity
- Low profit margins
- Intense direct competition
-
Which factor refers to different global consumer groups having distinct interests, tastes, and values?
- Cultural diversity
- Ethnocentric approach
- Trade protectionism
- Economies of scale
-
Which characteristic is typical of a product sold in a global niche market?
- Low unit price
- Mass production
- Wide market appeal
- High brand loyalty
-
A business launching a multilingual website with localized content is adapting which marketing element?
- Price
- Product
- Promotion
- Place
-
How might a niche firm adapt its product to suit lower purchasing power in a developing country?
- Premium packaging
- Higher minimum order
- Luxury bundling
- Smaller pack sizes
-
A premium product sells for 40 at home and 25 in a local market. By what percentage is the local price lower?
- 37.5%
- 25%
- 15%
- 62.5%
-
What is a risk of excessive product adaptation for a global niche brand?
- Lower product quality
- Reduced import tariffs
- Higher production costs
- Greater mass appeal
-
Which cultural factor directly influences product adaptation for food businesses expanding globally?
- Dietary customs
- Inflation rates
- Employment laws
- Interest rates
-
Why might a product be viewed as a luxury item in one country but ordinary in another?
- Shipping costs
- Cultural perceptions
- Trade quotas
- Currency deflation
-
A niche cosmetics brand uses local influencers in several countries. Which element of the marketing mix is this?
- Product
- Price
- Place
- Promotion
-
Why are global niche markets attractive to small enterprise firms?
- Zero transport costs
- Infinite market growth
- No legal regulation
- Less direct competition
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