3649603
Description
Quiz by diane.ellison42, updated more than 1 year ago
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Created by Shubhansh Bharati
about 9 years ago
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Copied by diane.ellison42
about 9 years ago
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Question 1
Question
What is cost-plus pricing?
Answer
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Estimating how many of the product will be produced, then calculating the total cost or producing this output and finally adding a percentage mark-up for profit.
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Used when trying to enter a new market.
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When the product is usually a new invention, or a new development of an old product, and therefore it can be sold on the market at a high price and people will pay this high price because of the novelty factor.
Question 2
Question
Market share is the ratio of money a company has compared to its competitors in a market.
Answer
- True
- False
Question 3
Question
Which of these are different types of promotion?
Answer
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Gifts
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Television
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Competitons
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Billboards
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Price reductions
Question 4
Question
At what point does market saturation occur?
Answer
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At the point the curve starts to rise.
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At the point where the curve is leveled out.
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At the point where the curve starts to decline.
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It doesn't.
Question 5
Question
"SWOT" stands for Strengths, Weakness, Output, Threats.
Answer
- True
- False
Question 6
Question
Which of these are products?
Answer
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Clothes
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Food
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Public park
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Company insurance
Question 7
Question
What is marketing?
Answer
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Advertising, promotion, and selling.
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Identifying consumer wants, anticipates their future wants and then goes about satisfying them profitably.
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To find the total cost of production and then calculate the cost per unit to make that cost per unit plus a percentage the price of the unit.
Question 8
Question
A steep demand curve of a product means that the product has an inelastic demand curve.
Answer
- True
- False
Question 9
Question
A market that is a small, usually specialised, segment of a much larger market is called a...
Answer
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Mass market.
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Niche market.
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Money market.
Question 10
Question
What are the four "P"s of the marketing mix?
Answer
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Price
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Packaging
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Promotion
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Place
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Product
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Production
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