A customer returns a chainsaw to the place of purchase as it does not cut branches. On what basis must the business refund the cost of the chainsaw?
a)Implied conditions
b)Ethical considerations
c)accuracy in advertising
A bakery produces organis bread that is sold in health food stores. Which is the most appropriate channel choice for this product?
a)Exclusive
b)Extensive
c)Intensive
d)Selective
d)Selective
Why might a business adopt a standardised global approach to marketing?
a) To minimise risk hedging
b)To increase market segmentation
c)To take advantage of economies of scale
c)To take advantage of economies of scale
Who are four participants in the distribution channal?
Producer, Cnsumer, Wholesaler, Retailer
Which approach is being used when a business creates a focus group to evaluate a product?
a)Marketing
b)Production
c)Selling
d)Standardisation
a)Marketing
What are the 4 Ps?
Price, Product, Promotion, PLace
What is sugging?
Marketing disguised as as survey
Name TWO types of advertising.
TV, Newspaper, Catalogues, Telemarketing, Emarketing, Social Media, Billboards
What are THREE pricing methods?
cost-based, market-based, competition based
Give an example of a special promotion.
Coupon, premium, refund, sample, display
Name ONE type of market
Resource, Industrial, Intermediate, Consumer, Niche, Mass
What is a loss leader?
A product that is sold below cost price.
What is market share?
A part of a total industry
Name TWO factors that influence consumer choice
Governement, Psychological, Sociocutral, Economic
What are the FOUR stages of product lifecycle?
Introduction, Growth, Maturity, Decline
What are THREE motives that influence customer choice?