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HSC Business Studies - Marketing

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  • What are THREE features of a product?
    Packaging, Labelling, Design, Brand, Quality, Guarentee
  • 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
  • What are TWO pricing strategies?
    Skimming, Price Penetration, Loss Leader, Price Points
  • 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)Implied conditions
  • What is deceptive Advertising?
    Advertising that is banned by legislation.
  • Give an example of a special promotion.
    Coupon, premium, refund, sample, display
  • What are the TWO economic influences on marketing?
    Boom, recession
  • What is a loss leader?
    A product that is sold below cost price.
  • What are the 4 Ps?
    Price, Product, Promotion, PLace
  • What type of market would a large scale manufacturer of pasta purchase flour for its products? a)Consumer b)Industrial c)Mass d)Resource
    b)Industrial
  • What is sugging?
    Marketing disguised as as survey
  • Name TWO factors that influence consumer choice
    Governement, Psychological, Sociocutral, Economic
  • What are THREE pricing methods?
    cost-based, market-based, competition based
  • What is market share?
    A part of a total industry
  • Who are four participants in the distribution channal?
    Producer, Cnsumer, Wholesaler, Retailer
  • What are TWO common segmentation variables?
    Demographic, Geographic, Psychographic, Behavioural
  • 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
  • What are the 3 extra P's?
    People, Processes, Physical Evidence
  • Describe a logo for a major company.
    EG - Nike - Swoosh, Qantas - Kangaroo, Golden Arches - MacDonalds etc
  • What are the FOUR stages of product lifecycle?
    Introduction, Growth, Maturity, Decline
  • What are THREE motives that influence customer choice?
    Comfort, HEalth, Saftey, Ambition, Taste, Pleasure, Fear, Amusement, Cleanliness
  • What are the FOUR components of SWOT?
    Strenght, Weakness, Opportunity, Threat
  • What are THREE elements of geographic segmentation?
    region, urban, suburban, rurl, climate, city size, landforms
  • 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
  • Name TWO types of advertising.
    TV, Newspaper, Catalogues, Telemarketing, Emarketing, Social Media, Billboards
  • Name ONE type of market
    Resource, Industrial, Intermediate, Consumer, Niche, Mass
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