5250907
Description
Quiz by Amber Griffiths, updated more than 1 year ago
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Created by Amber Griffiths
over 8 years ago
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Question 1
Question
Why does a business create a unique selling point for a product?
Answer
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To make it look nicer
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To make it worth a higher price
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To gain a competitive advantage
Question 2
Question
What happens to a product when it reaches the maturity stage of the product life cycle?
Answer
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Sales revenue grows over time
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Sales revenue is constant over time
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Sales revenue declines over time
Question 3
Question
What is the main business use of an extension strategy?
Answer
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To launch a product
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To brand a product
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To increase sales of a product
Question 4
Question
The best place to sell a product is
Answer
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street corner
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shop
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garage
Question 5
Question
Which of the following best describes 'price'?
Answer
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The cost of selling items
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The amount customers are charged for items
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The revenue earned from selling items
Question 6
Question
When is price skimming used?
Answer
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To gain market share
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To make as large a profit as possible
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To cover costs and breakeven
Question 7
Question
What is the best pricing method for a well known firm selling a new hi-tech, high quality mobile phone model most likely to be?
Answer
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Penetration pricing
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Price skimming
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Cost plus pricing
Question 8
Question
In the marketing mix, what does the term 'place' refer to?
Answer
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Retail outlets such as shops
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Online shops
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Anywhere products are made available to customers
Question 9
Question
Which of the following most accurately describes promotion activity?
Answer
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Using advertising to sell products
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Using advertising and other methods to sell products
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Products being made available to customers
Question 10
Question
Which of the following is NOT part of the promotional mix?
Answer
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Advertising
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Personal selling
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Price
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