Other questions in this quiz

2. What is the definition of demand?

  • The level of consumer interest in purchasing a product or service
  • None of the following
  • The strength of which a product or service is wanted
  • The level of consumer interest in purchasing a product

3. What is a benefit of phycological pricing?

  • Ethical brand image will entail
  • High profit margin levels can be attained
  • Improve the chances of consumer loyalty
  • Profit increase is guaranteed

4. What is a risk of adding value?

  • Competition may follow suit
  • Profit margins can fall as a result
  • Decisive measures i.e. pumping air can be unethical and sued for
  • The cost of the good can go over the price

5. What is a benefit of marketing business to business?

  • Longer term, more consistent purchases
  • Able to utilise cheaper below the line promotion
  • All of the following
  • Less behavioural and tastes factors to impact demand
  • Less resources being spent on packaging designs

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Marketing and competitive environments resources »