General Marketing Quiz

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1. Which of the following can one become confused with meaning repeat purchases?

  • Consistent use of same supplier
  • When consumers come back for more of the product
  • Passive purchasing
  • Loyalty card usage
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2. What is the definition of demand?

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

3. True or False: the definition of market myopia is the futuristic theory of market failure?

  • False
  • True

4. 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

5. What is a risk of adding value?

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

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