1. Which of the following is not a stage in the product life cycle?
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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
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