- Created by: Mulenga
- Created on: 07-05-18 19:06
1. A message showing a product’s quality, economy, value, or performance is an example of a(n) ___________ appeal.
- c) Standard
- b) Structural
- a) Rational
- d) Emotional
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Other questions in this quiz
2. There are many areas of external influences that affect pricing decisions. Which of the following is NOT one of these areas of external influences?
- a) Legal and regulatory factors
- b) Competitors
- d) Organisational objectives
- c) Demand and price elasticity
3. In Porter’s Five Forces competitive model, which of the following relates directly to the power of the consumer?
- a) Power of suppliers
- b) Power of distributers
- c) Ability to substitute
- d) Threat of competitor market entry
4. Price elasticity of demand is represented by ________ divided by ________.
- a) Percentage change in units supplied; percentage change in price
- b) Fixed costs; variable costs
- d) Percentage change in quantity demanded; percentage change in price
- c) Percentage change in price; percentage change in quantity demanded
5. Which of the following is true of strategic planning in a firm?
- a) Strategic planning involves the formulation of supporting objectives for business units based on the company's mission statement
- c) Strategic planning deals with maintaining the company's current business ventures
- d) Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment
- b) Strategic planning occurs at the business-unit, product, and market levels rather than a company-wide level