MAY 2015 Marketing Third

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  • Created by: Mulenga
  • Created on: 07-05-18 19:06

1. There are many areas of external influences that affect pricing decisions. Which of the following is NOT one of these areas of external influences?

  • b) Competitors
  • c) Demand and price elasticity
  • d) Organisational objectives
  • a) Legal and regulatory factors
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Other questions in this quiz

2. “Price” enables the organisation to achieve which of the following outcomes?

  • b) Profit
  • a) Revenue streams
  • d) All of the above
  • c) Demand management

3. A consumer changing or twisting information when it is inconsistent with personal feelings or beliefs is known as _____________.

  • a) Selective exposure
  • d) Selective attention
  • b) Selective distortion
  • c) Selective retention

4. 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

5. Laws are passed to define and prevent unfair competition primarily because ________.

  • Businesses sometimes try to neutralise threatening firms
  • c) Business executives tend to favour pure monopolies
  • a) Governments in free market economies tend to nationalise ailing firms
  • b) Private lobbying hurts the interests of national and state governments

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