N5 Marketing Revision

What are the 4 P's of the Marketing Mix

• Production, Promotion, Place and Price

• Product, Price, Place and Promotion

• Profit, Price, Production and Promotion

Which of the following is the term for information that is second hand that has already been collected by someone else

• Field Research

• Desk Research

Which of the following are examples of Field Research

• Hall Tests

• Postal Surveys

• Government publications e.g. statistics

• Telephone Interviews

Which of the following are disadvantages of Desk Research?

• May be out of date

• Expensive to collect

• Time Consuming

Which of the following Pricing Strategies describes when you take the cost of producing a good and add on a percentage of profit to arrive at the selling price?

• Cost-plus pricing

• Low pricing

• Promotional Pricing

• High pricing

Which of the following pricing strategies describes when the price of a product is lowered for a short period of time?

• Cost-plus pricing

• Loss leader

• Physiological Pricing

• Promotional Pricing

Which of the following pricing strategies describes when a product is priced at £4.99 rather than £5.00 to give the buyer the impression they are getting a good deal.

• Loss Leader

• Cost Plus Pricing

• Psychological Pricing

• High Pricing