The Microenvironment Pt 2

Which of the following are examples of short-term financing?

• Overdrafts

• Suppliers’ credit (trade credit)

• Short-term loans

The aim of marketing is to:

• Retain customers

• Gain more customers

• Build and improve a brand

• Increase sales to generate more profit.

What does LSM stand for?

• Living Standards Measure

• Liver stiffness measurement

• Long Sweet Messages

• Lembaga Swadaya Masyarakat

Which of the following form part of the 4 Traditional Ps of marketing?

• Product

• Price

• Place

• Promotion

The PRODUCT includes the whole package sold by the business, which includes:

• The features of the product (design)

• Quality of the product

• Branding

• Packaging

• Sales and after-sales service

The Consumer Protection Act (CPA)...

• aims to promote and advance the social and economic welfare of consumers in South Africa.

• establishes a legal framework for a consumer market that is fair, accessible and sustainable for consumers.

• aims to improve consumer awareness and encouraging responsible and informed consumer choices and behaviour.

Which of the following are Fundamental consumer rights?

• all products must be clearly marked with the correct price. The quality of products must be of fair value and safe for human consumption.

• all contracts must be written in plain language so that it can be understood by customers

• consumers are allowed to return goods if they were not allowed to examine them before purchase.

Purchases made by the purchasing department include...

• Purchases for resale

• Purchase for conversion

• Purchase for own use

_________________ refers to the suitability of the product for its intended use.

Quality can be specified by the following:

• Trademarks

• Grading of agricultural products,

• Grading of agricultural products,

• ISO 9000