Marketing Planning

One of the reasons often given for marketing planning is:

• It guarantees future sales success

• It reduces the risk of making bad major strategic marketing

  decisions

• It is a legal requirement for public limited companies

• It is quick and easy to do so all businesses can afford to do it

A positive result for product’s promotional elasticity of demand

Suggests that:

• the product is likely to be an ‘inferior’ one

• spending more on promoting the product will always lead to

  Higher profit

• the sales of the product are likely to rise at a higher rate than

  Promotion spending on it

A business sale a product with an estimated income elasticity Of demand of -1.

Based on this data which one of the following statements is likely to be true?

• The business will increase output of the product when consumer Incomes are rising

• Sales of the product could increase despite an economic recession

• There is no point in spending any money on promoting this

  Product

• If the price is reduced by 10%, sales of the product are likely to Increase by 10%

In which of the following industries is new product development likely to be crucial for success?

• Hairdressing

• Consumers electronics

• Furniture making

• Shoes

One of the reason often given to explain why research and

development spending by a business might not lead to higher profits is:

• There are no new possible product developments

• Consumers are reluctant to buy the latest products

• Competitors might develop a better product

• R and D costs are so low that too many businesses are now

  developing new products

Which one of the following are the best explanation of the moving average method of sales forecasting?

• It uses market research to identify the fastest moving market

  changes

• By using qualitative methods, it avoids the need for any

  calculations

• By averaging future forecast it avoids the risk of unforeseen events making the sales prediction inaccurate

• By averaging past data the predicted trend of future sales

  is easier to identify

Refer to segmentation of a market based on where people live

• geographics

• psycho graphics

• demographics

• consumer behaviour

The four part of a SWOT analysis are

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, working capital, Opportunities, Target market

• Strengths, Weaknesses, Opportunities, Target market

• Strengths, Weekly report, Opportunities, Target market

How a business plans to achieve their objectives

• Marketing Objectives

• Marketing Audit

• Marketing Strategies

• Monitoring

A sales forecast helps you:

• Know if you're charging the right price

• Predict how much money you will make

• Plan for the future of your business

• All of the above