Revision marketing (business) A level

A benefit of online selling (e-commerce)

• customer can handle the product

• salesperson provides face to face advice

• open 24 hours a day , 7 days a week

• a high street presence

External shocks are a factor affecting :

• demand

• supply

• electricians

• plumbers

If demand is price elastic and you reduce the selling price then total revenue will.................. (one word)

Demand will shift to the right (on a graph) if a substitute becomes d.......................(one word)

Which of the following relates to qualitative market research ?

• large scale survey

• numerical data, statistics

• subjective opinions, attitudes

• closed questions

Demand increases by 10% when price is cut by 25% therefore

• demand is price elastic

• demand is price inelastic

• PED = -2.5

• YED = -0.4

Sales of inferior goods should increase during

• an economic boom

• a recession

• rapid economic growth

• a situation of rising incomes

Factors affecting demand : Tastes (trends), income, c............., substitutes

• cash cow

• condiments

• complements

• competition

Marketing mix = price, product, promotion and .............

• plaice

• place

• placement

• placemat

The unit cost of production will be .................when mass produced

• higher

• more

• increased

• lower