Unit 4 Topic 8

What are the 4Cs of marketing?

• Commodity, Cost, Communication, Channel

• Commodity, Cost, Confidence, Channel

• Commerce, Cost, Communication, Channel

• Communication, Cost, Channel, Creativity

What is known as the unique selling proposition of a brand?

• Ultimate selling proposition

• Unique service position

• Unique selling proposition

• Unified sales pitch

On what factor is the pricing of an insurance policy based primarily?

• Demand

• Risk

• Cost

• Coverage

What is essential for people to buy a product, regardless of its quality?

• They know about it

• They know it is cheap

• They understand it is useful

• They have tried it before

Identify a perceived disadvantage of online banking.

• High transaction fees

• Limited physical branches

• Security concerns

• Inconvenient hours

One of the 3Ps of services is:

• provider

• people

• personal

• production

Within the retail banking sector, each provider is competing:

• more on price and less on product

• more on product and less on price

• on product and price evenly

• less on product and more on service

The final stage of successful advertising is:

• the customer continues to buy

• the customer is convinced to buy

• the customer buys

• the customer reviews the product

An example of a loss leader is:

• a children's savings account

• a credit card

• a cash ISA

• a student loan

What is the approach called that focuses on the product rather than the customer in keeping and finding customers?

• Relationship selling

• Personal selling

• Transactional selling

• Direct selling