WorksheetsRevision quiz
Total questions: 34
Worksheet time: 27mins
promotion, product, place, and?
persuasion
population
price
people
a bracelet sells for $1. what is this an example of?
product
place
people
price
a target market is who you want to sell to.
true
false
joint venture is when two businesses join together to start a project
true
false
Why do some new companies set their selling prices as low as they can?
To eliminate all possible competition
To get market share as fast as possible
To earn a high return on investment
To quickly make a large profit
Setting the correct price depends on:
How much it costs to make
Colour of Product
Time of Year
Competitors Prices
BOGOF is an example of:
Promotional Pricing
Premium Pricing
Demand-orientated Pricing
Destroyer Pricing
Market Skimming Pricing
Charging a high price for a new iPhone is an example of
Promotional Pricing
Premium Pricing
Demand-orientated Pricing
Destroyer Pricing
Market Skimming Pricing
How many P's are in the marketing mix?
5
6
4
3
Product refers to...
Where the product is sold
The good/service the consumer purchase
The price a consumer will pay for the product
The way a consumer is made aware of the product
A station across the street is offering gasoline for five cents cheaper per gallon. The other stations in the area decide to lower their prices as well. This is an example of ___________ pricing.
inflexible
unrealistic
competitive
realistic
Why is obtaining, maintaining, or increasing market share important to a business?
A large market share insures large profits.
Customers are interested in a firm's market shares.
Market share serves as a measure of the success of a business.
Market share must constantly increase for the business to succeed.
When companies increase the quality of materials used in the production of their products, their prices will tend to be
reduced.
the same.
higher.
lower.
Term for a item that is intentionally priced below cost to draw people into the store
Loser Item
Sale
Discount Item
Loss Leader
Which of the following is NOT considered a goal of pricing?
to earn a profit
to increase awareness of new products
to gain market share
to "beat" the competition
Which of the following is when a customer purchases the same brand over and over again?
brand loyalty
product loyalty
product value
brand value
What type of discount is used to encourage early payment?
employee discout
cash discount
seasonal discount
holiday discount
Which pricing strategy is where you add a percentage onto what you originally pay for the product?
Value pricing
Cost plus pricing
Value for money pricing
Which of the following is not a type of production?
Primary
Secondary
man-made
Tertiary
Which of the follow does not belong?
Advertising
Sales relations
Public relations
Personal selling
________ gives factual information about a product. It informs potential customers about the benefits and where the product can be found.
Persuasive advertising
Informative advertising
Comparative advertising
Reminder advertising
What is the second stage in the product life cycle?
Introduction
Maturity
Growth
Decline
There are _____ forms of advertisement.
2
3
4
5
