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Any from of communication a business or organisation uses to inform, persuade, or remind.
The number of different product lines a manufactures or sells
The process of creating, growing, and manufacturing
THE 4 P's - product, place, promotion, price
USP stands for:
Unique Sale Position
Unique Sale Proposition
Unique Selling Proposition
Untitled Sales Promotion
The process of dividing a market of potential customers into groups based on different characteristics is called
The term "Demographics" refers to
Grouping potential customers based on their beliefs and preferences
Grouping potential customers based on whether or not they have purchased a product in the past
Grouping potential customers using statistical data such as age, race and gender
Grouping potential customers based on where they live
Which of these is NOT a Demographic characteristic, or a statistical way of grouping people?
Segmenting a market based on customers' attitudes, opinions, and interests is called
Which of these answer includes ONLY examples of psychographics?
Interests, opinions, attitudes
Household income, beliefs, race
Age, geographical location, gender
Ethnicity, age, hobbies
When a business divides its market on the basis of where its customers live is called
Segmenting a market based on customers' buying habits is an example of
Targeting a group of potential consumers using psychographic characteristics might include using data about
Rapid increase in sales, cash flow problems, competitors attracted to the market is characteristic of which stage of the business life cycle?
Challenges include new competitors, not getting too comfortable in the market and giving control over to reliable staff.
The correct order of the business life cycle is
post-maturity, post-maturity, establishment, growth
maturity, post-maturity, establishment, growth
establishment, maturity, growth, post-maturity
establishment, growth, maturity, post-maturity
A strategy to meet the cash flow challenges at the Growth stage could include developing an effective credit policy
The price skimming consists of setting high prices and reducing them over time to maximize the long-term profit.
A clothing store puts all its products at 50% discount, due to the change of season. This is an example of:
Which pricing strategy involves setting prices based on the costs for producing, distributing and selling the product plus a fair rate of return for its effort and risk?
Customer Value-Based Pricing
Which pricing strategy involves setting prices based on competitors’ strategies, costs, prices and market offerings?
Customer Value-Based Pricing
Term for a item that is intentionally priced below cost to draw people into the store
What is the Pricing strategy being used when people think they are getting a bargain because price ends in an odd number?
Mark Up Mark Up
Suggestive selling and group sales is a type of
Promotional message about a product paid for by an identified sponsor
Specific offer designed to increase sales
The name, logo, tone, tagline, typeface, and shape that create an appeal for a business
Successful organisations learn the preferences and behaviors of key customer segments through this process
choosing only one target market
setting a price everyone can afford
Type of promotion that encourages a consumer to be a repeat buyer of a product, service or brand.
a name brand or logo
A reader board
________ buy from wholesalers and sell to consumers.
What is a group of people who want a product and are able to buy it?