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- 1. Multiple Choice
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
- 2. Multiple Choice
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
- 3. Multiple Choice
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%
- 4. Multiple Choice
In which of the following industries is new product development likely to be crucial for success?
Hairdressing
Consumers electronics
Furniture making
Shoes
- 5. Multiple Choice
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
- 6. Multiple Choice
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
- 7. Multiple Choice
Refer to segmentation of a market based on where people live
geographics
psycho graphics
demographics
consumer behaviour
- 8. Multiple Choice
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
- 9. Multiple Choice
How a business plans to achieve their objectives
Marketing Objectives
Marketing Audit
Marketing Strategies
Monitoring
- 10. Multiple Choice
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
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