Which of these products would not be suitable for digital distribution?
Computer software
Music
Laptop
What is a loss leader?
A leading brand that is currently making losses
The manager of a business who cannot use a satellite navigation system
An item that is sold below cost price to get customers into store
Which best defines an invention?
A completely new type of product that has not existed before
A redeveloped product that has numerous design improvements
An existing product that has been adapted for a new use
Which statement about the marketing mix is false?
The marketing mix of a business should be coherent
Each element of the marketing mix should not be influenced by other elements
Mixing the elements of the marketing mix well is more likely to lead to success
An ice cream shop allows customers to try a flavour free of charge. Which point of sale promotion is being used?
Competition
Free sample
Loss leader
What is 'place' concerned with?
How goods and services reach the customer
How high street shops are run
The design of E-commerce websites
During which stage of the product life cycle would you expect sales to be at their lowest?
Decline
Introduction
Maturity
Which of the following describes price skimming?
Charging a low price initially, and keeping it low to gain additional sales
Initially setting the selling price of a product low and raising it after a period of time
Setting a high selling price of a product initially and slowly lowering it over a period of time
A business sells £250,000 worths of products in a market where total sales are £1,500,000. What market share does the business have?
0.1667
0.6
0.25
Which of the following is a pricing strategy that would only be used for a short time period?
Cost-plus pricing
Promotional pricing
Competitor pricing