Edexcel Theme 1 Marketing

Which of the following are Mc Donald's most important elements in its marketing mix?

Income Elasticity of Demand helps a firm respond to changes in the income level of the country

Which of following is NOT part of the original 4 Ps?

market mapping helps firms identify how other firms in the same market compete

What is meant by POSITIONING?

Firms A sales increase from £20 000 to £35 000. What is the growth rate?

A product has a YED of + 4, what would the impact of a rise in income be?

firm A sells 2000 cans of coke in a market where 40000 cans are sold. What is its market share?

Which of following is likely to increase a product's 'elasticity of demand'

Which model helps a firm assess competition

Which statement is incorrect

What is a niche market?

Innovation is the development of new products or features on existing products

What is meant by 'place' in the marketing mix

All firms compete on price

Which one of the following has created problems for many big firms?

What is the main influence on a firm's marketing mix?

Price Elasticity of Demand tells a firm if the price increase will cause a fall in demand

What is a B2B market?

A firm's new price is £30 after a 20% increase in price. What was the original price

The two main types of competing are on price or quality

A firms positioning describes how it competes

Price skimming is mostly used on innovative products

Targeting a niche market makes it easier to tailor the marketing mix