A way of extending the life of the product could be using extension strategies. This could include:

Changing the colour of the packet.

There are many criticisms of marketing. A business who is considered to be Socially responsible would ensure that:

Advertisements are always truthful.

The term niche marketing refers to:

Marketing to a small group of people with similar characteristics.

Internal factors are those forces we have the most control over. This would include:

Managers using new techniques to encourage workers to sell more products.

Price skimming involves:

Setting prices high and then skimming the profits with high initial sales.

An aspect of the introductory phase of the product life cycle could include:

A low price to encourage people to try the item.

Examples of internal publics could include:

Employees, managers, and shareholders.

If a business wants to improve the process for a customer receiving their final goods, they could look at:

Answering the phone within 3 rings when a customer wants to place an order.

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VCE Business Management MARKETING A BUSINESS Revision

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Questions 25

Answers

1
Businesses must ensure that they are aware of consumers trends in order to:
To ensure that customers are a priority
To keep up with current fashion
To keep up with new trends
To remain competitive
2
The marketing term ‘product’ could include:
A tangible product you can physically touch.
A service.
Both A and B.
The total product concept.
3
The stage where there will be many competitors and sales will plateau is called the:
Maturity.
Introduction.
Decline.
Growth.
4
A way of extending the life of the product could be using extension strategies. This could include:
Changing the colour of the packet.
Increasing the price of the product.
Removing the product from sale.
Reducing the price of the product.
5
There are many criticisms of marketing. A business who is considered to be Socially responsible would ensure that:
Advertisements are always truthful.
All the advertising is done on radio rather than TV.
Ads are not designed to encourage people to buy things they don’t need.
There are no children used in advertisements.
6
Macro factors are those we have no control over. Which of the following could be considered a macro factor?
Both A and B
Employees going on strike over pay and conditions
Interest rates going up
Readers of a magazine not eating chocolate after an article said it was bad
7
‘BOGOF’ is a common promotional acronym. This stands for:
Buyers only get one form.
Buy one, get one free.
Buyers only get one free.
Buy one gift on finance.
8
The term niche marketing refers to:
Marketing to a small group of trendy people.
Marketing to a small group of people with similar characteristics.
Not a very popular product.
Marketing to a small group of people with different characteristics.
9
The purpose of customer loyalty programs is:
To allow the business the ability to collect data.
To gain free advertising.
Both B and C.
To ensure that customers are loyal and give repeat business.
10
John has purchased a new gym and wants new customers. He is considering the the physical evidence. This could include:
Updating the reception desk.
The music pumping out of the gym.
Painting new signage of the front door.
Both A and B.
11
Great customer service can be considered part of the 7Ps. It is important that customers are treated well because:
Poor customer service can damage a brand.
They can become return customers.
It can help customers purchase more, therefore increasing profits.
All of the above.
12
Internal factors are those forces we have the most control over. This would include:
Unions pushing for higher wages for their members.
Customers boycotting your shop after rat faeces was found in the food.
Managers using new techniques to encourage workers to sell more products.
A new law coming into force that forces you to open longer hours.
13
Price skimming involves:
Setting prices high and then skimming the profits when the price increases.
Setting prices high and then skimming the profits with high initial sales.
Setting the prices low and skimming the profits when the price drops.
Setting prices low and then skimming the profits with high sales.
14
An aspect of the introductory phase of the product life cycle could include:
A free gift with the purchase of the item.
A low price to see how many people like the item.
A low price to encourage people to try the item.
A free gift that is low in price.
15
Examples of internal publics could include:
Employees, employers, managers, and customers.
Employees, managers, and shareholders.
Employees, employers, managers, and competitors.
Employees, managers, shareholders, and the government.
16
If a business wants to improve the process for a customer receiving their final goods, they could look at:
Ensuring that the product is priced competitively.
Ensuring that the product is packaging in an appropriate way.
Answering the phone within 3 rings when a customer wants to place an order.
Making the product cheaper.
17
Reducing the number of outlets that sells a product is a sure sign that the product is in which stage of the life cycle:
Decline.
Introduction.
Maturity.
Growth.
18
Calculating purchasing frequency is an example of segmenting the market by:
Behavioural
Demographic
Geographic
Psychographic
19
Types of planned PR could include:
An advertisement on TV.
An advertisement on social media.
Sponsorship.
A free to air radio advertisement.
20
Looking good in front of your peers could be considered a ____________ factor that influences consumer behaviour.
Psychological
Cultural
Personal
Social
21
Green marketing is more than just claiming that a business is using recycling. It may also include:
Banning the use of plastic bags.
All of the above.
Charging customers for the use of plastic bags.
Encouraging customers to bring their own bags.
22
Competitors are likely to start entering the market for a product in which stage?
Decline.
Growth.
Maturity.
Introduction.
23
An example of secondary data would be:
Focus group
Shopping centre interview
Survey
ABS statistics
24
Which of the following could be considered part of the external operating environment:
Suppliers
Social factors
Technology
Legislation
25
An essential element of crisis communication is a crisis communication plan. This could include:
Informing the investors of a potential loss in income.
Telling people information that will make them feel better.
Giving updates every 48 hours.
Giving regular updates.

VCE Business Management MARKETING A BUSINESS Revision Flashcards | StudBud