Types of market - Correct Answer ✔✔ - Mass, niche and dynamic
n, n, n, n, n, n, n, n, n, n, n, n,
Market orientation - Correct Answer ✔✔ - The needs of the consumer placed at the centre
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Product orientation - Correct Answer ✔✔ - Emphasis placed on the production process and the product itself
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Quantitative market research - Correct Answer ✔✔ - Collection of numerical information n, n, n, n, n, n, n, n, n, n, n, n,
Qualitative market research - Correct Answer ✔✔ - Collection of information about attitudes, beliefs, etc.
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Factors affecting demand - Correct Answer ✔✔ - Price of complements / substitute goods
n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Consumer incomes n,
Fashions
Advertising
Demographics
Factors affecting supply - Correct Answer ✔✔ - Costs of production
n, n, n, n, n, n, n, n, n, n, n,
New technology n,
Indirect taxes n,
Subsidies
Factors influencing PED - Correct Answer ✔✔ - Time n, n, n, n, n, n, n, n, n,
Number of substitutes n, n,
Branding
% of income n, n,
Factors affecting YED - Correct Answer ✔✔ - Necessity vs luxury
n, n, n, n, n, n, n, n, n, n, n,
% of income n, n,
Business use of YED - Correct Answer ✔✔ - Planning production - goods with high YED fluctuate in demand
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
according to business cycle
n, n, n, n,
Business use of PED - Correct Answer ✔✔ - Predicting impact of price changes on revenue
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Design mix - Correct Answer ✔✔ - Function, cost, aesthetics
n, n, n, n, n, n, n, n, n, n,
Benefits of a strong brand - Correct Answer ✔✔ - Added value n, n, n, n, n, n, n, n, n, n, n, n,
Price inelastic demand n, n,
Barrier to entry n, n,
6 pricing strategies - Correct Answer ✔✔ - Cost plus
n, n, n, n, n, n, n, n, n, n,
Price skimming n,
Penetration
Predatory
Competitive
n, n, n, n, n, n, n, n, n, n, n, n,
Market orientation - Correct Answer ✔✔ - The needs of the consumer placed at the centre
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Product orientation - Correct Answer ✔✔ - Emphasis placed on the production process and the product itself
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Quantitative market research - Correct Answer ✔✔ - Collection of numerical information n, n, n, n, n, n, n, n, n, n, n, n,
Qualitative market research - Correct Answer ✔✔ - Collection of information about attitudes, beliefs, etc.
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Factors affecting demand - Correct Answer ✔✔ - Price of complements / substitute goods
n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Consumer incomes n,
Fashions
Advertising
Demographics
Factors affecting supply - Correct Answer ✔✔ - Costs of production
n, n, n, n, n, n, n, n, n, n, n,
New technology n,
Indirect taxes n,
Subsidies
Factors influencing PED - Correct Answer ✔✔ - Time n, n, n, n, n, n, n, n, n,
Number of substitutes n, n,
Branding
% of income n, n,
Factors affecting YED - Correct Answer ✔✔ - Necessity vs luxury
n, n, n, n, n, n, n, n, n, n, n,
% of income n, n,
Business use of YED - Correct Answer ✔✔ - Planning production - goods with high YED fluctuate in demand
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
according to business cycle
n, n, n, n,
Business use of PED - Correct Answer ✔✔ - Predicting impact of price changes on revenue
n, n, n, n, n, n, n, n, n, n, n, n, n, n, n, n,
Design mix - Correct Answer ✔✔ - Function, cost, aesthetics
n, n, n, n, n, n, n, n, n, n,
Benefits of a strong brand - Correct Answer ✔✔ - Added value n, n, n, n, n, n, n, n, n, n, n, n,
Price inelastic demand n, n,
Barrier to entry n, n,
6 pricing strategies - Correct Answer ✔✔ - Cost plus
n, n, n, n, n, n, n, n, n, n,
Price skimming n,
Penetration
Predatory
Competitive
