Month: August 2020

The product life cycle below shows sales of a product over time.

What is Phase 3 called?

Select ONE answer:

1. Growth
2. Decline
3. Maturity
4. Introduction

Show the workings to arrive at your answer, and explain and justify your reasons:

Amazon is a well known online retailer. It has grown by differentiating itself from its rivals and being highly competitive.

Which ONE of the following elements of the marketing mix does ONLINE represent?

Select ONE answer:

1. Price.
2. Product.
3. Promotion.
4. Place.

Show the workings to arrive at your answer, and explain and justify your reasons:

What are commodities?

Select ONE answer:

1. Information about opinions, judgements and attitudes
2. Goods or services sold to foreign buyers
3. Part of a market that contains a group of buyers with similar buying habits
4. Raw materials such as coal, oil, copper, iron ore and wheat

Show the workings to arrive at your answer, and explain and justify your reasons:

What is a market segment?

Select ONE answer:

1. Information about opinions, judgements and attitudes
2. Goods or services sold to foreign buyers
3. Part of a market that contains a group of buyers with similar buying habits
4. Raw materials such as coal, oil, copper, iron ore and wheat

Show the workings to arrive at your answer, and explain and justify your reasons:

What are exports?

Select ONE answer:

1. Information about opinions, judgements and attitudes
2. Goods or services sold to foreign buyers
3. Part of a market that contains a group of buyers with similar buying habits
4. Raw materials such as coal, oil, copper, iron ore and wheat

Show the workings to arrive at your answer, and explain and justify your reasons: