“The range of products/services that is sold/produced by a business”is the definition of?
product
product range
product portfolio
marketing mix
YED=% change in quantity demanded / % change in __________
Construct a supply and demand curve when consumer income increased
Disadvantage of mass market are
Less competition
High levels of compeition
Lower profit margins
Possibility of charging premium prices
The disadvantages of CPP are
simple and quick way
Does not take into account the actions of competitors
gurantee of a profit
Difficult to accurately calculate total costs of producing a product
The disadvantages of Ethical sourcing are
Costly
May not be a primary objective as the business may be more concerned with its USP
Build the reputation of a business
May lead to improved employee motivation
The definition of "Entrepreneur" is a person who sets up in business and takes __________ to generate a profit
Factors that are likely to affect the demand are
Prices of substitutes
Changes in trends and fashions
Demographics
Government subsidies
Benefits of market segmentation are
Market a wider range of goods to different customer groups
Avoid wasting promotional resources
Focusing on specific market segments allows the business to tailor products to meet the particular needs of customers
May increase the costs of the business
One benefit of test marketing is
May delay the launch of the product
Gather feedback and make changes to the products
Cost can be expensive
May run the risk of competitors learning about their products which may be copied and brought to the market earlier
Benefits of external recruitment are
Bring new and fresh ideas to the business
Can choose from a wider pool of applicants
Motivate staff
Know more about the capabilities of the candidate
"Qualitative research" is a market research collected relating to the ________ (+复数) and beliefs of consumers
Benefits of "Primary Research" are
Cheaper and quicker
Expensive
Collect data about customer needs
Gather feedbacks about a product/service
Which of the following answers will be reasonable anlysis for "Financial incentives can motivate the workers."
Hence, the business may have more market share
This may improve the productivity of the business.
So the employees can produce more products/provide better services to customers.
Therefore, customer loyalty may increase and they may repeat purchase of the products/services.
Which of the following may NOT be the drawbacks of "Boston Matrix"?
It is a simplistic model and very difficult to predict the life of the product due to changing of the market.
It does not take account of competitors’actions
It is only a snapshot of the current product portfolio.
It can be used to analyse the current portfolio of products to help with future strategies and growth.
The definition of "Online retailing" is "The sale of goods and service by using the _______"
The benefit of "cost efficiency" are
Lower operational costs
Higher productivity
Increase customer loyalty
Increased profit margins
Benefits of adding value are
charge a higher price
use for product differentiation
protect business from competition
focus more closely on target market segment
How many points can be gained for the definition of "distribution channels": The route taken by a product from its customers to a producer.
0
1
2
I don't know.
Which of the following is NOT a benefits of strong branding?
Increased customer loyalty
Ability to charge premium price
Help recognition of the product
Exploiting a unique selling point
Which of the following are the benefits of "face-to-face interview"?
Provide new and specific data for the business about its products/services.
The interviewer can clarify any queries the consumers have and keep the respondent on track to completion.
Allow the business to determine the potential success of its products.
Only a small fraction of customer base and may not be representative.
请对以下的Knowledge和Anlysis进行匹配
The number of the respondents are limited.
This may lead to biased/inaccurate results
The business can create more products to the market
This may help the business maintain the competitiveness in the market
Increase the customer loyalty
They may repeat purchase the products/services.
The employees may feel valued.
This may result in higher employee morale
More competitors may enter the market.
This may lead to saturation of the market which means some businesses may struggle to compete