Influcences and Changes (AQA A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
How many Ps are in the extended marketing mix that businesses must consider?
How many Ps are in the extended marketing mix that businesses must consider?
Seven Ps
Which P of the marketing mix is especially relevant to service industries?
Which P of the marketing mix is especially relevant to service industries?
Process
How many elements should you focus on when answering exam questions about the marketing mix?
How many elements should you focus on when answering exam questions about the marketing mix?
The two most important elements
What can businesses with strong profit levels afford in the short term?
What can businesses with strong profit levels afford in the short term?
Reduced prices significantly
How does healthy cash flow help expand distribution outlets?
How does healthy cash flow help expand distribution outlets?
By extending favourable trade credit
Why does an insurance firm typically spend heavily on advertising?
Why does an insurance firm typically spend heavily on advertising?
Insurance is intangible
What do convenience goods require in their marketing mix?
What do convenience goods require in their marketing mix?
Wide distribution & competitive prices
What is the pricing strategy called when products have initially high prices to recover R&D costs?
What is the pricing strategy called when products have initially high prices to recover R&D costs?
Price skimming
What does primary market research help determine about pricing?
What does primary market research help determine about pricing?
Prices consumers willing to pay
What happened when hotels introduced pillow choice options?
What happened when hotels introduced pillow choice options?
It became an industry standard