12 Questions
What type of demand does the text indicate Maxim coffee has?
inelastic
What type of pricing strategy is Bullhound using to put the rival Redhound out of business?
predatory pricing
Which type of marketing is the use of commercial marketing concepts and tools to influence individuals' behavior to improve their well-being and that of society?
Social
Which of the following is not a typical stage of the New Product Development (NPD) process?
repositioning
What does marketing research use to identify and define marketing opportunities and problems, generate, refine, and evaluate marketing actions, monitor marketing performance, and improve understanding of marketing as a process?
information
How do marketing researchers usually draw conclusions about large groups of consumers (population)?
sample
Which pricing strategy involves offering multiple services combined at a reduced price?
Bundle pricing
What pricing strategy involves introducing products at a high price initially and then offering discounts later?
Reference pricing
What type of marketing is exemplified by Oreo's 'you can still dunk in the dark' tweet during the Super Bowl power outage?
Real-time marketing
Which marketing channel raises environmental concerns?
Catalog marketing
What is the main purpose of causal research?
Test hypotheses about cause-and-effect relationships
Which method incorrectly views sales as the basis of advertising and not the outcome?
Percentage of sales method
Test your knowledge of business economics with questions on demand elasticity, pricing strategies, and marketing principles. From analyzing demand elasticity to identifying pricing strategies, this quiz covers essential concepts in business economics.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
