15 Questions
Which of the following is not one of the three objectives of pricing?
Maintain cost efficiency
What is market share?
The total industry sales for a certain product
Which pricing method is based on what the customer is willing to pay for a product?
Demand-oriented
What is the main purpose of breakeven analysis?
To determine the price necessary to cover all costs
What does it mean when a business is above the breakeven point?
It is making a profit
What is the primary goal of promotion in marketing?
To inform, persuade, or remind potential customers about goods and services
In advertising, what does a business do?
Pays money to influence people regarding their product
What are the three main forms of advertising?
Broadcast media, print media, and digital media
What is personal selling?
Involves direct communication between the salesperson and the customer
What are sales promotions primarily used for?
To incentivize people to buy a product
What does public relations involve?
The ongoing effort to foster positive relationships between an organization and various public groups
What is the main goal of integrated marketing communication?
To coordinate all promotional methods to send a consistent message to customers
In terms of the marketing mix, what does 'place' refer to?
Distribution
What does physical distribution involve?
Business functions used to move products through the channel to consumers
What is the path a product follows from producer to consumer called?
Channels of distribution
ICEV Marketing
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