Marketing Planning 2

What is likely to happen to demand for normal goods if government increases the minimum wage?

• Increase

• Decrease

What is likely to happen to demand for inferior good if government increases the minimum wage?

• Increase

• Decrease

What happen to elastic good price if there is increasing in price?

• Decrease

• Increase

What would happen to demand for a close substitute, if firms A puts the price up of A by 10%

• Decrease

• Increase

What would happen to demand for a complementary good if Firm A puts the price up of A by 10%?

• Decrease

• Increase

What would happen to price inelastic good if the price is decreasing?

• Increase

• Decrease

All new product innovations must start with an initial idea. Ideas for new products can come from a variety of source, such as :

• Business annalist

• Finance Annalist

• Market Research

• Product free sample

Predicting future sales levels and sales trends is called...

• Sales force composite

• Sales Forecasting

• sales revenue

• Sales evaluation

This method of analysis is based entirely on past sale data

• Jury of experts

• Time series analysis

• Delphi method

• Moving averages

 $\frac{\%\ change\ in\ demand\ for\ the\ product}{\%\ change\ in\ promotional\ spending}\ =\ ?$  

• Prmotional elasticity of demand

• Cross elasticity of demand

• Income elasticity of demand