How the finance function interacts with sales and marketing

Marketing is mainly concerned with which of the following?

• Increasing sales revenue

• Streamlining production

• Anticipating and meeting customer needs

• Maximising profit

Сompanies with high costs will find it difficult to compete on the basis of price and would be well advised to:

• compete on the Internet

• develop brand loyalty amongst customers

• employ high pressure sales techniques

• develop new products

Undifferentiated marketing involves an organisation in offering:

• products based on market research

• a single product to the market as a whole

• multiple products to the market as a whole

• single products to segmented markets

Segmentation involves identifying target markets that must be:

• measurable, accessible and substantial

• acceptable, feasible and suitable

• undeveloped, undiscovered and undifferentiated

• aligned to core competences

Which of the following phrases explains concentrated marketing?

• The company produces one product for a number of different market segments

• The company introduces several versions of the product aimed at several market segments

• The company produces one product for a mass market

• The company produces one product for a one segment of the marketplace

M Ltd are in the process of designing a new product to fit with the rapidly changing environment. Which THREE of the following are activities that M may undertake during the first three stages of product development?

• Interviewing customers to determine what they want

• Analysing social media to gain an insight into customer tastes

• Testing the product to ensure it is durable

• Using computer aided design (CAD) to build a prototype

• Ensuring the product is released ahead of the competition