Responding to variation in economic conditions

What has contributed to Australia's economic growth over the past two decades?

• Decrease in research and development funding
• Increase in capital investment
• Increase in unemployment
• Decrease in mining investment

Why is gathering information from potential customers important in marketing campaigns?

• To improve efficiency and productivity
• To decrease capital investment
• To decrease market share
• To decrease marketing strategies

How do businesses adjust their marketing strategies to expand their market share?

• Decreasing capital investment
• Decreasing research and development funding
• Increasing marketing strategies
• Decreasing workforce upskilling

How do businesses respond to improving economic conditions?

• Decreasing research and development funding
• Decreasing workforce upskilling
• Decreasing capital investment
• Increasing marketing strategies

What factors have contributed to Australia's economic growth over the past two decades?

• Adjusting marketing strategies
• Government support
• Improving economic conditions
• Research and development activities

What is research and development?

• Activities undertaken to improve existing products or create new products
• Activities undertaken to decrease market share
• Activities undertaken to decrease capital investment
• Activities undertaken to decrease productivity

What are the factors that have contributed to Australia's economic growth over the past two decades?

• Decreased investment in infrastructure
• Direct funding for research and development
• Increased government regulations
• Decline in population

Why is research and development important for businesses?

• To reduce their marketing expenses
• To increase government regulations
• To improve existing products or create new products
• To decrease competition

What are the components of the marketing mix?

• Product, price, promotion, place, and execution
• Product, price, promotion, place, and elimination
• Product, price, promotion, place, and expansion
• Product, price, promotion, place, and evaluation

What is the process of adjusting product, price, promotion, place, and evaluation in marketing campaigns?

• Government support
• Market research
• Marketing mix
• Research and development