BTEC UNIT 9: PRINCIPLES OF MARKETING - LA C D1

What is a core product?

• A product with added features

• A basic product like a smartphone or computer

• A product with a high price

• A product with a unique design

What is a key characteristic of a successful product?

• It is expensive

• It is unique

• It meets customer needs

• It is heavily advertised

What is one option for businesses when a product becomes a novelty?

• Sell in new markets

• Increase the price

• Limit production

• Focus on local sales only

What is an example of a retro appeal strategy?

• BMW's Mini relaunch

• Apple's iPhone release

• Samsung's Galaxy series

• Sony's Walkman revival

What does Tesco's product portfolio include?

• Only food products

• Banking, insurance, and petrol

• Electronics and clothing

• Furniture and home decor

What is the primary consideration in cost-focused pricing?

• Customer preferences

• Material and time costs

• Market trends

• Brand reputation

According to the law of demand, what happens as prices fall?

• Sales decrease

• Sales increase

• Demand becomes inelastic

• Demand becomes elastic

What happens to demand for essential items when prices change?

• Demand increases significantly

• Demand decreases significantly

• Demand does not change much

• Demand becomes highly elastic

Who breaks down bulk quantities for retailers in indirect channels?

• Producers

• Consumers

• Wholesalers

• Retailers

What is one method to increase the chance of success for a video on social media?

• Use traditional advertising

• Appeal to the audience

• Limit the video length

• Avoid using links