Answer to Question #332706 in Management for Lynn

Question

FILL IN THE BLANKS. Answer the following questions or complete the statements by writing the appropriate words(s) in the answer blanks. Erasures will be marked wrong.

1. refers to the functions and features of a good or service.

2. businesses that dominate the market can often dictate the price charged for a product. Other businesses follow this lead.

3. is a strategy to make the consumer aware of the existence of a product or service.

4. is often the case where there are many small firms competing against each other.

5. sales stabilize, less expenditure on promotion needed, revenue & profit should be high.

6. high costs but no sales.

7.The looks at the sales of a product over time.

8. is the means by which products and services get from producer to consumer and where they can be accessed by the consumer.

9. uses promotional media which the firm can control e.g., direct mail, sales promotions and sponsorship.