A-Level Paper 2 Revision KEL Flashcards
1
Q
List 3 Types Of Consumer Goods
A
Convenience Goods
Specialty Goods
Shopping Goods
2
Q
What does NPD stand for?
A
New Product Development
3
Q
Name 3 Financial Methods Of Motivation
A
Wages
Salaries
Performance Related Pay
4
Q
What Are Economies Of Scope
A
When a firm gains a cost advantage as it grows, by diversifying its product range or from operating in different markets
5
Q
What’s Price Skimming?
A
Pricing Strategy that sets product price high then lowers it when competitors enter the market
6
Q
What does GDP stand for?
A
Gross Domestic Product
7
Q
metro7Ps of the Marketing Mix
A
product, pricing, place, promotion, physical evidence, people, processes
