Influences on Marketing

Question 1

Psychological factors

Answer 1

The personal characteristics of individuals that influence their behaviour. These factors relate to the way people think and their attitudes.

Question 2

Price discrimination

Answer 2

A business giving preference to some retailers by providing them with stock at lower prices than are offered to the retailers’ competitors.

Question 3

Implied warranty

Answer 3

Regardless of whether a product carries a warranty, a business must, by law, either refund a client’s money or offer an exchange of the good should the good be recognised to have been faulty at the time of leaving the store.

Question 4

Sugging

Answer 4

A disguised marketing process that uses general questions in a survey or questionnaire to determine the interests and needs of a consumer and then offers the consumer a product that the business believes caters to the consumer’s needs.