pt 4

Question 1

monopoly- competition

Answer 1

a situation in which a single company or group owns all or nearly all of the market

Question 2

oligopoly- competition

Answer 2

similar to a monopoly, except a few companies working together to limit or eliminate competition

Question 3

competition- competition

Answer 3

The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume varying elements of the marketing mix: place, promotion, product, distribution

Question 4

pure competition- competition

Answer 4

a market that has a broad range of competitors, who are selling the same products, often referred as perfect competition

Question 4

pure competition- competition

Answer 4

a market that has a broad range of competitiors who are selling the same products, referred as perfect

Question 5

break even point?

Answer 5

revenue equals expenses

Question 6

What are the 4 p’s in the marketing mix?

Answer 6

product, place, price, and promotion

Question 7

What are the 8 promotional mix?

Answer 7

• personal selling
• advertising
• public relations
• sales
• promotion
• sponsorship
• direct mail
• trade show

Question 8

How does the product life cycle go?

Answer 8

• Intro
• growth
• maturity - up sales
• decline - down sales but time has grown