Which of the following factors is considered when determining the price of a product by a manufacturer?
A. Quality of the goods B. After-sales services C. Stock turnover D. Channels of distribution Correct Answer: Option A – Quality of the goods
An element in a company’s economic environment is?
A. Personal lifestyle B. Family members C. Technological innovation D. Inflation rate Correct Answer: Option A – Personal lifestyle
At what stage in the buying-decision process does a consumer collect information about a product?
A. Need recognition stage B. Alternative search stage C. Post-purchase decision D. Purchase decision Correct Answer: Option A – Need recognition stage
In the consumer buying-decision process; an influencing factor that includes age and occupation is?
A. Personal factor B. Social factor C. Cultural factor D. Psychological factor Correct Answer: Option A – Personal factor
A market with many buyers compared to suppliers is an example of?
A. Government market B. Reseller market C. Consumer market D. Industrial market Correct Answer: Option C – Consumer marketProducts
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