151. Vertical integration forwards is when a firm mergers or acquires anotherÂ…
A. Towards the source of supply
B. Towards the consumer
C. At the same stage of the supply chain
D. In another industry

152. When does an acquisition take place?
A. Two equal partners decide to work together.
B. Two equal partners share resources.
C. Two unequal partners join together.
D. Two unequal partners become one after a buyout.

153. Of what is advertising a form?
A. Focusing strategy
B. Differentiation
C. Cost leadership
D. Growth

154. What is the term for the extent to which competition in one country is influenced by competition in other countries?
A. International trade
B. Global economics
C. Global competition
D. Globalisation

155. What do companies that focus on filling a gap in the market engage in?
A. Direct marketing
B. Traditional marketing
C. Niche marketing
D. Outbound marketing

156. What is not part of a marketing plan?
A. Marketing mix
B. Demand analysis
C. Government support
D. Competitor analysis

157. What is the term for a market that is defined by specific characteristics?
A. Market niche
B. Market division
C. Market characteristic
D. Market segment

158. Which of the following does not form the basis of a performance indicator for a marketing plan?
A. Competitor reaction
B. Contribution to business performance
C. Marketing effectiveness
D. Consumer reaction

159. What is the term for the development and design of value adding products and/or services to meet the demand characteristics of individual customers?
A. Customisation
B. Personalisation
C. Individualism
D. Bespoke

160. What do the four ‘P’s’ of marketing relate to?
A. Product, price, place and promotion
B. Product, price, press and promotion
C. Product, price, publicity and promotion
D. Product, price, post and promotion

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