business revision

1.when does promotion not involve adverstising?
-after sales service
-divrect mail
-branding
-packaging
-public relations
-personal selling
-price reduction
-sponsorship
-trade fairs
-demonstrations
-merchandising
2.why do companies have loss leaders?
Loss leaders means price less than cost.
They make it to consumers want to go to their shops for buying this product and also buy another products.
3.give 5 factors affecting demand for the product?
-taste and fashion
-income
-price of product
-substitute/complement
-advertising
6.if demand is elastic-what does this mean?
Demand is responsive
7.when exporting why might you use an agent?
-don't know their partners
-taste of consumers
-government policies
-language
8.why might it be hard for new companies to enter the market?
-market research needed
-monopoly existances/ oligopoly
-market size
-finance required