Miscellaneous
This is the process of connecting different software systems so they can share data.
What is integration?
Age, gender, and education are all examples of this way of describing a target customer.
What are demographics?
This six-digit code identifies the industry in which a business operates and is used for contracting opportunities.
What is a NAICS code?
These costs change based on the amount a business produces or the number of customers it serves.
What are variable costs?
This is a quantifiable measure used to track, monitor, and assess the success or failure of a business process.
What is a metric?
This statement explains the value offered to customers, including the target customer, benefits delivered, and why they should buy from you instead of the competition.
What is a value proposition?
Owned, paid, and this third type make up the three categories of marketing media discussed in the program.
What is earned/organic media?
This one-page document tells a potential government or corporate buyer what your company can do and why it is qualified to perform a contract.
What is a capability statement?
This pricing strategy starts with the cost of producing and selling a product and adds a desired profit or markup.
What is cost-based pricing?
An ecommerce company notices that a shopper leaves products in their cart. Which metric could a company used to best track how often this occurs.
What is shopping cart abandonment rate?
Rent, permanent salaries, insurance, and machinery are examples of this category of business cost.
What are fixed costs?
Problem Recognition → Research → Evaluation → Purchase → Onboarding → Adoption → Renewal represents this process.
What is the customer journey?
A buyer knows exactly what it needs and primarily wants vendors to submit pricing information. The buyer will typically issue this type of solicitation.
What is an RFQ — Request for Quote?
This pricing approach focuses on the economic value or outcome created for the customer and the customer's willingness to pay.
What is value-based pricing?
This digital advertising metric measures the percentage of impressions that generate clicks.
What is Click-Through Rate, or CTR?
Unlike a native integration, this is a separate platform or service that connects multiple software systems and manages the flow of data between them.
What is middleware automation?
Values, interests, attitudes, and personality are characteristics used in this type of customer segmentation.
What are psychographics?
This company wins the contract directly from the buyer and is ultimately responsible for delivering the work.
What is the prime contractor?
A product sells for $25 and has a variable cost of $5. What is its unit contribution margin?
What is $20.
A company's monthly cash expenditures
What is burn rate?
A potential customer completes a website form. Their information is automatically added to the CRM and email system, triggering a welcome message. This is an example of automating this marketing activity.
What is lead capture?
A CRM identifies that a lead has reached a certain score and automatically places the customer into a segment that receives customized online advertising. This illustrates the combination of customer data, segmentation, and this marketing strategy.
What is targeted/personalized advertising?
A company completes a $100,000 contract today but will not receive payment for 60 days. This commonly used procurement payment term describes the arrangement.
What is Net 60?
A company has $50,000 in fixed costs and earns a $20 contribution margin per unit. How many units must it sell to break even?
What is 2,500 units?
How many months the company can continue operating before its cash runs out
What is runway?