Management Terms
A boss hires workers, sets budgets, and leads the team to help the store succeed. What process is the boss running?
What is Management
A business makes ads, designs products, and sets prices to attract customers. What overall activity is this?
What is Marketing?
Distribution channels, retail outlets, and e-commerce.
What is Place?
A clothing store targets customers based on age, gender, and income level. Which marketing segmentation is being used?
What is Demographic Segmentation?
A business decides how much to sell their new jacket to cover the cost of and to make a profit. Which core function is this?
What is Pricing?
A team sets a goal to sell 100 shirts this month and writes down the exact steps to do it successfully. What management step are they doing?
What is planning?
A store gets a bank loan to buy inventory and lets customers pay with monthly plans. Which business function is this?
What is Financing?
Retail price, discounts, credit terms, and value perception.
What is Price?
A company advertises heavy winter coats specifically to people living in cold northern states. What kind of segmentation is this?
What is Geographic Segmentation?
A company uses social media, posts commercials, and uses billboards to inform people of their new line of products. Which core function is this?
What is Promotion?
A manager assigns roles, divides up tasks, and gives employees the tools they need to work efficiently. What management step is this?
What is Organizing?
A business changes its products based on what customers say they actually want. What customer-first strategy is this?
What is Marketing Concept?
Advertising, social media, sales promotion, and PR.
What is Promotion?
A show brand groups customers by how often they buy sneakers and their brand loyalty. What type of segmentation is this?
What is Behavioral Segmentation?
A store figures out how to ship and deliver its products from the warehouse directly to a customer's home. Which core function is being used?
What is Channel Management?
The CEO makes big decisions and sets long-term goals for the whole company. What level of leadership is this?
What is an Executive?
A factory focuses only on making products as fast and cheap as possible, without asking customers what they like. What strategy is this?
What is Production-Oriented?
Features, quality, branding, and packaging.
What is a product?
A diaper brand targets ads directly towards first-time parents with newborns. What kind of segmentation is this?
What is demographic segmentation?
A firm creates surveys and holds focus groups to learn what customers like before designing a new product. Which core function is this?
What is Marketing Information Management?
A store manager takes rules from headquarters and passes them down to everyday employees. What role are they in?
What is a Middle Manager?
A farmer sorts apples by size and charges more for the biggest, best ones. Which functions are being used?
Grading & Valuing
Staffing, customer service, culture, employee training, and brand representatives.
What is People?
A business sells products to a customer who values outdoor adventures and healthy living choices. What kind of segmentation is this?
What is Psychographic Segmentation?
A salesperson talks directly with a customer to answer questions and convince them to buy a car. Which core function is this?
What is selling?