Marketing Terms
What are the four P's of marketing?
Product
Place
Promotion
Price
Which of the following business structures is the easiest to set up?
1. Corporation
2. Partnership
3. LLC
4. Sole Proprietorship
Sole Proprietorship
A _____________ focuses on main reason or purpose of the organization and serves as a road map on how to achieve future goals.
Mission statement
What is an sponsorship in marketing?
Payment of money or services in exchange for recognition
Who was the first president to live in the White House?
DAILY SPECIAL 1000 POINTS!!!
John Adams
What is another name for the Four P's of Marketing?
Marketing Mix
What are the four most common types of business structures?
1. Sole Proprietorship
2. Partnership
3. Corporation
4. LLC
A _____________ describes what the company / organization is trying to become in the future.
Vision statement
What are the different types of sponsorships that were covered in class?
Provide an example for each.
DAILY SPECIAL 1000 POINTS!!!
1. Product Exclusivity
2. Signage
3. Entitlement
What is the name of the company that owns Instagram?
Meta
What is a specific group of consumers at which a company aims its products and services is called a ____________
Target market / audience / consumer
This type of business structure is a legal entity separate from its owners and it can last for generations.
Corporation
If you wanted to look at external factors out of control of the business which may affect it, you would look at_________________
Opportunities and Threats
What is one benefit of Product Placement?
Provide an example for EXTRA 100 points!
Gives advertisers a way of reaching out to audience who skips commercials.
What brand's slogan is this?
Think different.
Apple
________________ full responsibility for all debts and actions of a business.
Unlimited liability
What is the biggest disadvantage of establishing a sole proprietorship?
DAILY SPECIAL 1000 POINTS!!!
The owner has unlimited liability.
If you wanted to look at internal factors that are within control of the business, you would look at __________
Strengths and Weaknesses
What is the association of a company’s name with the name of an event or facility in exchange for money or other considerations?
Entitlement
In the car industry, what does "BMW" stand for?
Bavarian Motors Works
___________________a participant in a partnership who has unlimited personal liability and takes full responsibility for managing the business.
General partner
Which of the following business structures is subject to double taxation?
1. Sole Proprietorship
2. Partnership
3. Corporation
4. LLC
Corporation
What is the purpose of a SWOT analysis?
Answers will vary.
Technique that enables a company (group) to move from everyday problem strategies to a fresh perspective by examining SWOT and coming up with new recommendations (solutions).
What is product exclusivity? Provide and example for full credit.
Answers will vary.
John Lennon is one of the four sacred members of what band?
The Beatles