Business & Its Context
This is an organization that strives for a profit by providing goods and services desired by its customers
A business
The attitudes, values, and standards of behaviors that distinguish one organization from another
Corporate culture
Name one major focus of the marketing team
Finding out the needs and wants of consumers
Providing goods and services that meet or exceed the consumers' expectations
Generating sales for the business
Apple's 2030 Plan to make every Apple product carbon neutral is an example of which of the 4 types of plans used in Management?
Strategic
Name the main difference between a good and a service
Goods are tangible
Services are intangible
Name the 4 functions of Management
Planning
Organizing
Leading
Controlling
This is a specific group of consumers to direct marketing efforts
Target market
To boost sales, Nerds Gummy Clusters used Super Bowl commercials in 2024 and 2025, which is an example of which marketing strategy?
Promotion strategy
Money received for providing goods and services is defined as what?
Revenue
The regular pattern of behavior that characterizes a leader
Leadership Style
This is defined as the ratio of benefits for the customer to the sacrifice necessary to obtain those benefits
Customer value
To boost sales, Mike and Ike candy changed the colors of their product packaging and posted a merchandise giveaway on Instagram. Which two types of marketing strategies were utilized?
Product
Promotion
This is measured by the general level of human happiness based on life expectancy, educational standards, health, sanitation, and leisure time
Quality of life
With this type of leadership style, a manager is directive and allows very little input from subordinates
Autocratic
A good/service/idea with perceived attributes and benefits that creates value for the customer is defined as what in Marketing?
A product
Toyota implemented a system on their automobile assembly line which will stop the line if a problem is not corrected in a pre-set timeframe. This is an example of which Management function?
Controlling
This is measured by the output of goods and services people can buy with the money they have
Standard of living
With this type of leadership style, a manager will ultimately make their own decision but will first ask for suggestions from the team
Consultative
Name all five Ps used by marketers to develop a product/service
Product
Price
Place (aka Distribution)
Promotion
People
In developing Enterprise, National, and Alamo brands, Enterprise Mobility used this marketing skill defined as separating, identifying, and evaluating the layers of a market
Segmenting the market