Types of Business
Guess that brand/company slogan
What would you do?
Principles of Marketing
Random Business Qs
100
A business owned and operated by one person
What is sole proprietorship
100
"America runs on..."
What is Dunkin
100
A former coworker applies for a job at your company. They frequently called out sick and were rude to customers and other employees. They ask you to be a reference. What do you do?
Say no to being a reference. Tell your boss/supervisor.
100
What are the four Ps of marketing?
Product
Price
Promotion
Place
100
The difference in a sole proprietorship and partnership
Sole proprietorship has one owner, and a partnership has two or more owners.
200
A business in which a franchisor sells to another person, called the franchisee, the rights to use the business name and to sell a product or service in a given territory
What is a franchise
200
“Breakfast of Champions”
What is Wheaties
200
One of your coworkers is posting other employees' personal information on social media, like their names and addresses. What do you do?
Screenshot the post. Tell your boss/supervisor. Report to HR.
200
How does Apple differ from its competitors?
Quality, brand recognition/many well-known products, service (Apple stores), etc.
200
Explain the relationship between a franchisor and a franchisee.
A franchisor sells the rights to operate a business establishment to the franchisee. The franchisee must operate the business according to the rules set by the franchisor.
300
A form of business organization in which two or more people own and operate the business together
What is a partnership
300
Expect more. Pay less.
What is Target
300
Your boss asks you to stay late to cover the shift of a coworker who called out sick. You have dinner plans with friends that evening. What do you do?
Tell your boss that you're unavailable, or tell them what time you can work until.
300
What are the four Ps (product, price, place, promotion) for Toyota Pruis's marketing strategy?
Product: Prius
Price: 25,000 est.
Place: Worldwide
Promotion: specific deals at dealerships
300
Why would someone choose to start a franchise business?
Franchise businesses generally already have a well-established reputation and have been proven successful.
400
A legal entity that exists independently of its owners and the owners are called shareholders
What is a corporation
400
"Here to help life go right"
What is state farm
400
Company policy bans the installation of non-company-approved apps and programs on company devices. You know of a program that could save the company money. You have used the app before and know it's safe to download. What do you do?
Talk to your boss/supervisor. Propose why you think the app would be helpful and explain how it works.
400
What are the four Ps (product, price, place, promotion) for McDonald's marketing strategy?
Product: Happy Meal
Price: less than 5 dollars
Place: In store/worldwide
Promotion: Star Trek Happy Meal
400
What are some factors that might encourage a business owner to shift from one form of ownership to another form of ownership?
Growth of company, population shifts, expansion opportunities, other market factors. (Student answers might vary slightly-use your own judgement here.)
500
A business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities.
Limited Liability Company or LLC
500
"Taste the rainbow"
What is Skittles
500
Your nursing home coworker gave a patient the wrong dosage of medication. This coworker has made three medication dosage errors this week. If you report your concern to a supervisor, your coworker may be fired. What do you do?
Report the incident to your supervisor.
500
What is the theory of marketing?
The belief that people buy a product or service to meet a need or because of a perceived benefit.
500
Why do you believe that there are so many sole proprietorships in America?
Sole proprietorships are the easiest form of business to start.