Marketing
Product, Place, Price, Promotion
What do we call someone who starts and runs their own business?
Entrepreneur
What is revenue?
The total income a business earns from sales before expenses
Who is typically responsible for setting goals and guiding employees in a business?
A manager
A system where shares of publicly held companies are bought and sold
What is a stock market?
What is a target market?
A specific group of consumers a business aims to reach
What is a business plan?
A written document describing a business’s goals, strategies, and operations
What is the difference between profit and revenue?
Profit is revenue minus expenses
What is a mission statement?
A brief description of an organization’s purpose and values
What does LLC stand for?
Limited Liability Company
What type of marketing uses influencers and social media platforms to promote products?
Digital marketing / Influencer marketing
What does venture capital refer to?
Funding from investors to start or grow high-risk, high-potential businesses
What is a budget used for?
Planning and controlling financial resources
What leadership style involves making decisions with little input from others?
Autocratic leadership
Joint Venture
What is the term for a business partnership where two or more companies work together on a specific project?
What is brand equity?
The value a brand adds to a product beyond its functional benefits
What is the term for the process of assessing whether a new product or business idea is likely to succeed?
Feasibility analysis
What does ROI stand for, and what does it measure?
Return on Investment, it measures how profitable an investment is
What is delegation in management?
Assigning responsibility and authority to others to complete tasks
What does SWOT analysis stand for?
Strengths, Weaknesses, Opportunities, Threats
What marketing strategy involves selling the same product in different countries with slight cultural adjustments?
Global marketing adaptation
What type of ownership gives a single person full control and unlimited liability?
Sole proprietorship
What are fixed costs and variable costs?
Fixed costs stay the same regardless of production variable costs change with output
What is the main difference between a manager and a leader?
Managers maintain systems and processes; leaders inspire and motivate people
What was the top performing stock in the S&P 500 for 2024?
Palantir