Marketing
Which 3 segments are in a marketing plan?
Behavorial, geographical and demographics.
What is a benefit of being a entrepreneur?
What is a variable cost?
A cost that can change.
What is direct-to-consumer?
When a brand or manufacturer sells direct to consumers and the end users of their products, as opposed to selling to them solely through retailers.
What is economy pricing?
Prices that targeting customers looking to save as much money as possible.
What are 3 marketing platforms?
Social media, google ads, television.
Financial stability.
What is a fixed cost?
A cost that dosen't change.
What is B2B?
Businesses that sell to other businesses who are the intended end user of the product.
What is Bundle Pricing?
Pair several products together and selling them for less money than each would be individually
What is a target market?
Customers a company wants to sell it's product to.
What is a primary beneft of starting a new business without purchasing a franchise or buying an existing business?
Developing your own rules.
What is sucess?
Company is stable and profitable.
What is wholesale?
Selling products in bulk to various outlets or retailers for onward sale.
What is Market Penetration?
Setting prices low until after a reliable customer base is established, then raising prices.
Which two are ofine marketing platforms?
Tv ads, flyers and pamphlets.
Which three characteristics help identify a business opportunity?
Which two ways can customer service and support afect sales?
• more sales through customer evangelists
• increased sales to responsiveness and personalization
What is retail?
Selling products directly to end customers for a proft, either in-store, online, mail-order, or by phone.
What is Price Skimming?
Setting high prices when a product is introduced and then gradually lowering the price.
Which two documents summarize the business plan of a company?
Lean canvas and pitch deck.
What is Entrepreneurship?
Setting up a business with the aim to make profit.
Which two are benefts of equity funding?
- Investors do not get paid if the business does not make a proft.
- Can be used to raise working capital.
Which two types of Sales Channels sell primarily to other businesses?
B2B AND WHOLESALE
What is Premium Pricing?
High quality products marketed to high-income individuals