Economics
What is Microeconomics?
List the four "P's" of Marketing Mix and describe 2.
What is Product (a good or service the customer wants or needs)?
What is Price (determining what to charge customers for the good or service)?
What is Place (determining where and when to put the product to obtain the highest sales)?
What is Promotion (advertising the good or service to customers and potential business partner)?
What is personally communicating with the customer in order to help them purchase a product?
The Zip-N-Go Mobility Scooter company recently launched an advertising campaign for its model ZPZ scooter. One of the company's advertisements shows frail, feeble senior citizens riding the scooters at a rehabilitation center. What concept is the advertisement reinforcing?
What is age stereotype?
Businesses need to identify their markets in order to
improve their research methods.
control the costs of production.
reach goals and satisfy customers.
be sure to appeal to all consumers.
What is reach goals and satisfy customers (3)?
The aspect of economics regarding large-scale and large factors.
What is Macroeconomics?
What is something the customer can physically buy and use-ie; hamburger (goods)?
What is activities provided by other people that the customer cannot physically buy or hold-ie;massage (services)?
Define financing.
What is obtaining the money needed to start and operate a business?
Which of the following are examples of customer-related services that a business might consider when setting a product's price?
A). Research, Credit and Advertising
B). Delivery, Credit, and Advertising
C). Installation, Advertising, and Research
D). Credit, Delivery, and Installation
What is credit, delivery, and installation (D)?
When developing a computer-based presentation it is important to include what on each slide?
What is key points?
What economic resource is needed to operate a business?
Describe the MAIN goal of marketing.
What is satisfying customers?
You were just hired at PetSmart to be a cashier. Your job includes running the cash register and assisting customers with their needs. Which function is this an example of?
What is selling?
Sarah is speaking to a customer who is decisive, forceful, and in a hurry. Sarah should...
What is get to her point of communication quickly?
What marketing function helps businesses answer questions like, “Who are our customers?” and “Where are they located?”
What is marketing information management?
List the four types of economy.
What is command, market, traditional, and mixed?
Describe natural and capital resources.
What is resources created by nature (natural)?
What is resources created by people (capital)?
Annie has decided to mark up the cost of the newest bathing suit line she just ordered for her boutique by 50%. This is an example of the __________ marketing function
What is pricing?
When dealing with an angry customer, what process should you use to resolve the problem?
What is HEARD?
H- Hear
E- Empathsize
A- Apologize
R- Resolve
D- Diagnose
A company decides to spend $5,000 on new office furniture instead of putting that money toward the marketing budget. What is the opportunity cost of this decision?
What is lost benefits of additional marketing?
A depression is characterized by which of the following:
Fewer bankruptcies
Increased consumer spending
Rapidly rising GDP
High unemployment
What is high unemployment (D)?
What concept is illustrated in the following situation: A new business uses newspaper publicity and personal selling to attract customers and plans a special sales event to generate publicity for its grand opening.
What concept is illustrated in the following situation: A new business uses newspaper publicity and personal selling to attract customers and plans a special sales event to generate publicity for its grand opening.
What is promotion?
Town's residents have heard that this coming summer is predicted to be the hottest summer ever. The owner of an appliance store decided to do more advertising for air conditioning. What is the external factor that has affected Tom and his business?
What is demand?
Describe a barrier for business in the adoption of a quality culture.
Put the following guidelines for effective copy in proper order:
A). Study the information
B). Prepare an outline
C). Write the first draft
D). Collect information
E). Generate ideas
F).Obtain feedback and rewrite or refine copy G).Evaluate copy
What is D,A,E,C,G,F?