Research & Audit
Is finding out the price customers are willing to pay an example of primary or secondary research?
Primary
Specific
What does CTA stand for?
Call To Action.
What is the difference between cashflow forecast and actual?
Forecast predicts all sales and costs, while actual shows what actually happened in the carry out phase.
The Maaori Business Concept that means being guardians of the land (environmental sustainability)
Kaitiakitanga
What does PESTEL Analysis help us research?
The political, economic, social, technological, environmental and legal trends that affect an industry and the businesses within it.
What does CSR stand for?
Corporate Social Responsibility
Cost-plus, premium and willingness to pay are examples of what?
Pricing strategies
Fixed costs / (selling price - variable costs)
Herzberg's theory of motivation includes Motivation Factors and ____ Factors
Hygiene
What does SWOT analysis help us identify?
The external opportunities and threats to our business, and the internal strengths and weaknesses
Why is this goal not "SMART"?
I aim to achieve level 2 credits by the end of this term through my SBUS and SENG classes.
It is not Measurable
Direct distribution and in-direct distribution are examples of which P?
Place
What does CVP stand for?
Cost Volume Profit Analysis
Useful in planning promotional material; what does AIDA stand for?
Attention, Interest, Desire, Action
What do we use Porter's 5 Forces for?
Competitor Analysis; looking specifically at the competitive rivalry, threat of substitutes, threat of new entrants, buyer power and supplier power
What are the four strategies in the Ansoff Matrix?
Market Penetration, Market Development, Product Development, Diversification
Our 4ps are designed to focus on our target market. What are the 3 characteristics of the target market defined by?
Demographics
(Geographics, can be part of demo)
Spychographics
Behaviour
If revenue is $500 and COGS are $200; my ______ is 60%
Profit Margin
The purpose of consultation is to...
Inform your business decisions, help your business grow and adapt, help you demonstrate innovation
Using Porter's 5 Forces, how would you describe the threat of substitutes in the cafe industry?
There are many, such as energy drinks at convenience stores, or homemade alternatives bought from the supermarket.
What are the stages of the Customer Journey?
Awareness, Consideration, Purchase, Experience, Loyalty, Advocacy
The three parts of Product are?
Core
Actual
Augmented
If I sell double scoop ice cream cones for $5, $2 covers variable costs and $3 covers fixed costs and profits. What is the term we use to describe the $3?
Contribution Margin
What is the definition of "conversions" in digital marketing?
Specific, high-value actions completed by a user that align with campaign goals (e.g. newsletter sign-up, checkout purchase, resource download).