Terms & Plan
_____ steps are needed in order to successfully make a marketing plan
5
How many types of probing questions did we go over in class?
6
What is our main goal when handling customer complaints?
Making the customer happy.
What are the two types of records kept by business'?
Production and Financial Records
What color is used as a marketing strategy to envoke the feeling of happiness in customers?
Red
According to the Law of Demand, price and supply move...
In the opposite direction of each other
Rapport building questions help....
Understand buyers personality and communication style
What are two ways complaints can affect a company?
Less reputable, loss of workers, loss of customers, loss of sales
What type of records do inventory, depreciation sheets, balance sheets, incomes and expenses fall under?
Financial
What is the purpose of a proft-and-loss statement?
Shows how much the business has made or lost
What is the purpose of having a mission statement for you're company?
Establishes a long-term vision or goal for the company
What are the three rules for asking probing questions?
Listen actively, know when to ask questions, have the right attitude
What is the most important step in handling complaints to ensure the customer leaves happy?
EXCEED EXPECTATIONS
What is the purpose of a depreciation schedule?
Indicates the value lost on an item overtime.
What is equilibrium?
When consumer need and producer output are equal.
What are the 4 things that make up the marketing mix?
Price, Product, Place, Promotion
Give an example of a deep probing question.....
Can you be more specific? How did that affect you? What other aspects did it affect? What were you thinking of?
Name two reasons a customer would want to make a complaint...
Can't make everyone happy, Product does not work for intended used, Service is done poorly, Price is too high or not worth it, Employees are unprofessional
Give 2 examples of fixed assets that were discussed in class
Animals, Buildings, Machinery, Cars
What SAE allows the student to take FULL responsibility for all aspects of their project?
Owner/Entrepreneurship
What is step 5 in creating a marketing plan?
Budgets, Performance Analysis, and Implementation
Name the six types of probing questions mentioned in class....
Rapport building, Problem, Solution, Buying process, Budget and Deep probing questions
What are the 5 steps we went over to handle complaints?
Listen and understand, Apologize, Find a solution, Follow up with customer, EXCEED EXPECTATIONS!
How is net worth calculated on our profit-and-loss statement?
By subtracting total expenses from total incomes or receipts.
What is the purpose of production records?
Relate to the quantities of inputs and levels of production