Project Management
What is project management?
The use of knowledge, skills, tools, and techniques to meet goals and objectives.
What does “demographics” measure?
Age, gender, income, education, etc.
Name one advertising technique.
Humour, celebrity endorsement, social proof.
What does the “S” stand for in SWOT?
Strengths
What is a monopoly?
A company with little or no competition controlling much of the market.
Name one thing used in project management.
Knowledge, skills, tools, or techniques.
What does “geographics” focus on?
Location of business/work site/customers.
What is celebrity endorsement?
Using a famous person to promote a product.
What does the “T” stand for in SWOT?
Threats
What is competition in business?
Rivalry between businesses selling similar products
What are projects trying to meet?
Specific goals and objectives.
Give two examples of behavioural traits in consumers.
Brand loyalty, buying habits, usage rate, benefits sought.
Why does humour work in advertising?
It grabs attention and makes ads memorable.
What is an opportunity in SWOT analysis?
A chance for growth or improvement.
Why is competition important for customers?
Better prices, quality, and choices.
Give an example of a real-life project that would require project management and explain why.
Examples may vary
A company sells luxury watches to adults with high incomes in large cities. Which parts of a consumer profile are they targeting?
Demographics and geographics.
A cereal company creates a commercial with a famous actor making jokes while eating the cereal. Identify the two advertising techniques being used.
Celebrity endorsement and humour.
A small business has loyal customers but struggles with high costs. Identify one strength and one weakness.
Strength = loyal customers; Weakness = high costs.
Why could a monopoly be harmful to consumers?
Higher prices, fewer choices, less innovation.
A team finishes a project on time but goes over budget and misses the client’s expectations. Did they fully succeed in project management? Explain.
No, because they missed budget/client expectations.
A fast-food company notices customers only buy when prices are low and rarely stay loyal to one brand. Which behavioural traits does this describe, and why would this matter for advertising?
Buying habits + low brand loyalty.
A sports drink company hires a famous athlete, uses funny commercials, and shows millions of followers online using the product. Identify all three advertising techniques being used.
Celebrity endorsement, humour, social proof
A company notices a new competitor opening nearby while online shopping becomes more popular. Identify one threat and one opportunity from this situation.
Threat = new competitor; Opportunity = online shopping growth.
A company owns almost all internet service in a region and raises prices because customers have no other options. Explain how this connects to monopoly and lack of competition.
Monopoly allows higher prices because customers lack competition/options.