Business Model Miscellaneous
A business that offers products to the public for final consumption
What is a retailer?
Age, Gender, Income, Ethnicity are all characteristics which can be used to describe a target market, based on what form of segmentation.
What is demographic segmentation?
The metric that measures the total number of times a website pages was viewed
What are pageviews?
This metric is calculated by multiplying price by the number of units sold
What is Revenue?
The social media platform which is best for visual content
What is Instagram?
This popular singer formed a partnership with luxury company LVMH to create a cosmetics line in 2017, and was recently announced as a billionaire
A set of unique features of a company and its products that are perceived by the target market as significant and or superior to the competition.
What is competitive advantage?
Engaging in promotion using billboards, television and radio commercials, or transit (bus/taxi) posters
What is advertising?
The number of times Instagram users interact (likes, mentions, replies) with a post
What are engagements?
What are fixed costs?
The largest social media platform, with over 2 billion monthly active users
What is Facebook?
In 1991, this company founded by Bob Johnson, became the first black-controlled company listed on the New York Stock Exchange
A product which is an intangible activity performed for others, such as hairstyling or car washing
What is a service?
Press releases, news conferences, interviews, and special events are all tools for this type of promotion
What is public relations?
A metric that measures the number of times a tweet shows up in people’s feeds.
What are impressions?
Setting prices a few dollars or cents under an even number
What is odd-even pricing?
Sending promotional information using text messages
What is SMS Marketing?
This former NBA player and hall of famer currently owns the Charlotte Hornets.
Who is Michael Jordan?
The buying and selling of goods or services using the internet,
What is e-commerce?
Hallmark offering different products and cards for different occasions, holidays, and times of year, is an example of segmenting the market based on this factor?
What is behavioral segmentation?
This email campaign metric indicates a good subject line
What is open rate?
Charge a high introductory price, and then lowering the price over time
What is Skimming Pricing?
Mailchimp, Constant Contact, and Hubspot are all tools for this type of marketing
What is email marketing?
This black-owned bank was co-founded in Baltimore by Joseph Haskins in 1982
What is Harbor Bank?
Selling product to a retailer who then sells to the final consumer is a form of this type of channel?
What is an indirect channel?
Coupons, bonus packs, and free samples are all tools for this type of promotional strategy
What is sales promotion?
The percentage of website (online store) visitors who purchased something in a given period of time
What is conversion rate?
Luxury brands use this pricing strategy
What is a premium pricing strategy?
Fastest-growing social-media network of all time
What is Tik-Tok?
This retired NBA player founded the Aspire TV network in 2012 to specifically target African American viewership
Who is Magic Johnson?
Netflix and Spotify, use this revenue model which refers to getting earnings from ongoing payments (usually on a monthly basis) for continuing services or products.
What is recurring revenue?
LinkedIn, Tik-Tok, Pinterest are all examples of this form of digital marketing which allows people, and companies to create, share, or exchange information, pictures/videos in virtual communities and networks.
What is social media?
The ratio of the number of abandoned shopping carts to the number of initiated transactions
What is shopping cart abandonment rate?
This approach to calculating sales price, refers to adding a standard $ or % amount to the unit cost of a product
What is markup pricing?
A button or link in an email which directs the reader to engage in an action such as "donate" or "buy now"
What is a call to action?
This entrepreneur from Baltimore, was the first African American to build a billion-dollar company?
Who is Reginald F. Lewis?