Asking questions is important because it
A. helps you become a passive participant in the conversation.
B. gives you a chance to voice your opinion.
C. can clear up misunderstandings.
D. helps your brain process speech more quickly.
C. can clear up misunderstandings.
Cindy's lemonade stand sells lemonade to customers. The route that the lemonade is taking from the producer to the final consumer is
A. roundabout. B. indirect. C. direct. D. intermediary.
C. Direct
Explain the principles of supply and demand
Demand = quantity of product/service desired at a certain price
Supply = quantity suppliers are willing to provide at a certain price
My roleplay scenario is asking me to create an advertising campaign that will persuade people to buy LUXE CHOCOLATES for themselves without a special occasion. My solution involves social media marketing and emphasizes UGC (user-generated content) is the new WOM (word-of-mouth marketing). What real world example can I use to back up the effectiveness of these two forms of marketing? (hint: think of our class examples!)
Live Anywhere on Airbnb: the UGC through social media marketing made the brand image seem more authentic and drove up bookings by 15%
(you don't have to memorize percents, you could make those up)
What day is regionals on?
November 22. 2024
What does an enclosure notation at the bottom of a business letter signify?
A. Something is being sent with the letter.
B. Copies of the letter were sent to others.
C. The sender wishes a reply.
D. The sender prepared the letter.
A. Something is being sent with the letter.
Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. Which of the following describes the quantity that Marcy is prepared to buy:
A. Supply B. Elasticity C. Demand D. Market price
C. Demand
In order for demand to exist, consumers must have both the desire and the ability to purchase the product.
Discuss a motivational theory that impacts buying behaviour (the one I asked you to search up in the post)
Maslow's Hierarchy: provides insight into consumer buying behaviour and how different motivations lead to certain purchasing choices - to enhance marketing strategies, identify where your product fits into this hierarchy so your message matches the customer's needs
Which visual should you use in this roleplay? Justify your answer
In this roleplay, you will take on the role of the general manager at JOHNSON FAMILY ELITE, a local automobile dealership that sells both new and used ELITE vehicles. The dealership owner (judge) is contemplating a change in operating hours, specifically shifting from being closed on Sundays to opening on that day instead of Saturday, making it the only dealership open on Sundays within a 750-mile radius. Your task is to analyze the potential benefits and drawbacks of this change, considering factors such as sales, customer service, competition with other dealerships, and the impact on employees. You will present your findings and recommendation to the owner in a role-play setting, where the owner will start the conversation, and after your presentation, conclude by thanking you for your insights
Som examples: SWOT Analysis, Line graph, Bar graph
List all the components of your roleplay introduction and conclusion
Introduction: hook, role, problem, solution, transition to PI's
Conclusion: problem, solution, review key points, connect to hook, thanks, transition to questions
What do business owners consider when they select a business ownership structure?
A. Product versatility, advertising strategies, and personal circumstances
B. Product versatility, financial needs, and advertising strategies
C. Personal circumstances, type of business, and product mix
D. Personal circumstances, financial needs, and the type of business
D. Personal circumstances, financial needs, and the type of business
A manufacturer that decides to sell directly to large retailers rather than through wholesalers might create __________ conflict within its distribution channel.
A. formal B. horizontal C. vertical D. conventional
C. Vertical
Describe factors used by businesses to position corporate brands
Price, quality, features, benefits and relationship to the competition
Which visual would you use in this roleplay? Justify your answer.
In this roleplay, you are the director of marketing for SUNNY SMITH, an upscale beachwear brand known for timeless, high-quality products. The senior vice president (judge) wants you to develop a strategy for opening pop-up stores in new locations beyond the West Coast, where all five current SUNNY SMITH stores are located. Your task is to determine the number, locations, duration, and ideal product mix for these pop-ups to attract customers who are hesitant to buy luxury beachwear online without experiencing the quality firsthand. You’ll present your recommendations to the senior vice president in a role-play setting, answering questions and concluding with a final thank-you.
Some examples: Bar graphs, Pro/con table
What is the difference between marketing and promotion?
Promotion is one of the final steps of marketing + it's one of the 4 P's of the marketing mix.
When an agent legally acts in the best interests of his/her client, the agent is establishing a(n) __________ relationship.
A. authoritative B. fiduciary C. principal D. legislative
B. Fiduciary
The agent often negotiates contracts and handles legal issues for another person with that person's consent. The agent who shows that s/he is loyal, trustworthy, and acting in the best interest of his/her client is fostering a fiduciary relationship. Authoritative relationships are based on a particular level of control. Principal is a legal term that describes the client. Legislative processes involve the procedures in which people or governments establish laws.
Which of the following often makes it difficult for small manufacturers that have limited budgets to receive an equal opportunity to distribute their new products:
A. Gray marketing B. Slotting allowances C. Channel strategies D. Targeted advertising
B. Slotting Allowances
A slotting allowance is a cash premium that manufacturers pay to businesses to cover the costs involved in carrying a new product. Often, the manufacturer that offers the largest allowance is the one that gets shelf space for its new product. This may be unethical because small manufacturers that cannot afford to pay large slotting allowances do not have an equal opportunity to distribute their products.
Explain the nature and scope of channel management
Supervision of good/service through manufacturing process to final user
It includes transportation, services, inventory when moving through
Which visual would you use in this roleplay? Justify your answer.
In this roleplay, you will act as the general manager and assistant manager of KEYS & STRINGS, a local business offering private piano and string instrument lessons. The owner (judge) wants you to propose new products or services to expand the clientele beyond current piano and string instrument players, despite being unable to hire additional instructors for other instruments. Your task is to suggest ideas that leverage existing resources to attract a broader customer base, along with an effective marketing approach that highlights customer benefits. You'll present these recommendations to the owner in a meeting, address any questions, and conclude with a final thank-you.
Explain penetration pricing
A business introduces a new product/service into the market by offering it at a lower price in comparison to its competitors
Which of the following is a product strategy that marketers devise using available data:
A. Where to sell the product
B. How much to charge
C. What advertisements to run
D.What level of customer service to provide
D.What level of customer service to provide
Think of 4P's of marketing - the rest of them represent place, pricing, and promotion - not product
After The IWP Company receives online orders from its customers, it quickly replies to all of its customers with the following email message: "Thank you for your order. It will be processed within the next 48 hours." The email function that generates these types of messages is called a(n)
A. instant message. B. autoresponder. C. mechanical reaction. D. timed reply.
B. Autoresponder
Autoresponder is a computer program that automatically returns a specified message to anyone who emailed a particular address. The autoresponder function is a way for a business to quickly acknowledge the customer's message and to let him/her know that the company is going to take action within a certain timeframe. It is a way to provide customer service. Instant messaging is a computer program that allows one or more individuals to send typed messages via the computer in real time. Mechanical-reaction and timed reply are fictitious terms.
Explain one of the 5 types of business ownership
Sole proprietorship: 1 person runs the whole business
General Partnership: 2 or more ppl contribute money, skill, or labor to a business; all partners share profit and loss; all partners manage the business
Limited Partnership: same as general partnership except partners will only share in the loss as much as they have invested and not all partners run the business
Limited Liability Partnership (LLP): like a general partnership, but partners aren't held responsible for acts of other partners
Corporation: complex business structures - have certain rights, privileges, and liabilities beyond those of an individual; doing business as a corporation may yield tax or financial benefits, but there is also increased licensing fees or decreased personal control (have a board of directors); corporations are both for and not for profit
Think of and explain a real world example you could use to support a solution to this roleplay.
In this roleplay, you are the director of operations for FOOD GALA, a regional grocery chain, tasked with developing a competitive, store-branded delivery service. With national delivery companies CART INSTANT and DRIVEON now serving FOOD GALA customers, the senior vice president (judge) wants to differentiate FOOD GALA’s service with competitive pricing, appealing perks, and features that reinforce the brand’s community-centered image. You’ll determine key aspects such as pricing structure, minimum purchase requirements, and additional benefits to attract loyal customers. Your plan will be presented to the senior vice president in a role-play setting, followed by a discussion and concluding thank-you.
Eg. Walmart+ (Walmart's delivery service)
For an annual fee, customers can access unlimited free delivery.
This example shows how a company can build customer loyalty by providing a store-branded delivery service with unique benefits that national competitors don’t offer, just as FOOD GALA aims to do.
Based on the following roleplay scenario, present an introduction that includes all the necessary components:
You are the marketing manager for SUNNYDALE CIRCUS, which is launching a new animal-free show titled "Let Us Entertain You." Faced with declining popularity due to animal welfare concerns, your task is to create a compelling marketing plan for the circus’s upcoming 120-city tour, focusing on human performers like clowns, acrobats, and illusionists. The judge will play the role of the manager, seeking innovative ideas to promote the revamped show, while you present your strategy and address any questions. Your goal is to convince the manager that this new direction will reinvigorate the circus and attract a diverse audience.
Should include:
- Hook
- Mention judge and their role
- State problem
- Give brief overview of solution