Marketing Basics
What is the term for the group of people a company wants to sell its products to?
What is the main goal of advertising?
What is to promote a product or service
What is the term for the money a company earns from selling products or services?
What is revenue?
Who is someone that starts and runs their own business?
What is an entrepreneur
What is the term for buying and selling products or services online?
What is E-Commerce?
This marketing element includes product, price, place, and promotion
What are the four P's of marketing?
What do you call a short, memorable phrase used in advertising?
What is a slogan?
This document outlines a company's goals and how it plans to achieve them.
What is a business plan?
This term describes the amount of money needed to start a business.
What is startup capital?
This online platform is commonly used by individuals to sell handmade goods.
What is Etsy?
What do you call research conducted to understand consumer behavior and preferences?
What is Market Research?
Which advertising method uses platforms like Instagram, Facebook, and TikTok?
What is social media marketing?
What is the process of keeping track of income and expenses in a business?
What is Accounting?
What do you call the analysis used to identify strengths, weaknesses, opportunities, and threats?
SWOT
Name one advantage of e-commerce over traditional brick-and-mortar stores.
What is lower operating costs (or wider reach, convenience, etc.)?
This term describes the process of dividing a market into smaller groups with similar characteristics
What is market segmentation?
What is the term for an agreement where a brand pays an influencer to promote their product?
What is influencer marketing
What do you call the process of acquiring raw materials to create a product?
Name one advantage of owning a franchise instead of starting a business from scratch.
What is brand recognition (or established business model/support system)?
What is the term for using email to promote products or services?
Email Marketing
Name the five stages of the consumer decision-making process.
What are need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior?
What is the name of the advertising strategy where companies disguise ads as regular content?
What is native marketing?
Name the three main types of business ownership structures.
What are sole proprietorship, partnership, and corporation?
What is the term for a business model where a company offers a subscription-based service to customers?
What is a subscription-based business model?
This type of e-commerce transaction involves businesses selling directly to other businesses.
What is B2B (business-to-business)?