Marketing Topics
explain the relationship between supply and demand
As the price increases, supply rises while demand declines. As the price drops supply constricts while demand grows.
Inflation
occurs when prices rise
Explain the concept of productivity
Productivity is defined as the output per worker hour that is measured over a set period of time, such as a week, month or year. Higher productivity increases profits.
What is a key to effective note-taking?
A. Capturing details
B. Active listening
C. Creative thinking
D. Using an outline
B. Active listening
What are the 4 P's of marketing
product, price, place, promotion
Gross Sales
the total of all sales during a given period
Explain the nature of effective written communications
Written communication is the most common form of business communication and therefore requires employees to write frequently and rapidly. Written communications allow an employee to receive instructions or information upon which to base decision or take a specific action.
Planning ahead and estimating the time it will take to complete your tasks will help you to
A. learn how to procrastinate.
B. manage your work commitments effectively.
C. improve your technical skills.
D. reduce your workload.
B. manage your work commitments effectively.
What is the promotional mix
advertising, personal selling, sales promotions, direct marketing, and public relations
Cash Flow Statement
A cash flow statement is a monthly statement that shows when cash will go into and go out of a business
Explain the nature of staff communication
Employees need to feel they are important and have the opportunity to talk to supervisors. They also need to feel like their opinion is heard.
A memo on the bulletin board from a supervisor to staff members is an example of __________ communication.
A. downward
B. formal
C. upward
D. horizontal
A. downward
whats a customer profile and give an example of one
a business's ideal customer.
example may vary
Net Pay
Net pay is the remaining amount after deductions from the gross salary, where net means ultimate
Explain the nature of channels of distribution
Channels of distribution are the path a product takes from its producer or manufacturer to the final user.
Which of the following describes a divisional organizational structure:
A. Perkins Pottery has creative, production, operations, and sales departments.
B. AJK Corporation has a CEO, followed by six vice presidents who manage the company's product lines.
C. Tom’s company contracts him out to take on various projects.
D. A photography business only has three employees: the photographer, assistant, and salesperson.
B. AJK Corporation has a CEO, followed by six vice presidents who manage the company's product lines.
what is A/B Testing
testing where you compare 2 different versions(version A and B) and see which performs better
Non-Price Competition
occurs when a business focuses on factors other than price to attract customers; such as customer service, product selection, business services…etc
Explain the nature of import/export law
A tax collected on imports and some exports by the customs authorities of a country. This tax is used to raise state revenue. It is based on the value of goods called ad valorem duty or the weight, dimensions, or other criteria of the item such as its size.
When employees use mobile devices to access work information outside of the office, they often
A. purposely share company data with nonemployees.
B. protect company data more than they would in the office.
C. put company data at risk by using unsecured Wi-Fi networks.
D. get viruses on their mobile devices.
C. put company data at risk by using unsecured Wi-Fi networks.