The World of Marketing
Intangible items that have monetary value and satisfy needs and wants; involves a task.
What is a service
The person accredited as the founder of McDonald's
Who is Ray Kroc?
The 4 elements of the marketing mix
What are Price, Product, Place, & Promotion
A conscious, logical reason for a purchase
What is a rational motive
A formal document that a job applicant creates to itemize their qualifications for a position
What is a resume
A SWOT Analysis stands for
What is Strengths, Weaknesses, Opportunities, and Threats
Work for others, set schedules to follow, guaranteed paycheck
What is an employee
The pricing strategy when you price your products lower than other businesses and rely on selling more units to make up for the profit loss
What is economy pricing?
Dollar or unit sales goals set for the sales staff to achieve in a set amount of time
Sales Quota
The typical length of a resume
What is one to two pages
The three categories of target market descriptions (the three ways to segment a market)
What are demographics, geographics, & psychographics
A business owned and operated by one person
What is a Sole Proprietorship
These brands are produced by, widely available from, and identified with a specific manufacturer, distinguishing them from store brands or generic brands.
What is a national brand
The act of looking for new customers
What is Prospecting
This section of a resume typically includes details about your previous jobs, roles, and responsibilites
What is work experience
The percentage one company has of the total sales volume generated by all companies that compete in a given market
What is market share
The formal name for the owners of a corporation
Who are the stockholders/stakeholders
The type of promotional mix activity that involves offering a discount such as 25% off a purchase or BOGO free
What is a sales promotion
The last step in the sales process
What is following up
When describing job duties, it's best to use this format for clarity and conciseness.
What are bullet points
The five forms of utility
What are Form, Time, Possession, Place, & Information
A legal agreement to sell a parent company’s product or services in a designated geographic area
What is a franchise?
The formal name for mascots of different companies including the Pillsbury Doughboy, Ronald McDonald, or Tony the Tiger
What is a trade character
A closing method used to create a sense of urgency and tell the client there is no time like now to buy
What is "Best Time"
Maintaining this during an interview helps convey confidence and engagement.
What is eye contact?