Marketing Basics
What is marketing?
What is the process of promoting and selling products or services to customers?
Which ownership has one owner?
What is a Sole proprietorship.
Which leadership style adapts to the situation?
What is Situational leadership?
What is a business?
What is an organization that sells goods or services to make money?
Who is a consumer?
What is a person who buys or uses goods and services?
What does the "4 P's" stand for?
What are Product, Price, Place, and Promotion?
Which ownership shares resources and capital?
What is a Partnership.
Which leadership style uses rewards and punishments?
What is Transactional leadership. ?
What is profit?
What is the money a business makes after expenses are paid?
What is customer service?
What is assistance a business provides to its customers?
What term describes the group of people a business wants to reach?
What is a target market?
Which ownership has unlimited liability?
What is a Sole proprietorship?
Which leadership style is hands-off?
What is a Laissez-faire leadership. ?
What does supply and demand mean?
What is how the amount of products available and customer desire affect price?
Why do businesses care about customer reviews?
What is reviews influence other customers and business reputation?
What is the difference between marketing and advertising?
What is marketing the overall strategy, while advertising is one part of marketing that promotes a product?
Which ownership has limited liability and may face double taxation?
What is a Corporation?
What are the four functions of management?
What is Planning, organizing, leading, and controlling?
What is the difference between a product and a service?
What is a product is a physical item, while a service is an action performed?
How can price affect a customer’s decision to buy?
What is customers may choose cheaper or better-valued options?
Why is branding important to a business?
What is branding helps customers recognize and trust a company?
Which ownership structure has the most complex formation, and what is one disadvantage?
What is a Corporation; one disadvantage is double taxation?
How should a manager choose a leadership style for a team?
Consider the situation, employees’ needs, experience, and the task. A situational leader adapts their approach as needed.
Why do businesses need a business plan?
What is it helps guide goals, decisions, and financial planning?
What factors influence consumer buying behavior?
What are price, quality, brand, emotions, and personal needs?