Random
What component of an email can be utilized to know what the email is about without having to open it?
The Subject
What is Economic Equilibrium?
The point at which the supply curve & demand curve meet
What is the lowest point of the business cycle known as?
Depression (Trough)
What is a price ceiling?
A government regulated limitation on how high a price can be
What does GDP stand for?
Gross Domestic Product
In what form of economic system are prices set by consumers, & business owners can set their own prices (with some exceptions)
A Market Economy
What is channel management?
The direction of marketing activity
Define inflation
When the buying price of money goes down, and prices go up
What are the two categories of economic resources?
Human & Non-Human
What is scarcity?
a lack of economic resource
What does economic equilibrium represent?
The prices of goods
What is a free enterprise?
A market where the buyers determine the prices
Define Demand
The consumer willingness or ability to buy products
What is a monopoly?
When one company controls the market for a product
Regarding supply & demand, explain what it means to have a surplus
There is more supply than demand, so you have extra left over
What does GDP measure for a country?
The health of the economy
What is an oligopoly?
Where the market is dominated by a handful of companies. i.e. The cell phone market is dominated by Sprint, AT&T, Verizon, etc.
Which economic system exists with both free market characteristics, as well as command economy characteristics?
Mixed Economy
True or False: Positioning is not a mental concept, it is the physcial product positioning to be noticed as much as possible.
False! It is the mental positioning that a company has in the minds of the consumers
What is the difference between SEO & SEM
SEO involves pushing results from searches to the top of the results
SEM involves marketing to consumers through advertisments on the side margins of search results
Name all 4 areas of market segmentation
Behavorial
Geographic
Psychographic
Demographic
What are some of the traits that exhibit a great professional email?
Short, concise, scannable, bold is used on important areas, etc.
True or False: The marketing concept exists to meet the needs & wants of the suppliers at a profit
False! The concept exists to meet consumer needs
It is the amount of output received from the input, a factory's production is a great example here.
In what type of economic systems is there freedom to set prices, for the everyday businessman/woman?