Budget
Key Concepts
Test Qs
Writtens
Roleplays
100
Define Net Profit
The total amount of money made after accounting for working expenses
100
This model describes the stages of a product from launch to being discontinued
Product Life Cycle
100
During which phase of a product’s life cycle do its profit margins tend to narrow?
Maturity
100
What is the Executive Summary?
It provides an overview of all sections of report and is usually 1-2 pages long with a description of plan and campaign
100
Define the term: decisions/actions taken by consumers before buying a product
Customer Buying Behavior
200
ROI Formula
(return - investment) ----------------------- investment
200
Analysis of a business's strengths, weaknesses, opportunities, and threats
SWOT Analysis
200
With inflation, does purchasing power increase or decrease?
Decrease
200
Define Key Metrics
Measures of success that should be kept track of
200
Should you backtrack and add onto something from earlier in the roleplay? Why or Why not?
No because it will ruin the flow of the roleplay.
300
What is the financial summary that shows how much money the business has made or lost?
Profit and Loss Statement
300
The potential group of customers that the company targets
Target Market
300
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
Downward
300
Which written event(s) includes testing?
Integrated Marketing Campaigns, Consulting Events
300
5 Elements of the promotional mix
Advertising, PR, Direct Marketing, Professional Selling, Sales Promotion
400
How should the budget be formatted? Boring or unique and why?
boring
400
A set of guiding principles intended to ensure a business and its employees act with honesty and integrity
Code of Ethics
400
During periods of economic expansion, businesses are likely to
A. increase their production. B. reduce their profits. C. stop hiring workers. D. benefit from high-interest rates.
Increase their production
400
What are all the ORs?
BOR, BMOR, FOR, HTOR, SEOR
400
Explain the TAM SAM SOM model.
500
What is a contingency?
Emergency money in case something goes wrong
500
What are the different promotional mixes?
personal/direct selling, advertising, public relations, and sales promotion
500
The difference between service providers' and manufacturers' operations activities is that service providers produce __________ outputs.
A. expensive B. intangible C. useful D. tangible
Intangible
500
Which event requires no report and only presentation and testing?
Professional Selling and Consulting
500
What is Maslow's Hierarchy of Needs?
It is a 5-tier model of human needs (self-actualization, self-esteem, love and belonging, safety and security, physiological needs) used for understanding the intentions of human behavior.