Marketing Basics
Product, Price, Place, Promotion.
What are the Four Ps of Marketing?
The term for a general rise in prices throughout an economy.
What is Inflation.
A method of managing inventory with minimal raw materials on hand.
What is Just-In-Time (JIT) inventory control?
The process of contacting people who are not expecting a sales call.
What is a cold call?
Communicating effectively using body language, eye contact, and behavior.
What are nonverbal skills?
The term that describes the specific group of customers a company focuses on.
What is Target market.
The market value of all final products in a country during a specific time period.
What is Gross Domestic Product (GDP)?
Defines the position and expectations of a job.
What is a job description?
A document listing the products or services provided by a business and their price.
What is a sales and service contract?
Critical skills necessary to perform work-related tasks.
What are job-specific skills?
A statement summarizing features, benefits, and how a product is better than competitors.
What is a unique selling proposition?
An economy where the government makes all the economic decisions.
What is a command economy?
The manufacturing of goods in large quantities using standard techniques.
What is mass production?
An office for receiving and making customer calls for an organization.
What is the role of a call center?
The location, physical conditions, and emotional atmosphere where employees work.
What is the work environment?
To describe the purpose of the business in a business plan.
What is the purpose of a mission statement?
The difference between a nation’s exports and imports.
What is the balance of trade?
A legally binding agreement when two or more individuals create a business.
What is the partnership agreement?
The maximum price set by the government for certain goods and services.
What is a price ceiling?
Using logic to change beliefs or encourage certain actions.
What is persuasion?
Print that appears in everyday life.
What is environmental print?
The total money circulating at any one time in a country.
What is the money supply?
The process of changing raw materials into another form for use?
What is Materials processing.
A legally binding agreement between two or more people or businesses.
What is a contract?
The particular style of printed letters and numbers.
What is typeface?