Marketing Concepts
Which major marketing function communicates information to consumers about a business’s products?
A. Promotion
B. Channel Management
C. Product/Service Management
D. Pricing
A. Promotion
Explain the difference in B2C and B2B business?
B2C (Business-to-Consumer) vs B2B (Business-to-Business)
Personal selling done over the telephone is known as:
A) Telemarketing
B) Phone Sales
C) Cold Calling
D) Spam Risk
A) Telemarketing
When an employee is giving an oral presentation, he/she should speak
A. clearly and condently
B. in a low voice
C. quickly and urgently
D. in a monotone voice
A. Clearly and Confidently
What colors would make sense for a natural foods store that prioritizes sustainability?
Answers may vary - probably green
Explain to me the concept of competition in business.
Two or more businesses attempting to attract the same customer
Which is not an example of a Customer profile?
A) Females 35-45, with kids, use Instagram
B) Construction workers who make $60,000+
C) People who play video games for fun
D) Ages 15-19, Latino, getting their drivers license
C) People who play video games for fun
How do you calculate Profit?
(HINT: _____ -______=profit)
Income - Expenses= Profit
What type of software program allows businesspeople to combine graphics, transparencies, slides, and text for an on-screen display of information?
A. Application
B. Publishing
C. Presentation
D. Operating
C. Presentation
When a single watch or ring is displayed in a glass case with plenty of space around
it, the item is presented as
A. part of a set
B. a clearance item
C. a luxury item
D. out of stock
C. a luxury item
The marketing concept is
A. the total of the seven marketing functions
B. the goal of the free enterprise system
C. the generally accepted definition of marketing
D. the idea that a business should satisfy customers while generating a profit
D. the idea that a business should satisfy customers while generating a profit
Which of the following would NOT be considered Financing?
A) A sneaker startup sells 10% of the company to an investor in exchange for the cash needed to buy more inventory.
B) A minor league baseball team meets with a bank to secure a $500,000 loan to renovate their stadium's concession stands.
C) A coffee shop owner visits three other shops in the neighborhood to write down their prices and what time they are busiest.
When designing a display, the BEST way to give the impression of high-priced merchandise is to
a) present many items
b) use a sale sign
c) present a single or small number of items
d) use proper color combinations
c) present a single or small number of items
When interviewing for a retail sales position, one should
A. dress in the latest fashion
B. choose an outfit appropriate for the job
C. choose a solid color outfit
D. wear something distinctive that the interviewer will remember
B. choose an outfit appropriate for the job
The type of media used for an advertisement depends on the
A. employee demands
B. international trade agreements
C. union specifications
D. product and market
D. product and market
What are the 7 Functions of Marketing?
1) Product/Service 2) Promotion 3) Pricing 4) Place/Channel Management 5) Marketing Information Management 6) Market Planning 7) Selling
Explain the difference between Mass Marketing and Target Marketing?
Mass Marketing is to anyone who might buy a good or service. Target Markets are a specifi group of customers whose needs and wants a company can focus on satisfying.
Explain the difference between institutional and promotional ads using Wawa as an example?
Many different answers. One could be Wawa advertising their pizza versus advertising they are open late.
Which items should a person take along to an interview?
A. pen, Social Security card, and resumé
B. personal data sheet and marriage license
C. union card and driver’s license
D. report card, list of references, birth certicate, and a pen
A. pen, Social Security card, and resumé
Customer service in retail marketing deals primarily with
A. meeting the customer’s needs
B. completing a benefit package
C. understanding the wholesaler’s needs
D. getting promoted to manager
A. meeting the customer’s needs
What are three examples of Marketing Information Management?
Surveys, Focus Groups, Interviews, other possible answers
What are 3 ways we can break up a target market?
demographics, geographic, multicultural, behavioral, psychographic (any combination of these)
What is the difference between a subtotal and total on a receipt?
The subtotal is the cost BEFORE tax. total is after tax.
What is 20% off of an $80 purchase?
$16 off.
What are the 4 components of a print ad?
Headline (Hook), Copy, Illustration, Signature