business test
in terms of an invoice read " 2/10 net 30" this means that
a 2 percent discount may be taken if the invoice is paid within 10 days
a critical factor in the success of any business is
a large advertising budget
a paid form of communication sent out by a business about a product or service is
advertising
the nike "swoosh" Is an example of
brand
physical distribution includes all of the following except
branding
a business may set its prices for product and services using
competition based pricing, cost based pricing, and demand based pricing
in choosing an advertising medium, you should
consider its effectiveness int reaching your target market
the first step in consumer decision process market is
define the problem
to use the marketing concept businesses must do all of the following except
devote half of its profit towards marketing
networking is
establishing informal ties with people who can help you business grow, a way to increase market share, and attending gatherings that give you good opportunities to meet potential customers
a long term goal might be to
expand by adding a second location
product characteristics that will satisfy customer needs are
features
the physical characteristics or capabilities of product and services are called
features
businesses need channels of distribution
for the products and services they sell
channels of distribution include the routes that products and services take
from manufactures to wholesalers, from retailer stores to consumers, and from manufactures to retail stores
marketing goals
help shape your marketing plan
storing products
helps balance supply and demand of products
businesses should always set their prices
high enough to make a profit
a marketing plan should do all of the following except
identify the owners net worth
intermediaries are used in
indirect channels of distribution
publicity is free promotion that
is generated by media coverage, may involve staging an event or bringing in a celebrity, and may be favorable or unfavorable
a product mix
is the different product and services the business sells
a disadvantage of radio advertising is that
it is only audio message
when a company offers different product and services in the same category
it is trying to serve different customer needs
newspaper advertising is good for small businesses because
it targets a united geographic area
the main advantage of direct mail advertising is that
mailing lists for target market are available for purchase
the most cost effective channel option is
manufacture to consumer
the total market for a product must be known in order to determine
market share
price is one of the elements of the
marketing mix
distributing a product or service on the internet
may be a good idea for many businesses
all of the following are price objectives except
minimize sales
short term goals can be stated in terms of
number of customers, level of profits, and level of sales
which of the following pricing techniques is often used in the introductory stage of a product
penetration pricing
creating an image for a product in the costumers mind is called
positioning
to satisfy a specific customer need the business
positions its products in a certain market
your marketing strategy should address
product introduction or innovation, pricing, and market share
which of the following is not a rational buying motive
protection
transit advertising consists of signs on
public transportation
contests coupons, free samples, are examples of
sales promotion
personal selling skills become more important when customers
seek to meet their upper level needs
companies that use the marketing concept will
select a product mix that will most appeal to their target market
you can find a listing of manufacturing companies in the United States in
the Thomas register
the marketing concept is the belief that
the wants and needs of customers are the most important
medium term goals describe what you want your business to be in
two to five years
with cost based pricing, a price is determined by
using the wholesale price of an item
the use of logos or signs to market you product is called
visual marketing
using the phone to market your product is called
visual marketing
an online ad that changes the background of the page being viewed is called
wallpaper ad