Study Guide Summative Business and Marketing Fall 2024

Front

What is the primary purpose of marketing?

Back

To promote products or services

Front

What are the 4 Ps of marketing?

Back

Product, Price, Place, Promotion

Front

What is the term for a specific group of consumers targeted by a business?

Back

Target Market

Front

What is NOT a function of business? Production, Marketing, Finance, Sleeping

Back

Sleeping

Front

SWOT analysis is used for:

Back

Identifying strengths, weaknesses, opportunities, and threats

Front

What does ROI stand for in marketing?

Back

Return on Investment

Front

What does the term "brand loyalty" mean?

Back

A customer's preference for a particular brand over others

Front

What is an entrepreneur?

Back

A person who organizes and operates a business, taking on financial risks to do so.

Front

What is the purpose of a business plan?

Back

To outline the business goals and strategy

Front

What is e-commerce?

Back

A type of online shopping