Principles of Entrepreneurship 4th Quarter EOC Review

Front

Define the following term: Brand positioning.

Back

Brand positioning is the process of positioning your brand in the mind of your customers.

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Define the following term: Digital marketing.

Back

Digital marketing is the use of digital channels to promote or market products and services to consumers and businesses.

Front

Define the following term: Direct/indirect selling.

Back

Direct selling is selling products directly to consumers away from a fixed retail location. Indirect selling involves intermediaries such as retailers or wholesalers.

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Define the following term: Inbound marketing.

Back

Inbound marketing is a business methodology that attracts customers by creating valuable content and experiences tailored to them.

Front

Define the following term: Marketing.

Back

Marketing is the process of promoting, selling, and distributing a product or service.

Front

Define the following term: Marketing concept.

Back

The marketing concept is the idea that businesses should strive to satisfy customer needs and wants while meeting organizational goals.

Front

Define the following term: Marketing mix.

Back

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market, typically described as the 4 P's: product, price, place, and promotion.

Front

Define the following term: Marketing Plan (NFTE's 4 steps).

Back

NFTE's 4 steps of a marketing plan typically include: identifying the target market, setting marketing objectives, developing marketing strategies, and implementing and evaluating the plan.

Front

Define the following term: Market segmentation.

Back

Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.

Front

Define the following term: Sales forecasting.

Back

Sales forecasting is the process of estimating future sales based on historical data, market trends, and other factors.