The business environment

How did William Wrigley Jr. attempt to make his product more attractive to buyers?

• Reducing the price of his product

• Offering a free product with each sale

• Donating a portion of each sale to charity

• Testing his product to make it of better quality

What is the source of most business opportunities?

• Profits

• Demand

• Investment

• Change

Which of the following is an Australian franchise?

• Oporto

• Aesop

• Krispy Kreme

• The Coffee Club

Which is an example of a financial objective?

• Maximise shareholder returns

• Fulfil a market or social need

• Increase profits

• Increase share price

What is another name for a slogan?

• Graphics

• Brand

• Logo

• Catchphrase

What are the 4Ps of marketing strategy?

• Psychographic, potential, price, product

• Product, price, promotion, place

• Place, primary, packaging, promotion

• Psychographic, potential, packaging, primary

A is a business that licenses the right to sell its products and use its business name.

What does the term R&D mean?

• Read and Draw

• Research and Development

• Run and Duck

• Revise and Develop

What does the 'S' in SMART goals stand for?

• Smart

• Safe

• Specific

• Special

What does the 'M' stand for in SMART goals?

• Mine

• Money

• More

• Measurable