Business Concepts Review

Front

What is the primary goal of a business?

Back

Profit

Front

Franchisee

Back

A person or company that is granted the license to do business under the franchisor's trademark and trade name.

Front

Which shows a snapshot in time of a company’s assets, liabilities, and equity?

Back

Balance sheet

Front

Mission Statement

Back

A statement of the company's purpose and values

Front

Preferential marketing

Back

Marketing that targets specific customer preferences

Front

What is a business plan?

Back

A document outlining a company's goals and the strategy to achieve them.

Front

Which of the following is NOT part of the promotion mix? Advertising, Public Relations, Product Development, Sales Promotion

Back

Product Development

Front

The role of supply chain management is to oversee the flow of goods and services and includes all processes that transform raw materials into final ______. Options: Products, Services, Ideas, Concepts.

Back

Products

Front

Management functions include:

Back

Planning, Organizing, Leading, Controlling

Front

Marketing involves: Buying and selling, Advertising and promotion, Hiring and training, Producing and manufacturing

Back

Advertising and promotion