Intro to Business- Unit 4 Topic 4 Test Review

Front

True or False: A mission statement is all about the business now, and the vision statement is about the business's goals for the future.

Back

True

Front

Which of the following marketing techniques is shown in the image below? Options: product placement, print advertisement, sponsorship

Back

product placement

Front

Which of the following marketing analysis questions is arguably the most important one a business should ask itself after a marketing campaign is done? Options:
What did the people who saw the marketing campaign think about it?, How many people saw the marketing campaign?,
How many sales did the marketing campaign lead to?, Which people saw the marketing campaign?

Back

How many sales did the marketing campaign lead to?

Front

When should a business perform a marketing analysis?

Back

Both before launching a marketing campaign and afterward

Front

Which of the following statements is true about marketing?
Options: Marketing in a commercial is only considered marketing if it gets a sale., Marketing strategies are always very costly for a business., Marketing campaigns like print advertisements are not practiced anymore.

Back

Marketing is any effort made by a business that leads to sales.

Front

Which of the following is an example of competitors replicating ideas from each other?
Options:
Peloton creating a high-tech, at-home cycling bike not seen before
,
new fast food restaurant creating value meals
,
Apple being the first to create a smartphone
,
a donut shop developing a creative new flavor

Back

new fast food restaurant creating value meals

Front

Which one of the following is the term for businesses creating loyalty cards, sending coupons to those on their email list, and releasing new product accessories?

Back

customer retention

Front

Which of the following actions would be an example of Peloton pivoting their business?
Options:
They fire the instructors who are not being watched enough.
They add more workout classes to their memberships.
They start to include a free streaming month with the purchase of a bike.
They give up workout classes and change to nutrition coaching only.

Back

They give up workout classes and change to nutrition coaching only.

Front

True or False: Scaling a business and increasing sales will always result in more profit for the business.

Back

False

Front

What reason would an ice cream manufacturing business have to acquire a dairy-supplying business as well?

Back

to supply their own materials cheaper than buying from another business