Business Baseline Knowledge Assessment

Front

What is the primary purpose of a business plan?

Back

To outline goals, strategies, and financial projections

Front

What are the basic 4 P’s of the Marketing Mix?

Back

Product, Price, Place, Promotion

Front

Market research is primarily used to:

Back

Understand consumer preferences and market trends

Front

SWOT analysis includes:

Back

Strengths, Weaknesses, Opportunities, and Threats

Front

Which pricing strategy involves setting prices based on competitor rates?

Back

Competitive pricing

Front

The primary goal of promotions in marketing is to: increase brand awareness, boost sales, engage customers, enhance product visibility

Back

boost sales

Front

What does ROI stand for?

Back

Return on Investment

Front

Which metric measures profitability before operating expenses are deducted? Options: Net profit margin, Gross profit margin, ROI, Cash flow

Back

Gross profit margin

Front

What is a primary benefit of implementing secure e-payment systems for online retailers?

Back

They allow customers to pay securely and conveniently

Front

Payroll systems are part of which business area? Options: Talent management, HR systems, Inventory management, Budgeting

Back

HR systems