Noah, James, and Ava are planning to start a lemonade stand. They are in the process of planning, pricing, promoting, selling and distributing their lemonade to create exchanges that satisfy their customers. What is this process called?
Ritchey MP Final Exam - 2024

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Business
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Hard
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1.
FLASHCARD QUESTION
Front
Back
Marketing
2.
FLASHCARD QUESTION
Front
Rohan is starting a new business and his mentor, Olivia, advised him to focus on the 4Ps which include: product, place, price and promotion. These 4Ps are known as:
Back
Marketing mix
3.
FLASHCARD QUESTION
Front
Abigail, Isla, and Evelyn are part of the marketing team at NIKE. They are tasked with examining their company's internal strengths and weaknesses, as well as external opportunities and threats. This process is known as
Back
SWOT analysis
4.
FLASHCARD QUESTION
Front
David's mom has identified the snacks most likely to be enjoyed by her children. For Campbell's Chicken and Stars, the focus is on David and his younger sister Evelyn, while Campbell's 'Yes!' soups are catered to her and her husband. These specific groups of family members are an example of a parent identifying them for specific meal planning. They are known as the...
Back
Target market
5.
FLASHCARD QUESTION
Front
The percentage of total sales a company controls in the market is called...
Back
Market share
6.
FLASHCARD QUESTION
Front
Abigail has started a new business and is deciding on how to distribute her products and where to sell them. These decisions are examples of which marketing mix strategy?
Back
Place
7.
FLASHCARD QUESTION
Front
Zoe, Grace, and Anika are trying to identify all the people who share similar needs and wants and who have the ability to purchase their handmade jewelry. What is this group of people called?
Back
Market
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