Ritchey MP Final Exam - 2024

Ritchey MP Final Exam - 2024

Assessment

Flashcard

Business

Hard

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35 questions

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1.

FLASHCARD QUESTION

Front

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?

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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