Define the following term: Marketing Plan (NFTE's 4 steps).

NFTE's 4 steps of a marketing plan typically include: identifying the target market, setting marketing objectives, developing marketing strategies, and implementing and evaluating the plan.

Define the following term: Market segmentation.

Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.

Define the following term: Sales forecasting.

Sales forecasting is the process of estimating future sales based on historical data, market trends, and other factors.

Define the following term: Smart Goals.

SMART goals are Specific, Measurable, Achievable, Relevant, and Time-bound objectives.

Define the following term: Target market.

A target market is a specific group of consumers at which a company aims its products and services.

Describe the key concept: NFTE's 5 P's of the marketing mix.

The 5 P's of the marketing mix are people, product, place, price, and promotion, which are key elements in marketing a product or service.

Importance of social media profiles for business purposes.

Social media profiles help businesses reach a wider audience, engage with customers, and promote their brand online.

Describe the key concept: Marketing functions (financing, risk management, selling, promotion, pricing, purchasing, marketing-information management).

Marketing functions include financing, risk management, selling, promotion, pricing, purchasing, and marketing-information management, all of which support the marketing process.

Describe the key concept: Promotional methods (advertising, public relations, personal selling, sales promotions).

Promotional methods are strategies used to inform, persuade, and remind customers about products, including advertising, public relations, personal selling, and sales promotions.

Describe the key concept: Customer Acquisition Cost.

Customer Acquisition Cost is the cost associated with convincing a customer to buy a product/service, including marketing and sales expenses.

Describe the key concept: Ways to get customer feedback (focus groups, interviews, surveys, national polls).

Customer feedback can be obtained through focus groups, interviews, surveys, and national polls to improve products and services.

Describe the key concept: Types of business (retail, distribution, manufacturer, wholesale).

Types of business include retail (selling to consumers), distribution (delivering products), manufacturer (making products), and wholesale (selling in bulk to retailers).

Define the following term: Bait and Switch.

Bait and switch is a deceptive marketing tactic where a low-priced item is advertised to attract customers, who are then encouraged to buy a more expensive item.

Define the following term: Break-even point (how to calculate).

The break-even point is calculated by dividing fixed costs by the difference between the unit selling price and variable cost per unit.

Define the following term: Cost Structure.

Cost structure refers to the types and relative proportions of fixed and variable costs that a business incurs.

Define the following term: Markup/markdown.

Markup is the amount added to the cost price of goods to cover overhead and profit. Markdown is a reduction from the original selling price.

Define the following term: Penetration pricing.

Penetration pricing is a strategy where a product is introduced at a low price to gain market share quickly.

Define the following term: Price Skimming.

Price skimming is a pricing strategy where a firm charges the highest initial price that customers will pay and then lowers it over time.

Define the following term: Price Gouging policy.

Price gouging policy refers to regulations that prevent sellers from increasing prices of essential goods to excessively high levels during emergencies.

Define the term: Pricing strategy (cost-based, competition-based, demand-based).

Pricing strategy refers to the method companies use to price their products or services, which can be based on cost, competition, or demand.

Define the term: Revenue Streams.

Revenue streams are the various sources from which a business earns money from the sale of goods or the provision of services.

Identify start-up costs and operating expenses (fixed and variable) for a new business.

Start-up costs are the initial expenses to start a business, while operating expenses are ongoing costs. Fixed expenses do not change with production, while variable expenses do.

Calculate the profit/loss per unit sold.

Profit/loss per unit sold = Sales Price - Variable expenses.

Define crowdfunding as it pertains to finances.

Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

Describe the personal risks involved in financing a business.

Personal risks in financing a business include losing personal savings, incurring debt, and potential financial instability.

What is involved in applying for a business loan?

Applying for a business loan involves preparing financial documents, a business plan, and meeting lender requirements.

Compare and contrast certificate of deposit, checking, money market, and savings accounts.

Certificates of deposit offer higher interest but less liquidity, checking accounts are for daily transactions, money market accounts offer higher interest than savings, and savings accounts are for storing money with some interest.

Explain the economics of one unit sale.

The economics of one unit sale refers to the cost and profit associated with selling a single unit of a product or service.

How do you calculate projected income?

Projected income is calculated by estimating future sales and multiplying by the expected price per unit, then subtracting expected expenses.

Define the following accounting terms: assets, liabilities.

Assets are resources owned by a business; liabilities are obligations or debts owed by a business.

Define the term: Active listening/recalling.

Active listening/recalling is the process of fully concentrating, understanding, responding, and remembering what is being said.

Define the term: Communication skills.

Communication skills are the abilities used to convey information effectively and efficiently.

Define the term: Email etiquette.

Email etiquette refers to the principles of behavior that one should use when writing or answering email messages.

Define the term: Interpersonal.

Interpersonal refers to interactions and relationships between people.

Define the term: Negotiation techniques.

Negotiation techniques are strategies used to reach agreements between two or more parties.

Define the term: Parts of a business letter.

Parts of a business letter include the heading, salutation, body, closing, and signature.

Define the term: Pitch.

A pitch is a presentation or speech that aims to persuade someone to buy or invest in a product, service, or idea.

Define the term: Portfolio (artifacts include - resume, job application, letter of references, awards, community service).

A portfolio is a collection of documents and artifacts that showcase a person's skills, qualifications, and achievements.

Describe how to understand and utilize the different types of virtual meeting platforms.

To understand and utilize virtual meeting platforms, one must learn the features, functions, and best practices for using tools like Zoom, Teams, or Google Meet.

Identify and demonstrate effective workplace communication.

Effective workplace communication involves clear, concise, and respectful exchange of information among colleagues.

List the characteristics of successful salespeople.

Successful salespeople are persuasive, persistent, knowledgeable, and have strong communication skills.

Describe effective written communication (polite vs vague or sarcastic).

Effective written communication is clear, polite, and direct, avoiding vagueness or sarcasm.

Characteristics and components of a pitch deck.

The key elements and features that make up a presentation used to provide an overview of a business plan to potential investors.

Define the following term: Characteristics and qualities of an entrepreneur.

Traits such as innovation, risk-taking, leadership, and persistence that are commonly found in successful entrepreneurs.

Principles of Entrepreneurship 4th Quarter EOC Review

Flashcard

•

Business

•

Vocational training

•

Practice Problem

•

Hard

Wayground Content

FREE Resource

Student preview

109 questions

Show all answers

FLASHCARD QUESTION

Front

Define the following term: Brand positioning.

Back

Brand positioning is the process of positioning your brand in the mind of your customers.

FLASHCARD QUESTION

Front

Define the following term: Digital marketing.

Back

Digital marketing is the use of digital channels to promote or market products and services to consumers and businesses.

FLASHCARD QUESTION

Front

Define the following term: Direct/indirect selling.

Back

Direct selling is selling products directly to consumers away from a fixed retail location. Indirect selling involves intermediaries such as retailers or wholesalers.

FLASHCARD QUESTION

Front

Define the following term: Inbound marketing.

Back

Inbound marketing is a business methodology that attracts customers by creating valuable content and experiences tailored to them.

FLASHCARD QUESTION

Front

Define the following term: Marketing.

Back

Marketing is the process of promoting, selling, and distributing a product or service.

FLASHCARD QUESTION

Front

Define the following term: Marketing concept.

Back

The marketing concept is the idea that businesses should strive to satisfy customer needs and wants while meeting organizational goals.

FLASHCARD QUESTION

Front

Define the following term: Marketing mix.

Back

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market, typically described as the 4 P's: product, price, place, and promotion.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

71 questions

Computer Organization and Architecture

Flashcard

•

University

116 questions

Sky HIgh unit 1 vocabulary

Flashcard

•

6th - 8th Grade

66 questions

L7-U1 WF

Flashcard

•

60 questions

Vocabulary Flashcards

Flashcard

•

University

59 questions

Learning and Development Course Oral Exam Preparation

Flashcard

•

University

56 questions

U2 tiếng anh

Flashcard

•

University

111 questions

Vocabulary Flashcards for Grade 13

Flashcard

•

University

125 questions

Cell Structure and Function-flash card

Flashcard

•

11th Grade

Popular Resources on Wayground

16 questions

Grade 3 Simulation Assessment 2

Quiz

•

3rd Grade

19 questions

HCS Grade 5 Simulation Assessment_1 2526sy

Quiz

•

5th Grade

10 questions

Cinco de Mayo Trivia Questions

Interactive video

•

3rd - 5th Grade

17 questions

HCS Grade 4 Simulation Assessment_2 2526sy

Quiz

•

4th Grade

24 questions

HCS Grade 5 Simulation Assessment_2 2526sy

Quiz

•

5th Grade

13 questions

Cinco de mayo

Interactive video

•

6th - 8th Grade

20 questions

Math Review

Quiz

•

3rd Grade

30 questions

GVMS House Trivia 2026

Quiz

•

6th - 8th Grade