Marketing Management IA2 Review Day 1

Marketing Management IA2 Review Day 1

Marketing Management IA2 Review Day 1

by Taylor Ramp

​IA2 Review..

Let's see what you remember...

Multiple Choice

Small Business Administration estimates that slightly less than _____ of new small businesses close during their first year of operation.

• 1/2

• 1/3

• 1/4

• 2/3

Multiple Choice

Expenses that do not change from month to month. Example would be rent for a retail space. 

• Variable Expense

• Fixed Expense

• Predatory Pricing

• Base Expense 

Multiple Choice

True or False. A business wants to get the MAXIMUM number and quality of products for the LEASE amount of labor. 

• True

• False 

Multiple Choice

When trying to calculate the actual cost of an employee, you multiple the base salary by what?

• 2.5 - 3

• 3 - 4.5

• 1.25 - 1.4

• 1

Multiple Choice

Who has the best retention rate? 

• Target 10%

• Starbucks 1%

• Costco 94%

• Walmart 54%

Multiple Choice

The value you lose by deciding to purchase or invest in one thing over another is _________.

• Comparative Advantage

• Opportunity Cost

• Deficits

• Protectionism

Multiple Choice

An individual's closely-held beliefs about which personal behaviors are acceptable or unacceptable

• Morals

• Ethics

• Legal 

• Perception

Fill in the Blanks

Jason runs a tshirt design company. This past weekend he earned $500.00. He had to purchase supplies of ink and stencils or $125.00. He also had to pay a part-time employee $75.00 to help on Saturday. What was Jason's net income for this past weekend?

​Breakout Rooms of the Day...

​1. Study Guide

​2. Cycle Project

​3. Flashcards

​4. Conference

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