Bus. Own/Entre. - End of Year Review #4

Generally speaking, your marketing strategy will be determined mostly by your business's

• short term goals

• medium term goals

• long term goals

• all goals will be given equal weight when developing a marketing strategy

Product characteristics that will satisfy consumer needs are called

• packaging

• branding

• labeling

• features

Creating an image for a product in the customer's mind is called

• advertising

• positioning

• labeling

• distributing

A business's percentage of the total sales generated by all companies in the same market is called

• return on investment

• investment share

• market share

• saturation

Establishing informal ties with people who can help your business grow is called

• networking

• brainstorming

• selling

• promoting

Pricing that is determined by how much customers are willing to pay for a product or service is called

• supply-side pricing

• time-based pricing

• markup pricing

• demand-based pricing

This type of pricing technique starts out with a low introductory price with the goal of building a strong customer base.

• bundling

• penetration pricing

• price skimming

• prestige pricing

If a store sells snow shovels for half-price in the middle of the summer, the store is offering customers a

• cash discount

• quantity discount

• seasonal discount

• trade discount

The component of the marketing mix that involves the locations and methods used to make products available to customers is called

• promotion

• distribution

• selling

• shipping

In which of the following distribution options does the manufacturer not get involved in selling?

• manufacturer to consumer

• manufacturer to retailer to consumer

• manufacturer to agent to wholesaler to retailer to consumer

• the manufacturer is involved in selling in all of the distribution options