Entrepreneurship Unit 6 Review

What is the vocab term for creating an exchange for a product/service?

• marketing mix

• marketing

• promotional mix

• selling

What is the vocabulary term for the direct type of customer you focus marketing strategies toward?

• marketing mix

• consumer

• customer

• target market

What is the vocabulary term for a product being sold and all the producers are selling that particular product?

• Industry

• Market

• Market Share

• Industry Share

What is the vocabulary term for the total dollar amount sold by a company divided by the total dollar mount in the market?

• Industry

• Market

• Market Share

• Industry Share

What is the vocabulary term for the total dollar amount sold by all competitors within a particular industry?

• Industry

• Market

• Market Share

• Industry Share

A(n) _____ competitor is within the same industry and selling the same product.

A(n) _____ competitor offers substitutes for a product, but not the exact same product.

What is the vocabulary term for the income remaining after taxes, other mandatory charges, and needs?

• competitive analysis

• market

• wants

• discretionary income

What is the vocabulary term for how consumers see your products compared to your competition?

• Competitive analysis

• Competitive Advantage

• Product Positioning

• Non-price Competition

What is the vocabulary term for a name, symbol, or design used to identify a product?

• Competitive analysis

• Competitive Advantage

• Product Positioning

• Brand