Marketing Vocabulary Test

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Ulises and Soliana are working on a marketing project for their business class. They need to identify the 4 Ps of marketing to develop a successful strategy. What are the 4 Ps of marketing?

• Product, Price, Promotion, People

• Product, Price, Place, Promotion

• Price, Process, People, Promotion

• Product, Price, Packaging, Partnership

Alyssa is opening a new café andise deciding on the menu prices. What is a Price Point?

• The cost of producing a product

• A set price that is strategically chosen to attract consumers

• The average market cost for any item

• The lowest price a product can be sold for

Lizeth is starting a new company andise discussing their long-term goals. What is a Vision Statement?

• A detailed business plan

• A description of a company’s long-term aspirations

• The daily goals for the business

• The list of company values

During a school project, Sebastian were tasked with creating a brand for their new startup. He needed to design something that would visually represent their company. What should he create?

• A verbal description of a product

• A graphic symbol that represents a company or product

• A written report on consumer trends

• A list of services provided

What is Negative Name Recognition? For example, when Jose and Ana heard about the company XYZ, they immediately thought of the recent scandal it was involved in.

• When a company is not well known

• When consumers recognize a company for the wrong reasons

• When a company changes its name

• When a product is too expensive

Buying trends reflect what consumers are purchasing most often.

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Unbiased information is opinion-based and persuasive.

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Branding includes visuals, emotions, and messaging associated with a product.

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What is a crucial factor to consider when opening a food truck?

• Understanding target customer demographics

• Choosing a colorful truck design

• Hiring a celebrity chef

• Offering free samples