Business Concepts Review

Which of the following best describes the role of "Place", also known as "Distribution" in the marketing mix?

• Deciding on the features and design of a product.
  

• Choosing the most effective methods to deliver products to customers.
  

• Setting a price that appeals to the target market.
  

• Developing promotional strategies to increase awareness.

Fill in the blank: The role of supply chain management is to oversee the flow of goods and services and includes all processes that transform raw materials into final ______.

• Products

• Services

• Ideas

• Concepts

A key difference between S Corporations and C Corporations is:

• S Corporations are taxed at the corporate level only.
• S Corporations are pass-through entities for tax purposes, while C Corporations are taxed at both corporate and shareholder levels.
• C Corporations are pass-through entities for tax purposes.
• S Corporations can have unlimited shareholders while C Corporations cannot.

Marketing involves:

• Buying and selling

• Advertising and promotion

• Hiring and training

• Producing and manufacturing

Management functions include:

• A) Planning, Organizing, Leading, Controlling

• B) Selling, Advertising, Promoting, Branding

• C) Designing, Developing, Testing, Launching

• D) Buying, Selling, Trading, Investing

A Mission Statement is ______.

• A detailed financial report

• A statement of the company's purpose and values

• A list of products offered

• A marketing strategy

What is the primary goal of a business?

• inventions

• management

• ethics

• profit

A company is launching a new line of affordable and trendy school supplies. Their marketing campaign specifically targets students aged 13-18 and parents with children in middle and high school. What type of market segmentation is the company using?

• Demographic segmentation
• Geographic segmentation
• Psychographic segmentation
• Behavioral segmentation

Preferential marketing is defined as ______.

• Marketing that targets specific customer preferences

• A type of compensation

• A financial statement

• A business structure

___ is an example of how a company using Functional Departmentalization structures its organization.

• A company that organizes its teams based on product lines rather than functions.
• A company organized with separate departments for marketing, finance, and human resources.
• A company that uses a matrix structure combining different departments for project management.
• A company with a flat organizational structure and no distinct departments.