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WorksheetsESB Domain 2: Marketing and Sales
Total questions: 45
Worksheet time: 23mins
What is a target market?
A group of customers that will buy a product or service.
A list of potential suppliers for a business.
A collection of competitors in the same industry.
A database of all employees in a company.
How does identifying a target market help a business?
It helps focus on the area where most sales will occur.
It increases the number of employees.
It reduces the cost of production.
It eliminates the need for advertising.
What should a business consider when determining the price of products and services?
The target market and how much they are willing to pay.
The cost of raw materials only.
The number of competitors in the market.
The distance from the supplier.
What is a value proposition?
A statement of a company's financial status
A description of a company's organizational structure
A statement of why a customer should do business with a company
A list of a company's products and services
What is primary data?
Data from academic journals
Data from first-hand accounts like interviews and surveys
Data from online articles
Data from company reports
Why is it important to use trusted data sources when determining target markets?
To save time
To get accurate information
To increase sales
To reduce costs
What is secondary data?
Data collected from interviews
Data that interprets primary data and often includes personal bias
Data from surveys
Data from direct observations
What is direct competition?
A business that sells different products in the same industry.
A business that sells the same or similar products or services.
A business that sells unrelated products.
A business that operates in a different market.
Which of the following is an example of indirect competition?
A nearby sandwich shop competing with another sandwich shop.
A bakery competing with an ice cream parlor.
A bookstore competing with a library.
A coffee shop competing with a tea shop.
What does SWOT stand for in a SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
Strategies, Weaknesses, Options, Tactics
Strengths, Weaknesses, Options, Tactics
Strategies, Opportunities, Threats, Weaknesses
Which of the following is considered an internal factor in a SWOT analysis?
Opportunities
Threats
Strengths
External factors
In a SWOT analysis, which factor is categorized as external?
Strengths
Weaknesses
Opportunities
Internal factors
What are the three main benefits of marketing for a company?
Builds the brand, attracts leads, increases sales
Reduces costs, decreases competition, lowers prices
Increases taxes, limits growth, reduces workforce
Builds the brand, decreases sales, attracts competition
What is considered the most dominant medium for marketing?
Radio advertising
Social media advertising
Television advertising
Print advertising
What is an example of a digital marketing platform?
Newspaper
Billboard
Which of the following is a physical marketing tool?
What type of data is used to understand the buying habits of customers, such as their wants and needs?
Geographical data
Demographic data
Behavioral data
Psychographic data
Which type of data shows the location of a sale to indicate areas of high and low sales volumes?
Demographic data
Geographical data
Psychographic data
Behavioral data
What type of data reveals statistical information about customers, such as age and ethnicity?
Psychographic data
Behavioral data
Demographic data
Geographical data
Which type of data reveals customer values and motivations, including their views of the world?
Behavioral data
Geographical data
Demographic data
Psychographic data
What does CAC stand for in business terminology?
Customer Acquisition Costs
Customer Analysis Chart
Cost Allocation Calculation
Customer Activity Count
How is the Customer Acquisition Cost (CAC) calculated?
(Marketing Expense + Sales Expense) / Number of new customers
(Marketing Expense - Sales Expense) * Number of new customers
(Marketing Expense * Sales Expense) + Number of new customers
(Marketing Expense / Sales Expense) - Number of new customers
What is the first step in calculating customer retention costs?
Divide the number of customers at the end by the number at the start
Subtract the number of new customers acquired from the number of customers at the end
Multiply the number of customers at the start by 100
Add the number of new customers to the number at the start
What is the final step in calculating customer retention costs?
Subtract the number of new customers from the total
Divide the number by the number of customers at the start
Multiply the number by 100
Add the number of new customers to the total
What is one of the purposes of a marketing plan?
To provide direction for future projects
To increase production costs
To hire new employees
To reduce product quality
What does a marketing plan outline?
Financial statements
Marketing strategies
Employee benefits
Office locations
What is included in the Executive Summary of a marketing plan?
Overview & summary
Details marketing efforts
Outline products & services
Actions that need to occur
What does a Situation Analysis in a marketing plan contain?
Mission Statement
SWOT analysis
Target Market specifics
Budget details
What is the focus of the Target Market section in a marketing plan?
Specifics about your customer
How products are delivered
Marketing Mix
Budget allocation
What does the Delivery Plan section outline in a marketing plan?
Marketing Mix
Products & services and how they are sold & delivered
SWOT analysis
Mission Statement
What are the 4 P's in the Marketing Mix?
Product, Price, Place, Promotion
Plan, Process, People, Profit
Purpose, Position, Price, Product
Promotion, People, Process, Plan
Which of the following is NOT one of the 4 P's of Marketing?
Product
Price
People
Promotion
What does the 'Place' in the 4 P's of Marketing refer to?
The cost of the product
Where customers can purchase
The advertising strategy
The design of the product
In the 4 P's of Marketing, what does 'Price' refer to?
The location of the store
The quality of the product
How much you sell it for
The type of advertising used
Which 'P' in the 4 P's of Marketing is associated with advertising?
Product
Price
Place
Promotion
What is the first step in the sales process?
Presentation
Prospecting
Closing
Follow-up
Which step involves handling concerns and problems?
Approach
Objection
Preparation
Follow-up
During which step does the customer decide to buy?
Closing
Presentation
Approach
Follow-up
What is the final step in the sales process?
Presentation
Preparation
Follow-up
Objection
What is a key advantage of digital sales channels?
They allow a company to reach a greater number of customers.
They provide an in-person experience.
They eliminate shipping costs.
They require physical store locations.
What is a drawback of digital sales channels?
They require physical store locations.
They need to pay shipping costs.
They limit customer reach.
They provide an in-person experience.
What is a characteristic of physical sales channels?
They are made over the internet.
They require shipping costs.
They are brick stores where customers can purchase items.
They reach a greater number of customers.
What is one of the key aspects of cultivating and maintaining customer service?
Providing discounts
Cultivating and maintaining ongoing positive interactions
Offering free products
Reducing service hours
Which of the following is NOT a guideline for handling problems or negative feedback in customer service?
Address by name
Apologize to customer
Ignore the feedback
Empathize
What should you do to let customers know you are working to solve their problem?
Offer a refund immediately
Let them know you are working to solve the problem
Avoid communication
Transfer them to another department
