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WorksheetsESB Domain 2 Review Battle
Total questions: 48
Worksheet time: 29mins
A target market identifies the________ to which a company markets its products and services
Distribution channels
businesses
customer group
none of these
A value proposition is:
a statement that explains why a customer should do business with a company
a statement that explains why a manufacture should do business with a company
a statement that states the value of a compnay
none of these
A SWOT analysis documents a company’s strengths, weaknesses, _______, and threats
outside forces
options
occasion
none of these
Primary data is contains more _______ compared to secondary data.
bias
accuracy
information
errors
Secondary data often contains more
information
facts
errors
personal bias
is a business that sells similar products or services as another business
direct competition
indirect competition
perfect competition
monopolistic competition
Financial limitations would be an example of a/an _______in a SWOT analysis
strength
weakness
opportunity
threat
is a business that sells different products or services but is similar enough to be competitive with another business
monopolistic competition
perfect competition
direct competition
indirect competition
A marketing method that uses customized newsletters to engage with customers is
social media
messaging
all of these
The four segments of sales data are
behavioral , geographical, demographic, and personality
mentality, location, identification, lifestyle
mentality, location, demographic, lifestyle
behavioral , geographical, demographic, and psychographic
data that provides information about a customer’s age, gender, or ethnicity
behavioral
geographical
demographic
psychographic
A marketing method that uses ads on a website within a search engine is ______ advertising
pay-per-click
Display advertising
search advertising.
Native advertising
Investors use ______ to determine the cost of acquiring new customers
new business cost
new customer cost
customer acquisition costs
customer retention cost
The formula used to determine customer acquisition costs is
marketing expenses plus sales expenses divided by the number of new customers for the period
marketing expenses plus sales revenue divided by the number of new customers for the period
marketing revenue plus sales revenue divided by the number of new customers for the period
sales revenue plus marketing expenses divided by the number of new customers for the period
what provides an overview of the marketing plan ?
executive summary
business plan
lean canvas
none of these options are correct
It is more cost-effective to keep current customers than to acquire new customers
True
False
I don't know
Customer retention rates are found by ?
subtracting the number of new customers acquired during a period from the number of customers at the end of a period, then dividing by the number of customers from the start of the period and multiplying by 100.
adding the number of new customers acquired during a period from the number of customers at the end of a period, then dividing by the number of customers from the start of the period and multiplying by 100.
adding the number of new customers acquired all time , then dividing by the number of customers from the start of the company and multiplying by 100.
subtracting the number of new customers acquired all time, then dividing by the number of customers from the start of the company and multiplying by 100.
The FOUR P’s of the marketing mix are
product, price, place, promotion, and productivity
productivity, price, place, and promotion
product, pricing, position, and propaganda
product, price, place, and promotion
Developing a _______ is part of the preparation step of a sales process
sales promotion
sales presentation
business plan
set of guidelines
The last step in a sales process is ______
follow-up
approval
signing the papers
the actual sale
A business selling to another business is called
B2B(Business to Business)
BB(Business, Business)
BFB(Business for business)
none of these
Physical sales channels occur in person, where a customer can ask questions before purchasing
False
True
The main role of a customer service department is to cultivate _______ interactions with customers
professional
negative
entrepreneurial
positive
A business should have clear ______ on how the customer service team should respond to negative feedback.
strategies
guidelines
services
process
Which of the following is NOT a part of the marketing segments?
Behavioral
Demographic
Sociographic
Psychographic
What is the main role of the sale process?
To have positive interactions with customers
Set guidelines for employees
To have negative interactions with customers
To smooth the sales process
What are the two main sales channels?
Amazon and Costco
Online and In-Store
Digital and Physical
Target and Publix
Product, price, place, and promotion are the 4 P's of:
SWOT Analysis
Marketing Mix
Marketing Plan
Marketing Segments
What is an indirect competition?
A business that sells same or similar products
A business that sells similar products that meets the same need
Standing out from other competitors
2 types of competition
How many types of competition are there?
6
2
4
1
What is an example of secondary data?
Personal Bias
Bank Account
Interviews
Articles
If a company spends $10,000 on sales and $90,000 on marketing and they gain 10,000 customers. what is their Customer Acquisition Cost?
110
50
10
700
The four segments of data are:
(SELECT ALL THE APLLY)
Behavioral
Geographic
Demographic
Psychographic
Behavioral Data is collected by:
watching the behaviors of people on the street
analyzing the behavior of executives in the company
observing customers' behaviors to understand their buying habits
Geographical data provides companies with:
their customers' locations to see the areas with high and low sales volumes
the geography of the country they sell their product in
where everyone who is employed in the company is from
Demographic data is statistical information about their customers. Some examples of demographic data might be:
(SELECT ALL THAT APPLY)
age
gender
ethnicity
income
employment
Psychographic Data provides companies information about their customers':
(SELECT ALL THAT APPLY)
values
personality traits
motivations
how they view the world
If the CAC is high, the marketing is:
ineffective
effective
If Company 1 has a CAC of $10.92, and Company 2 has a CAC of $4.34, which company is doing better?
Company 1
Company 2
A Marketing Plan: (select one)
has no action plan but outlines how they plan to market
outlines a company's marketing strategies and should include actions that need to occur to reach the desired results
evaluates the market and need for the product, but has does NOT include how they will market to the public
Businesses that sell to other businesses who are the intended end user of the product.
Retail
Wholesale
Direct to Consumer
B2B
Which 2 ways can Customer Service and Support affect sales? (choose 2)
Closing the deal with rapid engagement
More Sales through Customer Evangelists
Increased Sales through Responsiveness and Personalization
Distributing marketing information
Coordinating shipping
Which 2 types of sales channels sell primarily to other businesses? (choose 2)
B2B
Direct-to-Consumer
Online
Retail
Wholesale
A local restaurant prides itself in having a high number of return customers. To build loyalty, the owner of the restaurant offers a free prime rib dinner (value $20) to any customer who purchases a meal during 10 previous visits. Meals purchased are tracked by stamps on a loyalty card.
At the end of the month, the owner decides to calculate the customer retention cost. The data is the following.
-Number of Customers at start of the month = 100
-Number of customers at the end of the month = 120
-Number of new customers= 40
-Value of free dinners redeemed = $240
What was the customer retention cost?
$2
$3
$12
$6
The owner of an organic pet food store would like to analyze the sales data to determine if the business is growing, declining or remaining flat. The owner has the following data.
-Sales revenue last year= $350,000
-Sales revenue current year= $402,500
10%
15%
13%
17%
You have opened a for-profit adult technical school and you want to advertise it to potential students throughout your state.
Which marketing method would be most appropriate?
Social Media
Local Television Ad
Distribute Flyers
Which 3 are online marketing platforms? (choose 3)
flyers and Pamphlets
TV ads
Google ads
Social Media
Which 2 are offline marketing platforms? (choose 2)
Google ads
Flyers and Pamphlets
TV ads
