WorksheetsMarketing and Sales Fundamentals Quiz 2.1
Total questions: 42
Worksheet time: 42mins
What is the primary purpose of marketing in a business?
To find customers, communicate value, earn trust, and get paid.
To manage internal operations and logistics.
To develop new products and services.
To handle employee relations and training.
What does the sales system focus on in a business?
Attracting and persuading people before a purchase.
Converting interest into a purchase and supporting the customer during and after.
Managing the supply chain and inventory.
Designing and manufacturing products.
Which of the following is NOT one of the three core skills in ESB Domain 2?
Interpret market research.
Analyze marketing processes.
Identify sales channel strategies.
Develop financial accounting systems.
What question does market research aim to answer?
"Who are we selling to, and why would they choose us?"
"How do we reach them and influence decisions?"
"Where/how do we actually sell and deliver a great experience?"
"What is the best way to manage our internal team?"
Why does market research matter for businesses?
It helps reduce risk before spending money and choose the best target customer.
It ensures compliance with government regulations.
It focuses on improving employee satisfaction.
It helps in designing new office spaces.
What is one of the key steps in market research to sell custom tumblers at school?
Set prices that make sense.
Ignore competitors and focus only on your product.
Avoid measuring your plan and rely on guessing.
Choose random designs without considering student preferences.
Which of the following is an example of psychographics in target market segmentation?
Age and income.
Location and neighborhood.
Values, interests, and lifestyle.
Shopping habits like online vs in-person.
What does identifying competitors in market research help prevent?
Buying products that no one wants.
Setting prices that are too high.
Ignoring customer preferences.
Focusing only on demographics.
Which of the following is NOT a common way to describe a target market?
Demographics.
Geographics.
Psychographics.
Random selection.
What is the benefit of defining a specific target market?
It makes designing your product, marketing, and pricing easier.
It allows you to sell to everyone without restrictions.
It eliminates the need for market research.
It focuses only on pricing strategies.
What does the target market for PSJA high school students tell you about where to sell?
Online platforms
After-school areas
Shopping malls
Cafeterias during lunch hours
Which of the following is an example of a value proposition?
Our product is the cheapest in the market.
For busy parents, H-E-B Curbside saves time with fast pickup and easy substitutions.
We offer a wide variety of snacks for everyone.
Our company has been in business for over 20 years.
What is the purpose of a value proposition?
To list all the features of a product
To communicate why buyers should choose you over competitors
To provide a detailed pricing breakdown
To explain the history of the business
What is an example of how pricing should connect to the customer?
Pricing should be random to attract attention.
Pricing should reflect the value and affordability for the target audience.
Pricing should always be the lowest in the market.
Pricing should be based solely on production costs.
What is one challenge students might face if they cannot explain their value proposition?
Difficulty in creating a product
Struggling with differentiation vs competitors
Lack of understanding of customer demographics
Inability to set up a business website
Which of the following factors is NOT typically considered when setting a price for a product?
Costs (materials, labor, fees)
Customer willingness to pay
Competitor prices
Weather conditions
What is the main characteristic of cost-plus pricing?
Matching or beating competitors' prices
Pricing based on perceived value
Adding a markup to the cost of production
Starting with a low price to gain customers quickly
Which pricing strategy involves starting with a low price to attract customers quickly?
Skimming
Penetration pricing
Value-based pricing
Competitive pricing
What is the goal of value-based pricing?
To match competitors' prices
To price based on perceived value
To start low and increase prices later
To add a markup to production costs
Which pricing strategy is commonly used for new technology products and involves starting high and lowering prices later?
Competitive pricing
Skimming
Penetration pricing
Cost-plus pricing
If a tumbler costs $8 to make and you want a $7 profit, what would the price be under cost-plus pricing?
$15
$18
$20
$10
What happens to demand if you raise the price of a product, according to the quick check section?
Demand increases
Demand decreases
Demand remains constant
Demand fluctuates unpredictably
What is primary data in market research?
Data collected directly for a specific purpose
Data already collected by others
Data that is always free and easy to obtain
Data that is irrelevant to business decisions
Which of the following is an example of primary data collection?
Census and population data
Focus groups
Industry reports
Online reviews of competitors
What is secondary data in market research?
Data collected directly for a specific purpose
Data already existing and created by someone else
Data collected through interviews
Data collected through product tests
Which of the following is an example of secondary data?
Observations (counting traffic in a hallway)
Product tests (taste tests; prototype feedback)
Census and population data
Interviews (asking students/parents)
What is one advantage of secondary data over primary data?
It is more accurate for your business
It is usually cheaper and faster to obtain
It requires more time and money to collect
It is always more specific to your needs
What is an example of a substitute product in competition evaluation?
A water bottle instead of a tumbler
A gym membership instead of free YouTube workouts
A DIY option like "make it myself"
A survey conducted by the company
Which of the following is NOT a factor to compare competitors on, according to the SBA framework?
Price
Quality/durability
Customer's personal preferences
Marketing strength
What does the SBA suggest as a way to make your business unique and find a competitive advantage?
Conducting a competitive analysis
Offering free products
Ignoring competitors
Focusing only on price
Which of the following is an example of a DIY option in competition evaluation?
Free YouTube workouts instead of a gym membership
A water bottle instead of a tumbler
"Make it myself"
Reading an industry report
What is an example of a different way to solve a problem in competition evaluation?
Free YouTube workouts instead of a gym membership
A survey conducted by the company
A water bottle instead of a tumbler
A DIY option like "make it myself"
What does a SWOT analysis organize information into?
Two categories: internal and external
Four boxes: strengths, weaknesses, opportunities, threats
Three sections: advantages, disadvantages, risks
Five elements: goals, risks, strategies, opportunities, threats
Which of the following is an example of a "Strength" in a SWOT analysis for a school snack cart?
Location near gym after school
High competition from other snack carts
Limited variety of snacks
Seasonal demand for snacks
What is the purpose of a SWOT analysis according to NN/g?
To analyze how a product or organization is positioned in the market and how well it can serve customers
To identify the financial performance of a product or organization
To create a marketing strategy for a product or organization
To evaluate customer satisfaction levels
Which of the following is an example of a unique angle for a student car-wash fundraiser?
Offering a free car wash for every subscription
"We come to you" convenience
Providing snacks during the car wash
Partnering with local car dealerships
Which of the following is a strength mentioned in the SWOT analysis?
Low prices and fast service
Limited inventory storage
Vending machines
New school policy restrictions
What is one of the weaknesses identified in the SWOT analysis?
Partnering with coaches for pre-game sales
Limited inventory storage
Accepting mobile payments
Offering "team bundles"
Which of the following is listed as an opportunity in the SWOT analysis?
Vending machines
Partnering with coaches for pre-game sales
New school policy restrictions
Another club starting the same idea
What is one of the threats mentioned in the SWOT analysis?
Student volunteers reduce labor cost
Offering "team bundles"
Vending machines
Accepting mobile payments
How does SWOT analysis help in decision-making?
By ignoring weaknesses
By focusing only on threats
By turning messy information into decisions
By avoiding opportunities
Which of the following is an example of fixing a weakness as per the SWOT analysis?
Partnering with teams
Using fast service messaging
Creating a storage plan
Offering "team bundles"
