Fbla Marketing Test Questions Practice
Questions And Answers With Verified
Solutions 100% Correct Latest Updated
2024
basic marketing functions - ANSWER✔✔promotion
selling
product/service management
marketing info management
pricing
financing
distribution
production oriented companies - ANSWER✔✔the company focuses on building
high quality products instead of meeting customers needs
sales oriented company - ANSWER✔✔buisnesses that focus most efforts on
developing sales to promote and sell products or services
marketing orinted company - ANSWER✔✔buisness focuses on finding out what
customers want and creating products and designing for thoes customers
Marketing concept - ANSWER✔✔preoccupied with the idea of satisfying the
needs of the customer by means of the product as a solution to the customer's
problem (needs
Benefits of marketing - ANSWER✔✔helps businesses increase brand awareness
,helps sell more products
marketing enhances businesses reupattion
. Explain the functions involved in marketing goods and services. -
ANSWER✔✔marketing information management, financing, product and service
management, pricing, promotion, selling, and distribution.
types of business owner ships ( contrast) ( compare) (explain) -
ANSWER✔✔PARTNERSHIPS= two or more people
LIMITED LIABILITY COMPANY =one or more people
CORPORATION C = one or more people
CORPORATION S = cant be over 100 people and have to be U.S citizens only
SOLE- PROPRIETORSHIP = A partnership involves two or more people who
combine resources for the business and share profits and losses
FRANCHISE = A franchise is a joint venture between a franchiser and a
franchisee.It sells the right to use its name and idea.
LICENSING= Business licenses are permits issued by government agencies that
allow individuals or companies to conduct business within the government's
geographical jurisdiction.
, Identify marketing mix ( price, product, place and promotion) -
ANSWER✔✔PRODUCT= a product is an object, or system, or service made
available for consumer use as of the consumer demand
PRICE= A price is the quantity of payment or compensation expected, required, or
given by one party to another in return for goods or services
PLACE= the entire process of taking a product from the manufacturer and making
it accessible to the consumer, which can include online or in other stores around he
world.
PROMOTION= promotion refers to any type of marketing communication used to
inform target audiences of the relative merits of a product, service, brand or issue,
its contribution to successful marketing is because It helps you to define your
marketing options in terms of price, product, promotion, and place so that your
offering meets a specific customer need or demand ultimately making you
successful.
The concept of marketing mix - ANSWER✔✔includes multiple areas of focus as
part of a comprehensive marketing plan and It helps you to define your marketing
options
Key types of marketing strategies mix - ANSWER✔✔EXPANSION = A company
increases the number of product lines or depth( product variations)
CONTRACTION = A company narrows its product mix to eliminate lower-
performing products or lines or to simplify remaining products or lines.
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