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FBLA MARKETING WITH QUESTIONS AND 100% CORRECT ANSWERS
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FBLA MARKETING WITH QUESTIONS AND 100% CORRECT ANSWERS
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1/20 Pre JACKLINE FBLA MARKETING WITH QUESTIONS AND 100% CORRECT ANSWERS Terms in this set (93) 2/20 production -oriented company sales-oriented company marketing -oriented company. different philosophies about how to align and organize a business PRODUCTION ORIENTE D: chooses to ignore their customer's needs and focus only on efficient ly building a quality product. This type of company believes that if they can make the best 'mousetrap,' their customers will come to them. -price and quality have to be fair so product SELLS SALES ORIENTE D: -aggressive sale techniques -These include intensive promotion, such as advertising, and price-focused strategies. The sales- oriented business also relies on the strength of its sales force to move its products or services. -these companies are so focused on selling their products to their consumers that they pay little attention to other areas of marketing such as market research or surveying their customers to measure their level of satisfaction. -everyone is a potential customer MARKET ORIENTE D: -the customer is always right. -constantly monitor their customer's desires and are quick to change the product or service they offer to whatever best suits their customers What is marketing? -the action or business of promoting and selling products or services, including market research and advertising. -Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. -activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 8/1/24, 6:16 PM 3/20 Benefits of marketing -Increases visibility of your brand. -Develops lasting relationships with your audience. -Improves brand awareness and recognition. -Creates loyalty and trust, with both your current customers and prospects. -Helps you to build authority and credibility. -Positions your business as an expert in your industry. Functions of marketing -pricing (setting and communicating the value of products, make sure it is at right range) -Product/service management (improving existing products and developing new products) -Distribution (Determining the best ways for customers to locate,obtain,and use the products and services of an organization. Involves moving the product each step from the design idea to the consumer.) -Financing(Budgeting for marketing activities,obtaining the necessary funds needed for operations,and providing financial assistance to customers so they can purchase the business products and service.) -Information management (Obtaining,managing,and using information about what customers want to improve business decision making, performance of marketing activities, and determining what will sell.) -Selling (Communicating directly with potential customers to determine and satisfy their needs.) Promotion (Communicating with customers about the product to achieve the desired result --customer demand for and purchase of the product. Includes advertising, personal selling, publicity, and public relations.) Sole proprietorship A sole proprietorship is a unincorporated business owned by one individual, making it the simplest form of business to start and operate. no legal separation between the business and the owner in a sole proprietorship - the business is considered to be an extension of the owner and as such the owner is personally responsible for any debts or liabilities incurred by the business. Partnership A Partnership business is a legal relationship formed by the agreement between two or more individuals to carry on a business as co-owners The partnership income tax is paid by the partnership, but the profits and losses are divided among the partners, and paid by the partners, based on their agreement. FBLA MARKETINGThe benefits of buying summaries with Stuvia:
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