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Intro to Business&Marketing Study Guide
Woodgrove high School Intro to Business&Marketing Class Teacher: Mrs. Hobbs Study Guide for Final Exam
Terms in this set (28)
people (bc success is dependent on good employees and customers)
What is the 5th addition to marketing mix?
Distribution, Financing, Marketing Information Management, Pricing, Product/Service Management
What are the functions of marketing?
product, place, price, promotion
What are the parts of the marketing mix?
Hint: 4 P's
facts about the population; age, gender, location, and income levels
understand the needs and wants of customers-market research
What does a company need to understand in order to successfully market a product?
analyze and label their target markets
What do companies need to know prior to deciding how and what to sell?
focusing on who is most likely & willing to buy goods or services
Define Target Marketing
test design and expose functionality or issues during product development
what is a prototype's use?
to see if the product is likely to be a success-collect customer feedback
goal of test marketing
generate ideas, screen ideas, develop a bus. plan, develop the product, test-market the product, introduce the product, evaluate customer acceptance
what are the steps of product development?
What is the main ad.ing med in US?
med. that provides the longest exposure?
what is an infomercial?
depends the target market it wants to reach
what determines type of med an advertiser uses?
is the process of selecting advertising media and deciding the time&space in which ads should apppear
define media planning
Nielsen Media Research
Name of group that measures tv audiences?
write a job description
what is the first step a human resource manager must complete when filling a job?
detailed outline of the duties, qualifications, and conditions required to do a specific job
what is a job description?
finding, selecting, training, and evaluating employees
what is involved in the process of managing human resources?
shared values, beliefs, and goals of a company
define corporate culture
what age group makes up the majority of the American workforce?
to project whether a new business or project is financially viable
What is the purpose of a financial plan?
systematic process of recording and reporting the financial position of a person or org
creditors' claims to the assets of a business
digital subscriber line
what is DSL?
covers only certain parts of the product or requires customer to bear some of the expenses in case repairs are needed
warranty that is explicitly stated
interest rate, length of time of loan, amount of $ loaned
factors amount of interest is dependent on
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