QUESTIONS WITH SOLUTIONS GRADED A+
●● value creation.
Answer: the performance of actions that increase the worth of goods,
services, or even a business
●● sales process.
Answer: incorporates actually selling the company's products or service
to its customers
●● personal selling.
Answer: a type of selling that uses person-to-person interaction to sell
products and services
●● customer loyalty.
Answer: having a positive attitude toward a product or brand, which
includes supportive behavior from the customer
●● brand trust.
Answer: the willingness of the average consumer to rely on the ability of
the brand to perform its stated function
,●● conversion rates.
Answer: the percentage of prospective customers who take a specific
action you want
●● sales forecast.
Answer: the process of estimating future sales
●● operational budget.
Answer: a plan for expenditures required to maintain the functioning of
a business venture or public organization
●● product-market fit.
Answer: degree to which a product satisfies a strong market demand
●● corporate structure.
Answer: an organization's different departments or business units within
a company to achieve its overall mission and goals
●● functional structure.
Answer: an organization structure that groups employees according to a
specialized or similar set of roles or tasks
●● modular structure.
,Answer: divides the business into small, tightly knit SBUs, which focus
on specific elements of the organizational process
●● strategic business unit.
Answer: a profit center that focuses on product offering and market
segment
●● competitive advantage.
Answer: a condition or circumstance that puts a company in a favorable
or superior business position
●● sustainable competitive advantage.
Answer: company assets, attributes, or abilities that are difficult to
duplicate or exceed and provide a superior or favorable long-term
position over competitors
●● customer relationship management (CRM).
Answer: processes implemented by a company to handle its contact with
customers with the goal of creating a unified customer experience to
maximize retention
●● business intelligence (BI).
Answer: the use of data in an enterprise to facilitate decision-making. It
encompasses understanding the actual operation of the company, as well
, as the anticipation of future events, with the aim of providing knowledge
to support business decisions
●● big data analytics.
Answer: large, complex data sets that require non-traditional data
processing software to predict trends and forecasts
●● organizational ethics.
Answer: the principles and standards by which businesses operate and it
is how an organization responds to an internal or external stimulus
●● marketing concept.
Answer: identifying customer needs and then producing the goods or
services that will satisfy those needs while making a profit for the
organization
●● "right" principle.
Answer: getting the right goods or services to the right people at the
right place, time, and price, using the right promotional techniques
●● promotion.
Answer: the attempt by marketers to inform, persuade, or remind
consumers and industrial users to engage in the exchange process