Business 101 Final Exam| Questions with Complete Solutions 100% Solved| Grade A+
industry shakeout widespread withdrawal of competitors from a market
maturity industry sales peak, prices fall, gains in profits
decline sales decline and the product eventually exits the market
example of decline block buster
what is the product life cycle introduction, growth, maturity, decline
sales orientation maximize volume sold
profit orentation maximize profit or return on investment
competitor orientation set prices relative to competitors
luxury orientation maximize price
propaganda Ideas spread to influence public opinion for or against a cause.
example of propaganda We can do it poster for women in work
what are the 5 elements of promotional mix public relations, sales promotion, personal
selling, direct marketing, advertising
, advertising communication via third party
public relations publicity to build community
sales promotion excitement building programs
personal selling two-way communication between buyer and seller
direct marketing individualized targeting to solicit a response
what are the promotional objectives and the product life cycle? informative, persuasive,
reminder
AIDA Awareness, Interest, Desire, Action
example of AIDA funnel (think, feel, do) AIDA (A is at the top)
wholesalers Intermediaries between producers and retailers or other businesses
retailers The final link in the distribution chain who sells directly to consumers.
agents Facilitators who do not take ownership of goods but help arrange sales.
qualities of an effective channel efficient, sorts, facilities, manage risks, standardizes
industry shakeout widespread withdrawal of competitors from a market
maturity industry sales peak, prices fall, gains in profits
decline sales decline and the product eventually exits the market
example of decline block buster
what is the product life cycle introduction, growth, maturity, decline
sales orientation maximize volume sold
profit orentation maximize profit or return on investment
competitor orientation set prices relative to competitors
luxury orientation maximize price
propaganda Ideas spread to influence public opinion for or against a cause.
example of propaganda We can do it poster for women in work
what are the 5 elements of promotional mix public relations, sales promotion, personal
selling, direct marketing, advertising
, advertising communication via third party
public relations publicity to build community
sales promotion excitement building programs
personal selling two-way communication between buyer and seller
direct marketing individualized targeting to solicit a response
what are the promotional objectives and the product life cycle? informative, persuasive,
reminder
AIDA Awareness, Interest, Desire, Action
example of AIDA funnel (think, feel, do) AIDA (A is at the top)
wholesalers Intermediaries between producers and retailers or other businesses
retailers The final link in the distribution chain who sells directly to consumers.
agents Facilitators who do not take ownership of goods but help arrange sales.
qualities of an effective channel efficient, sorts, facilities, manage risks, standardizes
