Agribusiness Exam #2

Includes demographics, economic climate, tech, political situation, legal, social & cultural

The demand for gasoline is ___ than the demand for Shell gasoline

The demand for domino's pizza is __ than the demand for pizza

Gives the background info & current situation on consumer needs, perceptions & buying trends

Gives detail info 4 each of the firm's current products, recent history of its sales & revenues

A firm's vision statement is

Superior customer responsiveness means a company

The best product of differentiation are those that are

A company that is consistently the first to introduce new technology and products has

If consumer trends create an increased for steak, the demand for pig feed a the local co-op

Wholesale, retail & direct sales are examples of

elasticity of a product if the price increases by 1% and the quantity demanded decreases by 1%

$ of a product increases by 1% & the quantity demanded decreases by .66%, the product would be

____is the total level of sales possible in a target market for all firms.

The company that is most efficient will

A firm's value statement is

Firms must provide customers in the target market with a ? that gives them maximum satisfaction

Which group is the best target market for organic fair trade baby food?

An estimation of market potential based on economic factors is known as the

The sales promotion strategy outlines___of the firms marketing plan.

The company that produces superior quality will

___operates on the idea that consumers have different needs.

elasticity of a product if the price increases by 1% & the quantity demanded decreases by .66%

If the price of peanut butter goes up significantly, the demand for jelly could be reduced

If the price of a product increases, demand will____

Sales will decrease greatly from a small increase in price if a product is

In market analysis, companies often use the ___ model

If price increases by 1% and the quantity demanded decreases by 1%, the product is described as

Which of the following is an element of a sustainable competitive advantage

The firms purpose should be widely agreed upon by all associates so to....

___is the level of sales a single firm can expect to receive from a target market.

Demand for fireworks increase just before Independence Day due to____

Implementation of a strategic plan must____

Which group is the best target market for caviar?

__is the percentage of total sales from the target market achieved by a single firm.

What is a target market?

The part of a business plan that details step by step how a firm is going 2 achieve its purpose

If increases in the price of tea could lead to an increased demand for coffee due to___

Which of the following is not one of Porter's Five Forces?

Which is not an example of product differentiation

If a person loses their job, their demand for drinking water will____

Competitive situation___ identified & described in terms of their size, goals, & market share

What does ROIC stand for

If consumer trends create an increased demand for steak, the demand for chicken will

Section of the plan that describes the distribution, logistic, & geographically limiting factor

Which group is best target market for malted milk shakes?

The part of a business plan that details what a firm is going to do is known as the

ECP=% change in quantity demanded/% change in price of competitor's product is the formula for

A firm's mission statement is

If the price of a product increases by 1% and quantity demanded decreases by 1.5%, the product