Entrepreneurship - Ch. 5 Review (Market Your Business)

The marketing plan defines your market, identifies competitors, and identifies changes needed.

Planning, pricing, promoting, distributing, & selling used to determine needs of customers is

A product includes features, which are product characteristics that will satisfy customer needs

The price to charge for services can be determined by amount of time it takes to complete it

The _____ is the name, symbol, or design used to identify your product.

__ is a business's percentage of the total sales generated by all companies in the same market.

The blending of the 4 P's in marketing used to reach a target market is called the

The different products and services a business sells are its

__ is the amount earned as a result of the investment and is usually expressed as a percentage.

Discount pricing offers customers a reduced price.

_____ is creating an image for a product in the customer's mind.

Pricing that is determined by considering what competitors charge for the same good or service

Which of the following is NOT one of the 4 P's of marketing?

To use marketing concept successfully, businesses must be able to

___ is determined by using the wholesale cost of an item as the basis for the price charged.

A plan that identifies how your goals will be achieved for your business is called a

Based on the belief that certain prices have an impact on how customers perceive a product

Pricing that is determined by how much customers are willing to pay for a product or service is