1st meeting Flashcards
1
Q
An act of setting up a business, setting financial risk in the hope of profit.
A
Entrepreneurship
2
Q
2 types of marketing
A
- an act of buying and selling
(traditional) - research and customer relation (modern)
3
Q
4P’s of Marketing
A
- product
- place
- promotion
- price
4
Q
actual product
A
tangible
5
Q
services
A
intangible
6
Q
uniqueness of the product
A
features
7
Q
entrepreneurs must know their _____ in order to keep up
A
advantage
8
Q
entrepreneurs build _____ to be chosen
A
benefits
9
Q
F-
A-
B-
A
feature
advantage
benefits
10
Q
knowing if product is affordable
A
environmental scanning
11
Q
S-
W-
O-
T-
A
strength
weakness
opportunity
threat
12
Q
it is divided by 2 parts: negative and positive
A
swot analysis
13
Q
2 types of product
A
tangible
intangible
14
Q
another term in business of convenience
A
distribution
15
Q
factors of distribution
A
retailer
reseller
agent
