Busines Exploration

JEOPARDY!

Get ready to play…

Ms. Rabin

2007

Business Explorations

JEOPARDY!1. The room will be divided into two groups or teams.

2. Each side will take turns selecting a question.

3. Each person from the team will have a chance to answer (we will go up and down the rows with each question so everyone gets a chance).

4. If you cannot answer within 20 seconds, the other team will have a chance to answer.

5. If they cannot answer within 20 seconds, the original team can answer.

6. Incorrect answers in Double Jeopardy will be penalized—so be careful!

7. You may use your books/notes but hurry up! Time will run out!

8. There are 6 Daily Doubles.

9. A score keeper is needed.

10.Answers must be in the form of a question.

11.The team with the most money wins!

Let’s Play!

$500 $500 $500 $500$500

$400 $400 $400 $400$400

$300 $300 $300 $300$300

$200 $200 $200 $200$200

$100 $100 $100 $100$100

Terms PotpourriProductsDistribution

PLC

What is the Product Life Cycle?

A series of stages that take a product from its birth to it’s death.

PLC

What is Decline?

Sales volume fall greatly and profits are near zero.

PLC

What is Introduction?

Marketing challenge is to make potential customers aware of the product’s existence and features.

PLC

What is Growth?

The product is accepted by the public, target market has made repeat sales,

and profit begins to grow as does competition.

PLC

What is Maturity?

Slight decline in sales and decisions need to made about the product’s

line.

PLC

What is promotion?

Communication that is intended to inform, persuade, or remind an organization’s target segment.

Terms

What is a marketing plan?

Set of strategies for accomplishing marketing objectives.

Terms

What is an advertising agency?

An independent firm that plans, produces, and places ads for its

clients.

Terms

What is market segmentation?

Process of dividing a market by similar traits.

Terms

What is the marketing concept?

The process of satisfying a customer's needs while achieving the firm’s

goals.

Terms

What are intensive, selective, and exclusive?

The three types of distribution.

Distribution

What are retailers?

These are who middlemen/intermediaries sell goods to after purchasing in large quantities

from producers.

Distribution

What is True

The answer to the following True/False question:

The more marketing channels needed to get the product to the consumer, the higher the

price of the product will be.

Distribution

What are intermediaries or middlemen?

Marketing organizations that link producer and consumer within a

marketing channel .

Distribution

What are channels of distribution?

The series of buyers and sellers through whom goods pass on their way from the producer to the end

unit.

Distribution

What is Product Campaign?

All activities involved in developing and producing a container for a

product.

Products

What are form, time, place, and ownership?

The four utilities discussed in class.

Products

What is product mix?

General Mills selling yogurt, cereal, and baking products is an example

of this.

Products

What is a product line?

Kellogg’s producing Corn Flakes, Rice Krispies, Raisin Bran, etc, is an

example of this.

Products

What is price lining?

CD’s priced at $10, $20, and $30 is an example of this pricing strategy.

Products

What is “follow the leader”?

The pricing strategy that airlines use, focusing on the competition.

Potpourri

What is brand advertising?

The type of advertising that promotes brands of products or services and is

the most common form of advertising.

Potpourri

What are advertising, personal selling, sales promotion and public

relations?

Promotional mix indicates these four things.

Potpourri

What are product, price, place, and promotion?

The four P’s of marketing.

Potpourri

What is a cash discount?

When this is written on an invoice (2/10 net 30), this type of discount

is being given.

Potpourri