deca entrepurer
BUSINESS LAW (BL)
Q: What are methods to protect intellectual property? A: Patents, trademarks, copyrights, and trade secrets
Q: What are basic torts relating to business? A: Negligence, intentional interference, fraud, defamation, and product liability
Q: What makes a contract legally binding? A: Offer, acceptance, consideration, legal capacity, and legal purpose
Q: What are key human resources regulations? A: Equal employment opportunity laws, wage and hour laws, workplace safety regulations, and labor relations laws
Q: What workplace regulations does OSHA enforce? A: Occupational Safety and Health Administration ensures safe working conditions, hazard communication, and injury reporting
Q: What are the types of business ownership? A: Sole proprietorship, partnership, corporation, LLC, and cooperative
Q: What tax regulations affect businesses? A: Income tax, payroll tax, sales tax, property tax, and excise taxes
Q: What are businesses' reporting requirements? A: Tax filings, financial statements, regulatory compliance reports, and employment records
COMMUNICATION SKILLS (CO)
Q: What should complex written reports include? A: Executive summary, methodology, findings, analysis, conclusions, and recommendations
Q: What are key elements of business proposals? A: Problem statement, proposed solution, timeline, budget, qualifications, and expected outcomes
CUSTOMER RELATIONS (CR)
Q: What is management's role in customer relations? A: Set standards, train staff, resolve issues, monitor satisfaction, and build loyalty programs
Q: What is a company's brand promise? A: The value and experience customers can expect consistently from the company
ECONOMICS (EC)
Q: How do small businesses impact market economies? A: Create jobs, drive innovation, increase competition, and provide specialized products/services
Q: What is private enterprise? A: Business owned and operated by individuals rather than government, driven by profit motive
Q: What factors affect business profit? A: Revenue, costs, pricing, market demand, competition, and efficiency
Q: What factors affect business risk? A: Market conditions, competition, economic climate, regulations, and management decisions
Q: What is competition in business? A: Rivalry among businesses for customers, market share, and resources
Q: What is the relationship between government and business? A: Government regulates, taxes, provides services, and can support or restrict business activities
Q: What is the nature of taxes? A: Mandatory payments to government based on income, sales, property, or other factors
Q: What are economies of scale? A: Cost advantages from increased production volume, reducing per-unit costs
EMOTIONAL INTELLIGENCE (EI)
Q: What is the nature of ethics? A: Moral principles governing behavior, distinguishing right from wrong in business decisions
Q: What causes ethical dilemmas? A: Conflicting values, pressure for results, unclear guidelines, and competing stakeholder interests
Q: How do you respond to ethical dilemmas? A: Identify the issue, consider stakeholders, evaluate options, apply ethical principles, and act with integrity
Q: What is cultural sensitivity? A: Awareness and respect for different cultural values, beliefs, and practices
Q: How do you leverage personality types in business? A: Understand differences, adapt communication, assign appropriate roles, and build diverse teams
Q: How do you "sell" ideas to others? A: Understand audience, present benefits, address concerns, use persuasive communication, and demonstrate value
Q: What are negotiation skills? A: Active listening, finding common ground, making concessions, and achieving win-win outcomes
Q: How do you encourage team building? A: Foster collaboration, set shared goals, celebrate successes, and create trust
Q: What is leadership? A: Influencing and guiding others toward achieving common goals
Q: What is personal vision? A: Clear picture of desired future achievements and goals that guide decisions
Q: What does it mean to demonstrate adaptability? A: Adjusting to change, remaining flexible, and finding solutions in new situations
Q: What is achievement orientation? A: Drive to meet or exceed standards and continuously improve performance
Q: How do you enlist others in working toward a shared vision? A: Communicate vision clearly, show benefits, involve others in planning, and inspire commitment
Q: How do you act as a role model? A: Demonstrate organizational values, maintain high standards, lead by example, and show integrity
Q: How do you recognize and reward others? A: Acknowledge contributions, provide specific praise, offer incentives, and celebrate achievements
Q: What are stakeholder expectations? A: What different groups (customers, employees, investors, community) want from the business
Q: How do you establish strategic relationships? A: Identify key partners, build trust, create mutual value, and maintain regular communication
Q: How do you leverage business relationships? A: Use connections for opportunities, share resources, collaborate on projects, and expand networks
ENTREPRENEURSHIP (EN)
Q: What is the nature of entrepreneurship? A: Identifying opportunities and creating value through innovation, risk-taking, and resource organization
Q: What are entrepreneur role requirements? A: Visionary, risk-taker, decision-maker, manager, innovator, and leader
Q: What is business ethics in entrepreneurship? A: Honest dealings, fair treatment, social responsibility, and transparent operations
Q: What are small-business opportunities in international trade? A: Exporting, importing, licensing, franchising, and e-commerce across borders
Q: Why is entrepreneurial discovery needed? A: To identify unmet needs, market gaps, and innovative solutions
Q: What are entrepreneurial discovery processes? A: Market research, trend analysis, customer feedback, brainstorming, and observation
Q: How do you assess global trends and opportunities? A: Analyze international markets, identify emerging needs, evaluate economic conditions, and research cultural factors
Q: How do you determine opportunities for venture creation? A: Identify problems to solve, analyze market gaps, assess personal skills, and evaluate resources
Q: How do you assess opportunities for venture creation? A: Evaluate market size, competition, profitability potential, feasibility, and personal fit
Q: How do you generate venture ideas? A: Brainstorm, observe trends, solve personal problems, research industries, and network
Q: How do you determine feasibility of venture ideas? A: Test market demand, calculate costs, assess competition, evaluate skills needed, and analyze profitability
Q: What are entrepreneurial planning considerations? A: Market opportunity, resources needed, competition, regulations, and scalability
Q: What tools do entrepreneurs use for venture planning? A: Business model canvas, SWOT analysis, feasibility studies, and financial projections
Q: What are start-up requirements? A: Capital, location, equipment, inventory, licenses, and initial team
Q: What risks are associated with ventures? A: Financial loss, market rejection, competition, regulatory changes, and operational challenges
Q: What external resources are useful during concept development? A: Mentors, advisors, SCORE, SBA, incubators, and industry experts
Q: When should you use external resources for concept development? A: When lacking expertise, needing validation, seeking funding, or facing complex decisions
Q: What are strategies to protect intellectual property? A: File patents, register trademarks, use NDAs, and maintain trade secrets
Q: How do you use business plan components to define venture idea? A: Executive summary describes concept, market analysis shows opportunity, operations plan explains execution
Q: What are processes to acquire financial resources for ventures? A: Personal savings, loans, investors, crowdfunding, and grants
Q: What sources finance venture creation? A: Banks, angel investors, venture capitalists, SBA loans, and personal funds
Q: What factors determine human resources needs? A: Business size, complexity, skills required, budget, and growth plans
Q: What are considerations for hiring staff? A: Cost vs. benefit, workload, expertise needed, and long-term needs
Q: What are considerations in selecting capital resources? A: Cost, quality, capacity, flexibility, and technology requirements
Q: How do you identify capital resources needed? A: Assess production needs, evaluate technology requirements, consider growth, and analyze budget
Q: How do you assess costs/benefits of resources? A: Compare purchase price vs. value created, ongoing costs, efficiency gains, and ROI
Q: Why establish banking procedures? A: Manage cash flow, track transactions, maintain records, and build credit
Q: How do you use external resources to supplement expertise? A: Hire consultants, outsource tasks, join trade associations, and attend training
Q: What is the complexity of business operations? A: Interdependent functions requiring coordination of resources, people, and processes
Q: How do you evaluate risk-taking opportunities? A: Assess potential rewards, calculate probability of success, consider alternatives, and evaluate resources at stake
Q: Why are business systems and procedures needed? A: Ensure consistency, efficiency, quality control, and scalability
Q: What is the use of operating procedures? A: Standardize tasks, train employees, maintain quality, and improve efficiency
Q: What are methods for organizing workflow? A: Process mapping, task prioritization, delegation, and scheduling systems
Q: How do you develop and provide product/service? A: Design offering, source materials, establish processes, ensure quality, and deliver to customers
Q: How do you use creative problem-solving in business? A: Think innovatively, challenge assumptions, explore alternatives, and implement novel solutions
Q: What is the impact of resource productivity on venture success? A: Higher productivity means lower costs, better margins, competitive advantage, and faster growth
Q: How do you create processes for ongoing opportunity recognition? A: Monitor trends, gather customer feedback, track competitors, and encourage innovation
Q: How do you develop plan to invest in product improvement? A: Allocate budget, prioritize features, schedule development, and plan testing
Q: How do you adapt to changes in business environment? A: Monitor trends, stay flexible, update strategies, and embrace innovation
Q: Why is continuation planning needed? A: Ensure business sustainability, prepare for transitions, protect value, and plan succession
Q: What are methods of venture harvesting? A: Selling business, going public, merging, liquidating, or passing to family
Q: What are options for continued venture involvement? A: Full ownership, partial ownership, advisory role, or complete exit
Q: How do you develop exit strategies? A: Plan timing, identify buyers, maximize value, consider tax implications, and prepare transitions
FINANCIAL ANALYSIS (FI)
Q: What is the concept of accounting? A: Systematic recording, reporting, and analysis of financial transactions
Q: What is a balance sheet? A: Financial statement showing assets, liabilities, and equity at a specific date
Q: What is an income statement? A: Financial statement showing revenues, expenses, and profit over a period
Q: How do you prepare cash flow statements? A: Track cash from operations, investing, and financing activities over a period
Q: Why is obtaining business credit important? A: Enables growth, manages cash flow, builds credibility, and provides financial flexibility
Q: How do you analyze critical banking relationships? A: Evaluate services offered, fees, loan terms, accessibility, and relationship quality
Q: How do you make critical decisions regarding bank cards? A: Consider transaction fees, processing costs, customer convenience, and fraud protection
Q: How do you determine financing needed for operations? A: Calculate cash requirements, assess timing of expenses/revenues, and identify funding gaps
Q: What risks are associated with business credit? A: Debt burden, interest costs, credit score impact, and potential default
Q: What are sources of financial assistance? A: Banks, SBA, investors, grants, crowdfunding, and trade credit
Q: What are loan evaluation criteria used by lenders? A: Credit history, collateral, cash flow, business plan, and personal guarantees
Q: What should a loan application package include? A: Business plan, financial statements, tax returns, credit report, and collateral documentation
Q: What is cost/benefit analysis? A: Comparing costs of an action against expected benefits to guide decisions
Q: What is the relationship between total revenue, marginal revenue, output, and profit? A: Total revenue increases with output; marginal revenue is additional revenue per unit; profit is revenue minus costs
Q: How do you develop a budget? A: Estimate revenues, project expenses, allocate resources, set targets, and monitor performance
Q: How do you forecast sales? A: Analyze historical data, consider market trends, factor seasonality, and adjust for growth plans
Q: How do you calculate financial ratios? A: Divide relevant financial figures (e.g., current assets/current liabilities for current ratio)
Q: How do you interpret financial statements? A: Analyze trends, compare to benchmarks, assess ratios, and identify strengths/weaknesses
Q: How do you file business tax returns? A: Gather financial records, complete appropriate forms, calculate liability, and submit by deadline
Q: How do you verify accuracy of business financial records? A: Reconcile accounts, review transactions, check calculations, and conduct audits
Q: How do you interpret cash flow statements? A: Examine operating, investing, and financing activities to assess liquidity and cash management
Q: How do you monitor business profitability? A: Track revenues vs. expenses, analyze margins, compare to targets, and identify trends
Q: What are types of financial statement analysis? A: Ratio analysis, trend analysis, horizontal analysis, vertical analysis
Q: What are limitations of using financial statements? A: Historical data, doesn't show market value, can be manipulated, ignores intangibles
Q: How do you spot problems in financial statements? A: Look for unusual trends, inconsistencies, declining ratios, and red flags in notes
Q: What are financial needs at different business development stages? A: Startup needs capital; growth needs expansion funding; maturity needs working capital; decline needs restructuring
Q: What factors should you consider choosing between debt and equity? A: Cost, control, repayment obligations, tax implications, and dilution
HUMAN RESOURCES MANAGEMENT (HR)
Q: What is the nature of HR management? A: Planning, recruiting, developing, and managing employees to achieve organizational goals
Q: How do you coordinate human, capital, and fiscal resources? A: Align staffing with budget, allocate funds efficiently, and balance resource needs with priorities
Q: How do you determine hiring needs? A: Assess workload, skills gaps, turnover, and business growth plans
Q: How do you screen job applications? A: Review qualifications, experience, skills match, and cultural fit indicators
Q: How do you interview job applicants? A: Ask behavioral questions, assess skills, evaluate fit, and provide company information
Q: How do you select and hire new employees? A: Compare candidates, check references, verify credentials, make offer, and onboard
Q: How do you dismiss or fire employees? A: Document issues, follow procedures, conduct termination meeting, and handle final paperwork
Q: How do you maintain human resources records? A: Keep personnel files, track attendance, document performance, and ensure confidentiality
Q: How do you train staff? A: Onboarding, skills development, ongoing education, and performance feedback
Q: How do you supervise staff? A: Set expectations, monitor performance, provide feedback, and support development
Q: How do you foster the right environment for employees? A: Create positive culture, ensure safety, provide resources, and promote work-life balance
Q: How do you assess employee performance? A: Set goals, measure results, provide feedback, and identify improvement areas
Q: How do you handle employee complaints? A: Listen actively, investigate fairly, address issues promptly, and follow up
Q: What is remedial action? A: Corrective measures taken to address employee performance or conduct issues
MARKETING (MK)
Q: What is marketing's importance in a global economy? A: Facilitates exchanges, creates value, drives sales, and connects businesses with customers worldwide
Q: What are marketing functions? A: Market research, product development, pricing, promotion, distribution, and customer service
Q: What influences customer buying behavior? A: Personal factors, psychological factors, social influences, and cultural factors
Q: How do company actions influence consumer buying behavior? A: Through advertising, product quality, pricing strategies, customer service, and brand reputation
INFORMATION MANAGEMENT (NF)
Q: How do you establish specifications for hardware/software? A: Assess business needs, evaluate compatibility, consider budget, and plan for scalability
Q: How do you determine venture's IT needs? A: Analyze operations, identify technology gaps, evaluate options, and project future requirements
Q: What is the nature of business records? A: Documents of transactions, decisions, and operations used for legal, tax, and management purposes
Q: What are current business trends? A: Digital transformation, sustainability, remote work, AI adoption, and customer personalization
Q: How do you monitor internal records for business information? A: Review sales data, financial reports, inventory levels, and performance metrics regularly
Q: How do you conduct an environmental scan? A: Analysis of external factors including economic, technological, competitive, and regulatory trends
Q: How do you interpret statistical findings? A: Analyze data patterns, determine significance, identify correlations, and draw conclusions
Q: How do you translate research findings into business recommendations? A: Analyze data, identify implications, develop actionable strategies, and present clear next steps
Q: What are principles of data analysis? A: Collect accurate data, identify patterns, draw insights, and make data-driven decisions
Q: What is data mining? A: Extracting patterns and insights from large datasets to support decision-making
OPERATIONS (OP)
Q: What is the nature of operations? A: Day-to-day activities that produce and deliver products/services efficiently
Q: How do you identify potential safety issues? A: Conduct inspections, analyze incidents, review processes, and gather employee input
Q: How do you establish safety policies and procedures? A: Identify hazards, develop protocols, train employees, and enforce compliance
Q: How do you identify potential security issues? A: Assess vulnerabilities, analyze threats, review access controls, and evaluate risks
Q: How do you establish policies to protect company information? A: Control access, encrypt data, train employees, and implement security systems
Q: How do you establish physical security policies? A: Install security systems, control access, monitor premises, and establish emergency procedures
Q: What is the nature of purchasing? A: Acquiring goods and services needed for business operations at best value
Q: How do you select vendors? A: Evaluate quality, price, reliability, service, and reputation
Q: How do you evaluate vendor performance? A: Monitor quality, delivery times, pricing, customer service, and contract compliance
Q: What is the concept of production? A: Converting inputs into outputs through processes that add value
Q: What is management's role in achieving quality? A: Set standards, provide resources, train staff, monitor processes, and foster quality culture
Q: How do you establish efficient operating systems? A: Streamline processes, eliminate waste, automate tasks, and standardize procedures
Q: What are overhead/operating costs? A: Indirect expenses like rent, utilities, insurance, and administrative costs
Q: How do you conduct breakeven analysis? A: Calculate fixed costs, determine variable costs per unit, and find sales volume where revenue equals costs
Q: How do you negotiate service and maintenance contracts? A: Compare providers, discuss terms, leverage volume, and secure favorable pricing
Q: How do you negotiate lease or purchase of facility? A: Research market rates, assess needs, evaluate terms, and negotiate favorable conditions
Q: How do you develop expense control plans? A: Identify cost drivers, set targets, implement controls, and monitor spending
Q: How do you use budgets to control operations? A: Compare actual to budgeted amounts, investigate variances, and adjust operations
Q: What is the supply chain concept? A: Network of organizations and processes involved in creating and delivering products to customers
Q: How do you evaluate strategies for protecting digital assets? A: Assess security measures, test vulnerabilities, update systems, and train employees
Q: What is business analysis? A: Examining business processes and systems to identify improvements and solutions
Q: What is business process thinking? A: Viewing business as interconnected processes that can be analyzed and improved
Q: What factors influence business process design? A: Customer needs, technology, costs, quality standards, and competitive factors
Q: What causes business process changes? A: Technology advances, market demands, regulatory requirements, and efficiency needs
Q: What is the impact of supply chain on business performance? A: Affects value creation, customer satisfaction, business design, and sustainability
Q: What is the nature of supply chain management? A: Planning and controlling flow of materials, information, and finances from suppliers to customers
PROFESSIONAL DEVELOPMENT (PD)
Q: How do you establish performance standards? A: Define expectations, set measurable goals, align with objectives, and communicate clearly
Q: How do you monitor progress toward organizational goals? A: Track KPIs, review regularly, compare to targets, and adjust strategies
Q: Why are innovation skills needed? A: To create competitive advantage, solve problems creatively, and adapt to change
Q: How do you make decisions? A: Define problem, gather information, evaluate options, choose best alternative, and implement
Q: What are problem-solving skills? A: Identify issues, analyze causes, generate solutions, and implement fixes
Q: How do you use time-management skills? A: Prioritizing tasks, setting goals, avoiding distractions, and using time efficiently
Q: What is the importance of corporate governance? A: Ensures accountability, protects stakeholders, builds trust, and promotes ethical behavior
Q: What factors impact governance structures? A: Company size, ownership, industry regulations, and stakeholder expectations
Q: What are components of a well-governed company? A: Board of directors, reporting transparency, internal/external audit functions
STRATEGIC MANAGEMENT (SM)
Q: What is the concept of management? A: Planning, organizing, leading, and controlling resources to achieve goals
Q: What is managerial ethics? A: Moral principles guiding management decisions affecting stakeholders
Q: What is the nature of business plans? A: Comprehensive documents outlining business strategy, operations, and financial projections
Q: How do you develop company goals and objectives? A: Align with mission, make them SMART, involve stakeholders, and prioritize
Q: How do you define business mission? A: State company purpose, core values, and primary objectives in clear statement
Q: How do you conduct organizational SWOT? A: Identify internal strengths and weaknesses, external opportunities and threats
Q: What are external planning considerations? A: Market trends, competition, economy, regulations, and technology changes
Q: How do you identify and benchmark key performance indicators? A: Choose relevant metrics, set targets, compare to industry standards, and track via dashboards
Q: How do you develop action plans? A: Detailed steps, timelines, and responsibilities for achieving specific goals
Q: How do you develop a business plan? A: Executive summary, market analysis, operations plan, financial projections, and strategy
Q: How do you select and apply metrics for organizational success? A: Choose KPIs aligned with goals, measure regularly, analyze trends, and adjust strategies
Q: How do you analyze operating results vs. budget/industry? A: Compare actual performance to budgeted and industry benchmarks, identify variances, investigate causes
Q: How do you track performance of business plan? A: Monitor milestones, measure KPIs, review financials, and adjust as needed
Q: What is risk management? A: Identifying, assessing, and mitigating potential threats to business objectives
Q: What factors influence management? A: Organizational culture, resources, external environment, technology, and stakeholder expectations
Q: What is the relationship between innovation, learning, and change? A: Innovation requires learning; learning enables change; change drives innovation in continuous cycle
Q: What is change management? A: Process of planning, implementing, and managing organizational changes
QUALITY MANAGEMENT (QM)
Q: What is quality management? A: Systematic approach to ensuring products/services meet standards and customer expectations
RISK MANAGEMENT (RM)
Q: How do you assess business risks? A: Identify threats, evaluate likelihood and impact, and prioritize mitigation efforts
Q: What is enterprise risk management (ERM)? A: Comprehensive approach to identifying and managing all organizational risks
Q: What is the relationship between risk and business objectives? A: Higher objectives often require accepting higher risks; must balance risk with potential reward
Q: How do you identify business risks? A: Analyze operations, market conditions, finances, compliance, and strategic factors
Q: How do you assess risk? A: Evaluate probability, potential impact, existing controls, and vulnerability
Q: How do you develop a risk management program? A: Identify risks, assess impact, develop mitigation strategies, implement controls, and monitor results
CHANNEL MANAGEMENT (CM)
Q: What is channel management? A: Selecting, managing, and evaluating distribution channels to reach customers effectively
Q: What are channels of distribution? A: Paths products take from producer to consumer (direct, retail, wholesale, online)
Q: What are channel strategies? A: Intensive, selective, or exclusive distribution based on product and market
Q: How do you select channels of distribution? A: Consider target market, product type, cost, control needs, and competitive factors
Q: How do you evaluate channel members? A: Assess sales performance, customer service, market coverage, and cooperation
MARKETING-INFORMATION MANAGEMENT (IM)
Q: Why is marketing data needed? A: To understand customers, track trends, measure performance, and make informed decisions
Q: What is marketing research? A: Systematic gathering and analysis of information about markets, customers, and competitors
MARKET PLANNING (MP)
Q: What are marketing strategies? A: Overall plans for reaching target customers and achieving marketing objectives
Q: What is market identification? A: Defining and locating groups of potential customers with similar needs
Q: How do you identify market segments? A: Divide market by demographics, psychographics, behavior, or geography
Q: How do you develop customer profile? A: Detailed description of ideal customer including demographics, behaviors, and preferences
Q: How do you select a target market? A: Evaluate segment attractiveness, company resources, competitive position, and strategic fit
Q: How do you conduct market analysis? A: Evaluation of market size, growth, trends, and potential opportunities
Q: How do you conduct SWOT for marketing planning? A: Analyze marketing strengths, weaknesses, market opportunities, and competitive threats
Q: How do you conduct competitive analysis? A: Assessment of competitors' strengths, weaknesses, strategies, and market position
Q: How do you forecast sales for marketing plan? A: Analyze historical data, market trends, economic factors, and planned marketing activities
Q: How do you set marketing goals and objectives? A: Make them SMART (Specific, Measurable, Achievable, Relevant, Time-bound) and aligned with business goals
Q: How do you develop a marketing plan? A: Situation analysis, objectives, strategies, tactics, budget, and evaluation methods
Q: How do you link performance measures to financial outcomes? A: Connect marketing metrics to revenue, profit, ROI, and business results
Q: How do you translate performance measures into financial outcomes? A: Calculate monetary value of marketing results and impact on bottom line
PRICING (PI)
Q: What is the pricing function? A: Determining prices that maximize profit while meeting customer value expectations
Q: What factors affect pricing decisions? A: Costs, competition, demand, customer perception, and business objectives
PRODUCT/SERVICE MANAGEMENT (PM)
Q: How do you determine initial feasibility of product idea? A: Assess market demand, technical feasibility, financial viability, and competitive advantage
Q: How do you adjust idea to create functional product? A: Refine features, address technical challenges, optimize costs, and test prototypes
Q: How do you create processes for ongoing opportunity recognition? A: Monitor trends, gather customer feedback, track competitors, and encourage innovation
Q: How do you evaluate customer experience? A: Gather feedback, measure satisfaction, analyze touchpoints, and identify pain points
Q: What is product mix? A: Variety and assortment of products a company offers to customers
Q: How do you plan product mix? A: Analyze market needs, company capabilities, profitability, and strategic fit
Q: How do you determine services to provide customers? A: Assess customer needs, evaluate costs, analyze competition, and align with strategy
Q: How do you identify internal and external service standards? A: Review industry benchmarks, gather customer expectations, and set quality criteria
Q: How do you build corporate brands? A: Create strong identity, deliver consistent quality, engage stakeholders, and build reputation
Q: What is the role of customer service in positioning/image? A: Shapes perception, builds reputation, differentiates from competitors, and reinforces brand promise
Q: How do you identify company's unique selling proposition? A: Distinctive benefit that sets product/service apart from competitors
Q: How do you build product/service brand? A: Define identity, create consistent messaging, deliver quality, and build customer loyalty
PROMOTION (PR)
Q: What is promotion's role in marketing? A: Communicating value to inform, persuade, and remind customers about products
Q: What are types of promotion? A: Institutional (company image) and product (specific offerings)
Q: What are elements of the promotional mix? A: Advertising, personal selling, sales promotion, public relations, and direct marketing
Q: What are types of advertising media? A: TV, radio, print, outdoor, digital, and social media
Q: What are word-of-mouth channels? A: Social media, online reviews, customer referrals, and influencer marketing
Q: What is the nature of direct marketing channels? A: Communicating directly with target customers through mail, email, telemarketing, or online ads
Q: What are communications channels used in sales promotion? A: Coupons, contests, point-of-purchase displays, samples, and loyalty programs
Q: What are communications channels used in PR? A: Press releases, media relations, events, sponsorships, and social media
Q: What are types of public relations activities? A: Press releases, events, sponsorships, community involvement, and media relations
SELLING (SE)
Q: What is the selling function? A: Personal communication to identify customer needs and influence purchase decisions