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business
marketing strategy

Questions and Answers of Marketing Strategy

Identify and briefly describe the primary purpose of five general aviation associations. LO4
Define "general aviation." General aviation aircraft have traditionally represented what percent of the total active aircraft in the United States? What are the 10 FAA primary use categories? LO4
What is the difference between executive/corporate transportation and business transportation?How many jet and turboprop aircraft are operated by business aircraft users?Give several reasons why
Distinguish between aerial application and aerial observation. Give several examples of each. What type of flying is included under the "other work use" category? LO4
Describe the role of the commuter air carriers. Why is this one of the fastest growing segments of general aviation? What is an air taxi? Government use of aircraft would fall under what primary use
How many publicly owned airports are there in the United States? Why are privately owned airports so vulnerable to closing? What is the trend in the number of student and private pilots during the
Describe several services provided by the FAA for general aviation pilots. What has been the trend in light aircraft manufacturing in the United States? Why have kit planes become so popular?
Describe some of the economic factors causing businesses to use their own transportation.Why are the air carriers concentrating their service at air traffic hubs? Why are businesses decentralizing
Summarize the characteristics of successful FBO's. LO5
Discuss the importance of planning. LO5
Describe the step-by-step approach to planning. LO5
Distinguish between line and staff personnel. LO5
Define unity of command and span of control. LO5
Explain the purpose of the operations manual. LO5
Describe the staffing process. LO5
List the major items included in an employee handbook. LO5
Discuss the role of leadership in directing a business plan. LO5
Define personality and motives as they relate to understanding employees. LO5
Compare and contrast Maslow's theory of human wants and needs with Herzberg's motivators and hygiene factors. LO5
Describe the decision-making process. LO5
Discuss the purpose of the controlling process. LO5
Identify and briefly describe the characteristics of successful FBOs. Why in planning\tX considered to be the most important management function? What types of plans are there? Give several examples
Define organization. How can employee goals be at odds with company goals? What is the purpose of departmentalization? Describe the line-and-staff concept. What are some problems associated with flat
Describe the staffing process. List the most common recruiting sources. What is the purpose of interviewing? What are some advantages of having well-trained employees?Identify the major sections and
Why is it said that the game really begins with directing? Why is effective leadership so important in directing a company? Identify 10 personal traits that can be helpful in dealing with others.
Describe the six steps in the decision-making process. Discuss the process of controlling.Give several examples of the control function in such areas as marketing, line service, and parts inventory.
Describe the four major areas of investigation in a corporate aircraft travel analysis. LO6
Distinguish between geographic, volume, and time dispersion. LO6
Identify the three levels of airline service and how each relates to business aircraft use. LO6
Describe five types of business aircraft use. LO6
Highlight the five principal factors to be considered in the equipment selection process. LO6
Summarize the major considerations in the cost of owning an aircraft. LO6
List the principal expenses under fixed and variable costs of use. LO6
Explain the significance of a cash flow analysis. LO6
Determine principal and interest payments using a loan amortization schedule. LO6
Describe the use of present value in aircraft purchase decisions. LO6
Explain break-even analysis as a sales tool for business aircraft. LO6
What is the purpose of a travel analysis? How can the amount and nature of a firm's travel be determined? What is the object of the travel dispersion analysis? Distinguish between geographic, volume,
What is meant by the statement "let the model fit the mission?" Distinguish between the single-engine and light twin-engine aircraft in terms of performance. What are the major criteria for stepping
Trip distances and number of passengers help determine aircraft requirements? What is the significance of determining the use and users of the aircraft? Describe what is meant by the environmental
What are the major factors to be considered in a performance analysis? What is a payload-range chart? Discuss the importance of status of production, trade-in value and reliability and
Distinguish between cost of ownership and cost of use. Give some examples of fixed costs of use and direct operating costs. What are reserves? Determine the cost per mile for an aircraft whose annual
Identify three benefits of a cash flow analysis to the sales process. Use the Sample Loan Amortization Schedule to determine the monthly interest on an eight-year 12 percent loan for $150,000.
Describe the purpose of the value analysis stage in the evaluation of business aircraft. LO9
Distinguish between tangible and intangible benefits. LO9
Compare the use of a business aircraft flown by a hypothetical company over a route with direct and nondirect airline service. LO9
Explain the importance of load factor when comparing the use of a business aircraft with the airlines. LO9
Define value per man-hour (VMH) and describe the two ways it is determined. LO9
Explain "en route productivity" factor. LO9
List five intangible benefits of business aircraft use. LO9
Why is the purchase of a business aircraft similar to the purchase of a computer? What is the difference between tangible and intangible benefits of business aircraft use? Why are business aircraft
Quarterly airline travel by employees of Modern Day Furniture Company between cities A and B (round trip) has been one person 8 times; two persons 5 times; three persons 2 times; and four persons
Describe the activities which are included in the mix. LO6
Discuss the objectives of advertising. LO6
Distinguish between the following types of advertising:Product, institutional, pioneering, competitive, comparative, and reminder. LO6
Explain the importance of an advertising budget and message. LO6
Summarize the advantages and disadvantages of the leading advertising media. LO6
Describe several methods of measuring advertising effectiveness. LO6
Give some examples and describe the purpose of sales promotion. LO6
Describe several publicity techniques which may be used by an FBO. LO6
Discuss each step in the personal selling process. LO6
What is the promotional mix? Distinguish between advertising and sales promotion.Why do firms use advertising agencies? Give some examples of advertising objectives.Distinguish between product and
Explain several methods of establishing an advertising budget. What is the advertising message and how is it developed? Summarize the advantages and disadvantages of the following media: newspapers,
What is the purpose of a firm's sales promotion activities? Identify and briefly describe five sales promotion activities used by FBOs. What is cooperative advertising? LO6
How does publicity differ from public relations? Identify some of the topics available to an FBO that have potential for publicity. Describe several publicity techniques. LO6
How does personal selling differ from other activities in the promotional mix? What is meant by qualifying the prospect? What is the objective of the approach stage? Discuss some of the techniques
Describe the purpose and major categories of the Balance Sheet and Statement of Income. LO3
Distinguish between Balance Sheet, Income Statement, and management ratio analysis and give examples of each. LO3
Explain the purpose and factors affecting Pro Forma Statements. LO3
List the steps in preparing a Pro Forma Statement. LO3
Define Break-Even Analysis and summarize the steps in calculating the break-even point. LO3
Discuss the importance of cash flow budgets and give several examples of typical budget reports. LO3
Distinguish between equity capital, working capital, and growth capital and identify the major sources of loans for each. LO3
Discuss the importance and process of short-term and long-term planning. LO3
What is the purpose of financial management? Describe the major categories of the Balance Sheet. Why must it balance? How does it differ from the Statement of Income?Summarize the categories under
What is the purpose of ratio analysis? Give several examples of Liquidity ratios. Define"working capital." What is the Leverage ratio? How does Income Statement ratio analysis differ from Balance
What are Pro Forma Income Statements? Discuss some of the factors affecting Pro Forma Statements. Describe the steps in preparing a Pro Forma Income Statement. Distinguish between direct expenses and
What is the purpose of Break-Even Analysis? What are the basic assumptions in preparing a break-even chart? List the steps involved if preparing such a chart. What is the formula used? LO3
Why are Cash Flow Budgets so important? What time frame are they normally prepared for? Give several examples of typical budget reports. LO3
Distinguish between equity capital, working capital, and growth capital. What is the primary source for working capital loans? What is the time frame to "clean up" such loans?Why are growth capital
What is a Conditional Sales Purchase? How does venture capital differ from other equity finance sources? Distinguish between short-term and long-term planning. Why is long-term planning so difficult
Define marketing. LO8
Identify and highlight the steps in the process of segmenting the market. LO8
Distinguish between market segmentation and target marketing. LO8
Explain the importance of determining objectives in quantifiable terms. LO8
Describe each of the four Ps in the marketing mix. LO8
Discuss the factors involved in implementing and controlling marketing plans. LO8
Define the marketing concept and explain its importance to organizations success. LO8
Describe the uncontrollable variables which can affect a firms marketing efforts. LO8
It has been said that the customer is really the boss behind your boss. What does that mean? Why is accomplishing the company's objectives part of the definition of marketing? LO8
What is meant by segmenting the market? Why would it be helpful for a firm to compare its strengths and weaknesses against its immediate competitors? Do different target markets have different needs?
A product may include more than a physical item. Explain. What are the major factors affecting price? Define elastic and inelastic demand. Differentiate between an oligolopolistic market and a
Implementing marketing plans involves delegation, communication and motivation. Describe the importance of these functions. How can workers be motivated? How does control differ from implementation?
What are the so-called uncontrollable variables which can affect a firm's marketing efforts?Why should a firm be aware of consumer demographics? Discuss several social trends which affect the
Define marketing research and explain its purpose within an organization. LO3
Give examples of different types of marketing research studies falling under: market measurement, LO3
marketing mix, competitive situations, and the uncontrollable variables. LO3
Describe the steps involved in the marketing research process. LO3
Distinguish between primary and secondary data. LO3
Identify sources of secondary data. LO3

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