Marketing & Sales Management Flashcards
7 cards from real CFSP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Marketing & Sales Management flashcards as text
When analyzing price elasticity of demand, a foodservice item is considered 'price inelastic' when:
Answer: Demand does not change significantly in response to a price change
Price inelastic goods see little change in demand when prices change — often true for specialty or unique items with no close substitutes.
What is the purpose of a competitive analysis in foodservice marketing planning?
Answer: To understand competitors' strengths, weaknesses, pricing, and market position
Competitive analysis helps operators understand the marketplace by evaluating competitors' offerings, pricing, positioning, and vulnerabilities to identify opportunities.
Which social media metric BEST measures the effectiveness of a foodservice promotional post?
Answer: Engagement rate (likes, comments, shares relative to reach)
Engagement rate measures how actively the audience interacts with content, reflecting actual impact far better than vanity metrics like follower count.
A foodservice manager wants to calculate the 'customer acquisition cost' (CAC). Which formula is correct?
Answer: Total marketing spend divided by number of new customers acquired
CAC is calculated by dividing the total marketing and sales expenses by the number of new customers gained in that period, revealing the cost-efficiency of marketing efforts.
What is 'brand identity' in the context of a foodservice operation?
Answer: The visual, verbal, and experiential elements that communicate who the operation is and what it stands for
Brand identity encompasses all visible and experiential elements — logo, color scheme, tone of voice, ambiance — that collectively communicate the operation's personality and values.
Which pricing strategy is MOST appropriate when introducing a new foodservice concept to attract a large customer base quickly?
Answer: Penetration pricing
Penetration pricing sets an initially low price to rapidly gain market share and build a customer base, with the intention of raising prices once the brand is established.
A foodservice operator tracks that 40% of new customers come from word-of-mouth referrals. This MOST directly indicates:
Answer: High customer satisfaction is driving organic advocacy and brand promotion
High word-of-mouth referral rates signal strong customer satisfaction and brand loyalty, as happy customers become unpaid advocates for the business.