Business-Final Exam – Flashcards
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All the benefits associated with a good, service, or idea that affect a consumer's purchasing decision are known as the total....
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product offer
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The process of distinguishing a product from its competition in real or perceived terms to attract customers is called product...
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differentiation
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Ford offers several categories of vehicles: cars, minivans, trucks, and SUVs. All of these vehicles categories together make up Ford's product...
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mix
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Which of the following is a consumer product classification?
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unsought goods and services
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Downloading a song from iTunes is an example of a(n) ____________ service.
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convenience
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A consultation with a world-famous surgeon is an example of a(n) ____________ service.
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specialty
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Which of the following is a B2B product?
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component parts
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Branding benefits....
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both buyers and sellers
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Which of the following is a benefit of branding?
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Branding reduces the risks involved in some purchases for which buyers are unable to determine the quality objectively.
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*The blue Tiffany & Co. box is an example of which purpose of packaging?
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to promote the product
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The strategic planning and budgeting of short- and long-term funds for current and future needs is called ___________ management.
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financial
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Gordon Jimenez' boss tells him to develop a forecast of financial needs. Of the following factors, Gordon will MOST LIKELY consider....
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the current and future state of the economy.
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A company's budget outlines all of the following EXCEPT...
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staffing recomendations
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You are a financial manager. Your assistant tells you that there will be a cash flow gap next month, meaning that cash outflows are expected to be _____________ cash inflows.
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greater than
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Monitoring cash flow is important because it measures a company's ___________.
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short-term financial health and financial efficiency
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Management should compare its budget to _____________ performance every month in order to determine if the company is performing as expected.
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actual
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As a financial manager, you decide to borrow funds in order to meet payroll. Your company will pay back the funds within nine months. You are seeking ___________ financing.
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short-term
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Long-term financing generated by the owners of a company is called ___________ financing.
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debt
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Mark Lewis manages a corporate department that reviews and evaluates the accuracy of financial reports. Mark works in ___________.
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auditing
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Liquidity is the speed at which assets can be turned into ___________.
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cash
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4 Ps of marketing
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product, price, promotion, place
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6 steps to personal selling process
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prospecting, approaching the prospect, presenting, overcoming the objectives, closing the sale, following up
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internal recruiting
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filling job vacancies with existing employees from within a business
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external recruiting
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looks outside a business to fill job vacancies
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business intelligence software
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assists mangers in reporting, planning, and forecasting workforce performance
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utility supply
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availability of public infrastructure services, such as electricity, natural gas, water, and communications
