BYU Marketing 041Chapter tests – Flashcards
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consumer
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person who uses the product
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customer
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name of the person who pays for the product
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durable good
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this type of product lasts a long time
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non-durable good
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this type of product lasts a short amount of time
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services
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activities others provide for a fee
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time utility
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Having Christmas trees available in tree lots at the end of November
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information utility
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Showing different ways to use a fishing lure
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possession utility
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Offering an employee discount on new cars for sale
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form utility
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Refining crude oil to make gasoline
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place utility
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A farmer offering fresh corn at a roadside stand near your neighborhood
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information utility
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Nutritional information on a box of cereal
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What creates a sellers markets
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a shortage of goods
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What is the marketing concept?
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meeting the needs of the customers while making a profit
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Which of the following correctly lists the evolution of marketing?
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seller's market, buyer's market, marketing concept
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form utility
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offering bread baked in the store is what type of utility?
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information utility
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advertising on a high school radio station is what type of utility?
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place utility
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drive-up window is what type of utility?
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time utility
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staying open later on weekends is what type of utility?
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form utility
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sandwiches made as ordered is what type of utility?
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time utility
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store hours is what type of utility?
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place utility
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located near a high school is what type of utility?
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information utility
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posting nutritional value on the menu is what type of utility?
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possession utility
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accepting credit cards is what type of utility?
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possession utility
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offering two subs for five dollars is what type of utility?
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durable good
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is a snowboard a durable good or non-durable good?
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non-durable
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is a candy bar a durable good or non-durable good?
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service
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taking a cruise on a ship: service or good?
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customer concept
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Doing what the customer wants
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sales concept
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selling what the business wants
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seller's market
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a situation where there is a shortage of goods and services is called a
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marketing concept
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meeting customers' needs while making a profit
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buyer's market
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an situation where there is an abundance of goods and services is called a
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storing
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Which of the following helps provide time utility? market research, storing, or risk bearing?
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transporting
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Which of the following marketing functions helps provide place utility? transporting, selling market research, or buying?
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financing
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Possession utility is most closely associated with which marketing function? market research, financing, risk bearing, storing
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legal monopoly
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Southwest Gas is the sole provider of natural gas in the state of Arizona. What best describes Southwest Gas? legal monopoly, oligopoly or pure competition?
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pure competition
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AMCE Corporation has a 5 percent share of the widget market. Many other companies are also selling widgets, but none have more than a 10 percent share of the market. What kind of competitive environment is this?
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inflation
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The price for a movie ticket increases from $7 to $8 over a five-year period. What is the most likely explanation?
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risk bearing
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being prepared for the possibility of loss that a business may incur
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selling
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seeking out customers and making goods and services available to them
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buying
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the act of selecting and obtaining the kind and quantity of goods and services that consumers need
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market research
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gathering and analyzing data to help make marketing decisions
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financing
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granting credit to customers or businesses to buy goods or services
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storing
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stocking goods for future use
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transporting
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moving goods from the producer or storage facility to the customer
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stagflation
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What is a period of high unemployment and rising prices occurring at the same time called?
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publicity
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Look at the flyer above. Publicity is part of which of the four Ps
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promotion
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Jane's job is to communicate with her target market. Jane is working with which of the four Ps?
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homogeneus product
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Amelia does not see much difference among the face cream products on the market, so she shops for the cheapest price. To her, face cream is what type of product: unique or homogeneus
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oligopoly
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If Ford, General Motors, and Dodge controlled the domestic automotive industry in the United States, which term would best describe this competitive environment?
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recession
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A country has had a decrease in its productivity for the last year; unemployment is rising, and buying power is dropping slightly. What is this country experiencing?
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product
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Packaging is a part of which of the four Ps?
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product
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Having desired features is most closely related to which of the four Ps?
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producer to consumer
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What is the most frequently used channel of distribution for services?
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independent
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What is the most common form of retail store ownership?
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franchise
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What form of retail store ownership is usually the most successful?
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online
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Which form of nonstore retailing is growing very rapidly?
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low operating cost
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What is one of the advantages of automatic vending?
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online
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Which form of nonstore retailing would probably be best for attracting the teenage market?
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superstore
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Which of the following is a very large retail store that carries the widest selection of consumer goods, which are often sold in bulk?
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convenience store
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Which of the following is a store that is open day and night and sells fast-moving food items as well as some nonfood items (usually at a higher price)?
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automatic vending
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Which of the following is a form of nonstore retail ownership?
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franchise business
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Which of the following is a business in which a parent company gives rights to a person or group to use its name and products?
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railroad
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Which is the best method of transportation for large bulky items that must be delivered quickly?
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motor
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Which form of transportation is the most accessible to most businesses?
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it is inexpensive
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Which of the following is the biggest advantage of transporting by railroad?
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railroad
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Which of the following hauls the most tons of freight annually?
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both transporting and storing
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What does physical distribution involve?
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The slowest form of transportation is railroad
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Which of the following is not true?
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pipeline
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Which form of transportation is the most reliable?
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50 percent
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About what percent of the cost of marketing comes from physical distribution?
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time utility
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Transportation and storage add which type of utility?
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pipeline
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Which form of transportation has the lowest operating cost?
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distribution center
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Bulk breaking is a primary function of?
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distribution warehouse
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A storage facility that assembles products is called a
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distribution center
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A storage facility that stores goods for a short period of time is called a
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public warehouse
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type of warehouse that stores goods on a rental basis.
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distribution warehouse
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type of warehouse is like a small manufacturing plant
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advertising
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Which element of promotion tends to be the most visible?
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visual merchandising
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Point-of-purchase displays are part of what form of promotion?
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public relations
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Publicity is most closely related to which form of promotion?
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personal selling
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Which of the following forms of promotion is the most expensive?
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Internet
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Which of the following is the fastest-growing advertising medium?
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radio
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Pretend you are advertising the grand opening of a Mama Mia's in your area. If you wanted to target a specific, large audience quickly and cheaply, which form of advertising would you use?
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outdoor
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Which advertising medium probably has the most negative image?
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radio
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Which method of advertising is probably best for reaching the local market?
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short life span
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Which of the following is a disadvantage of radio advertising?
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five
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What is the average number of radios per American family?
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relatively low cost
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Which advertising medium has largest potential coverage?
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growth stage
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At what stage of the product life cycle is the most money usually spent on promotion for nondurable goods?
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direct mail
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Which of these forms of advertising allows for the most personalized message?
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internet
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If you want a national advertisement for a children's educational game, which advertising medium would be best?
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newspaper
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Which of these advertising media would be best for a coupon to the local diner?
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newspaper
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If you want to advertise for a yard sale, what would be your best choice for advertising?
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public relations
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donating food to a homeless shelter is a form of
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sales promotion
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giving free samples to customers is a form of
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public relations
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helping clean up after a disaster is a form of
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visual merchandising
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a window display showing a new clothing line is a form of
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personal selling
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selling products over the phone is a form of
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radio
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If you want to advertise a rock concert, which would be the best advertising medium
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television
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Which of the following accounts for the largest share of advertising expenditures?
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outdoor
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If you want to reach a person traveling by car and convince him or her to eat at your restaurant, which type of advertising would probably be best?
