question

marketing intermediaries that transport and store goods as they move through their path from producer to final user

answer

channel of distribution

question

a marketing intermediary that sells products to other organizations

answer

wholesaler

question

the value or want-satisfying ability that is added to products by organizations that make the product more useful or accessible to consumers

answer

utility

question

usually provided by producers rather than marketers

answer

form utility

question

the types of utility commonly provided by marketing intermediaries

answer

time, place, possession, information, and service

question

when marketing intermediaries perform the steps necessary to transfer ownership from one party to another

answer

possession utility

question

placing ads in newspapers and having knowledgable salespeople to answer customers' questions are ways marketing intermediaries can provide

answer

information utility

question

adds value to goods by having them available where people want them

answer

place utility

question

independently owned and take title to the goods they handle

answer

merchant wholesalers

question

merchant wholesalers who perform all of the distribution functions

answer

full-service wholesalers

question

a firm wants to distribute its products as widely in a market as possible

answer

intensive distribution strategy

question

distributes a product through only a preferred group of retailers in a given area

answer

selective distribution strategy

question

uses only one retail outlet in a given geographic area

answer

exclusive distribution strategy

question

selling goods and services to ultimate consumers over the Internet

answer

electronic retailing

question

companies who send salespeople to customers' homes or places of work

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direct selling

question

independent contractors who sell a product can increase their own incomes by recruiting downliners to also sell the product

answer

multilevel marketing

question

direct mail, telemarketing, and catalog sales

answer

direct marketing

question

all of the organizations in the channel of distribution are owned by one firm

answer

corporate distribution system

question

the producer manages all of the marketing functions at the retail level

answer

administered distribution system

question

manages the movement of raw materials, parts, work in progress, finished goods and related information throughout the supply chain, as well as managing the return of goods when necessary and the recycling of goods when appropriate

answer

supply chain management

question

involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit

answer

logistics

question

brings raw materials, packaging, other goods and services, and information from suppliers to producers

answer

inbound logistics

question

deals with moving finished products and information to business buyers and ultimate consumers

answer

outbound logistics

question

when firms manage the return of goods from customers either because they are defective or for recycling purposes

answer

reverse logistics

question

the use of outside firms to help move their goods through the supply chain

answer

third party logistics

question

put many small shipments together to create a single large shipment that can be transported more cost effectively to the final destination

answer

freight forwarders

question

creating a positive brand image by using all the promotional tools in a comprehensive, unified promotional strategy

answer

integrated marketing communication

question

any paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message

answer

advertising

question

attempts to create a dialogue between buyers and sellers

answer

interactive promotion

question

the face-to-face presentation and promotion of goods and services/ this also includes searching for prospects and providing follow up services

answer

personal selling

question

the activity that evaluates public attitudes, changes policies and procedures in response to the public's requests, and executes a program of action and information to earn public understanding and accesptance

answer

public relations

question

the promotional tool that stimulates consumer purchasing and other dealer interest by means of short-term activities, such as trade shows, event sponsorship, and contests

answer

sales promotion

question

paying people to say good things about a product on the internet or setting up multilevel selling schemes that reward people for directing their friends to a company's website

answer

viral marketing

question

an endorsement from a customer praising a firm's product

answer

testimonial

question

the use of promotional tools to persuade wholesalers and retailers to stock and sell merchandise

answer

push strategy

question

to provide financial information that is useful to decision makers

answer

accounting

question

the area of accounting that provides managers inside the organization with information they need to make decisions

answer

managerial accounting

question

the preparation of financial statements for people outside the firm (creditors, unions, suppliers, and others)

answer

financial accounting

question

an accountant who works for a single business or government agency

answer

private accountant

question

involves the review and evaluation of the records that are used to prepare the organization's financial statements

answer

auditing

question

a yearly published statement of the financial condition, progress and expectations of an organization

answer

annual report

question

an evaluation and unbiased opinion of the accuracy of a firm's financial statements

answer

independent audit

question

summarized all the data from the account ledgers to verify that they are correct and balanced

answer

trial balance

question

a six step procedure that results in the preparation and analysis of the major financial statements

answer

accounting cycle

question

balance sheet, income statement, and statement of cash flows

answer

three important financial statements

question

an accounting statement that reports the financial condition of a firm at a specific point in time

answer

balance sheet

question

reports the profit or loss for the firm over a specified time period

answer

income statement

question

assets, liabilities, and owner's equity

answer

the balance sheet shows

question

how quickly an asset can be converted into cash

answer

liquidity

question

the value that stockholders or owners have in a company

answer

owner's equity

question

assets=liabilities+owner's equity

answer

fundamental accounting equation

question

intangible assets

answer

patents and copyrights on the balance sheet

question

current liabilities

answer

debts that are due in one year or less on the balance sheet

question

operating expenses

answer

rent, depreciation, and salaries on the balance sheet

question

the net earnings after the deduction of all expenses, including tax expense

answer

net profit

question

the financial ratios that measure a firm's ability to pay its short term debts

answer

liquidity ratios

question

financial ratios that reflect the degree to which a firm relies on borrowed funds

answer

leverage ratios

question

earnings per share, return on sales, and return on equity

answer

examples of profitability ratios

question

a customer orientation, a service orientation, and a profit orientation

answer

marketing concept

question

the combination of strategies regarding product, price, place, and promotion

answer

marketing mix

question

a process used to test consumer reactions about a product among potential users

answer

test marketing

question

conducting surveys, interviewing customers, or mailing out questionnaires

answer

primary data

question

consists of information that has already been researched by others and is published in journals or books, or has been made available online

answer

secondary data

question

divides a market into groups based on values, attitudes, or interests

answer

psychographic segmentation

question

divides a market into groups based on age, income, or level of education

answer

demographic segmentation

question

to keep individual customers over time by offering them new products that exactly meet their requirements

answer

relationship marketing

question

consisting of people who help shape the consumer's beliefs, attitudes, values or behavior

answer

reference group

question

the combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service

answer

total product offer

question

a group of products offered by a firm that are physically similar or are intended for a similar market

answer

product line

question

products that are used in the production of other goods and services

answer

industrial goods

question

a brand that has been given exclusive legal protection

answer

trademark

question

the loyalty, perceived quality, and emotions people associate with a given brand

answer

brand equity

question

the degree to which customers are satisfied and are committed to future purchases of a desired brand

answer

brand loyalty

question

the stage of new product development that involves promoting a product to distributors, and developing advertising and sales campaigns in order to generate and maintain consumer interest

answer

commercialization

question

reduce the number of new-product ideas being worked on at any one time

answer

product screening

question

involves one or more dominant firms establishing the pricing practices that all competitors in an industry follow

answer

price leadership

question

those costs that increase as the level of production increases

answer

variable costs

question

establishes a high price in order to earn the highest possible profit while there is little competition

answer

skimming pricing strategy

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