Business 1301 Exam 3 – Flashcards

As Click it had been considers the pricing issues, they should know that all of the following are major pricing objectives EXCEPT

The utility created by transferring ownership of a product to a buyer is called ____ utility

The maker of Oral B toothbrushes is introducing a new electric plaque remover and experts considerable competition. What pricing strategy would be appropriate for this maker to choose?

Lisa is in charge of maintaining good relationships between her organization and local government, business leader groups, and the general public. Lisa's responsibilities can be called _____.

A wrench used to make adjustments to machinery that produces copper wire is classified as

beginning inventory plus net purchases minus ending inventory equals

western civic club's goals differ from those of a profit-driven business, meaning that it is part of a(n) ___

a larger restaurant with locations throughout the US has a long term partnership with Tyson for its poultry and a produce distributor for its fruits and vegetables. These relationships reduce inefficiencies and costs and result in higher customer satisfaction. This restaurant is successfully using ____

L'eggs Pantyhose often sends potential customers free trails of its pantyhose in the mail. This is an example of

When Travis thinks of products and brands adding value to the company that sells them, which concept is he referring to?

a reduction in price that is offered to customers who accept slightly damaged or soiled merchandise is referred to as

Kathryn, a marketing researcher, is currently analyzing the information collected and determining what possible opportunities it has for management. At which stage of marketing research is she?

Stephen Murdock realizes that he needs a new car, so he has read through Consumer Reports and has visited selected dealerships to gather more information. According to the steps involved in a purchase decision, he is ready to

Which of the following is not a major marketing mix element

R&P Inc.

Jessica decides to order smaller amounts of inventory at a time for her arts and crafts store. She is obviously concerned about _____ costs

if you are taking common sense approach to evaluating a firm's accounting information, which of the following would NOT be something you would hope to see

Price differentiation is

if the manager at Best Buy puts a sign up next to a Pioneer stereo that reads, "only $199.99! $58.01 less than Circuit City" this is an example of what type of pricing strategy

Merck & Co., Inc a pharmaceutical manufacturer, wishes to promote its products to retail pharmacist, physicians and hospitals. Merck should recruit ___

Business-to-business markets include all of the following EXCEPT ______ markets

Marilyn provides piano lessons to students in her home four days a week. The money she earns from providing these services would be called ____ on an income statement

Erica goes to a drugstore and purchases toothpaste. What type of purchase process did Erica MOST LIKLEY use

Merchandise that has been sold and is returned to the firm by the customer is called

the product life-cycle stage in which there is a rapid sales increase, other firms have begun to market competing products and lower unit costs and an overall tendency toward increased profit prevail is called

if a company has $50,000 of assets, which of the following could be true?

SME Ads Inc.

One of the most significant issues of online retailing is

The cutout, featuring Miss Tan America in a bikini holding a bottle of lotion, is an example of a(n)

Which of the following is the first step in building a social media plan?

Due to a recession in the US and abroad, ski resorts have suffered from a lack of guest during the peak season. These ski resorts have felt a direct impact from ____ forces

Caroline's Crafts 'N Things

Tech savvy, digital natives born after 1980 are know as

if a company invest $1000000 to develop and market a new product with a goal of earning $1200000 on the product by the end of the year, it will price the product based on

what do users say is their primary reason for using social media

which of the following would be part of a media sharing site

Lynn walks into a local convenience store to buy chewing gum. she more than likely will employ ___ in deciding to make tha t purchase

if the Early Bird Dry cleaners display a sign in the window of its store that says it will take and competitor's coupons, it is trying to

General Mills is planning aales promotion to stimulate wholesales and retailers to carry a new line of cake mixes and to market the mixes aggressively. What type of sales promotion should General Mills use?

the most expensive but most adaptable method of the promotion mix is

Meijer, a retail chain, carries a full line of food and nonfood items as well as product lines such as small appliances, some furniture, automotive items, clothing and lawn and garden equipment. Meijer is a ___-

Which of the following statements is false?

Debts owned by a business are called

Ridgley, cooper and Ross

The elements of the marketing mix are combined to

which of the following is most likely to be the manner in which a business connects and communicates with other businesses rather than with customers

Jack Stanley graduated from college and obtained a full-time job in accounting. At the end of his first year of employment, his assets totaled $9000. his liabilities totaled $3000. His ____ was $6000

Products that can be marketed successfully wit the undifferentiated approach include sugar and

A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives and that is purchased infrequently and with extra effort on the buyer's part is a ____ product

In order for the Gift Market, a local specialty store, to purchase Christmas merchandise for selling in its store, it had to borrow money from a local bank. This debt owned to the bank is a

The presentation of information on a product or its package is known as

A symbol or word that is registered with the US Patent and Trademark Office and is thus legally protected from use by anyone but its owner is a

In a meeting to generate new products, the advisory committee felt that it had come up with some excellent ideas. now that there is a list of product ideas, the next step is

the product life-cycle stage in which consumer awareness and acceptance of the product are low, there are few competitors and there is a gradual rise in sales because of promotion is called

which of the following most accurately describes a podcast

Sears would like to promote its new line of dishwashers with the multi-flow system. Since this is a new feature, Sears needs to be able to demonstrate the product. Sears will most likely use

IRI, a marketing research firm has been contracted by the T-Fal to evaluate the market performance of a new line of cookware. Which of the following is not likely to be a step in IRI's research process?

Victor Cooper spent five years in an accounting educational program and successfully completed a rigorous accounting examination five years ago. Since then he has worked for several accounting firms. Currently he is

What type of product modification is likely to make the greatest impact on food product

a general term for a middleman that actually buys and resells goods is a

You Way Inc If Eric want to develop a new product he would begin with

Your Way Inc Which of the following descriptions should Eric use to best explain the difference between the product line and product mix

As the accountant for Ideal Manufacturing Company you determine the following totals in your balance sheet:

A pricing strategy in which a manufacturer pays for the shipping cost of its merchandise to the wholesaler is called ____ pricing

The president of your small company wants to better understand the basis on which you select your promotion mix. you indicate the selection of promotion mix ingredients and the degree to which they are used depend on all of the following except the

Furs Unlimited is using a combination of advertising and personal selling to increase the sales of its fur coats. This activity involves the ___ ingredient of market of the marketing mix

___ completion is competition based on factors such as product quality, promotion, customer service, and packaging

Sherilyn operates a store called The Gift Garden. her store sells pottery, candles, crafts and ther knickknacks that make good gifts for family and friends. The Gift Garden is a ___

Arm & Hammer launches a campaign to extend the life of its baking soda..... These new uses of products and other modifications are generally created during the ____ phase of the product life cycle

The Spirit collection is a _____

To promote an overall company image, Borden dairy products are packaged in similar designs and colors. This approach is known as

Car dealers are financed by automobile manufacturers and Wal-Mart receives financing from its wholesalers and manufacturers. what marketing functions do such activates preform

Leslie, the marketing manager of Rls manufacturing is evaluating factors that could affect sales of its line of golf bags over the next year. she can get all of the following from the marketing plan except

which of the following is not a step in the consumer buying decision process

Each month Bath & Body works pays employees wages, telephone bills and salaries to accountants these are considered

the value of a firm's stock plus any retained earrings that have accumulated to date is referred to as

in a marketing information system, data from external sources include all of the following except

a good or service intended primarily for the use in producing other goods or services is a ___ product

a clothing retailer has been striving to reduce the costs of its inventory .... this retailer is experiencing ____

a new product should be left in a test market long enough to

the stage in evolution of a new product in which a pool of ideas is created is called

If Texas instruments hires an accounting firm to compute the company's taxes, the accounting firm is providing

which of the following is most like a radio show that could be distributing through the Web

the largest number of product ideas are rejected during the ____ stage of a new product development

Your Best Inc

Levi Strauss is unsure of what sales forecasting method to use in determining future demand for its 501 blue jeans. when choosing the specific forecasting method, he should consider all of the following except

all of the following are characteristics of the maturity stage of the product life cycle except

Advertising may be broadly classified into three groups

in creating the advertising platform for one of its products, Gem Inc will include important selling points such as

Which of the following is considered a generic term

which of the types of resources needed for an e-business is Storybook.com most likely to receive from an investor

if a customer has moderate loyalty toward Heinz ketchup, she likely will

Ashley wants to increase the profits of her e-busincess. What two ways can be used to accomplish her goal of increasing profits

Brand names such as Tide, Surf, biz and Wisk are effective names because they

the advertising medium that receives the largest share of advertising dollars is

if macy's department store managers looked at dillard's department store prices for identical national brands and, based on that information decided to advertise a sale on those products they would be exercising which pricing method

Click it Inc Because click it inc sells its products under different brand names each product is a

social media can most accurately be described as being about

Your Way Inc if eric wanted to teach his emplyoees about the stages of a product's life cycle he should talk about all of the following except

when a company changes one or more of a product's characterictics to manage its product mix it is engaging in _____ modification