Business Law Channel Management Financial – Flashcards
Unlock all answers in this set
Unlock answersquestion
What type of corporation may be owned by just a few people and does not offer its shares for sale to general public?
answer
Private
question
Providing marketing information is an important channel activity, businesses rely on marketing information to determine
answer
Their target markets' needs and wants
question
What can a business do to determine if there are problems with its customer-service levels in relation to its product-distribution strategies?
answer
Evaluate its channel members' performance
question
A farmer with a produce stand in the yard is an example of a ____________ distribution channel
answer
Producer to consumer
question
An advantage of using satellite tracking technology in distribution is that it enables businesses to
answer
Know where to shipments are at all times
question
What is another way to describe financial information that is true, complete, and faithfully represented?
answer
Reliable
question
Which of the following categories of information are found on a balance sheet?
answer
Assets, liabilities, owner's equity
question
Using the cash accounting method, determine the amount of sales that a business would record for one day if it makes $2,300 in cash sales, has COD sales of $450, and places a $300 special order
answer
$2,300
question
The administration of assets refers to decisions about
answer
Investments
question
Labor-union negotiations are part of which HR management activity?
answer
Employee relations
question
Which of the following is an example of helpful, printed information that businesses often give new employees during orientation:
answer
Company handbook
question
How do producers benefit from the exchanges that result from marketing?
answer
By gaining repeat business
question
The development of goods and services that best satisfy consumer needs and wants is a major goal of
answer
product/service management
question
A home-improvement company has determined that many of its potential customers will only purchase carpeting from businesses offering a discount. What has the company determined?
answer
Customer buying behavior
question
Which of the following is a true statement about B2B (business-to-business) marketing
answer
Marketers approach B2B marketing differently than consumer marketing
question
Natalie searched for 45 minutes to locate an important file folder, which she found under a pike of papers in an unmarked box that was stored under her desk. What action did Natalie fail to take that would have increased her efficiency and saved the company money?
answer
Staying organized
question
Which of the following is an example of corporate responsibility
answer
A company uses recycled materials in its products
question
Designing an effective marketing strategy is important
answer
to the success of the business
question
Which of the following is a consideration in the price element of marketing
answer
Should the business offer discounts?
question
Determining the group of customers that will be the main target for a company's goods/services is done through
answer
Market segmentation
question
Which of the following is an example of a marketing strategy that a business might develop in order to achieve an objective it has outlined in its marketing plan
answer
Lowering prices by 5%
question
Business A spends less on advertising than Business B. Both businesses sell the same products, but Business B charges higher prices than Business A. Which of the following factors had affected the prices of the business
answer
Promotion
question
Why are Universal Product Codes (UPCs) often preprinted on products before the manufacturer ships the products to the business?
answer
To simplify the price-marking function
question
Selling price helps customers to allocate their money because price determines
answer
What customers can afford to purchase
question
The management function of business is usually responsible for
answer
Setting policy
