question

_____ is not just selling and advertising; it is a systematic approach to satisfying consumer through creating, distributing, pricing, and promoting goods, services, and ideas.

answer

Marketing

question

Buying behavior refers to the decision processes and actions of people who purchase and use products.

answer

True

question

The ______ is the basic philosophy that guides all marketing activities.

answer

Marketing concept

question

Psychographic characteristics of segmentation include personality characteristics, motives, and lifestyles.

answer

True

question

Marketing occurs only in large business organizations.

answer

False

question

_______ is information that is complied inside or outside an organization for some purpose other than changing the current situation.

answer

Secondary Data

question

_______ usually have both favorable and unfavorable attributes.

answer

Products

question

In the marketing environment underemployment, purchasing power, and general economic conditions all fall under the _______ forces.

answer

Competitive and Economic

question

A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.

answer

True

question

Customer satisfaction is a goal of the marketing concept.

answer

True

question

______ is knowledge and positive or negative feelings about something is a psychological variable of buying behavior.

answer

Attitude

question

If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has.

answer

True

question

The ______ function expedites purchases through making credit available.

answer

Financing

question

As long as both a buyer and seller have something of value to exchange, and exchange will take place.

answer

False

question

________ requires organization to gather information about customer needs, share that information throughout the entire firm, and use it to help build long term relationships.

answer

Market Orientation

question

Although customer satisfaction is the goal of the marketing concept, a business must also achieve its own objectives.

answer

True

question

The best products in the world will not be successful unless companies make them available where and when consumers want to buy them.

answer

True

question

Penetration pricing is less flexible than price skimming.

answer

True

question

Products can be goods, services, and ideas.

answer

True

question

Marketers are blurring the lines between television ads and the Internet by directing consumers to a website for more information.

answer

True

question

Promotion is used only to sell products.

answer

False

question

Raw materials are natural products taken from the earth and are a subset of business products.

answer

True

question

Stimulating demand is especially important when a firm is using a pull strategy.

answer

True

question

The use of a pull strategy means that marketers attempt to motivate middlemen to make a product available to their consumers.

answer

False (Push)

question

Pricing objectives are influenced solely by marketing mix decisions.

answer

False

question

Maximizing profits and sales, boosting market share, maintaining the status quo, and survival are common pricing objectives.

answer

True

question

The Internet is not a valid advertising medium.

answer

False

question

Distribution channels for consumer products and business products are the same.

answer

False

question

Factors such as characteristics of the intended audience, the objective, and the platform used can all affect how an advertising campaign is constructed and its message.

answer

True

question

Exclusive distribution makes a product available in as many outlets as possible.

answer

False (Inclusive)

question

Most new product ideas are rejected during the business analysis phase.

answer

False

question

Of the thousands of products introduced every year, most succeed.

answer

False

question

The _____ has helped marketers to reach target markets that were previously inaccessible to many businesses.

answer

Internet

question

______ are a valuable part of marketing bc they change the way consumers communicate with each other and with firms.

answer

Social Networks

question

The phenomenal growth of digital media has provided new ways of conducting business.

answer

True

question

Intellectual property is technically protected by patents and copyrights, but companies still suffer billions of dollars in losses related to intellectual property theft each year.

answer

True

question

_____ are consumers who create their own media outlets, such as blogs, podcasts, consumer generated videos and wikis.

answer

Creators

question

Social networking sites are useful for relationship marketing or the creation of relationships that mutually benefit the marketing business and the customer.

answer

True

question

______ is when criminals obtain personal information that allows them to impersonate someone else in order to use their credit card to access financial accounts and make purchases.

answer

Identity theft

question

With customer-generated video content increasingly available, some companies are using it instead of professional advertising firms.

answer

True

question

An audio or video file that can be downloaded from the Internet with a subscription that automatically delivers new content to listening devices or personal computers is called _______.

answer

Podcast

question

Companies are beginning to use mobile marketing to offer additional incentives to consumers in order to remain competitive.

answer

True

question

Phising is a scam in which con artists counterfeit a well-known website and end out e-mails directing victims to it.

answer

True

question

______ occurs when a message gets sent from person to person to person.

answer

Viral marketing

question

_______ is short for web logs.

answer

Blogs

question

_____ are websites where users can add to or edit the content of posted articles.

answer

Wikis

question

Consumer feedback is an important part of the digital media equation.

answer

True

question

Digital media can also impedes communication within and between businesses.

answer

False

question

Negative cash flow always indicates that a company is in financial trouble.

answer

False

question

A ______ shows the financial position of an organization at any given moment in time.

answer

Balance Sheet

question

______ brings the information on financial statements into sharper focus so that a firm's managers and others can measure its productivity, profitability, and sources of financing relative to other firms.

answer

Ratio analysis

question

The _____ is also known as the acid test.

answer

Quick Ratio

question

______ is a four step process that examines source documents, records transactions, and prepare financial statements.

answer

The Accounting Cycle

question

Profitability ratios measure how efficiently a firm uses its assets to generate $1 of sales.

answer

False

question

______ show how fast a company can turn current assets into cash to pay off short-term debt.

answer

Liquidity Ratio

question

Accounting is the recording, measurement, and interpretation of financial information.

answer

True

question

Assets = Liabilities + OE known as the _______

answer

The Accounting Equation

question

In a _____ assets are transferred to another entity with the contractual promise of buying them back at a set price.

answer

Repurchase Agreement

question

An example of double taxation is when Dividends per share payments are made from earnings after taxes by the corporation but is still taxable income for the shareholder.

answer

True

question

_______ is an internal financial plan that forecasts expenses and income over a set period of time.

answer

Budget

question

Expenses are the costs incurred in the day to day operations of an organization.

answer

True

question

The income statement, the balance sheet, and the statement of cash flows are all considered financial statements.

answer

True

question

_____ measure how much debt a company is using relative to other sources of capital.

answer

Debt Utilization Ratios

question

Small businesses do not use the financial language of accounting.

answer

False

question

The US government created the _______ in an effort to prevent economic collapse during the most recent financial recession.

answer

Troubled Asset Relief Program (TARP)

question

The three important functions of money are that it serves as a medium of exchange, a measure of value, and a store of value.

answer

True

question

______ have become an increasingly popular substitute for money because of their convenience and acceptance by merchants around the world.

answer

Credit Cards

question

_____ is the study of money; how its made, how it's lost, an show it's managed.

answer

Finance

question

Mutual funds spread the risk of investing across many securities.

answer

True

question

One of the major functions of _____ is regulating banks and other financial institutions.

answer

The Federal Reserve Board

question

A credit union is owned and controlled by a larger bank.

answer

False - it's depositors

question

_____ are businesses that offer short term loans at substantially higher rates of interest than banks.

answer

Finance companies.

question

A medium of exchange known as bartering is trading one good or service for another of similar value.

answer

True

question

A form of electronic banking that provides 24 hour banking services and is accessible worldwide is known as _______.

answer

Automated Teller Machines (ATM)

question

______ was established in 1933 to help stop bank failures through the country during the Great Depression.

answer

The Federal Deposit Insurance Corporation (FDIC)

question

The second major monetary policy tool is the reserve requirement.

answer

True

question

______ are savings accounts that guarantee a depositor a set interest rate over a specified interval as long as the funds are not withdrawn before the end of the interval.

answer

Certificates of deposit

question

An Individual Retirement account (IRA) is a type of savings accounts.

answer

False

question

There is a division of the Fed that handles almost all the checks written against a bank in one city and presented for deposit to a bank in the second city known as a ________.

answer

Check Clearninghouse

question

______ buy and sell stocks, bonds, and other securities for their customers.

answer

Brokerage firms

question

The capital in excess of par account is usually significantly smaller than the par value account on a balance sheet.

answer

False (larger)

question

One aspect of financial management involves managing cash flow for a business on a daily, weekly, monthly, and yearly basis.

answer

True

question

The longer a project or asset is expected to last, the smaller is its potential risk.

answer

False

question

A bond can be transferred from one owner to another.

answer

True.

question

Interest is a percentage of the principal that the bank charges for use of its money.

answer

True

question

Bonds can be issued only by corporations.

answer

False

question

Securities markets provide liquidity.

answer

True

question

The over-the-counter market is a network and does not have a central location for trading.

answer

True

question

A marketable security is a temporary investment of cash.

answer

True

question

Eurodollar deposits can only be made at banks located in London.

answer

False

question

An operating lease is a long-term contract that shows up on the balance sheet as an asset and a liability.

answer

False

question

The principal is the amount of money a business pays to use a bank's funds.

answer

False (interest)

question

The par value is the interest rate on a bond.

answer

True

question

Most business failures are the result of poor long-term financial planning.

answer

True

question

In organized exchanges, investors buy and sell only for their own accounts.

answer

False

question

Common stock is a safer investment than preferred.

answer

False (Preferred)

Chapter 11-16 BUS 101 J. Matthews – Flashcards

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