marketing flashcards 3 (126)

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126 Terms

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A bookstore purchased a special display for the children's area for $400. The books on the display will be sold for $12. The cost of the books was $10. Calculate the breakeven point for the sale. Round up to the nearest dollar
$200
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A career plan identifies which of the following
-a progression of jobs
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-required education, training, and experience

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-a tentative time schedule

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A catalog company advertised a special rate on art supplies. Each new customer was given a 10 percent discount. In her first order, Michelle ordered $60.00 in canvases. After the discount was applied, how much did Michelle pay for her order
$54
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A component of the marketing mix that provides protection and security for the product until the consumer

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can use it is
packaging
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A group of similar products with slight variations in the marketing mix to satisfy different needs in a market is known as
a product line
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A limited-line store
offers products from one category of merchandise
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A product sells for $1.80. Variable costs are $1.07 per unit and the fixed cost is $10,200. How many units would the company need to sell to break even? Round up to the nearest whole unit
13,973
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A salesperson will study the customer and his or her needs during the
preapproach step
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A small gift shop determined that its sales have grown 10% in the past year. Calculate the number of years required to double its sales. Round to the nearest tenth
7.2
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Accounts receivable are
sales for which the company has not yet been paid
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Advertising plans are carefully developed because
They involve huge sums of money
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All of the consumers who will purchase a particular product or service comprise a(n)...
Economic market
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Based on the target market, advertising can be customized by
changing the words
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Big Company sells Big Squares for $42 each and earns a gross profit of $6. It has developed a new product, Little Squares. The cost of making Little Squares is only $2 less than the cost of making Big Squares. To make the same gross profit, what should Big Company charge for each Little Square
$40.00
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Changes in the tangible parts of a product or service affect a product's...
Form utility
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Combining the price of several related services is
bundling
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Companies develop e-mail lists for advertising by
using addresses of current customers. using addresses of consumers who have sent inquiries.
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c. purchasing e-mail lists from other companies

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Competition among businesses is beneficial because
it encourages product improvements
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Consumers typically do not compare other products or brands when they are purchasing
convenience goods
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Convenience goods include
-staple goods
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-emergency goods

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-impulse goods

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For managers and other decision-makers, the most important part of a marketing information system is the
output
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If 500 units cost $120,500 and 1000 units cost $200,000, what is the incremental cost per unit of the second 500 units? Round to the nearest cent
$159.00
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If the customer is dissatisfied with any part of the marketing mix or if competing products appear to meet customer needs better, the salesperson can
inform the company
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If the producer does not want to perform all of the marketing functions, some functions may be performed by
-the consumer
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-another individual

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-another business

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In a preindustrial country it is difficult to
-produce products.
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-sell products.

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-distribute products.

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In the early part of the 20th century, the primary way to sell more products was
To be able to deliver them to a larger number of customers
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In the month of January, a gift shop had 3,000 people who visited the store. The owner calculated that 76 percent of the visitors made a purchase. How many visitors made a purchase
2,280
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In which type of economic system does the government attempt to own and control important resources and make the decisions about the about what will be produced and consumed...
Controlled economy
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Information about consumers that will help a business make effective marketing decisions includes
Product purchases
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Information developed from activities that occurred within your organization is known as
Internal information
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Internal information that can help you make decisions can be found in
marketing plans.
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performance information.

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customer records and sales information

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Internet advertisements are measured in
pixels
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Inventory records should include
the source of the product
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Jane wants to donate $500 to a local organization. She decides to do this by donating some of her products, Tastee Salsa Powder. The cost of making each package is $1.18. How many packages can Jane donate
423
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Little Feet currently charges $18 for a pair of shoes. If the store raises the price of shoes to $25, what is the percentage change in price? Round to the nearest percent
39%
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Long-term expenses include
vehicles
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Manufacturers usually make their profits from the sale of products and services to
wholesalers
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Many of the marketing functions during the distribution process are provided by
Channel members
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Marketing assists in international trade by
Determining where products can be sold
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Money provided to a business to assist in the development and sale of its products is
a subsidy
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Most of the major purchases made by consumers are
shopping goods
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Multinational companies hire employees, including managers, from
-the main country where they operate
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-countries where they hope to do business

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-all countries where they operate

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New products are often expensive because
the cost of development is passed on to consumers
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Often, business might decide not to enter the international market because
the process appears to be complicated and difficult
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People who are self sufficient
Do not rely on others
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People who run their own businesses are at which level of marketing employment
executive/entrepreneur-level
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Prices can be changed by
Allowances
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Reasons to purchase based on feelings, beliefs, or attitudes are known as
emotional motives
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Shop at your competitor's business to
find information about current pricing and promotions
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Short-term expenses include
operating expenses
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Some activities in the action plan will include
responsibilities for marketing activities responsibilities for risk reduction
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responsibilities for the marketing strategy

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Successful overseas marketing assignments generally require
- basic information about the host country
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- foreign language skills.

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-awareness of cultural differences

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The accounting and finance function includes
Developing budgets
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The acronym "MBA" stands for
Master of Business Administration
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The assortment and quantities of products the company maintains for sale to customers is its
inventory
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The concept that people who live in the same physical location might have the same wants and needs is referred to as
geographic segmentation
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The correct sequence of stages that businesses follow as they develop their e-commerce presence on the

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Internet is
information, interaction, integration
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The cost of manufacturing whistles is 75 cents. The company charges $1.25 for a whistle. What is the gross profit the company earns if it sells 10 whistles?
.$5.00
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The demand curve for a business in a monopoly...
Appears straight
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The demand curve for a business in a purely competitive market...
Appears straight
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The earliest use of marketing was
To move products from the producer to the consumer
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The final business organization in an indirect channel of distribution for consumer products is
the retailer
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The goals of a not-for-profit organization that delivers services may be
-public service
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-public awareness of a message or idea

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-knowledge

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The government wants to encourage the development of new products and services so
consumers have additional choices to satisfy their needs
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The highest possible price that can be charged is determined by the
target market
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The information obtained from the market analysis is used primarily to enable the marketer to determine
the target market
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The Internet Advertising Bureau has established standards for
the size and appearance of Internet advertisements
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The lifestyle, values, and beliefs that are common to a group of people are known as
social class
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The major advantage of publicity is the
goodwill it can create
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The major disadvantage of publicity is the
lack of control over the content
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The most difficult purchasing situation occurs when
a new product or service is purchased
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The most difficult type of competition businesses face is a market in which they compete with other businesses offering
Similar products
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The most effective way to develop the budget for marketing expenses is to
calculate the costs of performing the necessary marketing tasks
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The sale of products and services to people in other countries is known as
international trade
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The selling process will be much more productive if the salesperson knows
the needs of the prospective customer
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how to contact each customer

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-the location of the prospective customer

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The series of mental stages followed by a consumer preparing to make a purchase includes
conviction
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The success rate for new products is
50 percent
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The two types of inventory systems are the
physical inventory and perpetual inventory