marketing flashcards 4 (100)

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People who are self sufficient

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1

People who are self sufficient

Do not rely on others

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2

When people did not have products on hand to exchange they could obtain products

With money

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3

The accounting and finance function includes

Developing budgets

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4

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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5

Marketing assists in international trade by

Determining where products can be sold

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6

Unlimited wants and needs, combined with limited resources, resulting in

Scarcity

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7

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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8

All of the consumers who will purchase a particular product or service comprise a(n)...

Economic market

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9

The demand curve for a business in a purely competitive market...

Appears straight

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10

The demand curve for a business in a monopoly...

Appears straight

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11

Changes in the tangible parts of a product or service affect a product's...

Form utility

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12

The earliest use of marketing was

To move products from the producer to the consumer

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13

Prices can be changed by

Allowances

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14

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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15

Many of the marketing functions during the distribution process are provided by

Channel members

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16

Information about consumers that will help a business make effective marketing decisions includes

Product purchases

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17

Information developed from activities that occurred within your organization is known as

Internal information

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18

Internal information that can help you make decisions can be found in

marketing plans.

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19

performance information.

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20

customer records and sales information

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21

For managers and other decision-makers, the most important part of a marketing information system is the

output

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22

When you write a survey, you can force a respondent to choose an existing answer rather than developing their own answer by asking

a closed-ended question

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23

Reasons to purchase based on feelings, beliefs, or attitudes are known as

emotional motives

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24

The lifestyle, values, and beliefs that are common to a group of people are known as

social class

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25

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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26

Competition among businesses is beneficial because

it encourages product improvements

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27

Shop at your competitor's business to

find information about current pricing and promotions

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28

The correct sequence of stages that businesses follow as they develop their e-commerce presence on the

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29

Internet is

information, interaction, integration

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30

Today, a business will miss some customers if it has not placed information on the Internet about its

location

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31

Internet advertisements are measured in

pixels

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32

The Internet Advertising Bureau has established standards for

the size and appearance of Internet advertisements

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33

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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34

c. purchasing e-mail lists from other companies

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35

A component of the marketing mix that provides protection and security for the product until the consumer

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36

can use it is

packaging

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37

Convenience goods include

-staple goods

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38

-emergency goods

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39

-impulse goods

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40

Consumers typically do not compare other products or brands when they are purchasing

convenience goods

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41

Most of the major purchases made by consumers are

shopping goods

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42

The success rate for new products is

50 percent

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43

New products are often expensive because

the cost of development is passed on to consumers

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44

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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45

The goals of a not-for-profit organization that delivers services may be

-public service

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46

-public awareness of a message or idea

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47

-knowledge

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48

Combining the price of several related services is

bundling

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49

Wholesale businesses are considered to be

resellers

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50

The most difficult purchasing situation occurs when

a new product or service is purchased

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51

When a business purchase is technical or very expensive

-a lawyer will be involved in the transaction.

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52

-an engineer may test the product.

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53

-upper management will participate in the purchasing process

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54

Inventory records should include

the source of the product

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55

The two types of inventory systems are the

physical inventory and perpetual inventory

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56

To operate more efficiently, most manufacturers

operate year-round

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57

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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58

-another individual

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59

-another business

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60

Manufacturers usually make their profits from the sale of products and services to

wholesalers

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61

The final business organization in an indirect channel of distribution for consumer products is

the retailer

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62

A limited-line store

offers products from one category of merchandise

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63

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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64

The highest possible price that can be charged is determined by the

target market

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65

The major advantage of publicity is the

goodwill it can create

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66

The major disadvantage of publicity is the

lack of control over the content

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67

The information obtained from the market analysis is used primarily to enable the marketer to determine

the target market

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68

Based on the target market, advertising can be customized by

changing the words

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69

Advertising plans are carefully developed because

They involve huge sums of money

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70

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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71

The selling process will be much more productive if the salesperson knows

the needs of the prospective customer

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72

how to contact each customer

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73

-the location of the prospective customer

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74

The series of mental stages followed by a consumer preparing to make a purchase includes

conviction

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75

A salesperson will study the customer and his or her needs during the

preapproach step

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76

The sale of products and services to people in other countries is known as

international trade

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77

Often, business might decide not to enter the international market because

the process appears to be complicated and difficult

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78

Multinational companies hire employees, including managers, from

-the main country where they operate

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79

-countries where they hope to do business

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80

-all countries where they operate

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81

In a preindustrial country it is difficult to

-produce products.

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82

-sell products.

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83

-distribute products.

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84

Money provided to a business to assist in the development and sale of its products is

a subsidy

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85

To be an insurable risk, the risk must be

faced by a large number of people

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86

When selecting from among several target markets, a company reduces its risks if

it selects markets that can be clearly identified

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87

Some activities in the action plan will include

responsibilities for marketing activities responsibilities for risk reduction

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88

responsibilities for the marketing strategy

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89

When a company has choices of marketing mixes, the company tries to fashion a mix that

emphasizes its strengths

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90

Long-term expenses include

vehicles

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91

Short-term expenses include

operating expenses

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92

The assortment and quantities of products the company maintains for sale to customers is its

inventory

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93

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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94

Accounts receivable are

sales for which the company has not yet been paid

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95

What document must an entrepreneur prepare for review by potential investors in his or her business venture

business plan

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96

What term identifies a person who is responsible for a business created and owned by others

manager

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97

Which is not a characteristic of entrepreneurs

insecure

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98

Which marketing function would a trucking company or storage center business be involved in?

distribution

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99

Which of the following is defined as a business owned by people who purchase stock in the company?

corporation

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100

Which of the following terms refers to the response rate for Internet advertisements?

click-through

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