DMACC Entrepreneurship Ch. 14 & 15 Review

T or F: Sometimes, owners must influence need recognition; other times, they react to needs consumers have identified.

T or F: Small businesses must strive to understand post-purchase dissonance among customers and manage it well.

T or F: Because culture affects behavior patterns and values, it has a big impact on purchasing.

T or F: Distribution includes only the physical movement of products.

When a product mix has more product lines, it has greater _____.

High performing companies _____.

Bob never purchases bottled water when thirsty, even if it's available. This indicates that bottled water _____.

T or F: A garden center selling two types of mint has one product item in two product lines.

T or F: Shippers that own their own means of transport are called private carriers.

CRM is the business version of _____.

Ray is happy with his doctor so he refers his friends, providing a(n) __ benefit of maintaining customer relationships.

A basic idea forming the foundation of customer loyalty for small firms includes the idea that _____.

T or F: Attitudes are forces that organize and give direction to the tension caused by unsatisfied needs.

T or F: In the information search and evaluation stage, the firm’s principal objective is to gain market awareness.

T or F: A brand includes the verbal identification of a product, and symbols or other means of identifying it.

Why do small business managers tend to overbuy inventory?

The individual processes that give meaning to the stimuli confronting consumers are _____.

The product life cycle, as opposed to the competitive advantage life cycle, _____.

Bea is considering offering a warranty on her product. She should remember that they are important for products _____.

June thinks the resale store doesn’t have quality items since they are used. This __ may cause her to shop elsewhere.

Eve wrote a poem to put inside cards she will publish. The poem is protected, so what should she put on her cards?

Art has created a design to go with his product’s name to help customers identify his product. This is a __.

__ realizes that every interaction helps customers learn about a company, affecting if they will do more business

When Gavin sells his product to a(n) ____, the storage function is transferred to the intermediary.

Joe struggles to call clients because he drops calls, so he buys a booster. Joe is through the __ decision making stage.

Franklin sells his product in a bricks-and-mortar store and online. Franklin is using _____.

The dress looked cute in the store, but after bringing it home, May had second thoughts. She is experiencing _____.

Erica has registered protection that covers a new process she has designed. Erica owns a _____.

Kara is a loyal, long term customer at Java Joe’s Coffee Shop. It would be expected that she would _____.

Which statement is true about company growth?

The terms 2/10, net 30 offer _____.

T or F: The 3 main considerations in structuring a channel of distribution are cost, coverage, and customer service.

T or F: The management of a small firm’s current assets is called capital budgeting.