DMACC Entrepreneurship Ch. 14 & 15 Review

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

Which statement is true about company growth?

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

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

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

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

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

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

CRM is the business version of _____.

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

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

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

The terms 2/10, net 30 offer _____.

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

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

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

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

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

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

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

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

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

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

High performing companies _____.

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

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

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

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

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

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

Why do small business managers tend to overbuy inventory?

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

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