BBB 4M1 - Exam Review Updated - Part 2

A culture that has a lifestyle or values that are opposite of the accepted culture in that area:

The sum total of all activities needed to get the good or service to the consumer is called:

Businesses that offer a similar product as your business are this type of competition:

The value of what is given up to get something else is called:

The flow of goods in and out of the business. (transportation, warehousing, storage) is called:

Logistics was originally a ____ term.

Meetings that have set time constraints and follow an agenda specifically are called this.

The 2 C's of marketing are:

The segment of the market that a product or service is geared towards is called:

Meetings that are flexible and allow people to participation in discussions are called this.

Businesses can have a competitive advantage by having:

This is the top of the business cycle.

This economic development, often called "First World Countries" with a strong GDP is:

In simple terms, logistics is about:

At this stage of the business cycle, production and sales reach their lowest level.

The money left over from your wages after all living expenses have been paid for is called

Marketing strategy where all of a company's manufacturing and marketing are done in one place.

The belief that your own culture, values and belief represent the right way of doing something.

This type of market research is collected by others. I.e. Statistics Canada

Examples of cultural determinants include:

Marketing strategy where a company has the production or marketing done in a different country.

At this stage in the business cycle, the economy is beginning to grow.

Beliefs, values and attitudes that are acquired by a large group of people in a region is:

Any product that competes for consumers' spending money is this type of competition.

The marketing mix includes:

This economic development is referred to as "Emerging Countries" that are becoming prosperous.

This type of market research is observed and collected by a business to solve. i.e. survey

At this stage of the business cycle, the economy is slowing down and people are buying less.

A group within culture that is distinguished from it based on religion, class or ethnicity is a: