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JJC Intro to Business Final Review Flashcards | StudBud
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JJC Intro to Business Final Review
JJC Intro to Business Final Review
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Answers
1
Companies and organizations that purchase products for the operation of business activities.
direct demand
business markets
consumer markets
derived demand
2
Marketing makes exchange ____ likely.
more
not
less
never
3
Which utility involves making products?
place utility
possession utility
Info utility
form utility
4
Groups used to obtain valuable info about customer responses to product and marketing strategy
primary groups
focus groups
target groups
secondary groups
5
Thecommon bases for segmenting consumer markets include all of the followingEXCEPT __ factors.
psychographic
geographic
end-use
demographic
6
CRM packages include tools for: Sales Force Automation, Customer Service and Marketing
Yes
No
7
Physical products.
Goods
Needs
Business
Your Bicep
8
Marketing managers extensively scrutinize consumer behavior.
False
True
9
What is making products available at the right time and locations?
Product
Promotion
Price
Distribution
10
For a business, income remaining after payment of expenses is:
Capital
Loss
Debt
Profit
11
A marketing mix is a blend of features that satisfies a chosen market, including...
product, price, place & promotion
merchandise
only product & price
sales
12
Which Internet marketing practice involves studying trends associated with particular groups?
Web analytics
Branding
Aggregator
Demographics
13
Products that are regular, routine and frequently bought - you do not shop around
impulse goods
staple goods
convenience goods
emergency goods
14
a Grocery sells a variety of fruits & vegetables to consumer in the community. Its considered a
agent
retailer
wholesaler
producer
15
The marketing mix includes
orientation,price, segmentation and demography
product, price, place, and promotion.
demographics, placement, geographics and promotion
presentation, demonstration, production and placement
16
What should accountants demonstrate when collecting accounting information and preparing financial documents ?
Empathy and flexibility
Professional integrity
An innovative
A collaborative mindset
17
What is mark-up pricing?
Gradually heightening the prices of products
Setting a price that covers costs and gain profit
Selling higher quality products at higher prices
Setting a higher price after establishing a foothold
18
Email is a frequent use of business technology
True
False
19
In the maturity stage of the PLC, marketing challenges include...
Product augmentation or repositioning
Gaining access to new distribution channels
Advertising to create general awareness
Encouraging consumers to continue purchasing
20
Way a product is perceived by a consumer
perceptual maps
product positioning
perceived positioning
consumer positioning
21
The time value of money refers to the concept that money:
Is the foundation for developing a financial plan
Money will double in value over seven years
Received today is worth more than the same in the future
Changes in value along with interest rates
22
Data Mining is very useful for predicting future customer behavior
No
Yes
23
Which of the following is not a primary goal of pricing
Making a profit
Gaining market share
having good advertisement
Meeting competition
24
The role of the Federal Reserve is to help supervise banking services. Supervision is done by:
Congress
The Board of Governors
Federal Reserve District Banks
The FOMC
25
Athletes are often considered to be particularly effective promoting products related to their
background
education
lifestyle
sport
26
Which of the following does the Federal Reserve use to regulate the nation's money supply?
Monetary Policy
Proposing legislation
Fiscal Policy
Regulations
27
Which is NOT an example of technology used to gather information?
customer loyalty programs
cookies
coupons
data mining
28
What is Accounting?
Counting money
Manipulation of financial data and records
Recording day-to-day activities of a business
Financial data collecting, recording, reporting, analysis
29
groups of customers with common characteristics(demographic,geographic, behavior,psychographic)
market segments
market classes
market customers
market types
30
The Consumer Decision Making process involves which of these stages...
Problem recognition, Information Search, Evaluation of alternatives
Environment Audit, Market Research, Goal and Strategy setting
Groups of buyers sitting together and agreeing purchase
31
Consumer response is the ultimate test of a marketing strategy
FALSE
TRUE
32
Famous actors often ............ products in advertisements.
endorse
inform
sponsor
sell
33
Which is NOT one of the 4P's of marketing?
planning
place
promotion
product
34
Public relations is a piece of what part of the marketing mix?
place
price
promotion
product
35
communication used to inform, persuade, or remind people about products
Research
Promotion
Planning
Pricing
36
True or False. The purchase process ends with the consumer using the product
False
True
37
Social media does not impact consumer behavior.
True
False
38
For most minor innovations, the marketing challenge is to
Advertise points of difference and consumer benefits
Educate consumers on how to use the product
Make major innovation
Generate awareness for the innovation
39
Define Pricing
the value or costs of goods and services.
designing, developing, maintaining, improving
acquiring products
company’s products and services to customers.
40
communication used to inform, persuade, or remind people about products
Pricing
Research
Promotion
Planning