stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Entrepreneurship 4.01-4.04 Flashcards | StudBud
Explore
/
Entrepreneurship 4.01-4.04
Entrepreneurship 4.01-4.04
21 terms
·
StudBud Administration
·
177 plays
4.01-4.04
Flashcards
21 cards
F
Practice quiz
P
Host live
L
Questions
21
Answers
1
The product mix that a business decides to offer customers helps to project the business's
sales goals.
service style.
display themes
unique image.
2
Which of the following does effective product/service management help businesses to do:
To prospect
To recruit
To barter
To compete
3
Which of the following is a reason why managers develop company objectives:
To identify business purpose
To forecast sales potential
To solve operating problems
To communicate with employees
4
The number of products & the assortment of sizes, colors, & models offered in product lines is
width
class
consistency
depth
5
Why would a business add higher priced products to its product mix?
To prevent out-of-stock conditions
To enhance the image of the company
To limit costs
To overcome production problems
6
Which of the following factors helps a business to determine its product mix:
Size and target market
Staple goods and regular goods
Merchandise breadth and depth
Seasonal goods and convenience goods
7
Which of the following characteristics is descriptive of a meaningful company objective:
General
Measurable
Unlimited
Vague
8
Which of the following is a reason for a business to have a narrow product mix:
To reduce the cost of the goods the co. purchases for resale
To allow the company to specialize
To allow the co. to meet the needs of a variety of consumers
To use a wide range of prices
9
Each individual good, service, or idea a business offers for sale is known as a product
width
line
mix
item
10
A service that is not attached to any tangible good is known as a ___service
new-product
pure
product-related
quality
11
Products that are performed rather than produced are known as
services
brand-name products
product lines
private labels
12
Which of the following is a characteristic of pure services:
Most often uses product-bundling strategies
Uses plain, inexpensive packaging
Does not include a tangible product
Does not include product guarantees
13
Which of the following is an example of a company's using brand extension:
Winn-Dixie installing an ATM machine in its stores
Coca-Cola adding Caffeine-Free Diet Coke
Tyson packaging smaller portions of chicken for the elderly
Kroger adding BlueBell ice cream to its frozen foods section
14
Why would a business use a broad product mix?
To decrease legal liabilities
To promote one-stop shopping
To relate the products to the target market
To assure that the product lines are related
15
An effective mission statement should effectively reflect the business's
specific goals
touch points.
ethics policies.
core values.
16
Can any brand name be selected and used by a business?
No, the name must be registered before it can be used.
Yes, a business can use any name it wants to use.
No, the name must be legally available for use.
Yes, brand names cannot be owned by a business.
17
A salon recently added nail services to its product mix. This strategy is called
al
expansion
contraction
trading up
18
One way for a business to expand its product mix is by
increasing sales quotas
acquiring another company.
analyzing product width decisions.
monitoring its products' life cycles.
19
A product-mix strategy in which a business adds a higher priced product or line to its mix is
trading up
breadth
contraction
depth
20
The number of product lines a company carries is referred to as
class
depth
width
consistency
21
A product-mix strategy in which a business redesigns its products is
contractions
expansion
alteration
consistancy
