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BIZ 200/201 Midterm Exam Review Flashcards | StudBud
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BIZ 200/201 Midterm Exam Review
BIZ 200/201 Midterm Exam Review
30 terms
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Let this quiz inspire your own quiz for formative assessment.
Flashcards
30 cards
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Questions
30
Answers
1
A well chosen target-market should:
Have limited accessability
Have an appropriate size
Have a non-profit motive
Have intense competition
2
For an organization to maintain an ethical standard, it needs buy-in from management.
True
False
3
Purposefully shortening the lifespan of a product to increase sales is planned obsolescence.
True
False
4
Which of the following statements is true of successful firms?
Their core goal is to generate short-term profits.
They focus on the price of a good rather than on the benefits offered.
They overlook the well-being of their customers.
They deliver unsurpassed value to their customers.
5
The marketing concept focuses on delivering unmatched value for long-term profitability.
False
True
6
Money embezzling is:
legal but not ethical
Illegal and unethical
illegal but ethical
Legal and ethical
7
It is illegal and unethical to produce products that you know will break before their time.
True
False
8
In the context of the marketing evolution, CRM concepts emerged in the selling era.
True
False
9
An ad regarding the Superbowl is:
People Marketing
Event Marketing
Idea Marketing
Place Marketing
10
Which of the following statements is true of nonprofit organizations?
They are not business-like establishments.
They do not produce goods and services.
They are usually in the business of financial gains.
They employ people and take in revenue.
11
Product price must be relative to product benefits.
False
True
12
Planned obsolescence represents a clear violation of social responsibility.
False
True
13
Which of the following is a dimension of the business environment that embodies values and customs?
Social
Competitive
Politcal
Economical
14
When business drives up the standard of living for people worldwide, it contributes to a higher quality of life.
False
True
15
The Small Business Administration lends new businesses start-up money.
True
False
16
Primary Data is ...
Frequently outdated
Customized to meet the marketer's needs
Lower in cost than secondary data
Available to all competitors
17
In the context of universal ethics, providing equal opportunity and being open minded exemplifies which core value?
Responsibility
Caring
Fairness
Respect
18
What occurs when the listener focuses completely on the speaker?
Active Listening
Intercultural Communication
Dynamic Delivery
Nonverbal communication
19
"Donate blood to Stay Healthy" campaign is an example of:
Event Marketing
People Marketing
Idea Marketing
Place Marketing
20
In Consumerism, which is not a consumer right?
The right to be safe
The right to sell products
The right to be heard
The right to be informed
21
In the marketing mix, the _____ of a product includes all of the ways that marketers communicate about the product.
Distribution Strategy
Pricing Strategy
Product Strategy
Promotion Strategy
22
Angel investers.....
Invest in promising start-ups because they want to make money.
Look for companies that seem likely to grow at 5% to 10% per year.
Invest in start-up businesses without requiring a share of ownership
Are wealthy companies that invest in start-up businesses.
23
Which of the following is true of non-Verbal communication?
Gestures don't influence the interpretation of a message
Body language transmits less meaning then actual words
People communicate through a wide range of facial expressions
Tone of voice is not important for effective communication
24
Segmenting a market based on attitudes and values is:
Behavioral segmentation
Demographic Segmentation
Geographic Segmentation
Psychographic Segmentation
25
Federal Regulation often results in a heavy burden for a small businesses.
True
False
26
Which of the following can be a key source of competitive advantage?
Cost-to-serve
Reserved Banking
Speed-to-Market
Greenwashing
27
Which business environment is specifically highlighted when stock markets lose a major portion of their value?
Technological Environment
Social Environment
Cultural Environment
Economic Environment
28
A Code of conduct requires _______ for success.
elimination
Forceful enforcement
Restructuring
Monitoring
29
Businesses donating money to charity is a form of:
Consumerism
Marketing
Philanthropy
Freeganism
30
Buying an established business is a better plan than starting your business from scratch because__________.
You can choose your stakeholders
You have more creative freedom
The rate of First Years Failure is zero%
The organizational structure is in place
