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