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MGLVA Business Marketing Final Review Flashcards | StudBud
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MGLVA Business Marketing Final Review
MGLVA Business Marketing Final Review
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Business Final Review
Flashcards
50 cards
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Practice quiz
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Questions
50
Answers
1
The broadest category of promotion is sales promotion?
True
False
2
Entrepreneurs find resources, make business decisions and create new products?
False
True
3
What grade do you envision you will earn on this quiz?
D
C
A
B
4
Per capita GDP is a better measure of a nation's economy than total GDP because?
it shows how unemployment affects GDP
it shows the wealth of each person
it uses the exchange rate
gives a better comparison between countries different sizes
5
An example of licensing is when?
a company in Brazil contracts to open a KFC restaurant.
a business in France contracts t shirts with a US Athlete.
a company in Mexico produces tires for mfg company in Japan?
a company in the USA teaches CPR to its hotel employees?
6
A coupon for 10 percent off all sports apparel is an example of?
Sales promotion
Advertising
Publicity
Personal Selling
7
Why do most companies sell shares of stock?
To gain a greater reputation
To let more people vote on company decisions
To generate income for the company
All companies are required to sell shares of stock
8
What is the study of money called?
Monitarism
Economics
Political Science
Sociology
9
A balanced economy generally has which economic stance?
Expansionary
Exceptionary
Contractionary
Neutral
10
What does it mean to start a business out of necessity?
Someone is otherwise unemployed.
Someone finds a way to improve an existing business.
Someone needs to find a business to invest in.
Someone recognizes an unfulfilled need.
11
What is the governmental collection of money within the state?
Fiscal Policy
Resource Policy
Monetary Policy
Domestic Policy
12
By marketing an item, sellers attempt to increase the real value of an item?
True
False
13
An economy where more money is being collected by taxes than spent is known as?
Exceptionary
Contractionary
Expansionary
Neutral
14
The New York Stock Exchange is an example of what type of stock market?
Individual
Distance
Virtual
Physical
15
Capitalism is an example of a planned economy?
True
False
16
The NASDAQ still features an open outcry?
True
False
17
By definition a small business?
has only one location
has fewer than 500 employees
has only one employee
must have at least three employees
18
During which phase of product development do companies introduce their product to customers?
Screening
Business analysis
Commercialization
Market testing
19
In economic terms 'land" refers only to physical plots of ground?
True
False
20
Emil is considered an entrepreneur because?
he took out a loan.
he mows lawns.
he expanded his business as an adult.
he started and managed a business.
21
A consumer who uses an item often will want to buy it more than rent it based on which utility?
Place
Possession utility
Image utility
Form
22
The variety of products a company offers is called ?
Product enhancement
Cake mix
Product prototype
Product mix
23
What is true about the stock market?
Investors always make money from investing.
All of the above
Even non investors are influenced by the stock market.
All stock markets feature physical location based auctions.
24
A cosmetic company that uses words like "best-eyeliner" in messaging is using which strategy?
Brand marketing
Content marketing
Social media marketing
Search engine optimization
25
Perceived value affects an items price?
False
True
26
Which of the following is NOT an aspect of capitalism?
Labor
Cooperation
Capital
Resources
27
Culture is the accepted behaviors, customs and values of a society?
False
True
28
A share of ownership in a company is known as?
Stock
Rebate
Investment
Bond
29
Most companies experience losses during the introduction phase of a product's life?
True
False
30
The following are examples of using one's passion to start a business EXCEPT
A person inheriting a dry cleaner from a family member.
An organic gardener selling produce at farmers' markets.
An avid reader opening a bookstore.
A yoga enthusiast opening a studio.
31
All of the following are examples of primary market research EXCEPT?
Promotional e-mail campaigns
Focus groups
Free product samples
Direct -mail surveys
32
what do we call companies that have complete control over a particular product or industry?
Monopolies
All of the above
Capitalists
Oligarchies
33
Consumers who value fashion and trends are more likely to be influenced by an item's?
Place utility
Form utility
Possession utility
Image utility
34
having unlimited wants and limited resources affects individuals and the economy.
True
False
35
Which of the following is NOT a characteristic of market economies?
Economic Incentives
Competition
Government ownership of business
Economic Freedom
36
Large corporations are more likely to create jobs than small ones?
True
False
37
Which phase of the product life cycle do companies hope to prolong?
Maturity
Growth
Introduction
Decline
38
The most successful entrepreneurs are those who have always known they want to run a business?
True
False
39
When would hiring a new employee be a smart move for a small business?
If the employer does not have to pay for benefits.
If all economic indicators said the economy was improving.
If income gained from the new employee was more than cost.
If the owner would like to do less work.
40
Global business activities make different jobs available for workers in different countries?
False
True
41
When talking about economic resources, capital refers to which of the following?
Investments and stocks
Money
Tools and machinery to manufacture goods
All the above
42
A small business can thrive even in a bad economy?
False
True
43
Entrepreneurs take the RISK?
False
True
44
A product's potential profit is determined by all of the following EXCEPT?
Pricing the product
Past product profits
Manufacturing costs
Advertising costs
45
A focus group is comprised of?
Members of the target market
Company leaders and decision makers
Partners and shareholders
The company's marketing team
46
Consumer education increases the likelihood of a product purchase?
True
False
47
Even negative publicity can increase brand visibility?
False
True
48
An example of domestic business is when a person living in Canada buys product made in Germany?
True
False
49
when a representative from a sporting goods manufacturer approaches a team about a new design?
Personal selling
Advertising
Publicity
Sales promotion
50
Making sure your business has something special and distinct to offer is known as ?
diffusion
distancing
differentiation
distinction
