stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Midterm review Flashcards | StudBud
Explore
/
Midterm review
Midterm review
50 terms
·
StudBud Administration
·
128 plays
Midterm review
Flashcards
50 cards
F
Practice quiz
P
Host live
L
Questions
50
Answers
1
Psychographic data describes people's mind and habits in terms of
personality traits
opinions
tastes
all of the above
2
Advertisement is a form of paid communication?
False
True
3
A demand curve shows that the quantity consumed does what?
increases as price decreases.
decreases as price decreases.
is not affected by price.
increases as price increases.
4
What does indirect Channel do?
Moves product directly from the manufacturer to the consumer.
The best and most cost efficient transportation method.
People / businesses that move products between manufacturer & consumer
Influences the prospective buyer’s purchasing decision.
5
Writing a business plan is one of the easiest things you will do as an entrepreneur.
True
False
6
Why do people become entrepreneurs ?
to set your own schedule
to work out of your home
all of the above
to pursue a personal dream
7
What is an entrepreneur?
Running a business of one's own.
People who own, operate and take the risk of a business venture.
A person who works for someone else.
A person who works
8
The problem-solving process is not complete until the action is evaluated?
False
True
9
The marketing plan should be separate from your business plan
False
True
10
Financial Management helps
manage finances
identify risks and how to deal with them
know how much profit you’ll make
create opportunities
11
Cost-Based pricing is the pricing that determined considering what competitors charge 4 the same good/ service?
False
True
12
Which of these is not a step in the market research plan
take action
look at different options
define the question
collect the data
13
Marker segments are groups of customers within a small market that don't share common characteristics.
False
True
14
The psychologist who developed a theory of the hierarchy of needs was?
Samuel L. Jackson
Karl Jung
Terrence McKenna
Abraham Maslow
15
Which is not an example of social networking site?
Facebook
Linked In
Twitter
DirectLink
16
The customer's you would most like to attract are referred to as your?
Demographics
Target Market
Competition
Market segments
17
A formal problem-solving mode does/is
helps people solve problems in a logical manner.
consists of five steps.
is never necessary for everyday decisions.
is used only to gather information.
18
When customers know exactly what they want, the fulfillment of their needs is referred
Needs assessment.
Personal selling.
Rational buying.
Need satisfying.
19
How much of a good or service a producer is willing to produce at different prices is called ?
Supply
Need
Scarcity
Demand
20
Which of the following would be considered an indirect competitor of McDonalds?
Pizza Hut
KFC
All of these
Subway
21
Data Warehouse finds hidden patterns and relationships in the customer data stored in the data warehouse
True
False
22
Product Mix is
helps determine the pricing strategy.
The different products and services a business sells
is used to maximize sales.
gives large businesses an advantage over small businesses
23
What is not a Marketing concepts
Labeling
Planning
Production
Promotion
24
What is not an advantage of being an entrepreneur?
Are their own boss
Can make large sums of money
Irregular paychecks
Can choose a business that interests them
25
What is an example of secondary data
Surveys that are sent to you
People that talked about a good company
Information found in already-published sources
Letters that are sent to you
26
Which of the following businesses would use a retailer to distribute their business?
Accountant
Electrician .
Film Developer
Lawyer
27
Demand elasticity is when the demand of a product is affected by its price?
True
False
28
What is publicity ?
a non-paid form of communication
Television ads
a written statement to inform the media
The capabilities of a product or service
29
Which is NOT one of the three ways to charge for online advertising
Cost Per Click
Cost Per Action
Cost Per Mil
Cost Per Viewer
30
Needs are something necessary for survival?
False
True
31
Which is a disadvantages of radio ads?
Too many customers
Too Expensive
Limited information
Listeners forget
32
Which of the following is not a rational buying motive
Protection
Convenience
Product quality
Safety
33
Which of the following is not a type of demographic data?
Income
Where do you live
Age
Gender
34
equilibrium is the point where the supply and demand curve meet?
False
True
35
A business plan is a written document that describes all the steps necessary for operating and opening a successful busi
False
True
36
The Nike “Swoosh” is an example of a product
Brand
Package
Feature
Label
37
What are disadvantages of online advertising?
Blocks promotions
All of the above
Utilize software
Excessive spamming
38
Which is not a characteristic of a successful entrepreneur?
Self-confidence
Determination
Creativity
Dependence
39
Lenders require a business plan before they will consider financing a business.
False
True
40
Competitors should be analyzed concerning their
Prices
Locations
All of these
Strengths and weaknesses
41
What is not part of the elements of a business plan?
Introduction
operations
Marketing
Gathering information
42
A marketing plan should do all of the following except?
outline a strategy for keeping customers.
recognize and anticipate change.
identify your competitors.
identify the owner's net worth.
43
Advertising is a paid form of communication
True
False
44
A detailed description of business goals is in what section of the business plan?
Introduction
Financial statement
Operations
Marketing
45
Which one is not in the four basic principle of Capitalism ?
Decision making
Profit
Private property
Freedom of Choice
46
What does NOT consist of the marketing mix?
Distribution
Finance
Product
Promotion
47
About how many businesses survive after 5 years?
About 10%
Nearly one quarter
Almost 90%
About half
48
Scarcity exist because
limited edition scarcity
Resources are limited
Overpopulation
Resources are to expensive
49
What are some ways to increase market share?
Promoting
Networking with potential customers
Advertising
All of the above
50
What is a business plan ?
A written document stating all the necessary steps to successfully open and
A form of payment
Something given to the new owner when they open up a business
An online document planning out a business
