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BMI 1.1 - 1.3 REVIEW Flashcards | StudBud
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BMI 1.1 - 1.3 REVIEW
BMI 1.1 - 1.3 REVIEW
20 terms
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StudBud Administration
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Flashcards
20 cards
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Questions
20
Answers
1
A firm’s percentage of the total sales (units or $) in a given market.
Market Stock
Market Percentage
Market Share
Market Sales Projections
2
Pricing is attributed to which factor(s)?
Business Costs (how much it costs to make)
All of the above
Consumer Income (how much they are willing to pay)
Competitor Prices (how much your competitors are charging)
3
The commercial environment where exchanges occur.
The Marketplace
The Business Environment
The Exchange Environment
The Market
4
Marital status is not important to marketers.
True
False
5
The characteristics of a population by age, income, family life cycle, etc.
Demographics
Geographics
Behavioural
Psychographics
6
These are intangible and are usually marketed as a "skill"
A Service
A Characteristic
A Good
A Product
7
Competition between products that are very similar and have only minor difference
Indirect Competition
Targeted Competition
Direct Competition
Saturated Competition
8
Marketing is the process that connects suppliers with wholesalers
False
True
9
"Obtaining, developing, maintaining and improving
a product in response to
market opportunities
" is which function?
Product/Service Management
Promotion
Selling
Pricing
10
Products or services may have more than one target market!
False
True
11
Take-Home Pay (the money that is spend on necessities)
Disposable Income
Net Income
Gross Income
Discretionary Income
12
When developing a product, companies should first focus on their product packaging and slogan.
True
False
13
The Business to Business Market is also known as the Industrial Market
False
True
14
Which Foundation is this? "
Understanding concepts, strategies, and systems needed to interact
effectively with others "
Professional Development
Economics
Communication and Interpersonal Skills
Business, Management, Entrepreneurship
15
Gathering info about
customers, trends and competition
, and analyzing it relates to which function of marketing?
Marketing Information Management
Target Marketing
Customer Relationship Management
Market Planning
16
Generation X posses the highest income and spending power!
False
True
17
Tangible/Physical objects that consumers buy to meet their needs and wants
A Characteristic
A Product
A Service
A Good
18
Consumers are driven by which four factors?
Saving, Simplifying, Consuming, and Status/Personal Gain
Saving, Simplifying, Boasting, and Status/Personal Gain
Saving, Simplifying, Wasting, and Status/Personal Gain
Saving, Simplifying, Altering, and Status/Personal Gain
19
The Market consists of people who share similar needs and wants and have the ability to purchase your products.
False
True
20
Marketing is fun!
False
True
