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Frequently outdated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