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Busad 250 Exam 2 Practice Test

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1.
1 point
The value that a company has built up in a brand
2.
1 point
Companies that use e-commerce technologies to sell over the Internet; includes Internet-only retailers and the online arm of store-based retailers
3.
1 point
Business costs that remain constant regardless of the number of units produced
4.
1 point
Goods and materials kept in stock for production or sale
5.
1 point
The four key elements of marketing strategy: product, price, place, promotion (product, price, distribution, and customer communication)
6.
1 point
A method of setting prices based on customer perceptions of value
7.
1 point
A method of setting prices based on production and marketing costs, rather than conditions in the marketplace
8.
1 point
The degree to which customers continue to purchase a specific brand
9.
1 point
Everyday goods and services that people buy frequently, usually without much conscious planning
10.
1 point
Fixed costs/(Selling price - variable costs per unit)
11.
1 point
Four stages through which a product progresses: introduction, growth, maturity, and decline
12.
1 point
The seller doesn’t set a firm price but allows buyers to competitively bid on the products being sold
13.
1 point
Marketing to many small, niche markets
14.
1 point
Merchant wholesalers that sell products to organizational customers for internal operations or the production of other goods, rather than to retailers for resale
15.
1 point
Specific goods, services, experiences, or other entities that are desirable in light of a person’s experiences, culture, and personality
16.
1 point
Fairly important goods and services that people buy less frequently with more planning and comparison
17.
1 point
Introducing a new product at a low price in hopes of building sales volume quickly
18.
1 point
Product is mass produced with features customizable
19.
1 point
The replacement of intermediaries by producers, customers, etc. when those other parties can perform channel functions more effectively or efficiently
20.
1 point
Sales volume at a given price that will cover all of a company’s costs
21.
1 point
Particular brands that the buyer especially wants and will seek out, regardless of location or price
22.
1 point
A hybrid pricing strategy of offering some products for free while charging for others, or offering a product for free to some customers while charging others for it
23.
1 point
Intermediaries that sell products to *other intermediaries* for resale or to organizations for internal use
24.
1 point
Businesspeople and organizations that assist in moving and marketing goods and services between producers and consumers
25.
1 point
Creation of identical goods
26.
1 point
The power of a good or service to satisfy a human need
27.
1 point
Determining the right quantities of supplies and products to have on hand and tracking where those items are
28.
1 point
Large stores that carry a variety of products in multiple categories, such as clothing, housewares, gifts, bedding, and furniture
29.
1 point
More expensive organizational products with a longer useful life, ranging from office and plant equipment to entire factories
30.
1 point
An approach to business management that stresses customer needs and wants, seeks long-term profitability, and integrates marketing with other functional units within the organization
31.
1 point
Marketing on a one-to-one basis
32.
1 point
A firm’s overall plan for moving products through intermediaries and on to final customers
33.
1 point
A name, term, sign, symbol, design, or combination of those used to identify the products of a firm and to differentiate them from competing products
34.
1 point
Tension that exists when a person’s beliefs don’t match his or her behaviors; a common example is buyer’s remorse, when someone regrets a purchase immediately after making it
35.
1 point
Allowing customers to pay the amount they think a product is worth
36.
1 point
Unique good or service for customer
37.
1 point
Companies with distinct sustainable competitive advantages over competing firms
38.
1 point
Inexpensive generally use within a year of purchase
39.
1 point
Charging a high price for a new product during the introductory stage and lowering the price late
40.
1 point
A computer-based pricing method that creates a demand curve for every product to help managers select a price that meets specific marketing objectives
41.
1 point
Differences between a person’s actual state and his or her ideal state; they provide the basic motivation to make a purchase
42.
1 point
Stores that carry only a particular type of goods, often with deep selection in those specific categories
43.
1 point
Business costs that increase with the number of units produced
44.
1 point
An interconnected and coordinated set of elements and processes that converts inputs to desired outputs
45.
1 point
Marketing with a mass-market approach
46.
1 point
Selling one product at a loss as a way to entice customers to consider other products
47.
1 point
Marketing to a small, niche market
48.
1 point
A method of calculating the minimum volume of sales needed at a given price to cover all costs
49.
1 point
Contracting out certain business functions or operations to other companies
50.
1 point
Intermediaries that sell goods and services to *individuals* for their own personal use
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