Unit A Review
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| “Babe” Didrickson | was an American athlete who achieved outstanding success in golf, basketball, and track and field.
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| Agencies | refers to a person who acts on behalf of another person
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| Behavioral Segmentation | A more focused form of market segmentation that groups consumers based on specific behavioral patterns they display when making purchasing decisions enabling producers to adapt their marketing approach to specific groups.
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| Charlie Chaplin | was an English comic actor, film director and composer best known for his work during the silent film era.
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| Corporation | created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members.
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| Command Economy | A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale.
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| Communist Economy | the managed economy of a communist state
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| Demand | the desire to own anything, the ability to pay for it, and the willingness to pay
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| Demographical Segmentation | strategy whereby the intended audience for a given product is divided into categories based on demographic variables
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| Depression | long-term downturn in economic activity in one or more economies.
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| Direct competition | situation where two or more firms offer essentially the same good or service.
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| Distribution | is one of the four elements of the marketing mix.
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| Economic goods | something that is intended to satisfy some wants or needs of a consumer and thus has economic utility.
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| Economic services | is an intangible commodity.
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| Elvis Presley | was one of the most popular American singers of the 20th century.
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| Endorsement | Testimonial in advertising, written or spoken statement endorsing a product
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| Entertainment marketing | the marketing of entertainment products, such as movies, music, or celebrities.
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| Entrepreneur | a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome.
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| Financing | the management of money or “funds” management.
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| Franchise | the practice of using another firm's successful business model.
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| Free enterprise | means competition
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| Geographic Segmentation | customer market classification based on geographic location.
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| Good | Objects produced for market
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| Indirect competition | where products which are close substitutes for one another compete.
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| Inelastic demand | the situation in which the supply and demand for a good are unaffected when the price of that good or service changes.
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| Jackie Robinson | was an American baseball player who became the first black Major League Baseball
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| Law of supply and demand | economic model of price determination in a market
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| Limited liability | a concept whereby a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership with limited liability.
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| Louis Armstrong | an American jazz trumpeter and singer from New Orleans, Louisiana.
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| Lucille Ball | an American comedienne, film, television, stage and radio actress, model, film and television executive
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| Market Economy | is an economy in which decisions regarding investment, production and distribution are based on supply and demand[1] and the prices of goods and services are determined in a free price system.
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| Marketing | the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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| Marketing Concept | achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions
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| Marketing mix | a business tool used in marketing products
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| Max Muhleman | He is a sports marketing consultant and he is 72.
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| MLB | Major League Baseball
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| Monopoly | when there is no competition in a certain business market
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| Muhammad Ali | American former professional boxer, philanthropist and social activist.
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| Name recognition | Degree to which a brand or company name has meaning to a consumer
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| Naming right | a financial transaction whereby a corporation or other entity purchases the right to name a facility, typically for a defined period of time
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| NASCAR | National Association for Stock Car Auto Racing
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| NBA | National Basketball League
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| NCAA | National Collegete Atheletic Association
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| NFL | National Football League
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| NHL | National Hockey League
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| Non-price competition | a marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship
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| Oligopoly | a market form in which a market or industry is dominated by a small number of sellers
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| NHL | National Hockey League
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| Non-price competition | a marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship
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| Partnership | an arrangement where parties agree to cooperate to advance their mutual interests
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| Partnership | an arrangement where parties agree to cooperate to advance their mutual interests
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| Possession | exclusive practical control of a thing, in the context of the legal implications of that control
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| Price competition | intense competition in which competitors cut retail prices to gain business
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| Price competition | intense competition in which competitors cut retail prices to gain business
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| Product/service management | deals with managing a service product across its complete life cycle
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| Product/service management | deals with managing a service product across its complete life cycle
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| Promotion | specifies how much attention to pay to each of the five subcategories, and how much money to budget for each.
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| Promotion | specifies how much attention to pay to each of the five subcategories, and how much money to budget for each.
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| Prosperity | the state of flourishing, thriving, good fortune and/or successful social status
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| Prosperity | the state of flourishing, thriving, good fortune and/or successful social status
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| Psychographic Segmentation | are any attributes relating to personality, values, attitudes, interests, or lifestyles
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| Public corporation | limited liability company that offers its securities (stock/shares, bonds/loans, etc.) for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets.
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| Risk management | identification, assessment, and prioritization of risks
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| Risk management | identification, assessment, and prioritization of risks
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| Scarcity | the fundamental economic problem of having humans who have wants and needs in a world of limited resources
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| Scarcity | the fundamental economic problem of having humans who have wants and needs in a world of limited resources
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| Socialist Economy | the economic theories and practices of hypothetical and existing socialist economic systems.
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| Sole Proprietorship | a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business.
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| Sponsorship | to support an event, activity, person, or organization financially or through the provision of products or services.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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