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Chapters 14-17
Business Study Stack
| Question | Answer |
|---|---|
| Consumer Products can be divided into the following three categories | Shopping, Convenience, and Specialty |
| When a product experiences sales revenue and profit increases, reaches a peak and then declines, it goes through what is called a | product life cycle |
| In which order do the stages of the product life cycle occur | Introduction, growth, maturity, decline |
| A product usually declines because of | technological advances or enviornmental factors, or because consumers have switched to competing brands |
| What type of product medication is likely to make the greatest impact on a food product | Aesthetic |
| All of the following are stages in the evolution of new products except: | Product modification |
| A symbol or word that is registered with the US patent and Trademark Office and is thus, legally protected from use by anyonje but its owner is a | Trademark |
| A brand that is owned by a producer is called a | manufacturer brand |
| All of the following are functions of packaging except | Entertainment |
| The quantity of a product that a producer is willing to sell at various proces is called | supply |
| Which of the following constitutes an ROI? | Amount earner as a result of a return on investment |
| Costs that depend on the number of units produced are called | variable costs |
| Price differentiation is a form of | demand-based pricing |
| A sequence of organizations that directs a product from the producer to the ultimate user is called | a channel of distribution |
| All of the following are basic factors in the selection of a channel of distribution except the | type of transportation to be used |
| The three types of vertical marketing systems are | corporate, administered, and contractual |
| Which of the following statements is true about wholesalers? | While wholesalers can be avoided, the functions they provide are necessary |
| A _____ Wholesaler is an example of a limited-services wholesaler | Mail-Order |
| A mail-order wholesailer is an example of a | limited-services wholesaler. |
| A retail outlet that sells a single category of merchandise is known as a | speciality store |
| All of the following types of merchandise are generally found at off-price retailers except: | Second-hand merchandise |
| Which of the following is not an example of direct marketing? | Door-to-door marketing |
| A planned shopping center is one of three types | Regional, community, or neighborhood |
| All those activities concerned with the efficient movement of products from the producer to the ultimate user are called | physical distribution. |
| The most expensive mode of transportation is by | Airplane |
| The least expensive mode of transportation is by | ship |
| Any non-personal promotional messages that is paid for by an identified sponsor and directed to a selected audience is called | advertising |
| The relationship between promotion and sales promotion is that | sales promotion is a subset of promotion |
| ____ is advertising aimed at stimulating demand for an entire industry | Primary-demand advertising |
| Advertising that is used to sell a particular brand of product is called | Selective Demand |
| When a firm wants to enhance its public images, it uses | institutional advertising |
| whicho ne of the following is an advantage of magazine advertising? | Ads can be seen repeatedly |
| ____ is the most selective advertising medium | Direct Mail |
| A major problem with direct-mail advertising is | innacurate mailing addresses that reach the wrong consumers |
| All of the following are common methods of buying advertising time of television except | Paying by the square mile in the geographic area of the television signal |
| The newest advertising medium is the | Internet |
| A problem with Internet advertising is that | there is no solid evidence that internet users pay more attention to the internet ads than they do to ads seen anywhere else |
| The personal-selling process includes all but which of the following? | Providing a product sample |
| The first step in a personal-selling process is | prospecting |
| Sponsoring programs on public television is an example of | public-relations activity |
| Data that are displayed in a form that is useful for specific purpose are known as | visual displays |
| ___ ___ and ___ groups are examples of Qualitative research | Observation, interview, focus |
| Observation, interview, and focus are examples of | Qualitative research |
| What is the basic problem with qualitative research? | It relies heavily on the researcher's subjective interpretations |
| The specific type of information that manages need depend on | their area of management and on their area or responsibility and level within the firm |
| All past and current data that may be useful in managing a firm is include in the | data bank |
| All _____ that may be useful in managing a form is included in the data bank | past and current data |
| Most business data is the form of | numbers |
| A measure that summarizes particular characteristics of a group of numbers is called a | statistic |
| The sum of all the data values divided by the number of items in the set is called the | arithmetic mean. |
| The difference between the highest and the lowest number value in a set of data is called the | range |
| The visual display that is most effective for presenting information about a single variable that change with time is the | graph |
| The most common types of software for business applications include packages in all of the following except: | construction management |
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Adam9680