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BUSN 115 Week 4 Quiz
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BUSN 115 Week 4 Quiz

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Question 1. Question : (TCO 3) A small business is defined as a company that _____.

 

is newly launched and has fewer than 100 shareholders

 

  is dominant in its field and employs fewer than 1,500 employees

 

has a revenue of less than $750,000

 

  is independently owned and operated and not dominant in its field

is funded through personal lines of credit and has fewer than 1,000 employees

Question 2. Question : (TCO 3) One of the general characteristics of a small business is that it typically sells fewer products _____.

 

to a larger customer base

 

  to fewer market segments

 

to foreign companies

 

at lower costs to government agencies

 

  at higher costs

Question 3. Question : (TCO 3) Three factors contributing to the increased number of small businesses are technologies such as e-commerce, growing diversity in entrepreneurship, and _____.

 

  Student Answer:     downsizing and outsourcing

 

increased ease in going public

 

nationalization

 

market regulation

 

monopolistic business practices

Question 4. Question : (TCO 3) Charles is the purchase agent for a consulting firm. He places orders for office stationeries and consumables once in two weeks. The purchases are made in large quantities and are billed in the firm's name. The items that Charles buys are examples of _____.

 

specialty products

 

  expense items

 

capital items

 

shopping products

 

convenience products

Question 5. Question : (TCO 3) The introductory stage will be followed by a _____ stage for a successful product.

 

maturity

 

research

 

saturation

 

  growth

 

infiltration

Question 6. Question : (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____.

 

social arbitrators

 

  trend watchers

 

crowd pullers

 

social developers

 

social programmers

 

Question 7. Question : (TCO 4) Organizational purchasing differs from consumer purchasing in that organizational purchasing _____.

 

is influenced more by subconscious and emotional factors

 

  usually involves closer relationships between buyers and sellers

 

  has lower complexity in product usage

 

lacks a formal buying process

 

is less clearly driven by economics

 

 

Question 8. Question : (TCO 4) The process of examining an organization's current marketing situation, assessing opportunities and setting objectives, and then developing a marketing strategy to reach those objectives is called _____.

 

stealth marketing

 

  strategic marketing planning

 

marketing research

 

social commerce

 

marketing concept

Question 9. Question : (TCO 4) Creating new goods and services for a firm's current markets is called _____.

 

market penetration

 

  product development

 

market development

 

diversification

 

pure play

 

Question 10. Question : (TCO 4) _____ refer(s) to intermediaries that sell products to other intermediaries for resale or to organizations for internal use.

 

Retailers

 

  Wholesalers

 

Department store

 

Specialty store

 

Convenience store

Question 11. Question : (TCO 4) AMS Technologies, a computer hardware reseller, purchases computer components from leading manufacturers and builds fully operational personal computer systems customized for specific consumer requirements, such as nonlinear video editing capabilities. The firm sells its products to various companies and educational institutions. AMS Technologies belongs to which of the following class of intermediaries?

 

Retail outlet

 

Drop shippers

 

Manufacturers' representatives

 

  System integrators

 

Specialty stores

Question 12. Question : (TCO 4) Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions?

 

Transport the goods from the producer to the retail outlets

 

Assist with advertising, in-store displays, and other promotional efforts

Provide market information

 

Divide bulk quantities into smaller packages

 

  Complete or customize solutions for customers

Question 13. Question : (TCO 4) Trying to attract buyers by advertising a product that you don't intend to sell, and then trying to sell them another, usually more expensive, product is known as _____.

 

stealth advertising

 

  bait and switch advertising

 

implied claims

 

reminder advertising

 

a push strategy

Question 14. Question : (TCO 4) KM Group, a home products manufacturer, owns a brand of paper towels called EasyWipes. The firm creates a commercial showing how an EasyWipes paper towel absorbs a spill faster than the competitor's paper towel. In this example, the commercial used by KM Group can be classified as __________ advertising.

 

institutional

 

guerrilla

 

  comparative

 

stealth

 

cooperative

 

Question 15. Question : (TCO 4) A television commercial promoting a new range of naturally flavored ice cream, manufactured by Ice Fountain, an ice cream and candy manufacturing firm, is an example of which of the following elements in the communication mix?

 

Institutional advertising

 

  Sales promotion

 

Social media

 

  Product advertising

 

Personal selling

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