Exam Flashcards
The way in which a business makes changes in the amount or type of goods or services it offers is known as its:
Product- mix strategy
What research design would be best suited to determine the reach of an advertisement in a particular target market:
Survey
In what stage of a product’s life cycle would a company spend the least amount of money on promoting the product?
Sales forecast
Ryan goes to the grocery store every week and buys food to feed his family. Ryan’s purchases are most likely driven by which need in Maslow’s hierarchy of needs?
Physiological
A pharmaceutical company accidentally included a mildly poisonous substance in a popular OTC drug. As a result, many users got sick and the company was faced with a lawsuit. Which tort was most likely cited as a reason for the lawsuit?
Negligence
Technology is important to the product/service management function because it helps a business:
Monitor inventory
To promote its summer menu, Danielle’s Diner plans to e-mail a $5.00-off coupon to its regular customers next Tuesday. The coupon will be valid from June 1 through June 15. What does use of the coupon represent?
Tactic
One way that the GDP can be increased is by:
Increasing labor and capital resources
Which is an example of direct mail:
Mailing a brochure to a consumer’s home
Which -is an example of a pull sales promotion strategy:
A buy one, get one free deal
To gain a competitive advantage, a business carefully selects channel members and trains them to provide customers with superior expertise and service. This business is positioning its products by focusing on:
Channel differentiation
What is likely to happen if a company has sunk costs associated with a poor decision?
The company will look for proof to justify its decision
One way promotional activities directly benefit businesses is:
Increased product sales
The Smith company decides to ship its products by truck rather than air so it can keep its prices lower than its major competitor. This is an example of a pricing decision that is influenced by:
Distribution channels
A foreign business legally obtains a license to make products, then sells them for low prices to businesses in the country where the license originated. This is an example of:
The gray market
Thomas wants to change the word ‘develop’ to the word ‘create’ in several places throughout his document. The quickest way to make these changes is by:
Using the find and replace function
How research will be conducted depends on a business’s:
Size and resources
What is a type of branding that differentiates an organization from its competitors:
Corporate
What information should be shared immediately with all staff:
A customer has complained about the service they recieved
What is the purpose of a code of ethics?
To act as a framework for ethical decision making
What could cause a legal issue associated with information management
Accidentally emailing a client’s personal information to others
Word-of-mouth marketing is based on the idea that:
Consumers trust each other more than brands
Walter’s Waterland Amusement Park mailed discount coupons to all the people who moved into the area during the past year. The company has targeted a market based on:
Geographics
UNISYS Corporation offers training with the computer systems and software the company sells to businesses. The training is an example of:
A product-related service
Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall:
Promotional strategy
