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Small Business > Test 2 > Flashcards

Test 2 Flashcards

1
Q

involves giving special consideration to the needs, desires, and wishes of present and prospective customers

A

marketing concept

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2
Q

all parts of the business work in unison

A

system

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3
Q

involves prodding businesses to improve the quality of their products and to expand consumer knowledge

A

consumerism

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4
Q

is a particular characteristic that makes one firm more attractive to customers than its competitors

A

competitive edge

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5
Q

is technology-mediated exchanges between parties as well as the electronically based intra- or interorganizational activities that facilitate such exchanges

A

e-commerce

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6
Q

is the systematic gathering, recording, and analyzing of data relating to the market of goods and services

A

market research

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7
Q

simulates the cinditions under which a product is to be marketed

A

test marketing

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8
Q

is a marketing process for acquiring customers that involves obtaining meaningful, individual level, consumer information; respecting customers’ privacy, analyzing this information to estimate consumer response to various offers, and making decisions based on this expected response

A

database marketing

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9
Q

is the part of the total market toward which promotional efforts are concentrated

A

target market

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10
Q

is identifying and evaluating various layers of a market

A

market segmentation

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11
Q

is the proper blending of the basic elements of product, price, promotion, and place into an integrated marketing program

A

marketing mix

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12
Q

consists of four stages: introduction, growth, maturity, and decline

A

product life cycle

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13
Q

is one set relatively high initially in order to rapidly skim off the ‘cream’ of profits

A

skimming price

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14
Q

is one set relatively low to secure market acceptance

A

penetration price

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15
Q

is the amount added to the products cost to determine the selling price

A

markup

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16
Q

is a reduction from the list price given to customers as an inducement to buy more of a product

A

discount

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17
Q

are given to customers for accepting quality or quantity reduction

A

allowances

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18
Q

is listing the products price in terms of some unit, such as a pound, pint, or yard

A

unit pricing

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19
Q

is an item priced at or below cost to attract customers into the store to but more profitable items

A

loss leader

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20
Q

is basing the price on all costs, plus a markup for profit

A

cost-plus pricing

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21
Q

are performed by business for consumers

A

personal services

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22
Q

are provided to another business or professional

A

business services

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23
Q

involves adding products that are unrelated to the present product line

A

diversification

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24
Q

informs customers of the availability, desirability, and uses of products

A

advertising

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25
Q

calls attention to or explains a specific product

A

product advertising

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26
Q

is selling an idea about the company

A

institutional advertising

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27
Q

are long, usually half hour tv ads hosted by a hyper ‘sellevangilist’ selling a relatively new product or service

A

informercials

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28
Q

tries to get customers to buy a product within a short period of time so that response can be easily measured

A

immediate response advertising

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29
Q

is promoting the sale of a product at the point of purchase

A

merchandising

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30
Q

includes marketing activities that stimulate consumer purchasing and dealer effectiveness

A

sales promotion

31
Q

is an exhibition of products or services by companies in the same industry

A

trade show

32
Q

is information about a business that is published or broadcast without charge

A

publicity

33
Q

involves products that are produced, bought, sold, or used almost anywhere in the world

A

global marketing

34
Q

involves purchasing and marketing other nations products

A

importing

35
Q

involves marketing our products to other nations

A

exporting

36
Q

involves the effective physical movement of a product from the production line to the final consumer

A

distribution

37
Q

are the methods used to transfer products from place to place

A

transportation modes

38
Q

is the use of a combination of truck, rail, or ship to transport goods.

A

intermodal shipping

39
Q

consists of the marketing organizations responsible for the flow of goods and services from the producer to the consumer

A

distribution channel

40
Q

are those units or institutions in the channel of distribution that either take title to or negotiate the sale of the product

A

intermediaries

41
Q

bring buyers and sellers of goods together to negotiate purchases or sales

A

brokers

42
Q

are marketing intermediaries who market a product to others for a fee

A

agents

43
Q

are intermediaries who take title to the goods handled and then sell them to retailers or other intermediaries

A

wholesalers

44
Q

sell goods or services directly to the ultimate consumers

A

retailers

45
Q

are those who buy designer labels and well-known brands of clothing at low prices and sell them at less than typical retail prices

A

off-price retailers

46
Q

is taking the initiative in seeking out customers with a new product

A

prospecting

47
Q

involves planning for, recruiting, selecting, and training and developing employees, as well as compensating them and providing for their health and safety

A

staffing

48
Q

are detailed written statements of work assignments and the qualifications needed to do the job acceptably

A

job specifications

49
Q

lists the duties and responsibilities of a given job

A

job description

50
Q

involves retraining workers so they can do increasingly complex work

A

upgrading

51
Q

is moving an employee from one job to another, without necessarily changing title or pay

A

transferring

52
Q

is moving an employee to a higher position, usually with increased responsibilities, title, and pay

A

promoting

53
Q

refers to employees obtained from an outside firm that specializes in performing a particular service

A

leased manpower

54
Q

is reaching out to attract applicants from which to choose one to fill a job vancancy

A

recruitment

55
Q

is the process of establishing and maintaining contacts with key persons in ones own or another organization as informal development or promotion systems

A

networking

56
Q

involves choosing the applicant who has the qualifications to perform the job

A

selection

57
Q

is making sure that the test given actually relates or corresponds to job performance

A

validity

58
Q

is an instrument for simultaneously recording variations in several different physiological variables

A

polygraph

59
Q

are detailed probing and penetrating interviews seeking to determine the applicants character and other aspects of personality

A

in-depth preployment or diagnostic interviews

60
Q

blends on the job training with learning of theory in the classroom

A

apprenticeship training

61
Q

combines OJT with learning at a cooperating school or college

A

internship training

62
Q

involves workers learning many job skills so they are more versatile

A

cross training

63
Q

involves computer interaction with either specific software packages or specific online sites for employee training

A

e-training

64
Q

requires the removal of many social and physical barriers to employing the disabled

A

Americans with Disabilities Act

65
Q

is the federal agency primarily responcible for enforcing EEO laws

A

equal employment opportunity commission

66
Q

provide guidelines to help firms eliminate discrimination against women and minorities

A

affirmative action programs

67
Q

are based on the employees ability and performance

A

merit increases

68
Q

is the extra compensation paid for all production over a specified standard amount

A

incentive wage

69
Q

is incentive compensation directly related to the sales or profits achieved by a salesperson

A

commision

70
Q

is a commission paid to a salesperson to push a specific item or line of goods

A

push money or spiff

71
Q

is an arrangement- announced in advance- whereby employees receive a prescribed share of the companys profits

A

profit sharing

72
Q

a form of profit sharing, borrows money, purchases some of the companys stock, and allocates it to the employees on the basis of salaries and/or longevity

A

employee stock ownership plan

73
Q

are the rewards and services provided to workers in addition to their regular earnings

A

employee benefits or fringe benefits

Small Business (1 decks)

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