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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
calls attention to or explains a specific product
product advertising
26
is selling an idea about the company
institutional advertising
27
are long, usually half hour tv ads hosted by a hyper 'sellevangilist' selling a relatively new product or service
informercials
28
tries to get customers to buy a product within a short period of time so that response can be easily measured
immediate response advertising
29
is promoting the sale of a product at the point of purchase
merchandising
30
includes marketing activities that stimulate consumer purchasing and dealer effectiveness
sales promotion
31
is an exhibition of products or services by companies in the same industry
trade show
32
is information about a business that is published or broadcast without charge
publicity
33
involves products that are produced, bought, sold, or used almost anywhere in the world
global marketing
34
involves purchasing and marketing other nations products
importing
35
involves marketing our products to other nations
exporting
36
involves the effective physical movement of a product from the production line to the final consumer
distribution
37
are the methods used to transfer products from place to place
transportation modes
38
is the use of a combination of truck, rail, or ship to transport goods.
intermodal shipping
39
consists of the marketing organizations responsible for the flow of goods and services from the producer to the consumer
distribution channel
40
are those units or institutions in the channel of distribution that either take title to or negotiate the sale of the product
intermediaries
41
bring buyers and sellers of goods together to negotiate purchases or sales
brokers
42
are marketing intermediaries who market a product to others for a fee
agents
43
are intermediaries who take title to the goods handled and then sell them to retailers or other intermediaries
wholesalers
44
sell goods or services directly to the ultimate consumers
retailers
45
are those who buy designer labels and well-known brands of clothing at low prices and sell them at less than typical retail prices
off-price retailers
46
is taking the initiative in seeking out customers with a new product
prospecting
47
involves planning for, recruiting, selecting, and training and developing employees, as well as compensating them and providing for their health and safety
staffing
48
are detailed written statements of work assignments and the qualifications needed to do the job acceptably
job specifications
49
lists the duties and responsibilities of a given job
job description
50
involves retraining workers so they can do increasingly complex work
upgrading
51
is moving an employee from one job to another, without necessarily changing title or pay
transferring
52
is moving an employee to a higher position, usually with increased responsibilities, title, and pay
promoting
53
refers to employees obtained from an outside firm that specializes in performing a particular service
leased manpower
54
is reaching out to attract applicants from which to choose one to fill a job vancancy
recruitment
55
is the process of establishing and maintaining contacts with key persons in ones own or another organization as informal development or promotion systems
networking
56
involves choosing the applicant who has the qualifications to perform the job
selection
57
is making sure that the test given actually relates or corresponds to job performance
validity
58
is an instrument for simultaneously recording variations in several different physiological variables
polygraph
59
are detailed probing and penetrating interviews seeking to determine the applicants character and other aspects of personality
in-depth preployment or diagnostic interviews
60
blends on the job training with learning of theory in the classroom
apprenticeship training
61
combines OJT with learning at a cooperating school or college
internship training
62
involves workers learning many job skills so they are more versatile
cross training
63
involves computer interaction with either specific software packages or specific online sites for employee training
e-training
64
requires the removal of many social and physical barriers to employing the disabled
Americans with Disabilities Act
65
is the federal agency primarily responcible for enforcing EEO laws
equal employment opportunity commission
66
provide guidelines to help firms eliminate discrimination against women and minorities
affirmative action programs
67
are based on the employees ability and performance
merit increases
68
is the extra compensation paid for all production over a specified standard amount
incentive wage
69
is incentive compensation directly related to the sales or profits achieved by a salesperson
commision
70
is a commission paid to a salesperson to push a specific item or line of goods
push money or spiff
71
is an arrangement- announced in advance- whereby employees receive a prescribed share of the companys profits
profit sharing
72
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
employee stock ownership plan
73
are the rewards and services provided to workers in addition to their regular earnings
employee benefits or fringe benefits

Small Business (1 decks)

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