Test 3 Flashcards
Which of the following is a disadvantage of project-based production?
Long production lead time
Which of the following is an advantage of mass production?
economies of scale
Which of the following is a disadvantage of mass production?
simple cost assumption
Which of the following describes a cellular factory layout?
groups of team members in workstations
Which of the following describes a Process factory layout?
departments for each stage of production
What is an advantage of delivery only restaurants?
layout are designed for efficiency
What is not an advantage of delivery only restaurants?
A branded memorable experience with the diner
Which of the following is not a role of marketers
expand customers
what does SWOT stand for?
Strengths, Weaknesses, Opportunities, and Threats analysis
What do marketers look to do?
Solve problems
The BCG Matrix categorizes companies by
Growth and market share
Which of the following is something market research investigates?
what problems are customers trying to solve
Geographic market segments devise audience in terms of
All of the above
Consumer behavior culture, social class, and status are examples of
Social influences
Which of the following is the best example of an ease of purchase situational influence on buying behavior?
placing candy and magazines at the checkout line
choosing to prioritize affording rent over having trending clothes is example of a ______ psychological influence
motivation groups
What is the idea of a smallest buyable audience
the smallest audience worth serving
which of the following best describes a brand
the customers gut feelings of what they think of your company
What is the ideal level of brand engagement you want as a brand owner
brand insistence
Which of the following is part of a brand identity?
logo, colors, and font
All of the variations of a particular product is a companies
Product Line
What are the stages of a product lifecycle in the correct order
introduction, growth, maturity, and decline
An advantage of the competitive pricing strategy
Understanding demand
What is price skimming?
charging a high price to start and then charging lower down the line
Volume pricing will most likely lead to better treatment of workers
true or false
false
Organizing a flash mob would be an example of what kind of promotion?
Guerrilla marketing
Which of the following is true about buzz?
Buzz is anything people feel compelled to talk about
Which of the following is required to generate buzz?
Intriguing pattern interruption
Which of the following is not an aspect of generous marketing?
Charging low prices
what is price anchoring?
Setting a very high or low number to set the range
Which of the following would represent relative information in negotiation?
the price they paid for the thing
How many times should you ask why in a negotiation to get to the real answer?
Three times
What is true of making concessions?
Be slow make them reciprocal and save some for the end
What is the goal of a negotiation?
Finding a win-win
What type of accounting is used for external audiences and summarizes and reports business transactions and activities?
Financial accounting
Which type of accounting is for internal audiences to help executives make decisions?
Managerial accounting
Which type of accounting is calculations of tax accountability?
tax accounting
Which of the following best describes the accrual method of accounting?
recording transactions when they are billed
in the equation of assets = liabilities + equity which of the following would represent equity?
the owners interest after accounting for liabilities
Purchase of a new factory would best fall under what of the following categories?
investing activities
