Week 7

Question 0

The consumers’ perception of a good or service relative to competitors

Answer 0

Positioning

Question 1

The gathering of data needed to handle a specific marketing problem or situation

Answer 1

Marketing Research

Question 2

The two classifications of operating expenses.

Answer 2

Fixed and Variable

Question 3

All the stock (products) held by a business

Answer 3

Inventory

Question 4

Employment groups formed toobtain higher wages, more fringe benefits, and improved working conditions.

Answer 4

Unions

Question 5

The capital of a business or anything a company owns of value

Answer 5

Assets

Question 6

Grouping consumers according to where they are located

Answer 6

Geographic segmentation

Question 7

People who take risks to earn money and make profits by taking the risk of owning and operating a business

Answer 7

Entrepreneurs

Question 8

The number of unit sales required to cover the fixed and variable costs of a business

Answer 8

Break-even point

Question 9

If a business invests in the stock market it is taking this type of risk

Answer 9

Speculative