Question<\/p>\n
Question 1. Question: (TCO 3) Which of the following is true about a small business?<\/p>\n
Student Answer: A small business is one that employs between 500 to 1000 employees.<\/p>\n
A small business is usually funded by personal lines of credit and not through bank loans and microlenders.<\/p>\n
A small business is one that is not dominant in its field.<\/p>\n
A small firm usually curtails the freedom to innovate.<\/p>\n
A small firm avoids risks that larger firms are willing to take.<\/p>\n
Question 2. Question : (TCO 3) Barbara owns a small florist shop that employs a couple of part-time floral designers. She doesn’t expect her business to grow much, but it provides her with a comfortable income and she enjoys what she does. Barbara’s business would be described as a _____.<\/p>\n
Student Answer: mid-size enterprise<\/p>\n
retail business<\/p>\n
lifestyle business<\/p>\n
high-growth venture<\/p>\n
service business<\/p>\n
Question 3. Question : (TCO 3) Three factors contributing to the increased number of small businesses are technologies such as e-commerce, growing diversity in entrepreneurship, and _____.<\/p>\n
Student Answer: downsizing and outsourcing<\/p>\n
increased ease in going public<\/p>\n
nationalization<\/p>\n
market regulation<\/p>\n
monopolistic business practices<\/p>\n
Question 4. Question : (TCO 3) Charles is the purchase agent for a consulting firm. He places orders for office stationeries and consumables once in two weeks. The purchases are made in large quantities and are billed in the firm’s name. The items that Charles buys are examples of _____.<\/p>\n
Student Answer: specialty products<\/p>\n
expense items<\/p>\n
capital items<\/p>\n
shopping products<\/p>\n
convenience products<\/p>\n
Question 5. Question : (TCO 3) The introductory stage will be followed by a _____ stage for a successful product.<\/p>\n
Student Answer: maturity<\/p>\n
research<\/p>\n
saturation<\/p>\n
growth<\/p>\n
infiltration<\/p>\n
Question 6. Question : (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____.<\/p>\n
Student Answer: social arbitrators<\/p>\n
trend watchers<\/p>\n
crowd pullers<\/p>\n
social developers<\/p>\n
social programmers<\/p>\n
Question 7. Question : (TCO 4) Consumer purchasing differs from organizational purchasing in that consumer purchasing _____.<\/p>\n
Student Answer: is influenced more by subconscious and emotional factors<\/p>\n
follows a formal buying process<\/p>\n
has greater complexity in product usage<\/p>\n
involves closer relationships between buyers and sellers<\/p>\n
has a greater emphasis on economic payback<\/p>\n
Question 8. Question : (TCO 4) The process of examining an organization’s current marketing situation, assessing opportunities and setting objectives, and then developing a marketing strategy to reach those objectives is called _____.<\/p>\n
Student Answer: stealth marketing<\/p>\n
strategic marketing planning<\/p>\n
marketing research<\/p>\n
social commerce<\/p>\n
marketing concept<\/p>\n
Question 9. Question : (TCO 4) Selling existing products to new markets is called _____.<\/p>\n
Student Answer: market development<\/p>\n
product development<\/p>\n
market segmentation<\/p>\n
market penetration<\/p>\n
vertical integration<\/p>\n
Question 10. Question : (TCO 4) _____ refer(s) to intermediaries that sell products to other intermediaries for resale or to organizations for internal use.<\/p>\n
Student Answer: Retailers<\/p>\n
Wholesalers<\/p>\n
Department store<\/p>\n
Specialty store<\/p>\n
Convenience store<\/p>\n
Question 11. Question : (TCO 4) One of the valuable services that a wholesaler might perform is _____, in which it receives large shipments from the producer and then sells smaller quantities to retailers.<\/p>\n
Student Answer: rack jobbing<\/p>\n
drop shipping<\/p>\n
bundling<\/p>\n
breaking bulk<\/p>\n
system integration<\/p>\n
Question 12. Question : (TCO 4) _____ are full-service merchant wholesalers who set up displays in retail outlets, stock inventory, and perform other services, such as marking prices on merchandise.<\/p>\n
Student Answer: Rack jobbers<\/p>\n
Agents<\/p>\n
Brokers<\/p>\n
System integrators<\/p>\n
Value-added resellers<\/p>\n
Question 13. Question : (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.<\/p>\n
Student Answer: Federal Communications Commission<\/p>\n
Consumer Product Safety Commission<\/p>\n
Federal Trade Commission<\/p>\n
Federal Advertising Administration<\/p>\n
Federal Regulatory Commission<\/p>\n
Question 14. Question : (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites.<\/p>\n
Student Answer: attack ads<\/p>\n
advocacy advertising<\/p>\n
cooperative advertising<\/p>\n
remarketing<\/p>\n
search engine marketing<\/p>\n
Question 15. Question : (TCO 4) A television commercial promoting a new range of naturally flavored ice cream, manufactured by Ice Fountain, an ice cream and candy manufacturing firm, is an example of which of the following elements in the communication mix?<\/p>\n
Student Answer: Institutional advertising<\/p>\n
Sales promotion<\/p>\n
Social media<\/p>\n
Product advertising<\/p>\n
Personal selling<\/p>\n","protected":false},"excerpt":{"rendered":"
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