Chapter 6
What are the three components of the product mix?
Product line, packaging, and brand
What refers to the requirement for Internet service providers to treat all Internet traffic the same?
Net neutrality
The lowest point of a contraction phase in the business cycle is known as
The first step in developing a promotional plan is to
Identify the target customers.
A detailed set of instructions on how to sort data is called a
Algorithm
What are three examples of fringe benefits?
A company car, medical insurance, and bonuses.
To offer video game streaming, distributors will need to use
Cloud computing
For businesses with pronounced seasonal cycles, what is the term for a period of moderate demand?
Shoulder period
Which entertainment awards show honors excellence on Broadway?
Tony awards
Kelvin surveys the crowd at a concert and estimates that about 2,000 people are in attendance. This is an example of
Soft data
What is the most important element for future success of college teams?
Recruitment
What occurs when a company buys or controls the supplier or developer of a product?
Distinct categories of merchandise based on price, quality, and features are referred to as
Price lines
A television commercial for State Farm Insurance featuring Green Bay Packers' quarterback Aaron Rogers is an example of a
Celebrity endorsement
The process of organizing data from multiple sources into usable information is called
Convergence analytics
What stage of the product life cycle do product sales level off?
Maturity stage
What sports are an example of a nonrevenue sport in collegiate athletics?
Tennis, Swimming, and track and field.
What term describes the highest point of growth in the business cycle?
Peak
The give-and-take between the participants in an event triangle is called?
Exchange
A group of people who share certain characteristics is called a
Cohort
Businesses that market products as "new and improved" are using which strategy to manage the decline stage of the product life cycle?
Modernize/ alter
An organization of independent businesses formed to control production, pricing, and marketing of a product is called a
Cartel
All the costs associated with running a business in addition to the price of merchandise are called
Operating expenses
What are the three parts of an event triangle?
Sponsors, fans, and the event
A small number of people representative of a larger group is called a
Sample