Marketing
Definitions
Definitions
_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
a. Marketing
b. Sales
c. Production
a. Marketing
A pharmaceutical company with headquarters in India sells fluconazole, the generic version of Pfizer's anti-fungal drug Diflucan internationally for significantly less money than many U.S. generic drug manufacturers. The generic drugs industry in this country needs to rethink its _____ strategy to stay competitive.
a. promotion
b. place
c. possession
d. pricing
d. pricing
Accounting involves the _____ of the financial activities for firms.
a. creation
b. planning
c. delegating
d. summarizing
d. summarizing
____ is any paid form of non personal presentation by an identified sponsor.
a. Publicity
b. Advertising
c. Guerilla Marketing
d. Sales Promotion
b. Advertising
Things of value owned by a firm are called its:
a. liabilities
b. owners' equity
c. tangibles
d. assets
d. assets
What is the ratio of benefits to the sacrifice necessary to obtain those benefits.
a. Relationship marketing
b. Cognitive dissonance
c. Price
d. Marketing value
Geraldine Fadsi's job in the entertainment industry is to bring together entertainers and organizations looking to hire entertainers. Fadsi is paid a commission, usually by the entertainer. Fadsi is acting as a:
a. distributor
b. marketer
c. merchant wholesaler
d. agent
d. agent
A(n) _____ is a summary of what a company has earned and spent over a given period.
a. cash flow statement
b. trial balance
c. income statement
d. balance sheet
c. income statement
The blend of the marketer's tools is called the five Ps. Which of the following is NOT one of the four Ps?
a.place strategy
b.possession strategy
c.pricing strategy
d.product strategy
b. possession strategy
Another term for owners' equity is:
a. net worth
b. assets
c. gross worth
d. gross sales
a. net worth
What is customer satisfaction?
a. refers to the customer's feeling that a product has met or exceeded expectations
b. determines what kind of marketing strategy will be used
c. is the same as customer value
d. all of the above
a. refers to the customer's feeling that a product has met or exceeded expectations
When the producers of Ocean Spray cranberry products decided to make Craisins (a dried cranberry snack food) available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy.
a.promotion
b.distribution
c. product
b.distribution
The Sarbanes-Oxley Act:
a. mandated the use of international accounting standards
b. set national requirements for becoming a practicing CPA
c. restricts the types of nonaudit services auditors can provide audit clients
d. dealt with accounting issues relevant to NAFTA members
c. restricts the types of nonaudit services auditors can provide audit clients
The _____ is a specific group of consumers toward which a firm directs its marketing efforts.
a. package market
b. utility group
c. demand group
d. target market
d. target market
The _____ summarizes an organization's financial status at the end of an accounting period.
a. cash flow statement
b. balance sheet
c. income statement
d. trial balance
b. balance sheet
The pricing strategy of marking products below normal markup or even below cost to attract customers to a store where they would not otherwise shop is called _____ pricing.
a. skimming
b. leader
c. economy
d. psychological
b. leader
Mike and Ike, the fruit-flavored chewy candies, needed a major facelift. The brand had a small but loyal core of "munchers." A relatively small brand, it needed visibility to take on share leaders like Starburst and Skittles. The company changed its packaging and developed contests all geared to 12- to 17-year-olds. The makers of Mike and Ike have modified its _____ strategies.
a.place and price
b.promotion and price
c. product and promotion
d. product and promotion
To ensure accuracy and consistency in the way financial information is reported, accountants follow rules known as:
a. accounting rules and principles
b. financial accounting standards
c. comparable accounting standards
d. generally accepted accounting principles
d. generally accepted accounting principles
What are the two types or retailing?
a. in-store and out-store
b. virtual and concrete
c. in-store and non-store
d. functional and non-functional
c. in-store and non-store
Liquidity ratios measure:
a. long-term financial stability
b. earnings per share
c. short-term financial stability
d. ability to pay dividends
c. short-term financial stability
_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.
a. Bait
b. Prestige
c. Specialty
d. Psychological
e. Leader
b. Prestige
iddle class), franchises like Pizza Hut have created 100 percent vegetarian menus. By eliminating all meat from pizzas, the Indian Pizza Huts have engaged in a _____ strategy.
a. production
b.pricing
c.product
d.place
c.product
The Financial Accounting Standards Board (FASB) is a:
a. federal government agency that is responsible for establishing financial accounting standards in the United States
b. United Nations organization that is responsible for establishing financial accounting standards globally
c. private organization that is responsible for establishing financial accounting standards in the United States
c. private organization that is responsible for establishing financial accounting standards in the United States
The two types of distribution channels are:
a. functional and networked
b. wholesaler and retailer
c. industrial and consumer
d. manufacturing and marketing
c. industrial and consumer
Profitability ratios are used to:
a. measure of the firm's ability to pay its current liabilities
b. measure the degree and effect of a firm's use of borrowed funds on its operation
c. determine how efficiently a company's manages its retained earnings
d. determine how efficiently a company is being managed
d. determine how efficiently a company is being managed