Topic 1
The final business organization in an indirect channel of distribution for consumer products?
Retailer
A receivers response to a message
feedback
Stage in the sales process that involves gathering preliminary information and preparing a preliminary sale pitch
preapproach
In this type of economy, the primary business activity is the manufacturing of products
industrial economy
The four P's Of the Marketing Mix are:
Product, Place, Price and Promotion
A very large retail store that offers consumers wide choices of products at a lower price
superstore
The fastest growing type of advertising
internet advertising
A limit on the specific type of product that foreign countries can sell in the country
quota
Risk is usually not insurable if it is
speculative
If a businesses expense exceed revenue, what will result
a loss
Patents are granted to inventors of unique products for a period of
20 years
Most advertising dollars are spent on
television ads
The average output by workers for a specific period of time
productivity
Product life cycle mainly illustrates
how demand changes for products
A financial statement that shows income, revenue and expenses is called
an income statement
When a company lures customers with offers of low prices and then tells them the product is unavailable
bait and switch
A type of advertisement that gives the audience the feeling that they are watching or hearing a real event
dramatization
When my retail store does not offer its own credit card, but accepts several national credit cards.
transferring risk
The four stages of the Product life cycle are
Introduction, growth, maturity and decline
A business owed by people who purchase stock in the company
corporation
The costs to a business that do not change no matter what quantity of the product is produced
fixed costs
A pricing strategy in that different product or transportation costs are set for a specific area in the seller's market
zone pricing
If you have a chance to gain as well as lose from risk, it is known as
speculative risk
The four main participants in an indirect channel of distribution are:
Producer/Manufacturer, Wholesaler, Retailer and Final Consumer
What does SMART stand for?
Specific, Measurable, Achievable, Relevant and Timely