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Chapter 11-16 BUS 101 J. Matthews

_____ is not just selling and advertising; it is a systematic approach to satisfying consumer through creating, distributing, pricing, and promoting goods, services, and ideas.
Buying behavior refers to the decision processes and actions of people who purchase and use products.
The ______ is the basic philosophy that guides all marketing activities.
Marketing concept
Psychographic characteristics of segmentation include personality characteristics, motives, and lifestyles.
Marketing occurs only in large business organizations.
_______ is information that is complied inside or outside an organization for some purpose other than changing the current situation.
Secondary Data
_______ usually have both favorable and unfavorable attributes.
In the marketing environment underemployment, purchasing power, and general economic conditions all fall under the _______ forces.
Competitive and Economic
A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.
Customer satisfaction is a goal of the marketing concept.
______ is knowledge and positive or negative feelings about something is a psychological variable of buying behavior.
If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has.
The ______ function expedites purchases through making credit available.
As long as both a buyer and seller have something of value to exchange, and exchange will take place.
________ requires organization to gather information about customer needs, share that information throughout the entire firm, and use it to help build long term relationships.
Market Orientation
Although customer satisfaction is the goal of the marketing concept, a business must also achieve its own objectives.
The best products in the world will not be successful unless companies make them available where and when consumers want to buy them.
Penetration pricing is less flexible than price skimming.
Products can be goods, services, and ideas.
Marketers are blurring the lines between television ads and the Internet by directing consumers to a website for more information.
Promotion is used only to sell products.
Raw materials are natural products taken from the earth and are a subset of business products.
Stimulating demand is especially important when a firm is using a pull strategy.
The use of a pull strategy means that marketers attempt to motivate middlemen to make a product available to their consumers.
False (Push)
Pricing objectives are influenced solely by marketing mix decisions.
Maximizing profits and sales, boosting market share, maintaining the status quo, and survival are common pricing objectives.
The Internet is not a valid advertising medium.
Distribution channels for consumer products and business products are the same.
Factors such as characteristics of the intended audience, the objective, and the platform used can all affect how an advertising campaign is constructed and its message.
Exclusive distribution makes a product available in as many outlets as possible.
False (Inclusive)
Most new product ideas are rejected during the business analysis phase.
Of the thousands of products introduced every year, most succeed.
The _____ has helped marketers to reach target markets that were previously inaccessible to many businesses.
______ are a valuable part of marketing bc they change the way consumers communicate with each other and with firms.
Social Networks
The phenomenal growth of digital media has provided new ways of conducting business.
Intellectual property is technically protected by patents and copyrights, but companies still suffer billions of dollars in losses related to intellectual property theft each year.
_____ are consumers who create their own media outlets, such as blogs, podcasts, consumer generated videos and wikis.
Social networking sites are useful for relationship marketing or the creation of relationships that mutually benefit the marketing business and the customer.
______ is when criminals obtain personal information that allows them to impersonate someone else in order to use their credit card to access financial accounts and make purchases.
Identity theft
With customer-generated video content increasingly available, some companies are using it instead of professional advertising firms.
An audio or video file that can be downloaded from the Internet with a subscription that automatically delivers new content to listening devices or personal computers is called _______.
Companies are beginning to use mobile marketing to offer additional incentives to consumers in order to remain competitive.
Phising is a scam in which con artists counterfeit a well-known website and end out e-mails directing victims to it.
______ occurs when a message gets sent from person to person to person.
Viral marketing
_______ is short for web logs.
_____ are websites where users can add to or edit the content of posted articles.
Consumer feedback is an important part of the digital media equation.
Digital media can also impedes communication within and between businesses.
Negative cash flow always indicates that a company is in financial trouble.
A ______ shows the financial position of an organization at any given moment in time.
Balance Sheet
______ brings the information on financial statements into sharper focus so that a firm’s managers and others can measure its productivity, profitability, and sources of financing relative to other firms.
Ratio analysis
The _____ is also known as the acid test.
Quick Ratio
______ is a four step process that examines source documents, records transactions, and prepare financial statements.
The Accounting Cycle
Profitability ratios measure how efficiently a firm uses its assets to generate $1 of sales.
______ show how fast a company can turn current assets into cash to pay off short-term debt.
Liquidity Ratio
Accounting is the recording, measurement, and interpretation of financial information.
Assets = Liabilities + OE known as the _______
The Accounting Equation
In a _____ assets are transferred to another entity with the contractual promise of buying them back at a set price.
Repurchase Agreement
An example of double taxation is when Dividends per share payments are made from earnings after taxes by the corporation but is still taxable income for the shareholder.
_______ is an internal financial plan that forecasts expenses and income over a set period of time.
Expenses are the costs incurred in the day to day operations of an organization.
The income statement, the balance sheet, and the statement of cash flows are all considered financial statements.
_____ measure how much debt a company is using relative to other sources of capital.
Debt Utilization Ratios
Small businesses do not use the financial language of accounting.
The US government created the _______ in an effort to prevent economic collapse during the most recent financial recession.
Troubled Asset Relief Program (TARP)
The three important functions of money are that it serves as a medium of exchange, a measure of value, and a store of value.
______ have become an increasingly popular substitute for money because of their convenience and acceptance by merchants around the world.
Credit Cards
_____ is the study of money; how its made, how it’s lost, an show it’s managed.
Mutual funds spread the risk of investing across many securities.
One of the major functions of _____ is regulating banks and other financial institutions.
The Federal Reserve Board
A credit union is owned and controlled by a larger bank.
False – it’s depositors
_____ are businesses that offer short term loans at substantially higher rates of interest than banks.
Finance companies.
A medium of exchange known as bartering is trading one good or service for another of similar value.
A form of electronic banking that provides 24 hour banking services and is accessible worldwide is known as _______.
Automated Teller Machines (ATM)
______ was established in 1933 to help stop bank failures through the country during the Great Depression.
The Federal Deposit Insurance Corporation (FDIC)
The second major monetary policy tool is the reserve requirement.
______ are savings accounts that guarantee a depositor a set interest rate over a specified interval as long as the funds are not withdrawn before the end of the interval.
Certificates of deposit
An Individual Retirement account (IRA) is a type of savings accounts.
There is a division of the Fed that handles almost all the checks written against a bank in one city and presented for deposit to a bank in the second city known as a ________.
Check Clearninghouse
______ buy and sell stocks, bonds, and other securities for their customers.
Brokerage firms
The capital in excess of par account is usually significantly smaller than the par value account on a balance sheet.
False (larger)
One aspect of financial management involves managing cash flow for a business on a daily, weekly, monthly, and yearly basis.
The longer a project or asset is expected to last, the smaller is its potential risk.
A bond can be transferred from one owner to another.
Interest is a percentage of the principal that the bank charges for use of its money.
Bonds can be issued only by corporations.
Securities markets provide liquidity.
The over-the-counter market is a network and does not have a central location for trading.
A marketable security is a temporary investment of cash.
Eurodollar deposits can only be made at banks located in London.
An operating lease is a long-term contract that shows up on the balance sheet as an asset and a liability.
The principal is the amount of money a business pays to use a bank’s funds.
False (interest)
The par value is the interest rate on a bond.
Most business failures are the result of poor long-term financial planning.
In organized exchanges, investors buy and sell only for their own accounts.
Common stock is a safer investment than preferred.
False (Preferred)

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