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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.
Marketing
Buying behavior refers to the decision processes and actions of people who purchase and use products.
True
The ______ is the basic philosophy that guides all marketing activities.
Marketing concept
Psychographic characteristics of segmentation include personality characteristics, motives, and lifestyles.
True
Marketing occurs only in large business organizations.
False
_______ 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.
Products
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.
True
Customer satisfaction is a goal of the marketing concept.
True
______ is knowledge and positive or negative feelings about something is a psychological variable of buying behavior.
Attitude
If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has.
True
The ______ function expedites purchases through making credit available.
Financing
As long as both a buyer and seller have something of value to exchange, and exchange will take place.
False
________ 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.
True
The best products in the world will not be successful unless companies make them available where and when consumers want to buy them.
True
Penetration pricing is less flexible than price skimming.
True
Products can be goods, services, and ideas.
True
Marketers are blurring the lines between television ads and the Internet by directing consumers to a website for more information.
True
Promotion is used only to sell products.
False
Raw materials are natural products taken from the earth and are a subset of business products.
True
Stimulating demand is especially important when a firm is using a pull strategy.
True
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.
False
Maximizing profits and sales, boosting market share, maintaining the status quo, and survival are common pricing objectives.
True
The Internet is not a valid advertising medium.
False
Distribution channels for consumer products and business products are the same.
False
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.
True
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.
False
Of the thousands of products introduced every year, most succeed.
False
The _____ has helped marketers to reach target markets that were previously inaccessible to many businesses.
Internet
______ 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.
True
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.
True
_____ are consumers who create their own media outlets, such as blogs, podcasts, consumer generated videos and wikis.
Creators
Social networking sites are useful for relationship marketing or the creation of relationships that mutually benefit the marketing business and the customer.
True
______ 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.
True
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 _______.
Podcast
Companies are beginning to use mobile marketing to offer additional incentives to consumers in order to remain competitive.
True
Phising is a scam in which con artists counterfeit a well-known website and end out e-mails directing victims to it.
True
______ occurs when a message gets sent from person to person to person.
Viral marketing
_______ is short for web logs.
Blogs
_____ are websites where users can add to or edit the content of posted articles.
Wikis
Consumer feedback is an important part of the digital media equation.
True
Digital media can also impedes communication within and between businesses.
False
Negative cash flow always indicates that a company is in financial trouble.
False
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.
False
______ 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.
True
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.
True
_______ is an internal financial plan that forecasts expenses and income over a set period of time.
Budget
Expenses are the costs incurred in the day to day operations of an organization.
True
The income statement, the balance sheet, and the statement of cash flows are all considered financial statements.
True
_____ 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.
False
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.
True
______ 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.
Finance
Mutual funds spread the risk of investing across many securities.
True
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.
True
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.
True
______ 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.
False
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.
True
The longer a project or asset is expected to last, the smaller is its potential risk.
False
A bond can be transferred from one owner to another.
True.
Interest is a percentage of the principal that the bank charges for use of its money.
True
Bonds can be issued only by corporations.
False
Securities markets provide liquidity.
True
The over-the-counter market is a network and does not have a central location for trading.
True
A marketable security is a temporary investment of cash.
True
Eurodollar deposits can only be made at banks located in London.
False
An operating lease is a long-term contract that shows up on the balance sheet as an asset and a liability.
False
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.
True
Most business failures are the result of poor long-term financial planning.
True
In organized exchanges, investors buy and sell only for their own accounts.
False
Common stock is a safer investment than preferred.
False (Preferred)

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