Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

104 Cards in this Set

  • Front
  • Back
planing and executing the conception, pricing, promotion, and distribution of ideas, goods, and services, to create exchanges that satisfy individual organizational objectives.
everything a company does for its customersm and maintaining relationships with customers long after the transaction is complete
Customer Service
describes efforts to market geographical areas ranging from neighborhoods to entire countries
Place Marketing
Promotes causes or social issues, such as physical fitness. cancer awareness, recycling, or highway safety, while also promoting a company and its products
Cause Related Marketing
Anytime there is a difference between your actual state and your ideal state
Based on your needs but more specific
Trading something of value for something else of value
Exchange Process
Any atribute the increases the value that consumers place on the product
When organizations change raw materials into finished goods
Form Utility
Markerers try to make their products available when and where the customers want to buy them
Place Utility
The idea that companies should respond to customers needs and wants while seeking long term profitability and coordinating their own marketing efforts to acheive the comanys long term goals
Marketing Concept
Often applied to these efforts to distinguish them from efforts that emphasize production or sales transactions
Relationship Marketing
Customers dont know theyre being marketed to
Stealth Marketing
Inviting customers to learn information about the product
Permission Based Marketing
Made up of individuals and families who buy for personal or household use
Consumer Market
Composed of both companies and a variety of noncomercial institutions, from local schools to the federal govornment
organizational market
The process of recording and analyzing customer interactions, preferences, and buying behavior for the purpose of contacting and transacting with customers
Database Marketing
Consists of dividing your market into segments, choosing your target markets and the position you'd like to establish in those markets. and then developing a market mix to help you get there
Marketing Strategy
Contains all the customers or businesses that might be interested in a product and can pay for it.
Dividing the market in an educational and feasable manner.
Market Segmentation
Focusing on a specific market segment
Target Marketing
The process of designing your company's offerings, messages. and operating policies so that both the company and its progucts occupy distinct and disirable competitive positions in your target customers minds
Consists of product, price, place or distribution, and promotion
Marketing Mix
The amount of money customers pay for the product.
Charging high at first, then later dropping the price
Skim Pricing
Charging a low initial price
Penetration Pricing
Combining several products, and selling them at a reduced price
Bundle Pricing
Ferrari focuses on which type of marketing.
Typically, barber shops focus on the ¬ and door-to-door salespersons focus on the ¬ in terms of marketing perspectives.
relationship; selling
In a Michigan plant, Ford mass produces cars in a timely manner and distributes them to car dealers to be sold to the final consumer. The consumer value Ford creates is
form utility
Which is not a common factor in determining market segments?
Which of the following statements is true?
a marketing strategy is a firm’s overall plan to market a product
Creating a new variation of a basic product is called
line extension
I have already generated and screened ideas and performed a business analysis. The next stage of product development I will tackle is
prototype development
I’m starting a store in which I will offer an extensive selection of limited products. I’m starting a like .
specialty store; BG Bookstore
Intermediaries are added into a distribution channel when they increase
The strategy of coordinating and integrating communications and promotional efforts with customers to ensure greater efficiency and effectiveness is
integrated marketing communications
The market coverage for clothes is
Market coverage for cars is intensive.
Choosing one distribution channel over another does NOT depend on which of the following
the number of outlets where the product is available
B the cost of distribution
C the need for control over the product as it moves through the channel to the final consumer
D they all matter
Independent wholesalers that do not take title to the goods they distribute, but may or may not take possession of these goods, are called
B agents and brokers
Which is true
reminder advertising is intended to remind existing customers of a product’s availability and benefits
Consumer products are more likely to rely on pull strategies whereas organizational products are more often pushed.
Which is not one of the three most common types of sales support personnel
order takers
The preparation of financial statements is one major component of the
financial accounting system
On the income statement, expenses subtracted from revenues equals
net income
4. ABC Company’s income statement indicated that net income was $100,000. Therefore, any cash transactions for the following year should be deducted from this initial cash balance
Popeye receives payment Tuesday for a hamburger he sold Monday (costs incurred Saturday). The costs are recorded
Monday because of the matching principle
The type of audit opinions companies desire are , and are provided by .
Unqualified; Independent
A qualified audit opinion indicates the financial statements are fairly presented in all material respects in accordance with GAAP, and signifies that the company is in good financial standing.
One way to compare the financial performance in terms of profitability of McDonald’s to Burger King is to use the following ratio.
Return on Assets
SOX broadens the authority of the
Securities and Exchange Commission
Many people lost their savings in investments of computer-based companies during the dot-com boom. Since it was a relatively new market and in high demand, investors took a risk in hopes of return.
high; high
The creation of financial leverage is a result of
debt financing
Just as corporations sell ________ to finance operations, governments sell ______ to raise money for public expenses.
stocks; bonds
The part of authorized stock that companies sell to shareholders is called ________, while unsold part is called _______.
issued; unissued
Which of the following is NOT an advantage of owning preferred stock?
Shareholders receive lower dividends on preferred stocks
__________ are short-term U.S. government bonds that are repaid in less than one year, while _______ are intermediate-term U.S. government bonds that re repaid from 1 to 10 years after they were initially issued.
Treasury bills; treasury notes
________ is the return that investors receive when they sell a security for a higher price than the purchase price.
Capital gains
________ are legally binding agreements to buy or sell financial instruments at a future date.
Financial futures
A manufacturer of breakfast cereals must buy wheat, rye, oats, and sugar from hundreds of farmers. These raw materials are called _______.
In the ¬¬¬¬¬¬¬¬¬¬¬¬¬_______ market, firms sell new securities issued publicly for the first time, whereas subsequent owners trade previously issued shares of stocks and bonds in the ________ market.
primary; secondary
________ is a (are) financial institution(s) that raise capital for corporations and government bonds.
Investment banks
_________ is the illegal use of nonpublic information to make an investment profit.
Insider trading
Which of the following are factors to be considered in selecting an investment?
A rate of return
B growth
C liquidity
D all of the above
________ are investors who purchase securities in anticipation of making large profits quickly.
The most famous U.S. stock index is the _______, which tracks the prices of 30 blue-chip or well-established stock, each representing a particular sector of the U.S. economy.
Dow Jones Industrial Average
The best way to reduce risk of overall loss by investing in several different areas is know as _______.
Investors sometimes borrow cash to buy stock. This practice is called _______.
margin trading
System a business uses to identify, measure, and communicate financial info to others, inside and outside the org.
Concerned with pairing financial statements and other info for outsiders such as stockholders and creditors.
Financial Accounting
Concerned with pairing cost analyses, profitability reports, budgets and other info for insiders and managment
Managment Accounting
Computing and analyzing production costs
Cost Accounting
Preparing tax returns and interpreting tax law
Tax Accounting
Evaluating a companys performance and the financial implications of strategic decisions such a product pricing, employee benefits, and business acquisitions
Financial Analysis
Accountants that work for business, a gov. agency, or a nonprofit corporation
Private Accountants
Independent of the businesses, organazations, and individuals they serve, employed by firms
Public Accountants
A formal evaluation of a companys taxing records
Basic accounting stantdards and procedures that have been agreed upon by regulators auditors and companies over decades
Investor protection act
Valuable items owned or leased
Claims against assts
What remains after liabilities have been deducted from assets
Owners Equity
Accounting Equation
Assets = Liabilities + Owners Equity
System that records every transaction affecting asstes, liabilities, or ownets equity
Double-Entry Bookkeeping
Requires that expenses incurred in producing revenues be deducted from the revenue they generated during the same accounting period.
Matching Principle
Revenue is recognized when you complete a sale, or provide a service not when you get paid.
Accrual Basis of Accounting
A company that records sales only after the cash is actually recieved.
Cash Basis of Accounting
The allocation of the cost of a tangible long-term investment over a period of time
A snapshot a companies financial position on a particular date
Balance Sheet
Covering from Jan 1 to Dec 31
Calandar Year
Coverying and consecutive 12 month period
Fiscal Year
Include items that will or can become cash in the following year
Current Assets
Longterm and other tangible property that has a value life of more than a year
Fixed Assets
The portion of shareholders equity that is not distributed to its owners in the form of dividends
Retained Earnings
Shows an organizations profit perfromance over a specific period of time, typically one year.
Income Statement
The costs that have arisen in generating revenues
A document that shows the funds a frim will need for a period of time as well as the sources and uses of those funds
Financial Plan
The money owed to the firm by its customers
Accounts Recievable
The bills that a company owes to its suppliers, lenders, and other parties
Accounts Payable
Financial blue print for a period of time, often one year
Using something of value to back a loan
Computerized systems that allow users to conduct financial transactions efficiently from remote locations
Electronic Funds Transfer Systems (EFTS)
Allow users to withdrawl money at any time
Automated Teller Machines (ATM)