Fgb 135 - Final

Front 1

A(n) ____ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

Back 1

channel of distribution

Front 2

A ____ sells a wide selection of goods in one category.

Back 2

specialty store

Front 3

Appliance manufactures such as Whirlpool are most likely to use a(n) _____ distribution strategy for their products.

Back 3

selective

Front 4

In ____, salespeople are independent contractors who not only sell the product, but also recruit additional salespeople.

Back 4

multilevel marketing

Front 5

C.J. Computers is a major computer manufacturer that also owns all of the organizations in the channel of distribution for its computers, including a chain of C.J. Direct retail stores. C.J. is using a:

Back 5

corporate distribution system (Sherwin Williams)

Front 6

_______ involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.

Back 6

Logistics

Front 7

Those organizations that assist in the movement of goods and services from producer to industrial and consumer users are known as:

Back 7

marketing intermediaries

Front 8

A _____ is a marketing intermediary that sells to ultimate consumers.

Back 8

retailer

Front 9

A(n)____ is one type of marketing intermediary that brings together buyers and sellers and assists in negotiating an exchange, but does not take title to the goods.

Back 9

agent

Front 10

Marketing intermediaries:

Back 10

add value that exceeds the cost.

Front 11

Chad Johnson owns a card shop in a small shopping center where he sells cards produced by a national company. Chad sells to final customers, so he is a(n):

Back 11

retailer

Front 12

______ is the value or want-satisfying ability that is added to products by organization that make the product more useful or accessible to consumers.

Back 12

Utility

Front 13

____ utility is usually provided by producers

Back 13

Form

Front 14

The types of utility commonly provided by marketing intermediaries include:

Back 14

time, place, possession, information, and service.

Front 15

Placing ads in newspapers and having knowledgeable salespeople to answer customers' questions are ways marketing intermediaries can provide:

Back 15

information utility

Front 16

Marketing intermediaries add _____ utility to products by having them available when consumers want them.

Back 16

time

Front 17

____ means selling goods and services to ultimate consumers over the internet.

Back 17

Electronic retailing

Front 18

_____ manages the movement of raw materials, parts,work in progress, finished goods and related information throughout the supply chain, as well as managing the return of goods when necessary and the recycling of goods when appropriate

Back 18

Supply chain management

Front 19

When the truck trailers are placed on ships, the process is called:

Back 19

Fishyback

Front 20

Which of the following activities would be most closely associated with inbound logistics?

Back 20

working with suppliers to establish a more frequent delivery system that will enable the manufacturing firm to hold smaller inventories of parts and materials.

Front 21

One of the toy manufacturers has discovered that some of its toys have high toxic chemicals that may cause serious illness in the children. The company believes it must quickly develop and implement a recall program. It is likely that the Toy manufacturer soon will be placing a great deal of emphasis on:

Back 21

reverse logistics

Front 22

Jen Carter is trying to find ways to improve her firm's movement of materials and goods from its warehouse to the factory floor. Jen is looking into ways of making her firm's ________ more efficient.

Back 22

materials handling

Front 23

Shoestars producers top-quality high-fashion shoes, designed for the person concerned about style. Shoestars gives only a few preferred retailers in a given market area the right to market its product. Shoestars uses:

Back 23

selective distribution.

Front 24

The goal of _______ is to combine all the promotional tools used by a firm into one comprehensive and unified promotional strategy.

Back 24

integrated marketing communication.

Front 25

TV programs devoted exclusively to promoting goods and services are called:

Back 25

infomercials

Front 26

The last stage of the selling process is:

Back 26

follow up

Front 27

Sarah is a new salesperson for a company that publishes college textbooks. She is currently developing a list of professors at a college in her sales district that teach courses that might make use of one or more of the books her company publishes. She then plans to determine which of these professors are involved in the textbook selection process so that she can visit them in the near future. The task Sarah is preforming is know as:

Back 27

prospecting and qualifying.

Front 28

The management function that evaluates public attitudes and executes a program of action to earn public understanding and acceptance is called:

Back 28

public relations.

Front 29

_____ is the term now used to describe such tactics as paying people to say good things about a product on the internet or setting up multilevel selling schemes that reward people for directing their friends to a company's website.

Back 29

Viral marketing

Front 30

The goal of ______ is to inform and remind people in a target market about a specific products, eventually persuading them to participate in an exchange.

Back 30

promotion

Front 31

The combination of advertising, personal selling, public relations, and sales promotion activities traditionally used by an organization represents its:

Back 31

promotion mix.

Front 32

A promotional campaign begins by:

Back 32

identifying a target market.

Front 33

Which of the following statements is the most accurate?

Back 33

New promotional efforts create a more interactive approach, developing a dialogue between the firm and its customers.

Front 34

______ refers to the face-to-face presentation and promotion of goods and services. This also includes searching for prospects and providing follow-up services.

Back 34

Personal selling

Front 35

An online diary that looks like a Web page but is easier to create and update is called a

Back 35

blog

Front 36

The medium that accounts for the largest share of total advertising expenditures is:

Back 36

cable and broadcast television.

Front 37

Which of the following is a major strength of direct mail advertising?

Back 37

ability to accurately target specific markets

Front 38

The preparation of financial statements for people outside the firm (creditors, unions, suppliers, and others) is the goal of:

Back 38

financial accounting

Front 39

Men Casual, a chain of retail clothing stores, wants to assure investors and other outsiders that its financial statements are accurate. One way to do so would be to hire a public accounting firm to:

Back 39

perform an independent audit.

Front 40

One of the major financial statements prepared in the fifth step of the accounting cycle is the:

Back 40

statement of cash flows.

Front 41

John works as an accountant for a mid-sized retail store. He has just completed a trial balance that turned up no unexpected problems. John's next major task is likely to be:

Back 41

preparing the store's financial statements.

Front 42

Which financial statement represents what the company owns and owes as of a specific date?

Back 42

balance sheet

Front 43

The fundamental accounting equation states that assets equal ______.

Back 43

liabilities plus owner's equity

Front 44

A major purpose of any accounting is to:

Back 44

provide financial information that is useful to decision makers.

Front 45

Michelle wants to start her own business, but knows little about how to set up an accounting system or interpret financial information. "I'm not worried about accounting," she tells her friends, "I'll just hire a part-time bookkeeper to handle all that type of stuff, and focus my attention on what I like - finding ways to satisfy my customers." Which of the following is the best response to Michelle's comments?

Back 45

Although you can hire someone to keep your books, you'll still need to know how to read, understand, and interpret basic accounting reports in order to make good business decisions.

Front 46

The accounting profession is divided into 5 key working areas, two of which are:

Back 46

auditing and tax accounting.

Front 47

Amanda ________ provides accounting services to individuals or firms on a fee basis. Amanda is a:

Back 47

public accountant

Front 48

_______ involves the review and evaluation of the records that are used to prepare the organization's financial statements.

Back 48

Auditing

Front 49

The individuals in a firm that are responsible for the development of strategies to minimize taxes are called:

Back 49

tax accountants.

Front 50

The three key financial statements of a business are the:

Back 50

Income statement, balance sheet, and the statement of cash flows.

Front 51

Which financial statement reports the company's revenues and selling costs over a period of time?

Back 51

income statement

Front 52

The "bottom line" of an income statement shows the firm's:

Back 52

net income or net loss

Front 53

Accounting recognizes that assets, such a machinery and buildings, lose value over time. Accountants will record a portion of the cost of an asset as an expense each year through the use of:

Back 53

depreciation

Front 54

The financial ratios that measure a firm's ability to pay its short-term debts are called:

Back 54

liquidity ratios.

Front 55

Earning per share, return on sales, and return on equity are all examples of:

Back 55

profitability ratios

Front 56

Part of the net income that is reinvested in the firm represents:

Back 56

retained earnings.

Front 57

To effectively run a business, it is necessary to:

Back 57

understand and use accounting information.

Front 58

The accounting statement that reports cash receipts and disbursements for a business is called the:

Back 58

statement of cash flows.

Front 59

______ is the degree to which consumers are satisfied with the brand and are committed to further purchases.

Back 59

Brand Loyalty

Front 60

A group of products that are physically similar or are intended for a similar market is called _______.

Back 60

Product Line

Front 61

__________ means promoting the product to distributors and retailers to get wide distribution and developing strong advertising and sales campaigns to generate and maintain interest in the product among distributors and consumers.

Back 61

Commercializtion

Front 62

Phil asks you to calculate the break-even point for his firm. You respond that you will need the following information:

Back 62

total fixed costs, selling price per unit, and variable costs per unit.

Front 63

______ uses price points to establish prices that help create the impression that the product is less expensive than it is.

Back 63

Psychological pricing

Front 64

A skimming pricing strategy:

Back 64

establishes a high price in order to earn the highest possible profit while there is little competition.

Front 65

Department stores often use _______ pricing in which they have regular prices which are relatively high, but offer special sales where prices are set lower than competitors.

Back 65

high-low

Front 66

Producers often use _______ as a primary basis for setting prices on the goods and services they offer the public.

Back 66

costs

Front 67

Ben, Litong, and Jared's promotional efforts are intended to increase the public's awareness of their new product's benefits and uses. This effort is consistent with the _______ stage of the product life cycle model.

Back 67

introduction

Front 68

Sales of iPhones are still increasing, but the rate of growth has slowed. Sales are expected to peak later this year. Based on this information, iPhones are in what stage of the product life cycle?

Back 68

maturity

Front 69

Which stage of the product life cycle is characterized by rapidly rising sales, very high profit levels, and a growing number of competitors?

Back 69

growth

Front 70

The ______ is a theoretical model that describes the sales and profit performance of a product class over time.

Back 70

product life cycle

Front 71

When the total revenue equals the total cost, a company experiences a:

Back 71

Break- even Point

Front 72

The management function that evaluates public understanding and acceptance is called:

Back 72

public relations.