Marketing Quiz 2

Front 1

Environmental scanning

Back 1

Collect information to determine and interpret trends

Front 2

Environmental management

Back 2

Attainment of organizational objectives by predicting and influencing different market environments (competitive, socio cultural, tech, political legal)

Front 3

Strategic alliance

Back 3

Partnership of two+ companies to combine resources to create competitive advantage in new market

Front 4

List 5 environments

Back 4

Competitive, political legal, socio cultural, technological, economic

Front 5

Competitive market

Back 5

Competing for consumers purchasing power, directly competitive can substitute

Front 6

Antitrust laws

Back 6

Designed to prevent restraints on trade like monopolies

Front 7

Stages of business cycle

Back 7

Growth, recession, depression, recovery

Front 8

Discretionary income

Back 8

Amount of money people have to spend after buying necessities

Front 9

Demarketing

Back 9

Reducing consumer demand to a level a firm can supply

Front 10

Technological environment

Back 10

Knowledge based on discoveries, science, inventions, and innovations

Front 11

VoIP

Back 11

Voice over internet protocol, phone connection with computer

Front 12

Socio cultural environment

Back 12

Relationship between society and culture and marketer, be sensitive

Front 13

Consumerism

Back 13

Social force within the environment to exert pressure on business and government and protect consumers. Right to be heard, informed, safe, and choose freely

Front 14

Influencers

Back 14

Individuals with capability to influence opinions

Front 15

Cycle of smm (social media marketing)

Back 15

Goals, target audience, develop strategies, produce content, implement plan, monitor and measure

Front 16

Content marketing

Back 16

Creating and distributing relevant material to attract and engage audience with goal of driving them to desired action

Front 17

Oligopoly

Back 17

Few sellers, high startup, keeps our competitors

Front 18

Return on investment

Back 18

Reach, % of people in target market exposed, frequency, number of times exposed

Front 19

Absolute advantage

Back 19

Produce product more efficient than any nation

Front 20

Comparative advantage

Back 20

Produce more efficient than any product

Front 21

Balance of trade

Back 21

Exports minus imports

Front 22

Trade deficit

Back 22

Negative balance of imports

Front 23

Letter of credit

Back 23

Bank will pay beneficiary

Front 24

Bill of lading

Back 24

Transport carrier issues to exporter to prove merchandise has been shipped

Front 25

Draft

Back 25

Issued by bank to order imports bank to pay for merchandise

Front 26

Trading companies

Back 26

Provide link to buyers and sellers in different countries

Front 27

Countertrade

Back 27

International barter transaction

Front 28

Direct competition

Back 28

Similar products

Front 29

Multinational enterprise

Back 29

Operate on world scale without ties to nation

Front 30

Dumping

Back 30

Exportation of large numbers of product at lower price than Home market

Front 31

Non tariff barriers

Back 31

Nontax measure to favor domestic suppliers

Front 32

Embargo

Back 32

Complete halt to trading with particular nation

Front 33

Foreign exchange control

Back 33

Restriction on amount of foreign currency that can be traded

Front 34

WTO

Back 34

World trade organization of 160 nations to reduce or eliminate tariffs

Front 35

Exim bank

Back 35

Export import bank to assist on exports of American firms

Front 36

Mdb multilateral development bank

Back 36

Provides loans to developing countries

Front 37

International Monetary Fund imf

Back 37

Shorterm loans to developing countries experiencing balance of payment deficit

Front 38

Proxy

Back 38

Legal form listing issues to be decided at stockholders meeting

Front 39

Indirect

Back 39

Easily substituted, like fast food, pizza, chicken etc

Front 40

Dividend

Back 40

Distribution of earnings to stockholders

Front 41

Organizational meeting

Back 41

Elect board of directors and form corporation and adopt corporate by-laws

Front 42

Hierarchy of corporate structure

Back 42

Stockholders elect board of directors, appoint officers, to hire employees

Front 43

S corporation

Back 43

Corporation taxed like a partnership, not double taxed. No more than 100 stockholders

Front 44

Syndicate

Back 44

Temporary association of firms to perform a specific task requiring a lot of capital

Front 45

Tender offer

Back 45

Offer to purchase shares at price to tempt stockholders to sell to aquire firm

Front 46

Proxy fight

Back 46

Technique used to gather stockholders votes to control targeted company

Front 47

Horizontal mergers

Back 47

Sell similar products

Front 48

Vertical mergers

Back 48

Operate at different but related levels of production and marketing, like a customer or supplier

Front 49

Conglomerate merger

Back 49

Completely different industry

Front 50

Competitive strategy

Back 50

Methods through which a firm deals with its competitive environment

Front 51

Time based competition

Back 51

Strategy to compete more quickly

Front 52

Political legal environment

Back 52

Laws require firms to operate under competitive conditions and protect consumer rights

Front 53

GDP

Back 53

Sum of all goods and services produced by nation

Front 54

Economic environment

Back 54

Factors that influence consumer buying power and marketing strategies

Front 55

Business cycle

Back 55

Patterns of stages in the level of economic activity

Front 56

Small business administration sba

Back 56

Counsel that assists and protects interests of small businesses

Front 57

SCORE service corps of retired executives

Back 57

Group of 11000 retired and active business people to volunteer services to SBA

Front 58

Small business institutes SBI

Back 58

Senior students in business who provide management counseling to small businesses

Front 59

Franchise

Back 59

License to operate an individually owned business as though it were part of a chain