Business test 2

if a partnership wishies to limit liability, it has the option to

set up a limited partnership

The board of directors of a corporation is elected by the __________.

stockholders

which of the following is an interpersonal determinant of consumer behavior

family influences

greg buys a mcdonalds franchise. greg is the _____ and _____ for mcdonalsds

franchisee; does not work

what percentage of new businness fall within the first ten years

more than 75 percent

an acquision occurs when

one company purchases the property and ssumes the obligations of another company

the board of directors usually include some individuals who are not employed by the corporations. these people are refered to as

outside directors

candace is planning to open a consulting business in handling hospital wastes...solve problem through

outsourcing

many business fail during the early years because of

inadequate financing

the most basic form if promation is

personal selling

what percentage of small businness are owned by women

17

Companies use ________ to focus on a specific consumer market by combining product, distribution, promotion, and pricing strategies.

a marketing mix

a business plan for a small business typically contains all the following EXCEPT

a time frame for selling stock to investors

Haseem owns a small business and needs assistance on a variety of issues. The Small Business Administration (SBA) can help him by providing __________.

an on-site counselor

a paid, non personal sales communication usually directed at a large number of potential buyers is

advertising

which demographic/economic trend has increased the oppertunities for entreprenurs

aging population

entreprenurs rely on all of the following EXCEPT

bank loans

collin works for a large design business, but he feels the company is headed in the wrong direction and managment is not appreciative of his ideas . collin is most likely to become an entrepreneur in order to

become his own boss

a written document that provides a statement of a companys goals, method for achieving goals , and standards for measurement is

business plan

limited partners

can only lose the amount of their investment

A __________ would most likely be publicly owned.

city sewer system

the process of finalizaing a sale is the

closing

subaru offers a versions of its outback called the l.l. bean editon . this is an example of

cobranded product

Isabella owns 100 shares of IBM __________ stock, which means she has voting rights on company decisions at IBM, but only residual claims on the company's assets.

common

the current marketning period is referred to as the ____-era

demographics

a pushing promotional strategy is

designed to market the product line or service to wholesalers and retailers

corporations have all of the following advantages EXCEPT

favorable tax treatment

approximately how much does it cost to attract one new customer than to keep an existing one

five times as much

utility is created when the business firm converts raw materials into finished goods and services

form

the two principals in franchisng agreement are

franchiser and franchisee

The advertising plan for a franchise is usually put together by the __________.

franchisor

when customers scan their "preferred cards" at a grocery store, the list of items is computed and the store can offer coupons that are personalized to customer preferences

frequency marketing

all of the following are duties of the board of directors of corporation EXCEPT

guaranteeing the payment of cach dividends every year

All of the following are duties of the board of directors of a corporation EXCEPT __________.

guaranteeing the payment of cash dividends every year

dina worries about layoffs and downsizing . she is thinking of starting a consulting business primarily because she can

increase her job security

financial sucess

is part of the appeal of becoming an entrepreneur

an organizational function and a set of process for creating communication and delivering vaulue to customers and for managing customer relationships in ways that benefit the organization for its stakeholders

marketing

the era in marketing history characterized by the notion that a good product will self is known as ___ era

production

joe is devoloping the marketing mix for his companys new life of power tools, a brand name, price, and distribution system have been decided. now focusing on the best advertising plan

promotional

dell computer provides inner city schools with free computers and wirless internet access. this is an example of

public relations

promotion that is aimed at the ultimate consumer with the goal of generating demand for the good or service is based on

pulling strategy

devoloping and mainting a long term , cost effective exchange relation with individual customers, suppliers, employees, and other partners for mutual benefit characterizes

relationship marketing

tradionally small business tended to be concentrated in the _____ industry

retailing

A singles business aims its promotions toward singles between the ages of 25 and 40 who reside in a specific county. The business has ________.

selected a target market

the ____ industry represents the greatest percentage of minority- owned business

services

if you are a highly independent indivdiaul used to having your own way, the best business format for you is to being a

sole proprietorship

the board of directors of a corporation is elected by the

stockholders

which of the following is not a consistent with relationship marketing

supporting other business where that support is beneficial to the companys goals

An organization's ________ is the group of potential customers toward whom it directs its marketing efforts.

target market

an organizations _____ is the group of potential customers toward whom it directs its marketing efforts

target market

all the following are contributions of small business EXCEPT

they provide more job security than large corporations.

which if the following statements best describes how entrepreneurs view failure

they view failure as a learing experience

in "guerilla marketing" all guerillas know they have three markets. the largest of those markets and the one that represents the least profits to you is called

universe

business organizations or groups of private individuals who invest in new or growing firms

venture capitalists

an overall idea for how to convert a business idea into a sucess is called

vison