business test

in terms of an invoice read " 2/10 net 30" this means that

a 2 percent discount may be taken if the invoice is paid within 10 days

a critical factor in the success of any business is

a large advertising budget

a paid form of communication sent out by a business about a product or service is

advertising

the nike "swoosh" Is an example of

brand

physical distribution includes all of the following except

branding

a business may set its prices for product and services using

competition based pricing, cost based pricing, and demand based pricing

in choosing an advertising medium, you should

consider its effectiveness int reaching your target market

the first step in consumer decision process market is

define the problem

to use the marketing concept businesses must do all of the following except

devote half of its profit towards marketing

networking is

establishing informal ties with people who can help you business grow, a way to increase market share, and attending gatherings that give you good opportunities to meet potential customers

a long term goal might be to

expand by adding a second location

product characteristics that will satisfy customer needs are

features

the physical characteristics or capabilities of product and services are called

features

businesses need channels of distribution

for the products and services they sell

channels of distribution include the routes that products and services take

from manufactures to wholesalers, from retailer stores to consumers, and from manufactures to retail stores

marketing goals

help shape your marketing plan

storing products

helps balance supply and demand of products

businesses should always set their prices

high enough to make a profit

a marketing plan should do all of the following except

identify the owners net worth

intermediaries are used in

indirect channels of distribution

publicity is free promotion that

is generated by media coverage, may involve staging an event or bringing in a celebrity, and may be favorable or unfavorable

a product mix

is the different product and services the business sells

a disadvantage of radio advertising is that

it is only audio message

when a company offers different product and services in the same category

it is trying to serve different customer needs

newspaper advertising is good for small businesses because

it targets a united geographic area

the main advantage of direct mail advertising is that

mailing lists for target market are available for purchase

the most cost effective channel option is

manufacture to consumer

the total market for a product must be known in order to determine

market share

price is one of the elements of the

marketing mix

distributing a product or service on the internet

may be a good idea for many businesses

all of the following are price objectives except

minimize sales

short term goals can be stated in terms of

number of customers, level of profits, and level of sales

which of the following pricing techniques is often used in the introductory stage of a product

penetration pricing

creating an image for a product in the costumers mind is called

positioning

to satisfy a specific customer need the business

positions its products in a certain market

your marketing strategy should address

product introduction or innovation, pricing, and market share

which of the following is not a rational buying motive

protection

transit advertising consists of signs on

public transportation

contests coupons, free samples, are examples of

sales promotion

personal selling skills become more important when customers

seek to meet their upper level needs

companies that use the marketing concept will

select a product mix that will most appeal to their target market

you can find a listing of manufacturing companies in the United States in

the Thomas register

the marketing concept is the belief that

the wants and needs of customers are the most important

medium term goals describe what you want your business to be in

two to five years

with cost based pricing, a price is determined by

using the wholesale price of an item

the use of logos or signs to market you product is called

visual marketing

using the phone to market your product is called

visual marketing

an online ad that changes the background of the page being viewed is called

wallpaper ad