MGT-120 Test 3

E-commerce requires a basic infrastructure somewhere in the channel of distribution to process orders, maintain inventory, ________, and handle customer service.
fill orders
One of the disadvantages of using transit advertising is its:
limited appeal
When it comes to innovation, the small business and entrepreneur:
tend to lead the way in business.
A successful direct mail ad is characterized by:
text written as if it were being spoken.
Small business owners get into trouble when determining their price floor when they:
assume their costs are the same as their competitors’.
The cost of marketing a product is highest in the:
introductory stage.
What types of products are best suited for selling on the Web?
High volume, low margin, and commodity
An important advantage of specialty advertising is its:
versatility
What advertising media attract a large percentage of the advertising dollars nationwide?
Television
Flashing from one television channel to another, especially during commercials, is called:
zapping
Most common mistakes that entrepreneurs make once they finally decide to go on-line are:
All of these
The right price for a product depends on which factors?
All of these
Another word for browse-to-but is:
conversion
An ideal domain name should be:
All of these
Which advertising medium offers the greatest ability to selectively target a specific audience?
direct mail
A reliable cost accounting system is necessary for accurate pricing. The traditional method of product costing, where the costs of direct materials, direct labor, and factory overhead are included, is called ________ costing.
absorption
Geographical pricing includes numerous techniques, such as:
uniform delivered pricing
Shifting patterns in the age, income, education, race, and other characteristics of the population are the subject of ________ and exert a potent force on a company’s marketing plan.
demographics
Radio’s power as an advertising medium comes from:
its nearly universal presence in society.
Which price strategy is mostly used for moving stale, outdated, damaged merchandise?
Markdown pricing
The Pastry Shop normally sells cheese Danishes for 60 cents each. On Mondays and Tuesdays, its slowest days, The Pastry Shop offers cheese Danishes at “4 for $2.00.” This is:
multiple unit pricing
One disadvantage of radio as an advertising medium is:
the need for repetition
Time compression management (TCM) involves:
speeding new products to market
The items purchased most often online are:
All of these
Even in the short run, a small business must set the price of a product at least equal to the ________ costs (per unit), or it must shut down.
variable
In web analytics, CPA is the acronym for
cost per acquisition
The most commonly used method of establishing an advertising budget for a small business is:
a percentage of sales
For some customers, a higher price equals:
All of these
A company’s competitive edge is:
based on customers’ perception of its products and services.
Developing a community refers to:
All of these
What drives my customers’ buying behavior? Are they receptive to new products or are they among the last to accept them? What values are most important to them? These questions are to identify:
psychographic data
The ideal domain name should be:
All of these
Which of the following times would be considered radio “prime time”?
Both 6 a.m. to 10 p.m. and 4 p.m. to 7 p.m.
The majority of customers who stop patronizing a particular store do so because:
an indifferent employee treated them poorly.
Paid listings also are called:
All of these
Most marketing experts contend that the greatest marketing mistake small businesses make is:
failing to identify the target market.
One of the objectives that a guerrilla marketing plan should accomplish is:
Both it should pinpoint the target market and it should determine customer needs, wants and characteristics
When a retailer routinely prices goods at $9.97 and $7.36 rather than $10.00 and $7.50, the retailer is using
odd pricing
The most common channel of distribution for consumer goods is:
manufacturer —-> wholesaler —-> retailer —> consumer.
Businesses faced with rapidly rising raw materials costs should consider the following strategies:
All of these
Each time an ad is displayed is called a(n):
impression
Market research answers what important question for the small business owner?
Who are my customers and what are they looking for?
Companies do a number of things to focus on their customers, including:
fixing customer complaints quickly.
The average conversion rate is.
3.2 percent
Newspapers have a number of disadvantages for the small business, such as:
lack of prominence of the ads.
The most common reasons for leaving a site without purchasing include:
shipping charges were too high.
The most meaningful unique selling proposition:
describes the primary benefit of the product.
Probably the most important consideration a manufacturer has when setting the final price of its new exclusive perfume is:
the image the company wants to create for the scent in the customer’s mind.
Conversion rates range from
1-4 percent
Cost-plus pricing has several disadvantages, including:
it fails to consider the competition sufficiently.
A firm sells small-ticket items to their regular customers on customer charge accounts and then bills the customers each month. This type of credit arrangement is called:
trade credit.
Perhaps the most significant actions on-line companies can take to bolster their customer service efforts are providing:
All of these
One “natural” advantage small businesses have over large business, which can be a significant competitive advantage, is:
relationship marketing
A customer who purchases a television from Ace Appliance Store and pays for it in 36 monthly payments is using:
installment credit
Effective one-to-one marketing involves:
All of these
Which of the following is a disadvantage of magazine ads?
the long closing times
Effective ads are built on:
a unique selling proposition.
A common “me-too” pricing policy by which the small business owner establishes his/her prices by monitoring competitor’s prices and then matching them is called:
follow-the-leader pricing
When using a skimming price strategy, small business owners should remember that:
it is an excellent strategy for discouraging competitors from entering the market.
Television ads are most commonly sold in what time increments?
30 seconds
One of the myths of E-Commerce is that:
Both setting up a business on the Web is easy and setting up a business on the Web is inexpensive
The marketing plan should include certain key objectives, such as:
pinpointing the specific target markets a small business will serve.
Which one of the following is not a basic web analytic?
Time spent on site
Which of the following is an advantage of outdoor ads?
Flexibility
Before your Web site can become the foundation for a successful e-business, you must create it with your ________ in mind.
target audience
For many entrepreneurs, the barrier for launching E-Commerce is:
where and how to start an E-Commerce effort.
Free trial offers, free delivery, lengthy warranties, and money back guarantees are examples of:
non-price competition.
As sales volume increases with the broad acceptance of the new products, the firm can lower its price. This is a characteristics of:
skimming
Most service firms base their prices on:
an hourly basis for services rendered.
Floating spots are common in what type of advertising media?
Radio
Magazines have a number of advantages for the small business owner, including:
high quality ad reproduction.
In E-Commerce, what is the length of time between a customer’s visits to a Web site?
Recency
Companies with strong reputations for quality follow certain guidelines, such as:
establishing long-term relationships with suppliers.
The worst marketing catastrophe to befall any business would be to:
have great advertising and poor quality products.
When a computer manufacturer offers its computer with software pre-installed, a printer, and Internet service, as all part of one price, the manufacturer is using a:
bundling strategy
One advantage of personal selling is:
success is not measured just by sales volume but also by customer satisfaction.
Three objectives of new product pricing are:
get the product accepted, maintain market share as competition grows, and earn a profit.
Absorption costing:
clouds the true relationship of price, volume, and costs.
The Total Quality Management (TQM) concept:
strives to achieve quality not just in the product or service itself, but in every aspect of the business and its relationship with the customer.
The choice of advertising medium is primarily determined by:
the target audience and the message.
Businesses faced with rapidly rising raw materials costs should consider the following strategies:
All of these
Each time an ad is displayed is called a(n):
impression