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Business Fundamentals
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Avg score: 52% • Most missed: “Payments other than wages or salaries - other benefits”
Business Fundamentals
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25 Questions

1. Rewarded for good performance; something the employee likes is praised

2. The marketer must decide whether to keep the product and reduce its costs to compensate for declining sales or to discontinue it

3. Exclusive right to manufacture - sell or use a new invention - prevents someone from stealing and profiting from your invention

4. Compensation other than wages and salaries

5. The activity - set of institutions - and process for creating - communicating - delivering - and enhancing offerings that have value for customers - clients - partners - and society at large

6. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others

7. Top management team of a corporation

8. System that sanctions the private ownership of the factors of production and encourages entrepreneurship by offering profits as an incentive

9. Protects art and literary work - give authors exclusive right to publish - sell and reproduce their work

10. Customer value created when someone takes ownership of a product

11. Changes the form of material so they can be consumed or used to manufacture other products

12. Economy in which individuals control production and allocation decisions through supply and demand

13. Governing body of a corporation that reports to its shareholders and delegates power to run its day-to-day operations while remaining responsible for sustaining its assets

14. Charging a high price for a new product during the introductory stage and lowering the price later

15. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties

16. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy

17. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade

18. By studying consumer buying behavior - conducting market research - and capturing and analyzing consumer data

19. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes

20. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.

21. Online ads that are linked to search engine results or website content

22. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds

23. Portion of a brand that can be expressed orally - including letters - words - or numbers

24. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis

25. People are internally motivated

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