Flashcard in questo mazzo (123)

• What is exclusive distribution?

  A situation where suppliers and distributors have an exclusive agreement allowing only the named distributor to sell a specific product.
  marketing distribution
• What does Electronic Data Interchange (EDI) enable?

  Electronic interchange of business information using a standardized format, allowing companies to send information electronically.
  technology business
• Who are considered trading partners?

  Business entities conducting business electronically.
  business partners
• What does it mean to streamline an organization?

  To make it more efficient and effective by employing faster or simpler working methods.
  efficiency management
• What are slotting allowances?

  Fees charged to manufacturers by supermarket distributors to place their products on shelves, also known as Pay-to-Stay.
  marketing pricing
• What is meant by consumer choice?

  The range of competing products and services available for consumers to choose from.
  marketing consumer
• What is a tariff?

  A tax on imports or exports, or fixing the price of something according to a tariff.
  economics taxation
• What is horizontal conflict in distribution?

  A disagreement among channel members at the same level, such as wholesalers in different regions.
  marketing conflict
• What is vertical conflict?

  A disagreement between two channel members on consecutive levels, like a manufacturer and a wholesaler.
  marketing conflict
• What is a chargeback?

  A reduction in payment to a vendor or supplier, usually due to a complaint or issue.
  business finance
• The process of electronic interchange of business information is known as EDI.
  technology business
• Slotting allowances are also known as Pay-to-Stay.
  marketing pricing
• A tariff is a tax on a specific class of imports or exports.
  economics taxation
• In horizontal conflict, two wholesalers may have a disagreement if one enters the other's region.
  marketing conflict
• A disagreement that occurs between two channel members on different levels is known as vertical conflict.
  marketing conflict
• What is the main purpose of exclusive distribution?

  To sell to as many distributors as possible

  To reduce prices for consumers

  To allow a specific distributor to sell a product exclusively

  To increase product variety
  marketing distribution
• Which of the following describes trading partners?

  Retail customers

  Traditional sales representatives

  Manufacturers only

  Business entities conducting business electronically
  business partners
• What is a demand by a credit-card provider for a retailer?

  It is a request to make good the loss on a fraudulent or disputed transaction.
  finance credit retail
• What is scrambled merchandising?

  When a shop sells goods usually sold by another type of shop to increase profits or attract new customers.
  marketing retail
• What does direct selling mean?

  The marketing and selling of products directly to consumers away from a fixed retail location.
  sales marketing
• What are the 4 P's of Marketing?

  • Product
  • Price
  • Place
  • Promotion
  marketing business
• What is an Executive Summary?

  A short document summarizing a longer report, allowing readers to quickly understand the material.
  business reports
• What is a Project Status Meeting?

  A meeting to discuss how the project is progressing.
  management projects
• What is a Brand Promise?

  Benefits and experiences associate marketing campaigns with a product in consumers' minds.
  marketing branding
• Who are first-line managers?

  They manage employees directly above non-managerial workers and supervise production tasks.
  management leadership
• What roles do first-line managers typically have?

  • Foreman
  • Section head
  • Shift boss
  management business
• What is the first level of Maslow's Hierarchy of Needs?

  Physiological needs, such as food and shelter.
  psychology maslow needs
• What follows physiological needs in Maslow's Hierarchy?

  Safety needs.
  psychology maslow needs
• What is the third level in Maslow's Hierarchy?

  Needs of love and belonging.
  psychology maslow needs
• What are esteem needs in Maslow's theory?

  The need for being respected.
  psychology maslow needs
• What is at the top of Maslow's Hierarchy of Needs?

  Self-actualization (fulfilling one's potential).
  psychology maslow needs
• The hierarchy suggests that basic needs must be met before less basic needs; for example, a starving person will seek food before self-actualization.
  psychology maslow needs
• What is marketing?

  The action or business of promoting and selling products or services.
  business marketing
• What is product literature?

  Business publishing geared toward the selection and use of products.
  business marketing
• What does a promotional plan outline?

  The marketing tools, strategies, and resources for promoting a product or service.
  business marketing
• Who is the internal audience in public relations?

  Individuals or groups within or closely associated with an organization.
  business public_relations
• Corporate philanthropy is related to public-relations advertising activities that aim to support community initiatives and enhance the organization's image.
  business public_relations philanthropy
• What is the purpose of a promotional plan?

  To design products

  To conduct employee evaluations

  To manage inventory

  To promote a product or service
  business marketing
• A primary subset of business publishing specifically geared toward product selection and use is known as product literature.
  business marketing
• Guidelines that set minimums for receiving business amenities are termed entertainment guidelines.
  business marketing guidelines
• What must be satisfied first according to Maslow's Hierarchy?

  Basic needs such as physiological needs.
  psychology maslow needs
• What does Maslow's Hierarchy represent?

  A description of the needs that motivate human behavior.
  psychology maslow theory
• According to Maslow, self-actualization is the ultimate need, representing the fulfillment of one's potential and is situated at the top of the pyramid.
  psychology maslow needs
• What do safety needs include?

  Protection from elements, security, order, law, and stability.
  psychology maslow needs
• In marketing, the process of gathering information about consumer needs and preferences is known as market research.
  business marketing
• What role does corporate philanthropy play in marketing?

  It enhances the organization's image by supporting community initiatives.
  business public_relations philanthropy
• What components are included in product literature?

  • Product datasheets
  • Product operating manuals
  • Purchase terms and conditions
  business marketing
• What is the second level in Maslow's Hierarchy of Needs?

  Safety needs.
  psychology maslow needs
• What is the relationship between basic needs and higher needs in Maslow's Hierarchy?

  Basic needs must be met before addressing higher needs like esteem and self-actualization.
  psychology maslow needs
• In public relations, an internal audience refers to individuals associated with an organization, such as employees or stakeholders.
  business public_relations
• What is corporate sponsorship?

  The support from a corporation for an event, activity, or organization, typically in exchange for advertising.
  marketing sponsorship
• What does lobbying involve?

  The act of attempting to influence the decisions of others.
  politics influence
• What is corporate philanthropy?

  The act of a corporation promoting the welfare of others via charitable donations.
  charity business
• What is a rebate?

  A partial refund to a customer who has paid too much money.
  finance refund
• Define direct marketing.

  A form of advertising that allows businesses to communicate straight to the customer through various techniques.
  marketing advertising
• What is telemarketing?

  The marketing of goods and services over the phone.
  marketing sales
• What is a banner ad?

  A form of online advertising that typically involves embedding an advertisement into a web page.
  advertising online
• What is an interstitial ad?

  A page inserted in the normal flow of content on a website for advertising purposes.
  advertising online
• What does media-rich advertising involve?

  Advertising that includes animations that move across the computer screen.
  advertising media
• What is the purpose of publicity?

  To attract attention to a company or product through media exposure.
  marketing publicity
• What is the role of public relations research?

  To gather insights that can aid in managing a company's public image.
  marketing research
• Define special event management.

  The coordination of events to achieve specific objectives for a company.
  event management
• What is an example of direct marketing technique?

  • Email
  • Text messaging
  • Online display ads
  marketing techniques
• What is puffery?

  Exaggerated or false praise.
  marketing terms
• What is a regulatory agency?

  A public authority responsible for exercising autonomous authority over an area of human activity.
  government regulation
• What does scope refer to in a job context?

  The sum of all individual jobs.
  business employment
• What is meant by job depth?

  The influence of an employee in their work environment, including decision making and accountability.
  employment management
• What is the cash conversion cycle?

  It measures how fast a company can convert cash on hand into more cash.
  finance business
• What is a liquid asset?

  An asset that can be quickly converted into cash with minimal price impact.
  finance investments
• What does profit margin indicate?

  The amount revenue from sales exceeds costs.
  finance business
• What is a dividend?

  A sum of money paid regularly by a company to shareholders from its profits.
  finance investments
• What is sugging?

  Selling a product under the guise of conducting market research.
  marketing ethics
• What is price discrimination?

  Selling the same product at different prices to different buyers.
  marketing pricing
• What is scanner fraud?

  Changing the sticker price of an object but not the computer price, leading to consumers paying more.
  retail fraud
• What does price gouging refer to?

  Increasing prices to an unreasonable level during emergencies.
  ethics pricing
• What is price gouging?

  A seller prices goods much higher than is fair, often after a demand or supply shock.
  economics pricing
• What is an invoice?

  A commercial document that itemizes a transaction including quantity, price, date, and tax info.
  business documents
• What does SWOT analysis identify?

  Internal strengths and weaknesses, as well as external opportunities and threats.
  business strategy
• What is a demographic?

  A particular sector of a population.
  marketing population
• What does geographics refer to?

  A particular sector of the world or geography.
  marketing geography
• What is studied in psychographics?

  Personality, values, opinions, attitudes, and lifestyles.
  marketing psychology
• What are the Six Thinking Hats?

  A creative-thinking technique categorizing different aspects of a problem.
  creativity problem-solving
• What is a tort?

  A wrongful act leading to civil legal liability.
  law liability
• What is competition in business?

  The effort of parties to secure business by offering favorable terms.
  business competition
• What is a bilateral contract?

  An agreement between two parties where each party has obligations.
  law contracts
• What does a reciprocal arrangement between two parties entail?

  Each party promises to perform an act in exchange for the other’s act.
  business contracts
• What is an obligor?

  A person who is bound to another to fulfill a promise.
  business contracts
• What is an obligee?

  A person to whom another is obligated or bound.
  business contracts
• What is an Executed Agreement?

  All parties have agreed to the terms by signing and initialing any changes.
  business contracts
• Define Sole Proprietorship.

  A business that legally does not have separate existence from its owner.
  business ownership
• What taxes do Sole Proprietors pay?

  Income and losses are taxed on the individual's personal income tax return.
  business taxes
• Why are Sole Proprietorships popular?

  They are simplest to set up with little government regulation.
  business ownership
• What is a Bar Code?

  A machine-readable code identifying a product using numbers and parallel lines.
  technology marketing
• What are Price Look-Up Codes (PLU)?

  Identification numbers for products in retailers to aid in check-out and inventory.
  retail marketing
• Define Tying Agreement.

  An agreement to sell one product only if the buyer purchases a different product.
  business contracts
• What does Automation refer to in production?

  The use of largely automatic equipment in manufacturing processes.
  technology production
• What is Gross Domestic Product (GDP)?

  The monetary value of all finished goods and services produced within a country's borders.
  economics gdp
• What is the Product Life Cycle?

  The cycle through which every product goes from introduction to withdrawal or demise.
  marketing product_lifecycle
• What are the stages of the Product Life Cycle?

  • Introduction: Launching a new product with low sales.
  • Growth: Strong sales and profits boost promotion.
  • Maturity: Established product maintaining market share.
  • Decline: Market shrinkage due to saturation or switching.
  marketing product_lifecycle
• The Product Life Cycle stages include: - Introduction: Launching a new product. - Growth: Strong growth in sales and profits. - Maturity: Maintaining market share. - Decline: Market begins to shrink.
  marketing product_lifecycle
• During which stage of the Product Life Cycle does the product experience strong growth in sales and profits?

  Decline

  Growth

  Maturity

  Introduction
  marketing product_lifecycle
• What happens during the Decline stage of the Product Life Cycle?

  The market for the product starts to shrink due to saturation or consumers switching to different products.
  marketing decline
• What is a Certificate of Deposit (CD)?

  A certificate issued by a bank for money deposited for a specified length of time.
  finance investment
• What is Capital Investment?

  Funds invested in a firm for business objectives, also refers to acquiring capital assets like machinery.
  finance investment
• What refers to funds invested in capital assets?

  Stock Market

  Capital Investment

  Certificate of Deposit

  Savings Account
  finance investment
• A Certificate of Deposit (CD) is issued by a bank when money is deposited for a specified length of time.
  finance certificates
• Capital Investment refers to funds invested in a firm to further its business objectives.
  finance investments
• What does a CD represent in banking?

  A financial product that earns interest on the deposited funds.
  finance banking
• What is one effect of the Maturity stage of the Product Life Cycle?

  Introduction to new markets

  Drastic decline

  High growth in sales

  Maintaining market share
  marketing maturity
• How does competition affect the Maturity stage?

  It is typically the most competitive time for products requiring wise marketing investments.
  marketing competition
• What leads to a product reaching the Decline stage?

  Market saturation where all potential customers have purchased the product.
  marketing decline
• What visual can help understand the Product Life Cycle?

  A diagram showing stages from inception, introduction, growth, maturity, and decline.
  marketing visuals
• The Product Life Cycle is illustrated as a square cycle with rounded corners indicating phases such as: - Product inception and development - Market introduction - Market growth - Market maturity - Sales decline.
  marketing visuals
• What is a key feature of the Growth stage in the Product Life Cycle?

  Significant increase in sales and profits allowing for more promotional investments.
  marketing growth
• What should businesses focus on during the Maturity stage?

  Investing wisely in marketing to maintain their established market share.
  marketing maturity
• What is turnover in a business context?

  The amount of money taken by a business in a specific period or the rate at which employees leave the workforce and are replaced.
  business finance
• What do inventory clerks do?

  They keep track of stock that moves in and out of a specified location, commonly referred to as a stockroom.
  business inventory
• What are fixed costs?

  • Costs such as rent
  • Constant whatever the quantity of goods or services produced.
  business costs
• What is A/B testing?

  The process of comparing two variations of a single variable to determine which performs best to improve marketing efforts.
  marketing testing
• What is blogging?

  A core component of inbound marketing that can grow website traffic, build thought leadership, and generate leads.
  marketing content
• What is a Call-to-Action?

  A text link, button, or image that encourages visitors to engage, e.g., 'Subscribe Now' or 'Download the Whitepaper Today.'
  marketing cta
• What is a qualified lead?

  A contact who opted in to receive communication, learned about a product or service, and is interested in more information.
  marketing leads
• What is niche marketing?

  A marketing plan focused on a specific demographical, geographical, or psychographic segment of the market.
  marketing strategy