Troy BUS 6600 Exam Questions and Correct Answers
(100%COMPLETE ANSWERS) ALREADY GRADED A+
100% satisfaction guaranteed
strike - ANSWER-Nonviolent refusal to continue to work until a problem is resolved.
strikebreakers - ANSWER-workers hired to do the jobs of striking workers until the labor dispute is
resolved
union - ANSWER-A worker association that bargains with employers over wages, benefits, and working
conditions
union security clause - ANSWER-the part of the labor-management agreement that states that
employees who receive union benefits must join the union, or at least pay dues to it
union shop agreements - ANSWER-Contract provisions that require employees to join a union after
completing a probationary period.
yellow dog contract - ANSWER-an agreement some companies forced workers to take that forbade
them from joining a union.
benefit segmentation - ANSWER-dividing the market by determining which benefits of the product to
talk about
brand name - ANSWER-that part of a brand that can be spoken, including letters, words, and numbers
business-to-business market - ANSWER-consists of all the individuals and organizations that want goods
and services to use in producing other goods and services or to sell, rent, or supply goods to others
consumer market - ANSWER-all the individuals and households that buy or acquire goods and services
for personal consumption
,consumer relationship management - ANSWER-The overall process of building and maintaining
profitable customer relationships by delivering superior customer value and satisfaction
environmental scanning - ANSWER-the process of collecting information about forces in the marketing
environment
focus group - ANSWER-A small group of individuals who are led in discussion by a professional
consultant in order to gather opinions on and responses to candidates and issues.
Dempgraphic segmentation - ANSWER-Dividing a market into groups based on the physical
characteristics of a population.
geographic segmentation - ANSWER-dividing a market into different geographical units, such as nations,
states, regions, counties, cities, or even neighborhoods
marketing - ANSWER-the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
marketing concept - ANSWER-A three-part business philosophy: (1) a customer orientation, (2) a service
orientation, and (3) a profit orientation.
marketing mix - ANSWER-Product, Price, Place, Promotion
marketing research - ANSWER-
market segmentation - ANSWER-the analysis of markets to determine opportunities and challenges and
to find the information needed to make good decisions
mass marketing - ANSWER-using a single marketing strategy to reach all customers
niche marketing - ANSWER-the process of finding small but profitable market segments and designing or
finding products for them
,one-to-one marketing - ANSWER-developing a unique mix of goods and services for each individual
customer
primary data - ANSWER-information collected for the specific purpose at hand
promotion - ANSWER-Communication by marketers that informs, persuades, and reminds potential
buyers of a product in order to influence an opinion or elicit a response
psychographic segmentation - ANSWER-dividing a market into different segments based on social class,
lifestyle, or personality characteristics
relationship marketing - ANSWER-a strategy that focuses on keeping and improving relationships with
current customers
secondary data - ANSWER-facts and figures that have already been recorded prior to the project at hand
target marketing - ANSWER-Marketing directed toward those groups (market segments) an organization
decides it can serve profitably.
test marketing - ANSWER-the limited introduction of a product and a marketing program to determine
the reactions of potential customers in a market situation
volume segmentation - ANSWER-dividing the market by usage (volume of use)
brand association - ANSWER-the mental links that consumers make between a brand and its key product
attributes; can involve a logo, slogan, or famous personality
brand awareness - ANSWER-Measures how many consumers in a market are familiar with the brand and
what it stands for
, brand equity - ANSWER-the differential effect that knowing the brand name has on customer response
to the product or its marketing
brand loyalty - ANSWER-consistent preference for one brand over all others
brand manager - ANSWER-the person responsible for a single brand
break-even analysis - ANSWER-a method of determining what sales volume must be reached before
total revenue equals total costs
bundling - ANSWER-grouping two or more products together and pricing them as a unit
commercialization - ANSWER-introducing a new product into the market
competition-based pricing - ANSWER-setting prices based on competitors' strategies, prices, costs, and
market offerings
concept testing - ANSWER-testing new product concepts with a group of target consumers to find out if
the concepts have strong consumer appeal
convenience goods and services - ANSWER-Products that the consumer wants to purchase frequently
and with a minimum of effort.
private label brands - ANSWER-Brands developed and marketed by a retailer and available only from
that retailer
distributed product development - ANSWER-handing off various parts of your innovation process- often
to companies in other countries
everyday low pricing - ANSWER-setting a low list price rather than relying on frequent sales, discounts,
or allowances
(100%COMPLETE ANSWERS) ALREADY GRADED A+
100% satisfaction guaranteed
strike - ANSWER-Nonviolent refusal to continue to work until a problem is resolved.
strikebreakers - ANSWER-workers hired to do the jobs of striking workers until the labor dispute is
resolved
union - ANSWER-A worker association that bargains with employers over wages, benefits, and working
conditions
union security clause - ANSWER-the part of the labor-management agreement that states that
employees who receive union benefits must join the union, or at least pay dues to it
union shop agreements - ANSWER-Contract provisions that require employees to join a union after
completing a probationary period.
yellow dog contract - ANSWER-an agreement some companies forced workers to take that forbade
them from joining a union.
benefit segmentation - ANSWER-dividing the market by determining which benefits of the product to
talk about
brand name - ANSWER-that part of a brand that can be spoken, including letters, words, and numbers
business-to-business market - ANSWER-consists of all the individuals and organizations that want goods
and services to use in producing other goods and services or to sell, rent, or supply goods to others
consumer market - ANSWER-all the individuals and households that buy or acquire goods and services
for personal consumption
,consumer relationship management - ANSWER-The overall process of building and maintaining
profitable customer relationships by delivering superior customer value and satisfaction
environmental scanning - ANSWER-the process of collecting information about forces in the marketing
environment
focus group - ANSWER-A small group of individuals who are led in discussion by a professional
consultant in order to gather opinions on and responses to candidates and issues.
Dempgraphic segmentation - ANSWER-Dividing a market into groups based on the physical
characteristics of a population.
geographic segmentation - ANSWER-dividing a market into different geographical units, such as nations,
states, regions, counties, cities, or even neighborhoods
marketing - ANSWER-the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
marketing concept - ANSWER-A three-part business philosophy: (1) a customer orientation, (2) a service
orientation, and (3) a profit orientation.
marketing mix - ANSWER-Product, Price, Place, Promotion
marketing research - ANSWER-
market segmentation - ANSWER-the analysis of markets to determine opportunities and challenges and
to find the information needed to make good decisions
mass marketing - ANSWER-using a single marketing strategy to reach all customers
niche marketing - ANSWER-the process of finding small but profitable market segments and designing or
finding products for them
,one-to-one marketing - ANSWER-developing a unique mix of goods and services for each individual
customer
primary data - ANSWER-information collected for the specific purpose at hand
promotion - ANSWER-Communication by marketers that informs, persuades, and reminds potential
buyers of a product in order to influence an opinion or elicit a response
psychographic segmentation - ANSWER-dividing a market into different segments based on social class,
lifestyle, or personality characteristics
relationship marketing - ANSWER-a strategy that focuses on keeping and improving relationships with
current customers
secondary data - ANSWER-facts and figures that have already been recorded prior to the project at hand
target marketing - ANSWER-Marketing directed toward those groups (market segments) an organization
decides it can serve profitably.
test marketing - ANSWER-the limited introduction of a product and a marketing program to determine
the reactions of potential customers in a market situation
volume segmentation - ANSWER-dividing the market by usage (volume of use)
brand association - ANSWER-the mental links that consumers make between a brand and its key product
attributes; can involve a logo, slogan, or famous personality
brand awareness - ANSWER-Measures how many consumers in a market are familiar with the brand and
what it stands for
, brand equity - ANSWER-the differential effect that knowing the brand name has on customer response
to the product or its marketing
brand loyalty - ANSWER-consistent preference for one brand over all others
brand manager - ANSWER-the person responsible for a single brand
break-even analysis - ANSWER-a method of determining what sales volume must be reached before
total revenue equals total costs
bundling - ANSWER-grouping two or more products together and pricing them as a unit
commercialization - ANSWER-introducing a new product into the market
competition-based pricing - ANSWER-setting prices based on competitors' strategies, prices, costs, and
market offerings
concept testing - ANSWER-testing new product concepts with a group of target consumers to find out if
the concepts have strong consumer appeal
convenience goods and services - ANSWER-Products that the consumer wants to purchase frequently
and with a minimum of effort.
private label brands - ANSWER-Brands developed and marketed by a retailer and available only from
that retailer
distributed product development - ANSWER-handing off various parts of your innovation process- often
to companies in other countries
everyday low pricing - ANSWER-setting a low list price rather than relying on frequent sales, discounts,
or allowances
