UARK MKTG 3433 Exam 1 Questions AND Correct Answers
80/20 Rule - ✔✔a concept
that suggests 80 percent of a firm's sales are obtained from
20 percent of its customers.
attitude - ✔✔a learned predisposition to respond to an object
or class of objects in a consistently favorable or unfavorable
way.
Baby Boomers - ✔✔include the generation of 76 million
children born between 1946 and 1964.
Back Translation - ✔✔the practice where a translated word or
phrase is retranslated into the original language by a different
interpreter to catch errors.
Balance of Trade - ✔✔the difference between the monetary
value of a nation's exports and imports.
Barriers to Entry - ✔✔are business practices or conditions that
make it difficult for new firms to enter
the market.
,Beliefs - ✔✔a consumer's subjective perception of how a
product or brand performs on different attributes based on
personal experience, advertising, and discussions with other
people.
Blended Family - ✔✔a family formed by merging two
previously separated units into a single household.
Brand Community - ✔✔is a specialized group of consumers
with a structured set of relationships involving a particular
brand, fellow customers of that brand, and the product in use.
Brand Loyalty - ✔✔a favorable attitude toward and consistent
purchase of a single brand over time.
Business - ✔✔describes the clear, broad, underlying industry
or market sector of an organization's offering.
Business Marketing - ✔✔involves the marketing of goods and
services to companies, governments, or not-for-profit
organizations for use in the creation of goods and services
that they can produce and market to others.
, Business Plan - ✔✔a road map for the entire organization for
a specified future period of time, such as one year or five
years.
Business Portfolio Analysis - ✔✔a technique that managers
use to quantify performance measures and growth targets to
analyze their firms' strategic business units (SBUs) as though
they were a collection of separate investments.
Buy Classes - ✔✔consist of three types of organizational
buying situations: straight rebuy, new buy, and modified
rebuy.
Buying Center - ✔✔consists of the group of people in an
organization who participate in the buying process and share
common goals, risks, and knowledge important
to a purchase decision
Cause Marketing - ✔✔occurs when the charitable
contributions of a firm are tied directly to the customer
revenues produced through the promotion of one of
its products.
80/20 Rule - ✔✔a concept
that suggests 80 percent of a firm's sales are obtained from
20 percent of its customers.
attitude - ✔✔a learned predisposition to respond to an object
or class of objects in a consistently favorable or unfavorable
way.
Baby Boomers - ✔✔include the generation of 76 million
children born between 1946 and 1964.
Back Translation - ✔✔the practice where a translated word or
phrase is retranslated into the original language by a different
interpreter to catch errors.
Balance of Trade - ✔✔the difference between the monetary
value of a nation's exports and imports.
Barriers to Entry - ✔✔are business practices or conditions that
make it difficult for new firms to enter
the market.
,Beliefs - ✔✔a consumer's subjective perception of how a
product or brand performs on different attributes based on
personal experience, advertising, and discussions with other
people.
Blended Family - ✔✔a family formed by merging two
previously separated units into a single household.
Brand Community - ✔✔is a specialized group of consumers
with a structured set of relationships involving a particular
brand, fellow customers of that brand, and the product in use.
Brand Loyalty - ✔✔a favorable attitude toward and consistent
purchase of a single brand over time.
Business - ✔✔describes the clear, broad, underlying industry
or market sector of an organization's offering.
Business Marketing - ✔✔involves the marketing of goods and
services to companies, governments, or not-for-profit
organizations for use in the creation of goods and services
that they can produce and market to others.
, Business Plan - ✔✔a road map for the entire organization for
a specified future period of time, such as one year or five
years.
Business Portfolio Analysis - ✔✔a technique that managers
use to quantify performance measures and growth targets to
analyze their firms' strategic business units (SBUs) as though
they were a collection of separate investments.
Buy Classes - ✔✔consist of three types of organizational
buying situations: straight rebuy, new buy, and modified
rebuy.
Buying Center - ✔✔consists of the group of people in an
organization who participate in the buying process and share
common goals, risks, and knowledge important
to a purchase decision
Cause Marketing - ✔✔occurs when the charitable
contributions of a firm are tied directly to the customer
revenues produced through the promotion of one of
its products.
