Bus 101 Exam 3 Review questions with verified
answers
_________ is a quality improvement technique that uses control charts
to monitor the variability in processes over a period of time.
Ans✓✓✓Statistical process conrol
_________ is a technique that allows a business to produce to near-
completion and delay completion until the customer specifies the
features he wants in the finished product. Ans✓✓✓Postponement
__________ is a management system for a customer-focused
organization that involves all employees in continual improvement
Ans✓✓✓Total Quality management
____________ is the characteristics of a product or service that bear on
its ability to satisfy stated or implied needs Ans✓✓✓Quality
_____-oriented companies recognize that they cannot effectively meet
the needs of everyone in the total market Ans✓✓✓Market
a ________ market includes only specific customers who would enjoy a
particular product Ans✓✓✓niche
A __________ market is an identified market ________ on which a
company will focus its marketing efforts Ans✓✓✓target;segment
,A brand is a ___________________ concept that is often incorrectly
considered only at a superficial level Ans✓✓✓multidimensional
a buying center within a business is considered to be
a(n)_______________group Ans✓✓✓informal
A channel member remains in the distribution channel as long as:
Ans✓✓✓The channels benefit is equal to or greater than the value the
member delivers
a competitive advantage is something unique that competitors
Ans✓✓✓-cannot do
-can do, but choose not to
A marketing channel is also correctly referred to as a ____________
channel Ans✓✓✓distribution
A planning process designed to assure that all brand contacts recieved by
a customer are relevant to that person and consistent over time is called:
Ans✓✓✓integrated marketing communications
A product __________ for a company is usually described as being deep
or shallow based on the number of different products it contains
Ans✓✓✓Line
, According to economic theory, the ___________ determines what a
company pays for a product Ans✓✓✓marketplace
analyze data Ans✓✓✓determine what the data means
assets that generate positive cash flow _______ are valued_______ by
organizations Ans✓✓✓sooner;higher
Budget Ans✓✓✓demonstrate how the firm plans to allocate its
financial assets in order to achieve its goals and objectives
businesses that spread funds across a broad variety of investment
opportunities in order to increase long run returns, are engaging in:
Ans✓✓✓Diversification of risk
Capital Budget Ans✓✓✓focused on long term assets and high dollar
expenditures
Cash Flow Budget Ans✓✓✓focused on the plan to cover any shortfalls
in the cash accounts or identify times of surplus in those accounts
Ceteris Paribus, individuals expect that relatively safe or certain
investment opportunities are associated with ______________ rates of
return Ans✓✓✓lower
answers
_________ is a quality improvement technique that uses control charts
to monitor the variability in processes over a period of time.
Ans✓✓✓Statistical process conrol
_________ is a technique that allows a business to produce to near-
completion and delay completion until the customer specifies the
features he wants in the finished product. Ans✓✓✓Postponement
__________ is a management system for a customer-focused
organization that involves all employees in continual improvement
Ans✓✓✓Total Quality management
____________ is the characteristics of a product or service that bear on
its ability to satisfy stated or implied needs Ans✓✓✓Quality
_____-oriented companies recognize that they cannot effectively meet
the needs of everyone in the total market Ans✓✓✓Market
a ________ market includes only specific customers who would enjoy a
particular product Ans✓✓✓niche
A __________ market is an identified market ________ on which a
company will focus its marketing efforts Ans✓✓✓target;segment
,A brand is a ___________________ concept that is often incorrectly
considered only at a superficial level Ans✓✓✓multidimensional
a buying center within a business is considered to be
a(n)_______________group Ans✓✓✓informal
A channel member remains in the distribution channel as long as:
Ans✓✓✓The channels benefit is equal to or greater than the value the
member delivers
a competitive advantage is something unique that competitors
Ans✓✓✓-cannot do
-can do, but choose not to
A marketing channel is also correctly referred to as a ____________
channel Ans✓✓✓distribution
A planning process designed to assure that all brand contacts recieved by
a customer are relevant to that person and consistent over time is called:
Ans✓✓✓integrated marketing communications
A product __________ for a company is usually described as being deep
or shallow based on the number of different products it contains
Ans✓✓✓Line
, According to economic theory, the ___________ determines what a
company pays for a product Ans✓✓✓marketplace
analyze data Ans✓✓✓determine what the data means
assets that generate positive cash flow _______ are valued_______ by
organizations Ans✓✓✓sooner;higher
Budget Ans✓✓✓demonstrate how the firm plans to allocate its
financial assets in order to achieve its goals and objectives
businesses that spread funds across a broad variety of investment
opportunities in order to increase long run returns, are engaging in:
Ans✓✓✓Diversification of risk
Capital Budget Ans✓✓✓focused on long term assets and high dollar
expenditures
Cash Flow Budget Ans✓✓✓focused on the plan to cover any shortfalls
in the cash accounts or identify times of surplus in those accounts
Ceteris Paribus, individuals expect that relatively safe or certain
investment opportunities are associated with ______________ rates of
return Ans✓✓✓lower
