Self-reflection for L1 & L2

Goods or services with both tangible and intangible characteristics that provide satisfaction and benefits are referred to as ______

• products

• liabilities

• resources

• supplies

Helping Hand Services is a nonprofit organization that helps people with disabilities find employment and housing. Which statement is likely to be true of this nonprofit organization?

• This firm does not provide goods or services.

• This firm may engage in management activities to help reach its goals.

• This firm does not engage in marketing or finance activities.

• This firm has the fundamental purpose of making a profit.

________ is the primary goal of business.

• Profit

• Service

• Innovation

• CSR

Which of the following is an example of an intangible product?

• a music concert

• perfume

• jewelry

• a movie DVD

Amit hired an attorney to help him draft a purchase and sale agreement for his new home. The home is an example of a product that is a(n) ______

• idea.

• tangible item.

• process.

• intangible good.

All the groups that have an interest in an organization's success and outcomes are known as the organization's

• stakeholders.

• shareholders.

• stockholders.

• owners.

The focus of all marketing activity is to ______

• coordinate employees' actions to achieve the firm's goals.

• transform resources into goods and services.

• satisfy the needs and wants of consumers.

• provide financial resources for the operation of the business.

When a business fails or does not make a profit, ________ have the most to lose in terms of finances.

• consumers

• media agencies

• government bodies

• owners

Generally, when a retailer announces a discount sale on all its products, what happens?

• Consumers will not demand more than usual.

• Consumers will demand more products.

• The manufacturer will stop the production.

• Consumers will demand fewer products than usual.

Management functions consists of Planning, Organizing, ________, and Controlling.

• Leading

• Manufacturing

• Designing

• Constructing