Business Essentials Module 4 Review

Which of the following is the most common reason for businesses to search for ways to make their products better and cheaper?

• Service marketing

• E-commerce

• Competition

• Publicity

In the marketing concept, whose point of view matters most?

• Buyer’s

• Planner’s

• Marketer’s

• Seller’s

Which of the following activities is an aspect of marketing a SERVICE?

• Determining how much to charge for a haircut

• Finding out customers’ favorite coffee flavors

• Developing a new, improved cell phone

• Advertising the state of Michigan on television

In an overall sense, where does marketing occur?

• Only on tv

• In stores

• Wherever customers are

• Wherever businesses are

Which term means the process of keeping financial records?

• dividends

• accounting

• liabilities

• assets

Which of the following influences the process of determining price?

• none of these

• worker laziness

• Publicity

• Customers’ perception of value

Which of these terms means debts that a business owes?

• assets

• liabilities

• cash flow

• net income

What provides the basis for all marketing goals and actions?

• planning

• pricing

• shipping

• retailing

These are all the day-to-day activities that a business does to keep going.

• operations

• marketing

• operating expenses

• finance

Complying with environmental laws is part of which operations activity?

• Inventory Control

• Logistics

• Purchasing

• safety and security