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business anh chị

Total questions: 143

Worksheet time: 1hrs 12mins

Name
Class
Date
1.

Which term matches the definition: Specialized function of planning how to obtain employees, oversee their training, evaluate them, and compensate them.

a)

human resources management

b)

job analysis

c)

recruiting

d)

organization

2.

Which term matches the definition: Process by which jobs are studied to determine the tasks and dynamics involved in performing them.

a)

job analysis

b)

job description

c)

job specification

d)

performance appraisal

3.

Which term matches the definition: Statement of the tasks involved in a given job and the conditions under which the holder of the job will work.

a)

job specification

b)

job description

c)

orientation

d)

responsibility

4.

Which term matches the definition: Statement describing the kind of person who would be best for a given job— including the skills, education, and previous experience that the job requires.

a)

job description

b)

job analysis

c)

job specification

d)

recruiting

5.

Which term matches the definition: Process of attracting appropriate applicants for an organization's jobs.

a)

recruiting

b)

recruiters

c)

orientation

d)

gain sharing

6.

Which term matches the definition: Members of the human resources staff who are responsible for obtaining new job candidates.

a)

recruiters

b)

recruiting

c)

organization chart

d)

perks

7.

Which term matches the definition: Summary of education, experience, and personal data compiled by the applicant for a job.

a)

résumé

b)

job description

c)

seniority

d)

bonus

8.

Which term matches the definition: Session or procedure for acclimating a new employee to the organization.

a)

orientation

b)

termination

c)

outplacement

d)

organization structure

9.

Which term matches the definition: Evaluation of an employee's work according to specific criteria.

a)

performance appraisal

b)

compensation

c)

pay for performance

d)

responsibility

10.

Which term matches the definition: Payment to employees for their work.

a)

compensation

b)

wages

c)

salaries

d)

incentives

11.

Which term matches the definition: Cash payment based on a calculation of the number of hours the employee has worked or the number of units the employee has produced.

a)

wages

b)

salaries

c)

bonus

d)

commissions

12.

Which term matches the definition: Weekly, monthly, or yearly cash compensation for work.

a)

salaries

b)

wages

c)

bonus

d)

perks

13.

Which term matches the definition: The idea that a person should be paid the same amount as someone else for doing work that has the same value for their employer, whatever age, sex, or race they are.

a)

comparable worth

b)

profit sharing

c)

employee benefits

d)

employment at will

14.

Which term matches the definition: Cash payments to employees who produce at a desired level or whose unit (often the company as a whole) produces at a desired level.

a)

incentives

b)

bonus

c)

gain sharing

d)

pay for performance

15.

Which term matches the definition: Cash payment in addition to the regular wage or salary, which serves as a reward for achievement.

a)

bonus

b)

commissions

c)

perks

d)

seniority

16.

Which term matches the definition: Payments to employees who achieve a certain percentage of sales made.

a)

commissions

b)

bonus

c)

incentives

d)

wages

17.

Which term matches the definition: System for distributing a portion of the company's profits to employees.

a)

profit sharing

b)

gain sharing

c)

pay for performance

d)

employee stock-ownership plan (ESOP)

18.

Which term matches the definition: Plan for rewarding employees not on the basis of overall profits but in relation to achievement of goals such as cost savings from higher productivity.

a)

gain sharing

b)

profit sharing

c)

incentives

d)

pay for performance

19.

Which term matches the definition: Accepting a lower base pay in exchange for bonuses based on meeting production or other goals.

a)

pay for performance

b)

knowledge/ skill-based pay

c)

wages

d)

compensation

20.

Which term matches the definition: Pay keyed to an employee's acquisition of skills; also called skill-based pay.

a)

knowledge/ skill-based pay

b)

wages

c)

salaries

d)

responsibility

21.

Which term matches the definition: Compensation other than wages, salaries, and incentive programs.

a)

employee benefits

b)

perks

c)

unemployment insurance

d)

pension plans

22.

Which term matches the definition: Special class of employee benefits made available to a company's most valuable employees.

a)

perks

b)

employee benefits

c)

bonus

d)

organization chart

23.

Which term matches the definition: Government-sponsored program for assisting employees who are laid off or, to a lesser extent, who quit their jobs.

a)

unemployment insurance

b)

outplacement

c)

layoffs

d)

termination

24.

Which term matches the definition: Company-sponsored programs for providing retirees with income.

a)

pension plans

b)

employee assistance program (EAP)

c)

mandatory retirement

d)

worker buyout

25.

Which term matches the definition: Program enabling employees to become owners or part owners of a company.

a)

employee stock-ownership plan (ESOP)

b)

profit sharing

c)

worker buyout

d)

gain sharing

26.

Which term matches the definition: Company-sponsored counseling or referral plan for employees with personal problems.

a)

employee assistance program (EAP)

b)

outplacement

c)

orientation

d)

termination

27.

Which term matches the definition: Act of getting rid of an employee through layoffs or firing.

a)

termination

b)

layoffs

c)

employment at will

d)

wrongful discharge/ dismissal

28.

Which term matches the definition: Termination of employees for economic or business reasons.

a)

layoffs

b)

termination

c)

worker buyout

d)

mandatory retirement

29.

Which term matches the definition: Longevity in a position or company, frequently used as a basis for making human resources decisions (compensation, termination, and so on).

a)

seniority

b)

responsibility

c)

organization

d)

division of labor/ work specialization

30.

Which term matches the definition: Job-hunting and other assistance that a company provides to laid-off employees.

a)

outplacement

b)

employee assistance program (EAP)

c)

unemployment insurance

d)

pension plans

31.

Which term matches the definition: Employer's right to keep or terminate employees as it wishes.

a)

employment at will

b)

mandatory retirement

c)

wrongful discharge/ dismissal

d)

organization structure

32.

Which term matches the definition: Firing an employee with inadequate advance notice or explanation.

a)

wrongful discharge/ dismissal

b)

termination

c)

employment at will

d)

layoffs

33.

Which term matches the definition: Required dismissal of an employee who reaches a certain age.

a)

mandatory retirement

b)

pension plans

c)

seniority

d)

worker buyout

34.

Which term matches the definition: A situation in which employees buy shares in a company or part of a company in order to gain control of it.

a)

worker buyout

b)

employee stock-ownership plan (ESOP)

c)

profit sharing

d)

organization

35.

Which term matches the definition: Group of people whose interactions are structured into goal-directed activities.

a)

organization

b)

organization structure

c)

organization chart

d)

vertical organization

36.

Which term matches the definition: Formal patterns designed by managers to define work tasks and individual jobs, to establish reporting relationships, and to coordinate all organizational tasks.

a)

organization structure

b)

organization chart

c)

vertical organization

d)

division of labor/ work specialization

37.

Which term matches the definition: Diagram showing how employees and tasks are grouped and where the lines of communication and authority flow.

a)

organization chart

b)

vertical organization

c)

organization structure

d)

responsibility

38.

Which term matches the definition: Structure linking activities at the top of the organization with those at the middle and lower levels.

a)

vertical organization

b)

organization chart

c)

division of labor/ work specialization

d)

organization

39.

Which term matches the definition: Specialization in or responsibility for some portion of an organization's overall work tasks; also called work specialization.

a)

division of labor/ work specialization

b)

responsibility

c)

organization structure

d)

seniority

40.

Which term matches the definition: Obligation to perform the duties and to achieve the goals and objectives associated with a particular position.

a)

responsibility

b)

seniority

c)

pay for performance

d)

organization

41.

Which term is defined as the necessity to report results to supervisors and justify outcomes that fall below expectations?

a)

accountability

b)

authority

c)

delegation

d)

staff

42.

Which term refers to power granted by the organization to make decisions and take actions to accomplish goals?

a)

authority

b)

chain of command

c)

span of management/control

d)

line organization

43.

Which concept is the assignment of authority and responsibility to lower-level managers and employees?

a)

delegation

b)

staff

c)

line-and-staff organization

d)

accountability

44.

Which term describes the pathway for the flow of authority from one management level to the next?

a)

chain of command

b)

span of management/control

c)

authority

d)

delegation

45.

Which organizational system establishes a clear line of authority flowing from the top down?

a)

line organization

b)

line-and-staff organization

c)

horizontal organization

d)

matrix departmentalization

46.

Which organizational system has a clear chain of command but also includes functional groups of people who provide advice and specialized services?

a)

line-and-staff organization

b)

line organization

c)

departmentalization by teams

d)

project management

47.

Which group consists of functional experts who supplement the line organization by providing advice and specialized services?

a)

staff

b)

task force

c)

self-managing teams

d)

customer divisions

48.

Which concept refers to the number of people under one manager's control; also known as span of control?

a)

span of management/control

b)

chain of command

c)

centralization

d)

delegation

49.

Which organizational structure is characterized by a narrow span of management and many hierarchical levels?

a)

tall structure

b)

flat structure

c)

matrix structure

d)

network organization

50.

Which organizational structure is characterized by a wide span of management and few hierarchical levels?

a)

flat structure

b)

tall structure

c)

line organization

d)

functional organization

51.

Which action involves laying off employees in an effort to become more profitable?

a)

downsizing

b)

centralization

c)

delegation

d)

networking

52.

Which concept describes the concentration of decision-making authority at the top?

a)

centralization

b)

decentralization

c)

authority

d)

chain of command

53.

Which concept involves delegating decision-making authority to employees in lower positions?

a)

decentralization

b)

centralization

c)

delegation

d)

span of management/control

54.

What term describes grouping people within an organization according to function, division, teams, matrix, or network?

a)

departmentalization

b)

corporate culture

c)

networking

d)

information systems

55.

Which approach groups workers according to their similar skills, resource use, and expertise?

a)

departmentalization by function

b)

departmentalization by division

c)

process divisions

d)

customer divisions

56.

Which approach groups departments according to similarities in product, process, customer, or geography?

a)

departmentalization by division

b)

departmentalization by function

c)

horizontal organization

d)

project management

57.

Which divisional structure is based on products?

a)

product divisions

b)

process divisions

c)

customer divisions

d)

geographic divisions

58.

Which divisional structure is based on the major steps of a production process?

a)

process divisions

b)

product divisions

c)

customer divisions

d)

geographic divisions

59.

Which divisional structure focuses on customers or clients?

a)

customer divisions

b)

product divisions

c)

process divisions

d)

geographic divisions

60.

Which divisional structure is based on location?

a)

geographic divisions

b)

product divisions

c)

process divisions

d)

customer divisions

61.

Which approach involves assigning functional employees to teams that handle specific work tasks?

a)

departmentalization by teams

b)

departmentalization by function

c)

project management

d)

task force

62.

Which type of team has members responsible for an entire process or operation?

a)

self-managing teams

b)

task force

c)

project team

d)

staff

63.

Which method permanently assigns employees to both a functional group and a project team, using functional and divisional patterns simultaneously?

a)

departmentalization by matrix

b)

project management

c)

departmentalization by teams

d)

departmentalization by network

64.

Which statement identifies disadvantages of matrix departmentalization? Select all that apply.

a)

Conflict in organizational authority causes uncertainty in reporting relationships.

b)

Greater role clarity reduces ambiguity across teams.

c)

The possibility of disunity of command exists.

d)

Requires the manager to be the most effective and efficient.

e)

Faster reporting lines always eliminate confusion.

65.

Which method assigns employees to a functional group but also temporarily assigns them to a specific project?

a)

project management

b)

departmentalization by matrix

c)

departmentalization by teams

d)

line organization

66.

Which approach electronically connects separate companies that perform selected tasks for a small headquarters organization?

a)

departmentalization by network

b)

horizontal organization

c)

information systems

d)

outsourcing

67.

Which structure coordinates activity by facilitating communication and information exchange across departments?

a)

horizontal organization

b)

line-and-staff organization

c)

tall structure

d)

product divisions

68.

Which term refers to all written and electronic forms of sharing information, processing data, and communicating ideas within an organization?

a)

information systems

b)

grapevine

c)

networking

d)

corporate culture

69.

Which group consists of people from several departments who are temporarily brought together to address a specific issue?

a)

task force

b)

staff

c)

self-managing teams

d)

customer division

70.

Which manager coordinates activities of several functional departments but belongs to none of them?

a)

managerial integrator

b)

line manager

c)

project manager

d)

mentor

71.

Which interactions are not defined by the formal structure but influence how the organization accomplishes its goals?

a)

informal organization

b)

corporate culture

c)

networking

d)

information systems

72.

Which communication network of the informal organization consists of unofficial channels through which information, both accurate and inaccurate, spreads among employees?

a)

grapevine

b)

information systems

c)

chain of command

d)

task force

73.

Which activity seeks to broaden one's effectiveness in an organization or industry by forming relationships with others in the same and related fields?

a)

networking

b)

mentoring

c)

delegation

d)

centralization

74.

Which experienced member of an organization serves as a guide and protector to a lower-level employee?

a)

mentor

b)

managerial integrator

c)

line manager

d)

intrapreneur

75.

Which set of values and norms guides and influences the attitudes and behavior of employees and managers within a company?

a)

corporate culture

b)

informal organization

c)

information systems

d)

authority

76.

Which employees have the entrepreneurial spirit to develop innovative ideas within the organization?

a)

intrapreneurs

b)

staff

c)

mentors

d)

line managers

77.

Combination of intermediaries and channels that a producer uses to get a product to end users. Choose the correct term.

a)

distribution mix

b)

distribution strategy

c)

marketing middlemen

d)

vertical marketing systems

78.

Firm's overall plan for moving products to intermediaries and final customers. Choose the correct term.

a)

distribution strategy

b)

intensive distribution

c)

reverse channels

d)

exclusive distribution

79.

Businesspeople and organizations that channel goods and services from producers to consumers. Choose the correct term.

a)

marketing middlemen

b)

retailers

c)

brokers

d)

industrial distributors

80.

Distribution channels designed to move products from the customer back to the producer. Choose the correct term.

a)

reverse channels

b)

place utility

c)

drop shippers

d)

off-price stores

81.

Approach to distribution that involves placing the product in as many outlets as possible. Choose the correct term.

a)

intensive distribution

b)

selective distribution

c)

exclusive distribution

d)

specialty shops

82.

Approach to distribution that relies on a limited number of outlets. Choose the correct term.

a)

selective distribution

b)

intensive distribution

c)

exclusive distribution

d)

warehouse clubs

83.

Approach to distribution in which intermediaries are given the exclusive right to sell a product within a given market. Choose the correct term.

a)

exclusive distribution

b)

selective distribution

c)

intensive distribution

d)

discount stores

84.

Planned distribution channels in which members coordinate their efforts to optimize distribution activities. Choose the correct term.

a)

vertical marketing systems

b)

distribution strategy

c)

marketing concept

d)

branch office / sales branch

85.

Channel member that is able to influence the activities of the other members of the distribution channel. Choose the correct term.

a)

channel captain

b)

manufacturer's agents

c)

merchant wholesalers

d)

retailers

86.

Firms that sell products to other firms for resale or for organizational use. Choose the correct term.

a)

wholesalers

b)

retailers

c)

brokers

d)

warehouse clubs

87.

Wholesalers that sell to industrial customers, rather than to retailers. Choose the correct term.

a)

industrial distributors

b)

merchant wholesalers

c)

drop shippers

d)

rack jobbers

88.

Firms that sell directly to the public. Choose the correct term.

a)

retailers

b)

wholesalers

c)

off-price stores

d)

specialty shops

89.

Independent wholesalers that take legal title to products. Choose the correct term.

a)

merchant wholesalers

b)

manufacturer's agents

c)

brokers

d)

sales office

90.

Wholesaling intermediaries that provide a wide variety of services to their customers, such as storage, delivery, and marketing support. Choose the correct term.

a)

full-service merchant wholesalers

b)

limited-service merchant wholesalers

c)

industrial distributors

d)

drop shippers

91.

Merchant wholesalers that are responsible for setting up and maintaining displays in a particular store area. Choose the correct term.

a)

rack jobbers

b)

branch office / sales branch

c)

sales office

d)

brokers

92.

Merchant wholesalers that offer fewer services than full-service wholesalers; they often specialize in particular markets, such as agriculture. Choose the correct term.

a)

limited-service merchant wholesalers

b)

full-service merchant wholesalers

c)

drop shippers

d)

industrial distributors

93.

Merchant wholesalers that assume ownership of goods but don't take physical possession; commonly used to market agricultural and mineral products. Choose the correct term.

a)

drop shippers

b)

merchant wholesalers

c)

manufacturer's agents

d)

warehouse clubs

94.

Wholesalers that do not take title to products but that receive a commission for selling products. Choose the correct term.

a)

manufacturer's agents

b)

brokers

c)

retailers

d)

rack jobbers

95.

Agents that specialize in a particular commodity but not usually for an extended period of time. Choose the correct term.

a)

brokers

b)

manufacturer's agents

c)

channel captain

d)

industrial distributors

96.

Producer-owned operation that carries stock and sells it; also called a sales branch. Choose the correct term.

a)

branch office / sales branch

b)

sales office

c)

retailers

d)

warehouse clubs

97.

Producer-owned operation that markets products but doesn't carry any stock. Choose the correct term.

a)

sales office

b)

branch office / sales branch

c)

merchant wholesalers

d)

specialty shops

98.

Policy of carrying merchandise that is ordinarily sold in a different type of outlet. Choose the correct term.

a)

scrambled merchandising

b)

product differentiation

c)

discount stores

d)

wheel of retailing

99.

Retailers that sell a variety of goods below the market price by keeping their overhead low. Choose the correct term.

a)

discount stores

b)

off-price stores

c)

warehouse clubs

d)

specialty shops

100.

Evolutionary process by which stores that feature low prices are gradually upgraded until they forfeit their appeal to price-sensitive shoppers and are replaced by new competitors. Choose the correct term.

a)

wheel of retailing

b)

competitive advantage

c)

marketing concept

d)

place marketing

101.

Retailers that offer bargain prices on quality merchandise by maintaining low overhead and acquiring merchandise at below-wholesale costs. Choose the correct term.

a)

off-price stores

b)

discount stores

c)

warehouse clubs

d)

specialty shops

102.

Low-priced stores that sell memberships to small retailers and consumer members. Choose the correct term.

a)

warehouse clubs

b)

discount stores

c)

specialty shops

d)

retailers

103.

Stores that carry only particular types of goods. Choose the correct term.

a)

specialty shops

b)

discount stores

c)

off-price stores

d)

scrambled merchandising

104.

In physical distribution, goals a company sets for its performance in on-time delivery, cost, convenience, and other factors related to customer satisfaction. Choose the correct term.

a)

customer-service standards

b)

distribution strategy

c)

marketing middlemen

d)

competitive advantage

105.

Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Choose the correct term.

a)

marketing

b)

place marketing

c)

idea marketing

d)

exchange process

106.

Efforts to market neighborhoods, cities, states, regions, and even entire countries. Choose the correct term.

a)

place marketing

b)

idea marketing

c)

product differentiation

d)

warehouse clubs

107.

Marketing of concepts that provide intellectual or spiritual benefits. Choose the correct term.

a)

idea marketing

b)

marketing

c)

competitive advantage

d)

form utility

108.

Difference between a person's actual state and his or her ideal state; provides the basic motivation to make a purchase. Choose the correct term.

a)

need

b)

wants

c)

utility

d)

exchange process

109.

Things that are desirable in light of a person's experiences, culture, and personality. Choose the correct term.

a)

wants

b)

need

c)

competitive advantage

d)

product differentiation

110.

Act of obtaining a desired object from another party by offering something in return. Choose the correct term.

a)

exchange process

b)

marketing

c)

place utility

d)

possession utility

111.

Power of a good or service to satisfy a human need; four types (form, time, place, possession). Choose the correct term.

a)

utility

b)

competitive advantage

c)

marketing concept

d)

distribution mix

112.

Consumer value created when a product's characteristics are made more satisfying. Choose the correct term.

a)

form utility

b)

time utility

c)

place utility

d)

possession utility

113.

Consumer value added by making a product available at a convenient time. Choose the correct term.

a)

time utility

b)

place utility

c)

form utility

d)

possession utility

114.

Consumer value added by making a product available in a convenient location. Choose the correct term.

a)

place utility

b)

time utility

c)

form utility

d)

possession utility

115.

Consumer value created when someone takes ownership of a product. Choose the correct term.

a)

possession utility

b)

exchange process

c)

form utility

d)

competitive advantage

116.

Situations in which demand for products exceeds supply, which may tempt marketers to pay less attention to customer satisfaction. Choose the correct term.

a)

sellers' markets

b)

buyers' markets

c)

marketing concept

d)

discount stores

117.

Situations in which supply exceeds demand and marketers need to pay close attention to customers' needs. Choose the correct term.

a)

buyers' markets

b)

sellers' markets

c)

place marketing

d)

product differentiation

118.

Approach to business management that stresses not only customer needs and wants but also long-term profitability and the integration of marketing with other functional units within the organization. Choose the correct term.

a)

marketing concept

b)

competitive advantage

c)

distribution strategy

d)

channel captain

119.

Quality that makes a product more desirable than similar products offered by the competition. Choose the correct term.

a)

competitive advantage

b)

product differentiation

c)

form utility

d)

wheel of retailing

120.

Features that distinguish one company's product from another. Choose the correct term.

a)

product differentiation

b)

scrambled merchandising

c)

marketing middlemen

d)

specialty shops

121.

From the table of marketing terms and definitions: Focus on fostering long-term customer loyalty. Which term matches this definition?

a)

relationship marketing

b)

market segmentation

c)

psychographics

d)

behavioral segmentation

122.

From the table of marketing terms and definitions: Individuals who buy goods or services for personal use. Which term matches this definition?

a)

consumer market

b)

organizational market

c)

market segments

d)

geodemographics

123.

From the table of marketing terms and definitions: Customers who buy goods or services for resale or for use in conducting their own operations. Which term matches this definition?

a)

organizational market

b)

consumer market

c)

relationship marketing

d)

geographic segmentation

124.

From the table of marketing terms and definitions: Division of a market into subgroups of buyers that are likely to respond in consistent ways. Which term matches this definition?

a)

market segmentation

b)

market segments

c)

behavioral segmentation

d)

psychographics

125.

From the table of marketing terms and definitions: Groups of individuals or organizations within a market that share certain common characteristics. Which term matches this definition?

a)

market segments

b)

market segmentation

c)

organizational market

d)

relationship marketing

126.

From the table of marketing terms and definitions: Categorization of customers according to their geographic location. Which term matches this definition?

a)

geographic segmentation

b)

geodemographics

c)

psychographics

d)

behavioral segmentation

127.

From the table of marketing terms and definitions: Classification of customers on the basis of their psychological makeup; the study and classification of people based on psychological characteristics, lifestyles, values, interests, and personality traits; goes beyond demographic data such as age, gender, or income. Which term matches this definition?

a)

psychographics

b)

geodemographics

c)

behavioral segmentation

d)

market segmentation

128.

From the table of marketing terms and definitions: Method of combining geographic data with demographic data to develop profiles of neighborhood segments. Which term matches this definition?

a)

geodemographics

b)

geographic segmentation

c)

psychographics

d)

consumer market

129.

From the table of marketing terms and definitions: Categorization of customers according to their relationship with products or response to product characteristics; the process of sorting and grouping customers based on the behaviors they exhibit, including the types of products and content they consume. Which term matches this definition?

a)

behavioral segmentation

b)

market segmentation

c)

relationship marketing

d)

market segments

130.

Choose the term that matches the definition: Specific groups of customers to whom a company wants to sell a particular product.

a)

target markets

b)

marketing mix

c)

four Ps

d)

niche

131.

Choose the term that matches the definition: Marketing program that offers a single standard product to all consumers; commonly known as mass marketing.

a)

undifferentiated marketing

b)

concentrated marketing

c)

differentiated marketing

d)

customized marketing

132.

Choose the term that matches the definition: Marketing program aimed at a single market segment.

a)

concentrated marketing

b)

undifferentiated marketing

c)

differentiated marketing

d)

customized marketing

133.

Choose the term that matches the definition: Marketing program aimed at several market segments, each of which receives a unique marketing mix.

a)

differentiated marketing

b)

undifferentiated marketing

c)

concentrated marketing

d)

customized marketing

134.

Choose the term that matches the definition: Marketing program in which each individual customer is treated as a separate segment.

a)

customized marketing

b)

concentrated marketing

c)

differentiated marketing

d)

undifferentiated marketing

135.

Choose the term that matches the definition: Blend of elements satisfying a chosen market.

a)

marketing mix

b)

four Ps

c)

target markets

d)

niche

136.

Choose the term that matches the definition: Marketing elements— product, price, distribution (place), and promotion.

a)

four Ps

b)

marketing mix

c)

concentrated marketing

d)

commodity product

137.

Choose the term that matches the definition: Anxiety following a purchase that prompts buyers to seek reassurance about the purchase; commonly known as buyer's remorse.

a)

cognitive dissonance/buyer's remorse

b)

conflict

c)

resolution

d)

price sensitive

138.

Choose the term that matches the definition: Refers to specialist markets or products which cater for a small number of customers; often a segment of a larger market.

a)

niche

b)

target markets

c)

lifestyle product

d)

turnover

139.

Choose the term that matches the definition: Product that is very similar to other competitor products.

a)

a commodity product

b)

a lifestyle product

c)

customized marketing

d)

profit margin

140.

Choose the term that matches the definition: Product that is opposite to a commodity product, where consumers are mainly influenced by its 'feel good factor'.

a)

a lifestyle product

b)

a commodity product

c)

niche

d)

marketing mix

141.

Choose the term that matches the definition: Total value of a company’s sales calculated by multiplying the number of units sold by the price of each unit.

a)

turnover

b)

profit margin

c)

four Ps

d)

target markets

142.

Choose the term that matches the definition: Refers to customers or products that are highly sensitive to price changes such that a small price increase leads to a large drop in demand.

a)

price sensitive

b)

undifferentiated marketing

c)

turnover

d)

niche

143.

Choose the term that matches the definition: Difference between the cost of producing a unit and the price of selling that unit, expressed as a percentage (e.g., 10%10\% margin).

a)

profit margin

b)

marketing mix

c)

four Ps

d)

commodity product