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BUSN 115 Week 4 Quiz Latest-DeVry

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BUSN 115 Week 4 Quiz Latest-DeVry

BUSN 115 Week 4 Quiz Latest-DeVry

BUSN115

BUSN 115 Week 4 Quiz Latest-DeVry

Question 1. (TCO 3) Which of the following is true about a small business?

  • A small business is one that employs between 500 to 1000 employees.
  • A small business is usually funded by personal lines of credit and not through bank loans and microlenders.
  • A small business is one that is not dominant in its field.
  • A small firm usually curtails the freedom to innovate.
  • A small firm avoids risks that larger firms are willing to take.

Question 2. (TCO 3) Barbara owns a small florist shop that employs a couple of part-time floral designers. She doesn’t expect her business to grow much, but it provides her with a comfortable income and she enjoys what she does. Barbara’s business would be described as a _____.

  • mid-size enterprise
  • retail business
  • lifestyle business
  • high-growth venture
  • service business

Question 3. (TCO 3) TechPoint, a technical writing and business documentation firm, finds it difficult to handle its training requirements. The company forms a one-year contract with Impact Inc., a language training firm, to conduct training and refresher courses for their employees. This is an example of _____.

  • Downsizing
  • Outsourcing
  • vertical integration
  • market penetration
  • diversification

Question 4. (TCO 3) Five college graduates decide to open a laundry service company. They import six commercial washing machines from Italy to set up a factory. In this case, the commercial washing machines are best referred to as a(n) _____.

  • capital item
  • shopping product
  • expense item
  • convenience product
  • specialty product

Question 5. (TCO 3) The introductory stage will be followed by a _____ stage for a successful product.

  • Maturity
  • Research
  • Saturation
  • Growth
  • Infiltration

Question 6. (TCO 3) An organization decides to use crowdsourcing in its new product development process. Crowdsourcing will be used during the _____ stage of product development.

  • business analysis
  • idea generation
  • idea screening
  • test marketing
  • commercialization

Question 7. (TCO 4) Consumer purchasing differs from organizational purchasing in that consumer purchasing _____.

  • is influenced more by subconscious and emotional factors
  • follows a formal buying process
  • has greater complexity in product usage
  • involves closer relationships between buyers and sellers
  • has a greater emphasis on economic payback

Question 8. (TCO 4) _____ refers to the increase in the value of a product with the number of customers who use it.

  • Cognitive dissonance
  • Possession utility
  • Network effect
  • Positioning
  • Form utility

Question 9. (TCO 4) Selling existing products to new markets is called _____.

  • market development
  • product development
  • market segmentation
  • market penetration
  • vertical integration

Question 10. (TCO 4) Wholesalers differ from retailers in that wholesalers _____.

  • sell products to organizational customers
  • are marketing intermediaries
  • primarily sell products to consumers for personal use
  • cannot sell products to consumers for personal use
  • create place utility and time utility

Question 11. (TCO 4) AMS Technologies, a computer hardware reseller, purchases computer components from leading manufacturers and builds fully operational personal computer systems customized for specific consumer requirements, such as nonlinear video editing capabilities. The firm sells its products to various companies and educational institutions. AMS Technologies belongs to which of the following class of intermediaries?

  • Retail outlet
  • Drop shippers
  • Manufacturers’ representatives
  • System integrators
  • Specialty stores

Question 12. (TCO 4) Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions?

  • Transport the goods from the producer to the retail outlets
  • Assist with advertising, in-store displays, and other promotional efforts
  • Provide market information
  • Divide bulk quantities into smaller packages
  • Complete or customize solutions for customers

Question 13. (TCO 4) FunLearning Inc. is an American manufacturer of science kits and build-it toys for children between 3 and 12 years of age. The firm uses organic and eco-friendly policies. It invests a lot of money in advertisements aimed at increasing its brand awareness. The advertisements encourage customers to ask local retailers for FunLearning toys. In this example, FunLearning Inc. uses which of the following promotional strategies?

  • Operations strategy
  • Digital strategy
  • Pull strategy
  • Push strategy
  • Pricing strategy

Question 14. (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites.

  • attack ads
  • advocacy advertising
  • cooperative advertising
  • remarketing
  • search engine marketing

Question 15. (TCO 4) Institutional advertisements that present a company’s point of view on public issues, such as education or healthcare, are known as _____ advertising.

  • Product
  • Comparative
  • Cooperative
  • Advocacy
  • consultative