Question 1

Creative product differentiation can enable a small business to increase market share.

Accepted Answer

A) True 
 B)False

Question 2

A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a

Accepted Answer

A)  mission statement. 
B)  corporate charter. 
C)  business plan. 
D)  corporate statement. 
E)  balance sheet. 
A)  mission statement. 
B)  corporate charter. 
C)  business plan. 
D)  corporate statement. 
E)  balance sheet.

Question 3

What are the three fundamental characteristics against which an organization can be assessed?

Accepted Answer

An efficient and effective operating pla

Question 4

Any organization that produces a good or service can be classified as a business.

Accepted Answer

A) True 
 B)False

Question 5

The goal of business is to earn

Accepted Answer

A)  respect. 
B)  resources. 
C)  a profit. 
D)  responsibility. 
E)  independence. 
A)  respect. 
B)  resources. 
C)  a profit. 
D)  responsibility. 
E)  independence.

Question 6

In order to achieve long-term growth and profitability,businesses are constantly searching for new markets and new opportunities to further grow the scope and focus of their organizations:

Accepted Answer

A)  to pay its bills and reinvest in the future 
B)  because they recognize that the demand for current products and services could disappear 
C)  to ensure the immediate survival of the firm 
D)  in order to achieve long-term growth and profitability 
E)  a) and d) 
A)  to pay its bills and reinvest in the future 
B)  because they recognize that the demand for current products and services could disappear 
C)  to ensure the immediate survival of the firm 
D)  in order to achieve long-term growth and profitability 
E)  a) and d)

Question 7

Price,store surroundings,service,and brand name are all elements that consumers evaluate in a total product offer.

Accepted Answer

A) True 
 B)False

Question 8

What is a business model or system?

Accepted Answer

Combined,the application of assets,labou

Question 9

_______,managers need to understand where the market is going and how their products and services will fit into the market and meet customer needs.________,they need to ensure that the right product reaches the right customer at the right time and at the right place for the right price.

Accepted Answer

A)  Tactically; tactically 
B)  Strategically; strategically 
C)  Strategically; Tactically 
D)  Decisively; tactically 
E)  defensively; tactically 
A)  Tactically; tactically 
B)  Strategically; strategically 
C)  Strategically; Tactically 
D)  Decisively; tactically 
E)  defensively; tactically

Question 10

When consumers calculate the value of a product,they look at the benefits and then subtract the cost.

Accepted Answer

The answer of When consumers calculate the value of a...

Question 11

The competitive environment now empowers managers to make decisions quickly for their front line employees.

Accepted Answer

A) True 
 B)False

Question 12

Marketing managers are aware that products can take on the characteristics of the store in which they are sold.

Accepted Answer

A) True 
 B)False

Question 13

From a marketing management perspective,what is the meaning of a total product offer? What are the important elements in the total product offer of your college or university?

Accepted Answer

A total product offer consists of all th

Question 14

The reputation of the manufacturer and the retail store surroundings are considered part of the value enhancers of a total product offer.

Accepted Answer

A) True 
 B)False

Question 15

__________________ refers to the value-creating skills which an organization's employees bring to the marketplace.

Accepted Answer

A)  Organizational efficiency 
B)  Employee interaction 
C)  Labour supply 
D)  Organizational value 
E)  Stakeholder efficiency 
A)  Organizational efficiency 
B)  Employee interaction 
C)  Labour supply 
D)  Organizational value 
E)  Stakeholder efficiency

Question 16

_________ refers to the money needed by an organization.

Accepted Answer

A)  Assets 
B)  Labour 
C)  Capital 
D)  Managerial acumen 
E)  Structure 
A)  Assets 
B)  Labour 
C)  Capital 
D)  Managerial acumen 
E)  Structure

Question 17

What is a 3C assessment?

Accepted Answer

A 3C assessment (capabilities,competenci

Question 18

A manager is an individual who assumes the risk of starting a business.

Accepted Answer

A) True 
 B)False

Question 19

If a business is to be successful in the long run,it must treat its customers,employees,and community with social

Accepted Answer

A)  meetings. 
B)  responsibility. 
C)  agendas. 
D)  insight. 
E)  interests. 
A)  meetings. 
B)  responsibility. 
C)  agendas. 
D)  insight. 
E)  interests.

Question 20

Successful marketers attempt to think like a consumer and evaluate the value package offered by a good or service.

Accepted Answer

A) True 
 B)False

Creative product differentiation can enable a small business to increase market share.

A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a

What are the three fundamental characteristics against which an organization can be assessed?

Any organization that produces a good or service can be classified as a business.

The goal of business is to earn

In order to achieve long-term growth and profitability,businesses are constantly searching for new markets and new opportunities to further grow the scope and focus of their organizations:

Price,store surroundings,service,and brand name are all elements that consumers evaluate in a total product offer.

What is a business model or system?

_,managers need to understand where the market is going and how their products and services will fit into the market and meet customer needs.__,they need to ensure that the right product reaches the right customer at the right time and at the right place for the right price.

When consumers calculate the value of a product,they look at the benefits and then subtract the cost.

The competitive environment now empowers managers to make decisions quickly for their front line employees.

Marketing managers are aware that products can take on the characteristics of the store in which they are sold.

From a marketing management perspective,what is the meaning of a total product offer? What are the important elements in the total product offer of your college or university?

The reputation of the manufacturer and the retail store surroundings are considered part of the value enhancers of a total product offer.

__________________ refers to the value-creating skills which an organization's employees bring to the marketplace.

_________ refers to the money needed by an organization.

What is a 3C assessment?

A manager is an individual who assumes the risk of starting a business.

If a business is to be successful in the long run,it must treat its customers,employees,and community with social

Successful marketers attempt to think like a consumer and evaluate the value package offered by a good or service.

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Developing a Business Strategy

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Technology and Operations Management

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters

Exam 1: What Is Business

Creative product differentiation can enable a small business to increase market share.

A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a

What are the three fundamental characteristics against which an organization can be assessed?

Any organization that produces a good or service can be classified as a business.

The goal of business is to earn

In order to achieve long-term growth and profitability,businesses are constantly searching for new markets and new opportunities to further grow the scope and focus of their organizations:

Price,store surroundings,service,and brand name are all elements that consumers evaluate in a total product offer.

What is a business model or system?

_______,managers need to understand where the market is going and how their products and services will fit into the market and meet customer needs.________,they need to ensure that the right product reaches the right customer at the right time and at the right place for the right price.

When consumers calculate the value of a product,they look at the benefits and then subtract the cost.

The competitive environment now empowers managers to make decisions quickly for their front line employees.

Marketing managers are aware that products can take on the characteristics of the store in which they are sold.

From a marketing management perspective,what is the meaning of a total product offer? What are the important elements in the total product offer of your college or university?

The reputation of the manufacturer and the retail store surroundings are considered part of the value enhancers of a total product offer.

__________________ refers to the value-creating skills which an organization's employees bring to the marketplace.

_________ refers to the money needed by an organization.

What is a 3C assessment?

A manager is an individual who assumes the risk of starting a business.

If a business is to be successful in the long run,it must treat its customers,employees,and community with social

Successful marketers attempt to think like a consumer and evaluate the value package offered by a good or service.

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Developing a Business Strategy

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Technology and Operations Management

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters

_,managers need to understand where the market is going and how their products and services will fit into the market and meet customer needs.__,they need to ensure that the right product reaches the right customer at the right time and at the right place for the right price.