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QUESTION

(TCO 3) A small business is defined as a company that _____. (Points : 5) is newly launched and has fewer than 100 shareholders is dominant in its field and employs fewer than 1,500 employ

(TCO 3) A small business is defined as a company that _____. (Points : 5)

       is newly launched and has fewer than 100 shareholders       is dominant in its field and employs fewer than 1,500 employees       has a revenue of less than $750,000       is independently owned and operated and not dominant in its field       is funded through personal lines of credit and has fewer than 1,000 employees

Question 2.2. (TCO 3) Which of the following is true regarding high-growth ventures? (Points : 5)

       They are usually run by one individual rather than a team.       They refer to businesses such as a self-employed consultant, a corner florist, or a small e-commerce venture.       They are mostly family businesses.       They are built around the personal and financial needs of an individual.       They expand rapidly by obtaining a sizable supply of investment capital.

Question 3.3. (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 _____. (Points : 5)

       downsizing       outsourcing       vertical integration       market penetration       diversification

Question 4.4. (TCO 3) Charles is the purchase agent for a consulting firm. He places orders for office stationeries and consumables once in two weeks. The purchases are made in large quantities and are billed in the firm's name. The items that Charles buys are examples of _____. (Points : 5)

       specialty products       expense items       capital items       shopping products       convenience products

Question 5.5. (TCO 3) The introductory stage will be followed by a _____ stage for a successful product. (Points : 5)

       maturity       research       saturation       growth       infiltration

Question 6.6. (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____. (Points : 5)

       social arbitrators       trend watchers       crowd pullers       social developers       social programmers

Question 7.7. (TCO 4) Consumer purchasing differs from organizational purchasing in that consumer purchasing _____. (Points : 5)

       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 8.8. (TCO 4) _____ involves selling more of your existing products into the markets you already serve. (Points : 5)

       Product development       Market development       Diversification       Market penetration       Benchmarking

Question 9.9. (TCO 4) Selling existing products to new markets is called _____. (Points : 5)

       market development       product development       market segmentation       market penetration       vertical integration

Question 10.10. (TCO 4) Retailers differ from wholesalers in that retailers _____. (Points : 5)

       sell products to small-business owners       sell products to wholesalers, government agencies, and educational institutions       primarily sell products to consumers for personal use       receive bulk shipments from producers       create possession utility

Question 11.11. (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? (Points : 5)

       Retail outlet       Drop shippers       Manufacturers' representatives       System integrators       Specialty stores

Question 12.12. (TCO 4) _____ are full-service merchant wholesalers who set up displays in retail outlets, stock inventory, and perform other services, such as marking prices on merchandise. (Points : 5)

       Rack jobbers       Agents       Brokers       System integrators       Value-added resellers

Question 13.13. (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.(Points : 5)

       Federal Communications Commission       Consumer Product Safety Commission       Federal Trade Commission       Federal Advertising Administration       Federal Regulatory Commission

Question 14.14. (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites. (Points : 5)

       attack ads       advocacy advertising       cooperative advertising       remarketing       search engine marketing

Question 15.15. (TCO 4) Advertising that seeks to create goodwill and to build a desired image for a company, rather than to promote specific products, is termed as _____.(Points : 5)

       product advertising       institutional advertising       comparative advertising       bait and switch advertising       reminder advertising

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