Week 4 Quiz BUSN 115
Which of the following is an example of a lifestyle business?
One of the general characteristics of a small business is that it typically sells fewer products _____.
Three factors contributing to the increased number of small businesses are technologies such as e-commerce, growing diversity in entrepreneurship, and _____
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) _____.
Absco computers introduced a low-cost, cloud-based storage service. The company adopted unit-based pricing for the product and many small businesses found the product to be very effective in reducing their storage costs. The sale of the product has increased swiftly in recent months and is at an all-time high. The product is presently in the _____ stage of product lifecycle.
An organization decides to use crowdsourcing in its new product development process. Crowdsourcing will be used during the _____ stage of product development.
Organizational purchasing differs from consumer purchasing in that organizational purchasing _____.
The process of examining an organization's current marketing situation, assessing opportunities and setting objectives, and then developing a marketing strategy to reach those objectives is called _____.
Creating new products for new markets is called _____.
Wholesalers differ from retailers in that wholesalers _____.
One of the valuable services that a wholesaler might perform is _____, in which it receives large shipments from the producer and then sells smaller quantities to retailers.
Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions?
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?
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