BUAD 110 TEST COMPILATION BUNDLE

What are the 3 underlying principles of marketing? correct answer: Customer value Differentiation —> creating a competitive advantage STP —> segmentation, targeting, and positioning What does it mean in marketing to create and communicate value? correct answer: It's not about prod...

What is a nudge? correct answer: trying to improve peoples decisions by changing the ways options are presented to them What are the 3 guiding principles for how to "nudge for good"? correct answer: transparent, easy to opt out of, improve the persons welfare. What are the 3 guiding princi...

generic goods correct answer: non-branded products that usually sell at a sizable discount compared to national or private-label brands. brand association correct answer: the linking of a brand to other favorable images, like famous product uses, a popular celebrity, or a particular geographic ...

Which of the following marketing strategies can be best employed for attracting tourists? correct answer: Place Marketing _____ is based on a costumer's perception that a product has a better relationship between the cost and the benefits than its competitors. correct answer: Value Peter is...

what is a nudge correct answer: changes in how choices are presented or set up to influence people to take a specific action what are the three guiding principles for how to "nudge for good" correct answer: nudges should be - transparent -never misleading - easily opted out of what are...

business correct answer: an organization or enterprising entity engaged in commercial, industrial, or professional do business' have to be for profit and of a certain size correct answer: businesses can be for profit entities or they can be nonprofit organizations that operate to fulfill a cha...

Communication correct answer: the act of exchanging thoughts, messages, or information Rich Channels correct answer: face-to-face or telephone conversations; best used for messages with emotional content Lean Channels correct answer: e-mails, texts, or memos, which are appropriate for routi...

Listening correct answer: o Is the process of hearing someone speak, processing what you're hearing and demonstrating that you understand the speakers intent Sensing correct answer: o Involves hearing the words and receiving the nonverbal signals such as body language and facial expressions ...

What are 3 fundamental financial statements? correct answer: 1. the income statement 2. the balance sheet 3. the statement of cash flows What does an income statement reflect? correct answer: tells you how much money a company has brought in, how much it has spent, and the difference between ...

Business correct answer: Those organizations that try to create value for the customer Profit correct answer: The difference between revenue and cost/expenditure Not-For-Profit Organizations correct answer: Primary objective is to provide goods and services to society without making a profi...

absolute advantage correct answer: when a country has a monopoly on producing a product or is able to produce it at a cost below that of all other countries advertising correct answer: paid, non personal communication through various media by organizations and individuals who are in some way id...