What is the study of the decision process by which customers come to purchase and consume products?
A) Marketing
B) Segmentation
C) Resource management
D) Consumer behavior
E) Acculturation
Answer: D
Explanation: D) To understand consumer behavior, marketers draw heavily on such fields as psychology and sociology. The result is a focus on four major influences on consumer behavior: (1) psychological, (2) personal, (3) social, and (4) cultural. By identifying which influences are most active in certain circumstances, marketers try to explain consumer choices and predict future buying behavior.
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In the context of the U.S. economy, which of the following statements is true of small businesses?
A. They are less likely to develop revolutionary new ideas. B. They have a wider span of control than large businesses. C. They are often the last to contract when times are tough. D. They often display a refreshing lack of bureaucracy.
While Fun Frames incurs a cost of $12 for a pair of eyeglasses, Highwire, its competitor, manufactures a pair of glasses at $10. Both the companies are able to sell their glasses for a maximum of $30 per pair. Which of the following statements is true in this scenario?
A. Fun Frames is a cost-leader when compared to Highwire. B. Highwire has a higher opportunity cost than Fun Frames. C. Fun Frames has created a greater economic value than Highwire. D. Fun Frames and Highwire have achieved differentiation parity.
One of the strategic benefits of workplace diversity is that it can be viewed as moral and ethical, as well as the "right" thing to do.
Answer the following statement true (T) or false (F)
What is a wireless PAN technology that transmits signals over short distances among cell phones, computers, and other devices?
A. Laptop B. PDA C. Camera D. Bluetooth