What is business marketing, and what is the key characteristic distinguishing business products from consumer products.
What will be an ideal response?
Business marketing is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. Business products include those that are used to manufacture other products, become part of another product, or aid the normal operations of an organization. The key characteristic distinguishing business products from consumer products is intended use, not physical characteristics. A product that is purchased for personal or family consumption or as a gift is a consumer good. If that same product was bought for use in a business, it is a business product.
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Which of the following would be a Type II subsequent event?
a. Information becomes available that provides evidence about the valuation of an estimate or reserve that had been accrued at year end. b. A sale of inventory below carrying value provides evidence that the net realizable value was less than cost at year end. c. A stock dividend or split that takes place during the subsequent period should be disclosed. In addition, earnings-per-share figures should be adjusted to show the retroactive effect of the stock dividend or split. d. A material change occurs in the value of investment securities after the balance sheet date.
When the common stock account is disclosed on the balance sheet, it is reported at:
A. par or stated value. B. lower of cost or market. C. current market value. D. average issue price.
The black box is most closely associated with:
A. the stimulus-response model. B. empathetic dispersion. C. product adoption. D. the SELL sequence. E. benefit selling.
Which of the following indices of creativity involves the ability to change approaches to a problem?
A) Flexibility B) Fluency C) Originality D) Adaptability