A marketing manager using vals is interested in ____________ segmentation.
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Correct Answer:
Psychographic
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A _____ is comprised of several product lines that can vary in breadth and depth.
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Correct Answer:
Product mix
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Research shows that repeat customers spend ________ percent more than new customers.
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Correct Answer:
67
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Most companies' goals can be classified as either ________ or ________.
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Correct Answer:
Strategic; financial
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Most companies define product ____ in terms of how easy or difficult it is to fix a product.
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Correct Answer:
Serviceability
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Carla owns an upscale hat shop, and she recently moved her shop to the city’s central business district. In contemplating the layout of the shop’s interior, Carla has determined that she would like a layout that encourages browsing. Which layout style should she choose?
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Correct Answer:
Free-flow layout
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A way to arrange a manufacturing business by placing all comparable equipment together in the same area is a ______.
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Correct Answer:
Process layout
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The key word in evaluating a channel of distribution is ______.
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Correct Answer:
Efficiency
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A type of business location that exists to assist startups by providing lower than market rent and shared services and equipment is called a/an ______.
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Correct Answer:
Incubator
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Auto dealerships are often located close together because ______.
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Correct Answer:
It is easier for customers to comparison shop
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The SLU data processing center is located on university property, where it leases the location space for lower-than-market rent. The university also provides office supplies and equipment at a discounted rate. SLU is most likely situated in what type of business location?
Answer
Correct Answer:
Incubator
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For destination-oriented products such as health clubs, convenience stores, or wholesale clubs, what location type would work best?
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Correct Answer:
Stand-alone location
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The number of ______ and ______ passing a site strongly affects its potential retail sales.
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Correct Answer:
Cars; people
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The major advantage of an incubator is ______.
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Correct Answer:
Lower than market rent
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With service businesses that visit the customer such as plumbers, carpet cleaners, and landscapers, location is ______.
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Correct Answer:
Not as critical
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You can do away with distribution intermediaries, but you cannot do away with their ______.
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Correct Answer:
Function
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Incubators can easily put a new businessperson in contact with other local businesses. This is known as ______.
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Correct Answer:
Networking
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Changes that make a property more valuable, such as painting, adding shelves, or new lighting are known as ______.
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Correct Answer:
Leasehold improvements
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Of the options listed, the most important decision that a small business owner makes is the choice of ______.
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Correct Answer:
The location of the business
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The United States is a collection of ______ markets rather than one big market.
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Correct Answer:
Local and regional
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Wholesalers are the Intermediaries who buy products in bulk from producers and resell them to others _____.
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Correct Answer:
Both a and b
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Triple-Net Lease is a lease in which the tenant pays a base monthly rent plus _____ incurred for the building.
Answer
Correct Answer:
All of the above
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_____ is a lease in which the tenant pays a base monthly rent plus real estate taxes, insurance, and any other operating expenses incurred for the building.
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Correct Answer:
Triple-Net Lease
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Intermediaries who sell products to the ultimate consumer are known as?
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Correct Answer:
Retailers
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_____ is a way to arrange a manufacturing business by placing equipment in an assembly line.
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Correct Answer:
Product layout
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_____ is a way to arrange a manufacturing business by placing all comparable equipment together in the same area.
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Correct Answer:
Process layout
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_____ is a lease in which the tenant pays a base monthly rent plus a percentage of gross revenue.
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Correct Answer:
Percentage Lease
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_____ is a lease in which the tenant pays a base monthly rent plus real estate taxes and insurance on the building.
Answer
Correct Answer:
Net-Net Lease
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_____ is a lease in which the tenant pays a base monthly rent plus some or all real estate taxes of the building.
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Correct Answer:
Net Lease
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_____ is a type of retail layout with a predominant aisle running through the store that quickly leads customers to their desired department.
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Correct Answer:
Loop layout
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Examples of leasehold improvements that make a property more valuable?
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Correct Answer:
All of the above
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_____ is a distribution channel in which the products pass through various intermediaries before reaching the consumer.
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Correct Answer:
Indirect channel
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Gross lease is a lease in which the monthly payment made by the tenant _____ and the landlord pays the operating expenses of the building.
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Correct Answer:
Remains constant
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_____ is a type of layout used by retail stores to move customers past merchandise arranged on rows of shelves or fixtures.
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Correct Answer:
Grid layout
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_____ is a type of layout used by small retail stores that encourages customers to wander and browse through the store.
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Correct Answer:
Free-Flow layout
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_____ is a type of layout for a manufacturing business in which the product stays stationary while workers and equipment are brought to it.
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Correct Answer:
Fixed layout
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Fixed layout is a type of layout for a manufacturing business in which the product stays stationary while _____ are brought to it.
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Correct Answer:
Both a and b
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Escalation clause is a lease that varies according to the amount of _____ in the economy.
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Correct Answer:
Inflation
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The use of two or more channels to distribute the different products to the same target market.
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Correct Answer:
False
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Distribution channel is the series of intermediaries a product passes through when going from producer to consumer.
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Correct Answer:
True
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_____ is a distribution channel in which products and services go directly from the producer to the consumer.
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Correct Answer:
Direct channel
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Intermediaries who represent clients who buy or sell specialized goods or seasonal products are known as ?
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Correct Answer:
Brokers
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Anchor stores are small retail stores that attract people to shop at malls.
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Correct Answer:
False
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Intermediaries who bring buyers and sellers together and facilitate exchanges are known as ?
Answer
Correct Answer:
Agents
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