Chapter Two Quiz

Chapter Two Quiz - Chapter Two 1. The American Red Cross is...

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Chapter Two 1. The American Red Cross is an entity whose goal is to have its funds received from operations exceed its expenses. This entity is an example of a(n) nonprofit organization. offering. for profit cooperative. community action corporation. business firm. The American Red Cross is a nonprofit organization that serves its customers but does not have profit as an organizational goal. Instead, its goals may be operational efficiency, customer satisfaction, and/or excess operating funds (receipts exceed expenses, which are then returned to fund further operations). 2. The acronym “SBU” stands for strategic business usage. stakeholder benefit utility. strategic business unit. service business unit. standard business unit. 3. A unique strength relative to competitors, often based on quality, time, cost, or innovation, is referred to as a sustainable advantage. point of distinction. competitive competency. product differentiation. competitive advantage. 4. The __________ element of the marketing mix includes outlets, channels, coverage, transportation, and stock level. market promotion product price place The place (or distribution) element of the marketing mix includes outlets, channels, coverage, transportation, and stock level. 6. Business firms can pursue several different types of goals including profit, sales, market share, quality, customer satisfaction, and employee welfare. Which of these statements is most accurate? There is little value in selecting market share as a goal if you do not make profit a
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This note was uploaded on 11/09/2011 for the course PSY 1310 taught by Professor Brown during the Spring '07 term at Texas State.

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Chapter Two Quiz - Chapter Two 1. The American Red Cross is...

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