(TCO 3) A small business is defined as a company that _____.
(TCO 3) Barbara owns a small florist shop that employs a couple of part-time floral designers. She doesn't expect her business to grow much, but it provides her with a comfortable income and she enjoys what she does. Barbara's business would be described as a ____
(TCO 3) Three factors contributing to the increased number of small businesses are technologies such as e-commerce, growing diversity in entrepreneurship, and _____.
(TCO 3) Five college graduates decide to open a laundry service company. They import six commercial washing machines from Italy to
set up a factory. In this case, the commercial washing machines are best referred to as a(n) _____
(TCO 3) Research and development is carried out usually during the _____ stage of product development.
(TCO 3) The maturity stage of product lifecycle is _____
(TCO 4) Organizational purchasing differs from consumer purchasing in that organizational purchasing ____
(TCO 4) _____ involves selling more of your existing products into the markets you already serve
(TCO 4) Selling existing products to new markets is called ____
(TCO 4) _____ refer(s) to intermediaries that sell products to other intermediaries for resale or to organizations for internal use
(TCO 4) One of the valuable services that a wholesaler might perform is _____, in which it receives large shipments from the producer and
then sells smaller quantities to retailers
(TCO 4) Producers rely on a class of intermediaries called value- added resellers (VARs) to assist with which of the following functions?
(TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful
advertising is the _____.
(TCO 4) KM Group, a home products manufacturer, owns a brand of paper towels called EasyWipes. The firm creates a commercial showing how an EasyWipes paper towel absorbs a spill faster than the competitor's paper towel. In this example, the commercial used by KM Group can be classified as __________ advertising
(TCO 4) Advertising that seeks to create goodwill and to build a desired image for a company, rather than to promote specific products, is termed as _____