Page 567 - Business Principles and Management

C HAPTER 20 A SSESSMENT

DETERMINE THE BEST ANSWER

13. Businesses that buy products from businesses and sell them to other
businesses are called
a. industrial companies
b. marketers’ retailers
c. wholesalers
d. retailers
14. A ________ producer concentrates on making more kinds of prod-
ucts in greater quantities.
a. production-oriented
b. sales-oriented
c. market-oriented
d. product-oriented

15. The four stages of sales and profit performance through which a
product progresses are called the
a. product categories
b. marketing mix
c. product life cycle
d. product evolutionary cycle

16. In the _______ stage, a brand-new product enters the market and there
is only one brand of the product available for consumers to purchase.
a. introduction
b. growth
c. maturity
d. decline
17. In the _______ stage, there are many competing brands with very
similar features and customers have a hard time identifying differ-
ences among the brands.
a. introduction
b. growth
c. maturity
d. decline
18. Inexpensive items that consumers purchase regularly without a great
deal of thought are called
a. convenience goods
b. consumer goods
c. shopping goods
d. specialty goods

19. Providing money for various marketing activities, such as by obtain-
ing credit when buying and extending credit when selling, is called
a. granting credit
b. setting price
c. financing
d. risk taking

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