ETS Exam Study Questions with Verified Answers the Latest Updated
Version 2025 Edition.
Terms in this set (283)
A framework for identifying and analyzing the internal strengths and
SWOT analysis
weaknesses, as well as the external opportunities and threats
faced by a firm.
Disadvantage of social media for It is largely user controlled.
marketing
Advertising in the new marketing Advertisers are using highly targeted media to reach smaller
communications model customer segments with personalized, interactive messages.
Promotion mix A combination of different marketing tools used to reach consumers.
Involves personally connecting with carefully targeted individual
Direct marketing
consumers to both obtain an immediate response and cultivate
lasting customer relationships.
Elements in the formation of all An offer, acceptance, and bargained-for consideration.
contracts
Partnership liability General partners have unlimited liability.
The principal is ordinarily liable when an agent enters into a contract
Agent's liability in a contract
with a third party.
Judiciary Law example The Supreme Court decision in JAMES v. BOISE No. 15-493. Decided January 25,
2016.
Applies when a defendant places another person in danger due to
Strict liability
possession of a dangerous product, animal, or weapon, without
needing to prove negligence.
Examples of strict liability activities Ultra hazardous activities.
A court will enforce an oral agreement if there is evidence of the
Enforcement of oral agreements
existence of a contract, with the exception of the Statute of
Frauds.
A legal doctrine that requires certain types of contracts to be in
Statute of Frauds
writing to be enforceable.
Court with highest authority over U. S. Supreme Court.
Constitutional questions
, Political and economic landscape Factors considered during a SWOT analysis regarding external influences on a
firm.
Impersonal nature of social media A disadvantage of using social media for marketing.
marketing
Advertisers are spending more money on mass-media marketing
Mass-media marketing techniques
techniques like network television.
Personalized marketing messages Advertisers are using highly targeted media to reach smaller customer
segments.
Written agreement in contracts Not an element in the formation of all contracts.
General partners in partnerships Have unlimited liability.
Liability of the principal The principal is liable when an agent enters into a contract.
Internal Revenue Code section 438 Not an example of Judiciary Law.
Ultra hazardous activities Activities that can result in strict liability.
Evidence of a contract Required for a court to enforce an oral agreement.
U.S. Court of Claims A court that hears monetary claims against the U.S. government.
secondary data Information collected from online databases on the Internet.
upward communication A suggestion box in the break room.
Convenience Product An item that a customer buys with minimal purchasing effort.
BMW's use of brand-related videos posted on video-sharing Web
consumer-generated marketing
sites by its customers.
strategic planning process The step that comes last is Tactics.
An effective tool as a manager that seeks improvements for better
Value Analysis
products or more economical production.
cause-related marketing A firm selling electronics and giving a percentage of sales to charity.
advantage of social media marketing Social media marketing is targeted and personal.
B2C Apollo falls under the B2C online marketing domain.
purchasing agents contracts Buyers are more influenced by emotional appeals rather than economic
appeals.
Economic Appeals Buyers are more influenced by economic appeals rather than emotional
appeals.
Emotional Appeals Buyers are more influenced by emotional appeals rather than economic
appeals.
Makes car parts for engine manufacturers and sells to body shops in
Indy Unique Inc.
the US and new car manufacturers in Europe.
Segmentation Approaches Indy Unique Inc. is taking Geographic and Behavioral segmentation approaches.
Premium Pricing Strategy Likely to be used when products in the industry are highly differentiated.
Likely to be employed when price competition among competitors
Low-Cost Provider Pricing
becomes ruthless in a mature industry.
Version 2025 Edition.
Terms in this set (283)
A framework for identifying and analyzing the internal strengths and
SWOT analysis
weaknesses, as well as the external opportunities and threats
faced by a firm.
Disadvantage of social media for It is largely user controlled.
marketing
Advertising in the new marketing Advertisers are using highly targeted media to reach smaller
communications model customer segments with personalized, interactive messages.
Promotion mix A combination of different marketing tools used to reach consumers.
Involves personally connecting with carefully targeted individual
Direct marketing
consumers to both obtain an immediate response and cultivate
lasting customer relationships.
Elements in the formation of all An offer, acceptance, and bargained-for consideration.
contracts
Partnership liability General partners have unlimited liability.
The principal is ordinarily liable when an agent enters into a contract
Agent's liability in a contract
with a third party.
Judiciary Law example The Supreme Court decision in JAMES v. BOISE No. 15-493. Decided January 25,
2016.
Applies when a defendant places another person in danger due to
Strict liability
possession of a dangerous product, animal, or weapon, without
needing to prove negligence.
Examples of strict liability activities Ultra hazardous activities.
A court will enforce an oral agreement if there is evidence of the
Enforcement of oral agreements
existence of a contract, with the exception of the Statute of
Frauds.
A legal doctrine that requires certain types of contracts to be in
Statute of Frauds
writing to be enforceable.
Court with highest authority over U. S. Supreme Court.
Constitutional questions
, Political and economic landscape Factors considered during a SWOT analysis regarding external influences on a
firm.
Impersonal nature of social media A disadvantage of using social media for marketing.
marketing
Advertisers are spending more money on mass-media marketing
Mass-media marketing techniques
techniques like network television.
Personalized marketing messages Advertisers are using highly targeted media to reach smaller customer
segments.
Written agreement in contracts Not an element in the formation of all contracts.
General partners in partnerships Have unlimited liability.
Liability of the principal The principal is liable when an agent enters into a contract.
Internal Revenue Code section 438 Not an example of Judiciary Law.
Ultra hazardous activities Activities that can result in strict liability.
Evidence of a contract Required for a court to enforce an oral agreement.
U.S. Court of Claims A court that hears monetary claims against the U.S. government.
secondary data Information collected from online databases on the Internet.
upward communication A suggestion box in the break room.
Convenience Product An item that a customer buys with minimal purchasing effort.
BMW's use of brand-related videos posted on video-sharing Web
consumer-generated marketing
sites by its customers.
strategic planning process The step that comes last is Tactics.
An effective tool as a manager that seeks improvements for better
Value Analysis
products or more economical production.
cause-related marketing A firm selling electronics and giving a percentage of sales to charity.
advantage of social media marketing Social media marketing is targeted and personal.
B2C Apollo falls under the B2C online marketing domain.
purchasing agents contracts Buyers are more influenced by emotional appeals rather than economic
appeals.
Economic Appeals Buyers are more influenced by economic appeals rather than emotional
appeals.
Emotional Appeals Buyers are more influenced by emotional appeals rather than economic
appeals.
Makes car parts for engine manufacturers and sells to body shops in
Indy Unique Inc.
the US and new car manufacturers in Europe.
Segmentation Approaches Indy Unique Inc. is taking Geographic and Behavioral segmentation approaches.
Premium Pricing Strategy Likely to be used when products in the industry are highly differentiated.
Likely to be employed when price competition among competitors
Low-Cost Provider Pricing
becomes ruthless in a mature industry.
