DECA Hospitality 2011

Determine if the following statement is true or false: A business's employees and customers are the key stakeholders who are impacted by unethical business practices. A. True. Executive Managers who engange in unethical and illegal behavior risk giong to jail. False. Employees are affeced the most by unethical practices because they lose their jobs. C. False. Other stakeholders can be affected by unethical business behavior. D. True. Employees and customers have the most time and money invested in the company.

(C). False. Other stakeholders can be affected by unethical business behavior. Many other stakeholders can be affected by unethical business behavior. Although employees and customers are affected by unethical business practices. businesses must fulfill obligations to other stakeholdrs inclucing investors and community at large. For example, investors lost billions of dollars in relation to the Enron scandal in the early 2000s. Thousands of people lost retirement funds due to unethical behavior by Enron leaders. In addition, companies engaging in the contoversial practice of offshoring, cost jobs and tax revenue for the local community.

Which of the following is an essential element in a press kit A. Coupons for journalists B. Compilation of press releases C. Permission to print form D. Copy of CEO's last speech

:B. Compilation of press releases. A compilation of press releases gives an overview of important activities that have recently occurred at the company. This might include new product releases, hiring of key staff member, philanthropic activities in which the business has engaged, etc. A permission to pring form is not needed since th goal of the press kit is to get information published. Probiding coupons and a copy of the CEO's latest speech could be included in the press kit; however, they are not as critical as the press releases.

Which of the following should hospitality and tourism marketers do to overcome a negative customer review on TripAdvisor or other customer-review website: A. Add a Guest Satisfaction Survey on its own website B. Remove a Complaint Handler Survey on TripAdvisor's website C. Publicize the business's desire to identify complaints. D. Require customers to complete feedback surveys after the sale.

A. Add a Guest Satisfaction Survey on its own website. Customers can use these surveys to voice both their positive and negative experiences with the business. Positive experiences can be used on the website to give testimonials to potential customers, while negative experiences can be addressed directly. The business can redirect dissatisfied customers to another website so that their concerns can be addressed in further detail. In this way, dissatisfied customers have a forum for voicing their concerns. The business can use this forum to improve its relationship with dissatisfied customers. TripAdvisor does not allow businesses to limit negative feedback from customers. Customers can be asked to complete feeback surveys but cannot be required to do so. Identifying complaints is not sufficient. Businesses need to resolve cusotmer dissatisfaction.

Which of the following factors is most likely to cause consumer spending to decrease? A. Low interest rates B. High unemployment C. Decreased inflation D. Increased business expansion

B. High unemployement. Consumer spending is one factor that indicates the health of the economy. Spending tends to decrease as unemployment increases because consumers do not have a lot of income to spend. Low inflation, low interest rates, and increased business expansion are factors that indicate that the economy is growing and that consumers are spending.

In what segment of the hospitality and tourism industry is destination marketing? A. Travel and tourism B. Assembly and event management C. Recreation D. Restaurants and managed services

B. Assembly and event management. Destination marketers "sell" locations to clients. In many cases, destination marketers are trying to obtain convention or meeting business for a community. Other segments in assembly and event management include convention and visitors bureaus and event planning. The travel and tourism segment consists of air, cruise ships, online travel services, rail, bus, car, and tourism. Recreation consists of attractions, gaming, theme parks, clubs, and recreational activities. Restaurants and managed services include full-service restaurants; casual dining; dinner house restaurants; and food operations for institutions, government agencies, airlines, and businesses.

The marketing director at the corporate office of a hotel chain asked one of the company's graphic artists to create a pencil rendering of a special event hosted by the hotel. To show texture in the drawing, the graphic artist should use A. shading. B. crosshatching C. highlighting. D. sketching.

B. Crosshatching. By crisscrossing lines, the graphic artist could depict texture. Shading is used to show shadows, while highlighting is used to put light on objects. Sketching is the process of drawing quickly.

What technology should a travel agent use specifically to notify clients of web pages of interest: A. HTML B. Social Bookmarks C. Email D. Search engine optimization

B. Social Bookmarks. Social bookmarks enable businesses to store, organize, search, share, and manage web pages they find of interest. By tagging, or categorizing, websites or web pages, businesses can share information with as many or as few customers as they'd like. Examples of social bookmarking sites include Digg, StumbleUpon, Delicious, Reddit, Technorati, and many others. Although email could be used to give this information to clients, it is not specific to this purpose, HTML, hypertext markup language, is language used in developing websites. Search engine optimization, SEO involves a variety of techniques used to improve the rank of websites in search engines.

The wait staff recommends dessert items to restaurant customers. This is an example of A. trading up. B. upsellig. C. suggestion selling D. overcoming objections

C. Suggestion selling. When wait staff recommends food items, such as desserts, to go with the customer's original purchase, they are using suggestion selling. By suggesting an additonal item, the wait staff are rying to increase the amount of their sales. Closing the sale occurs when the cusomer has made a buying decision. Trading up occurs when the wait staff recommends a more expensive menu item than that requested. Overcoming objections occurs when the wait staff turns a customer's reasons for not buying into selling points with which the customer agrees.

Inventory at the Fondue Inn was $86,150 on April 1 and $66,5500 on April 30. During the month, retail sales were $350,000. What was the Fondue Inn's stock turnover at retail during April? A. 17.86 B..22 C. 4.58 D. .06

C. 4.58 To determine stock turnover at retail, you will first need to determine the average inventory for th etime period. To do this, add the beginning and ending inventory amounts and divide by 2 ($86,150 +$66,550 ÷ 2 = $76,350). You then divide the average inventory into the retail sales for the ime period to obtain the stock turnover at retail ($350,000 ÷ $76,350 = 4.5842). The Fondue Inn sold the value of its entire inventory 4.58 times during April.

Which of the following is a characteristic of effective Internet ad copy: A. Inclusive by addressing the cooy as "we" and "us" B. Detailed so that the copy answers all possible customer questions C. Non-emotional to keep from upsetting the readers D. Bulleted content to facilitate skimming and undrstanding

D. Bulleted content to facilitate skimming and undrstanding. When people read Internet ad copy, they generally skim content rather than reading ads in-depth or looking for detailed copy. The ad copy should be emotional to gain the readers' interest. Rather than talking about "we," the writer should direct the copy to "you".

Which of the following is categorized as a fixed expense in a personal budget: A. Clothing B. Groceries C. Home repairs D. Car payment

D. Car payment. Developing a personal budget helps individuals manage their income and expenses. An important consideration in budgeting involves identifying fixed expenses, which are the expenses (cash outflows) that do not fluctuate or change from month to month. Car payments, insurance, and rent are examples of fixed expenses. Groceries, home repairs, and clothing are variable expenses, or expenses that may fluctuate slightly from month to month.

Over the years, Splash-O-Rama Water Park has worked hard to develop and maintain an image of a fun, and friendly entertainment venue for families. What action can the front-line employees take to maintain this image? A. Print flyers to hand out at the entrance that lists the park's daily activities and shows. B. Arrive an hour after the park opens to ensure that the park is clean and ready for business. C. Develop a public-relations campaign to reinforce the park's commitment to the community. D. Learn where activities are located in the park to answer visitors' questions courteously.

D Learn where activities are located in the park to answer visitors' questions courteously. Businesses work hard to develop and maintain a certain brand or image in the minds of their customers. Employees are touch points that help the business reinforce that image by the ways in which they conduct their work. Front-line employees (e.g., ticket takers, concession workers, ride operators) should greet the customers pleasantly and be able to direct them to various park services. So employees understand what is expected of them, management should communicate and train the employees and familiarize them with the park. Front-line employees may hand out brochures, but they usually do not print them. The public-relations function carries out public-relations activities. Designated employees will arrive at the park before it opens to perform pre-opening duties.

From what part of a database can you obtain all the information about one person? A. A form B. A view C. A report D. record

D. A record. A record is the central entry into a database and it maintains all of one person's information. A view is a window in a database. A form is a way of looking at information in a view. A report is a view that shows data form multiple records on a single page.

A tour operator put together a tour package for baby boomers who are interested in southwestern art. The tour group will visit a variety of locations in the southwest but will operate individually rather than as a guided tour. What factors did the tour operator use to segment the market. A. Personality and life cycle B. Gender and culture C. Geography and gender D. Age and life cycle

D. Age and life cycle. Baby boomers were born between 1946 and 1964. Baby boomers, therefore, represent people of a particular age range that is aging. Many baby boomers are empty nesters, and they have the money and time to travel. Art appeals to males and females; therefore, gender was not used as a basis for segmentation. Although the tour group will experience different cultures, personalities, and geographies, those were not used as the basis for market segmentation.

Best Buy chose to sponsor free evening classes for community members to teach them how to efficiently use a new operating system on PCs. What is the most logical reason for Best Buy's choosing this community outreach activity? A. The activity contributes to the company's mission. B. Best Buy has exclusive distrubution rights to the operating system. C. Best Buy can share its workshop profits with local schools. D. The activity closely relates to products it offers.

D. The activity closely relates to products it offers. Some of Best Buy's employees are computer savvy, so teaching community members about using the new operating system would be a logical choice for a community outreach activity. This helps Best Buy's employees develop relationships with community members that go beyond "making the sale," and will hopefully translate into sales in the long term. Although Best Buy is a large national chain, it would not have exclusive distrubution rights to the operating system. Since the workshop was free, Best Buy was not making any profit on the workshops. There is no way for us to determine whether the activity contributes to the company's mission.

Which of the following best enables marketers to target specific groups of customers so that the marketers can focus their promotional efforts to get the best results: A. Sales promotion B. Advertising C. Publicity D. Direct Marketing

Direct Marketing. Direct marketing can be targeted to those customers who are most likely to buy. Examples of direct marketing include e-mail marketing, telemarketing, mailshots, SMS, and social media. Advertising, publicity, and sales promotion cannot be targeted to the extent of direct marketing.

A local, gourmet restaurant has decided to sell its baked goods through its website. To ensure that as many people as possible are told about the new store, the marketing communications director is appearing on a noon talk show to offer incentives to people placing orders on the website the first day. What two marketing activities had to be coordinated in this situation? A. Channel management and promotion B. Marketing-information management and product/service management. C. Product/service management and promotion D. Channel management and marketing-information management

The answer is A, channel management and promotion. The restaurant is using a new channel, its website, to offer its baked goods to customers. To attract traffic to the website, the marketing communications director used publicity when appearing on the talk show and sales promotion by offering incentives. The website had to function properly to accommodate the sales volume generated by the incentives. Marketing-information management deals with gathering, accessing, synthesizing, evaluating, and disseminating information for use making business decisions. Products/service management involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities. In this scenario, the product mix has not been changed.

From a legal standpoint, hospitality & tourism customers have the right to expect businesses & the industry to take A. Reasonable care. B. no risks. C. insurance out of each customer. D. Joint ventures

The answer is A, reasonable care. When hospitality and tourism businesses act in a way that a reasonable care. If hospitality and tourism businesses can prove that they acted with reasonable care, they are not fined by

David works for a busy travel agency. On Thursday, a client calls David and requests information about a two-week Caribbean cruise. David needs to do some research before he can provide the client with the desired information. Which of the following is the best way for David to respond to the client's inquiry: A. "I'm in the middle of something right now. Call me back in 15 minutes." B. "I'm very busy right now, so I'll get back to you when I have the time" C. "I don't have information about this cruise. I'll ask my supervisor to call you next week" D. "I need to look into this, but I will call you back by the end of the day with an answer."

The answer is D, "I need to look into this, but I will call you back by the end of the day with an answer." Clients expect prompt, courteous service. If David needs to obtain more information, he should advise the client that he will call back with the correct information as soon as possible. David should be able to call the client back himself for routine questions instead of asking his supervisor to make the call. Asking the client to call back or telling the client to expect a call at David's convenience is rude and is providing poor customer service.

Customer relationship management involves building positive, long-term business connections with customers who are A. interested i change. B. easily influenced. C. loyal to many brands D. Profitable for the business.

The answer is D, profitable for the business. Because the marketplace is extremely competitive, many businesses are focusing their efforts on building good, long-term relationships with the customers who have the most potential to buy. These customers are the ones who will generate sales and profits for the businesses. This effort is often referred to as customer relationship management. By viewing the relationship as a partnership, a business has a better chance of keeping the customer for the long-term and keeping them loyal to the business and to its brands. Customers who are easily influenced or interested in change are more likely

The audience for the research report is young professionals. What should you incorporate into the visual presentation that will appeal specifically to that audience? A. Pictures B. Animated backgrounds C. Concise information D. Different backgrounds in each slide

The use of animated backgrounds appeals to young professionals, whereas older professionals would prefer having clear, concise iformation. Pictures and concise information appeal to all audiences. Using different backgoruons on each slide makes the presentation appear "busy".

A. The substitution effect. B. a price ceiling. C.the market-clearing price D. a buyer's market. The answer is A, the substitution effect. A change in relative prices that causes buyers to replace the purchase of one product with another is a phenomenon called the substitution effect. In the example, Joseph decided that he did not want to pay the increased amount for premium gasoline and opted to buy regular gasoline instead because it was less expensive. A price ceiling is a maximum legal price that businesses can charge for certain products. The market-clearing (equilibrium) price is the point at which the quantity of a product that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price. A buyer's market is the best time for consumers to by, which usually occurs when there is a large supply, small demand, and low prices.

When the price of premium gasoline increased to $3.75 a gallon, Joseph bought regular gasoline instead, because it cost $2.97 a gallon. This is an example of

A. Global distribution systems B. Differentiated pricing strategies C. Methods for reaching new target markets D. Customization of services The answer is A, global distribution systems. The internet makes it possible to market hospitality services to any location in the world. The concept of a business's location now far exceeds its physical location. Customers can log into such sits as Orbits, Travelocity, and Expedia to book their travel needs for air, car, bus, train, and lodging. Differentiated pricing strategies are an aspect of pricing considerations. Methods for reaching new target markets pertains to promotional considerations. Customization of services pertains to product considerations.

Which of the following factors has expanded the concept of place in the hospitality and tourism industry:

Over the years, the Mayberry Theme Park has worked to develop its image as a safe place for kids. So, which of the followiong community issues should you propse to an amusement park's public relations director: A. An evening for fifth graders while their parents shop at the mall. B. A block party for the surrounding neighborhood that will be held after the park closes at midnight. C. A workshop to teach English to the community's non-English speaking new residents. D. The activity closely relates to products it offers.

A. An evening for fifth graders while their parents shop at the mall. This topic ties into the image of the park being a safe place for kids. It will appeal to both fifth graders who ask to go to the theme park as well as to their parents who pay for the theme-park visits. A midnight block paty would be too late for children to participate. An ESL workshop and wine-tasting do not relate to the park's image of a safe place for kids.

What activity should occur first when planning a special event? A. Brainstorming B. Scheduling C. Shopping D. Budgeting

A. Brain storming when planning special events, the event planners should brainstorm ideas to identify events that would be of interest to the target audience. Once the idea for the special event is edentifed, the event planners can move forward with budgeting, scheduling, and shopping.

Which of the following activities occurs during the planning phase of the website development process: A. Determining how to take orders B. Writing easy-to-understand copy C. Designing the page layout D. Ensuring compatibility of website with browser

A. Determining how to take orders. During the planning phase of the website development process, the developer is making decisions that will impact the website's design. Deciding whether and how to take orders is one of those initial decisions that needs to occur. Writing copy, designing page layout, and ensuring compatibility of the website with browsers occur during the design phase of the process.

Which of th efollowing is used most often to obtain customer referrals: A. Discounts B. Free product C. Trips D. Job interviews

A. Discounts. Often, offering cusotmers incentives for referrals encourages them to provide the name and contact information of their friends and associates. The incentives offered are generally small so that the salesperson doesn't "go broke" from providing them. Free product and trips would generally fall into the category of being too cosly for the salesperson. Job interviews are not tied to customer referral programs.

Elise smiles brightly and says, "Martin, you are making incredible progress. I am very proud of your efforts - keep up the good work!" What characteristic of coaching is Elise demonstrating? A. Enthusiasm B. Humility C. Empathy D. Patience

A. Enthusiasm. Coaching is the process of helping others to reach their full potential and to overcome the barriers that are keeping them from doing so. Effective coaching involves exhibiting certain qualities and characteristics, including enthusiasm. When coaches show their own excitement and interest in helping them, their proteges are more likely to be motivated to make changes and improvements to reach their goals. Empathy is the ability to put yourself in another person's place. Humility is a lack of pride. Patience is the ability to endure life's aggravations and difficulties calmly. Although these are also important traits for effective coaches to have, Elise is not demonstrating those particular traits in the example.

What is an example of "black hat" search engine optimization (SEO) strategy? A. Filling a web page with irrelevant key words B. Publishing web content to make mney C. Displaying a personal image when accessing password protected sites D. Pretending to be a trustworthy business to gain confidential information.

A. Filling a web page with irrelevant key words. Doing this helps to improve the ranking of the website in search engines; however, customers are not obtaining anything of value. Ultimately, businesses sponsor web sites to make money. Phishing is an illegal activity in which someone pretends to be trustworthy business so that s/he can obtain another person's confidential information. It is most often used through email and instant messaging. To overcome phishing, some businesses are requiring their customers to selet a personal image that they display when they access pasword protected sites.

Janice worked as a chef with an upscale restaurant for several years. She worked unusual and long hours, including most holidays and weekends. Last year, she quit her job and started her own catering business. Now, Janice has the ability to set her own schedule and take on only the events that she wants to cater, so she can focus on other interests. In this situation, the advantage entrepreneurship provides Janice is A. flexibility B. a higher income C. the satisfaction of helping others D. prestige

A. Flexibility. People choose to open their own businesses for a variety of reasons. In Janice's situation, she tired of working the long and unusual hours professional chefs must work. And, because she wants to focus on other interests, catering gives her the flexibility to pursue those interests since she can seslect the events she wants to work. There is not enough information in the example to determine if Janice's entrepreneurial venture provides her with the satisfaction of helping others, a higher income, or the desired prestige.

Who benefits the most when interest rates increase? A. Lenders B. Borrowers C. Retailers D. Manufacturers

A. Lenders. Lenders make money from borrowers by charging interest. When interest rates increase, lenders earn more money. Borrowers (individuals and all types of businessses) benefit when interest rates decrease because it is cheaper for them to borrow money for homes, cars, business expansions, and other expensive goods and services.

Norman overheard Gina tell a coworker that the company's operations manager is going to be fired. Should Norman tell the operations manger about the conversation? A. No. Gina is gossiping about something that may or may not be true. B. No. Because if Norman believes that the gossip isn't true, he should confront Gina. C. Yes. The operations manager needs to start looking for another job. D. Yes. if the operations manager is Norman's boss, Norman should warn him/her about the situation.

A. No. Gina is gossiping about something that may or may not be true. Gossip is rumor or talk that discloses personal information about another person. Gossiping is unethical behavior because the information may be false. When false rumors are spread about a person, the person may be hurt personally and professionally. Employees should avoid gossiping rather than risk spreading false information; therefore, Norman should not say anything to anyone. Gina's personal conversations and the operations manager's employment status do not involve Norman, and are not any of his business.

Does political behavior within a business usually create negative outcomes? A. No. In many situations, political coalitions can influence management to make positive changes. B. No. Most organizations have policies that limit the use of political tactics in the workplace. C. Yes. Employees tend to further their careers by using scapegoating and back stabbing tactics against coworkers. D. Yes. Organizational politics usually lead to the formation of cliques, which reduces efficiency and causes conflict.

A. No. In many situations, political coalitions can influence management to make positive changes. Political relationships involve influencing others to take a certain course of action. Political relationships form at different levels of a business for different reasons. Political coalitions tend to form when employees share similar concerns or ideas about a single issue. The coalition may last for a limited time to accomplish a specific goal. For example, several employees may have a common goal to improve a production process so they can perform their jobs more efficiently. Once the improvements have been made, the coalition would likely dissolve. Employees may engage in scapegoating and backstabbing practices to advance their careers, but this is not normal behavior for most workers. Cliques are groups of people who share similar interests and values. Cliques can form in any type of group or organization. While some cliquish behavior may negatively impact a business it does not always result in inefficiencies or conflict. Conflict or disagreement is unavoidable in business - the way the conflict is handled influences the outcome.

To track environmental changes impacting hospitality and tourism marketing, a destination marketer should use A. push technology B. model building. C. customer discovery. D. market-basket analysis

A. Push technology. Marketers can keep up with environmental changes by scanning information that is automatically delivered to their computer by push technology. This helps marketers identify trends in their early stages of development. LexisNexis is an example of a company that scans information, finds relevant information, and forwards it to subscribers so that they can review and interpret the information at their convenience. Model building involves identifying relationships between variables. Customer discovery is a data-mining applicaiton that enables researchers to determine who will make a valuable customer. Market-Basket analysis is another data-mining technique used to identify relationships between variables. Customer discovery is a data-mining application that enables researchers to determine who will make a valuable customer. Market-basket analysis is another data-mining technique used to identify relationships between product purchases and retail shopping information.

Paul is a 45-year-old manager of a large company who makes offensive, gender-related comments to Elizabeth, a 28 -year old buyer, who has been with the company for six months. Paul's behavior violates Elizabeth's workplace rights because he is engaging in A. Sexual harassment B. cultural supremacy. C. age discrimination D. ethnocentrism.

A. Sexual harassment. Sexual harassment is any unwelcomed sexual remarks, advances, conduct, or requests. Employees have certain rights in the workplace, including the right to not be sexually harassed by other employees and managers. The example is not age discrimination, cultural supremacy, or ethnocentrism.

The marketing director of the Columbus Zoo and Aquarium selected the Halloween theme of "Boo at the Zoo" for this year's special event. What display techniques would be the best to use in the zoo's gift shop to support that theme? A. Showcase stuffed animals surrounding a paper mache witch on a broom stick B. Place photos of the zoo animals at varying heights througout the gift shop. C. Turn the gift shop into a hountedhouse with scary noises created by zoo animals. D. Suspend the wod "BOO" from the ceiling throughout the gift shop.

A. Showcase stuffed animals surrounding a paper mache witch on a broom stick. Good displays feature the product that is for sale. Using the papier mache witch reinforces the "Boo at the Zoo" theme. The other alternatives do not feature products. Placing photos of the zoo animals at varing heights throughout the gift shop fails to tie the decorations into the special theme.

Fiona made a $500 donation to a local homeless shelter last year. When she prepares her personal income tax form, she can claim the donation as part of her A. tax deductions B. public property C. living expenses D. discretionary income

A. Tax deductions. Tax deductions are expenses that can be subracted from gross income. For example, charitable donations can be claimed as tax deductions on an individual's personal tax return. The tax filer may need to provide a receipt for donations that exceed a certain amount of money. Other examples of tax deductible expenses include college tuiton, home-mortgage interest, and child care. Charitable donations are not claimed on tax returns as public property, living exenses or discretinary income.

It is appropriate for an employee to report his/her employer's noncompliance with health and safety regulations when A. the employer does not take steps to correct the issue. B. the housekeeping staff disposes the company's hazardous materials. C. a coworker blocks the fire escape route with boxes of old files. D. a vendor does not have a ventilation system that meets code.

A. The employer does ot take steps to correct the issue. Businesses must follow certain health and safety regulations to ensure a safe working environment for employees. When employers do not follow regulations, it is important to take actiion to correct the situation. In many situations, the issue can be resolved easily. For exmple,l an employee might notice that boxes are blocking an exit and tell his/her supervisor about the infraction. Then, the supervisor can take steps to ensure the boxes are moved to an appropriate location. When the employeer does not take steps to correct the isssue, employees should report the infraction to th eappropriate government agency. There is not enough information provided to determine if housekeeping personnel are violationg the regulations that govern the way businesses must dispose of hazardous-materials. The vendor is not the employee's employer.

Which of the following is a security consideration for people employed in the hospitality and tourism industry: A. Unauthorized individuals found on the scene B. Patron choking on food C. Spilled water on a marble floor D. Patron calling back to determine whether an item is in lost and found.

A. Unauthorized individuals found on the scene. The presence of unauthorized people is a threat to the security of patrons, employees, and to the hospitality and tourism business. Individuals responsible for security will need to quickly determine the reason that the unauthorized people are present. Spilled water and a choking patron are safety threats. A phone call about an item in lost and found is not a safety or security issue.

What technique should be used when evaluating multiple vendors' canned goods to ensure that the evaluators provide unbiased reviews? A. Can-cutting B. Blind Testing C. Random access D. Sampling .

B. Blind testing. To evaluate multiple vendors' canned goods, restaurants can obtain input from cross-functional teams of employees as well as guests. To avoid receiving biased input, use of blind testing is recommended. With this technique, the food items are removed from their cans so that evaluators do not know on which brand they are providing feedback. Can-cutting is an evaluation procedure in which canned goods are opened and their contents compared. This does not ensure unbiased feedback, however. Random access and sampling are research terms and do not apply to product evaluation

With the upswing in the economy, a major discount hotel chain brainstormed ideas and interviewed a variety of people to generate options for new products. A team determined that the best idea was to open a chain of upscale hotels. The marketing department developed strategies to introduce the new hotel chain. The corporate office created a prototype of the new hotel, opened it to a test market of guests, and decided when, where, how, and to whom to market the hotel. Unfortunately, the new hotel chain failed. What aspects of the new product-development process did the hotel chain fail to do? A. Test marketing and commercialization B. Concept testing and business analysis C. Concept testing andcommercialization D. Test marketing and business analysis

B. Concept testing and business analysis. The hotel chain failed to test the concept of the upscale hotel chain with its target consumers. If they had completed this phase in the new-product development process, the coporate office might have determined that the size of the target market was inadequate, the timing of the concept was inappropriate, etc. In any of these cases, the hotel chain could have saved time and money by deciding not to move forward with the idea. Another phase that the coporate office failed to complete was business analysis: projection of sales, costs, and profit. If this phase had been completed, the coporate office could have determined that sales would be insufficient, costs would be too high, and/or profit inadequate to support the new venture. The company actually built a hotel property to conduct its test market. It also commercialized its product idea by deciding when, where, how and to whom to market the hotel.

Trends indicate that a large segment of the population is between 60-and 70-years-old. A hospitality/tourism business can act on this trend by A. selling international vacation packages to recent college graduates. B. Developing tour products specifically designed to appeal to retirees. C. offering discounted hotel rates for guests who have children under the age of five. D. implementing a loyalty program for corporate business accounts.

B. Developing tour products specifically designed to appeal to retirees. Demographics are the physical and social characteristics (e.g., age, gender, education) of a population or market segment. Businesses consider demographic trends because changes in the population have an effect on the existing and potential products they market. Because trends indicate that a large segment of the population is aging and reaching retirement, hospitality/tourism businesses are developing products to attract retirees who are no longer in the workforce and have more time to travel. Tour products designed for retirees would not likely appeal to recent college graduates, families with young children, or business travelers.

Which of the following is essential to record at the time money is taken from petty cash: A. Account to which transaction should be charged B. General purpose of the transaction C. Person or business name that will be paid the money D. Name of person who witnessed the cash withdrawal

B. General purpose of the transaction. Petty cash is used for small purchases/payments such as parking meter charges, flowers, COD charges, stamps, etc. When money is removed from petty cash, the date, amount of the transaction, and the general purpose of the transaction should be recorded. The account to which the transaction will be charged can be done later when all petty cash charges to the account can be totaled and one entry made. It's not necessary to record the name of the person or business that will be paid the money. Many businesses require the signature of the person taking the money from petty cash but not the name of a witness.

Which of the following is a question that investors should ask prospective financial planners: A. How many references do I need to provide? B. How are your fees structured? C. What is your income? D. Where did you attend school?

B. How are your fees structured? Because financial planners are compensated in different ways, it is important to consider the fee structure when selecting a financial-services provider. Some financial planners charge a flat fee, while others base their fees on the number and size of transactions. Some financial planners charge for research and consulting time. Therefore, it is important to ask financial planners about their fee structures, so investors can determine if they can afford the fees. A financial planner may provide references for a potential client, but the potential client does not generally need to provide the financial planner with references. It is inapproprate to ask the financial planner about his/her personal income. Where the financial planner attended school is irrelevant.

Which of the following is a service often offered by the travel and tourism sector (e.g., air, cruise, car, tourism, online services, rail, and coach): A. Car repair B. Insurance C. Investment advice D. medical checkups

B. Insurance. Many travel and tourism businesses offer insurance to protect customers from a variety of risks. Examples include insurance for cancelled, interrupted, or delayed trips; medical expenses; travel accident protection; lost/stolen luggage; etc. Car repair, investment advice, and medical checkups are outside the realm of frequently offered hospitality and tourism services.

What should you do to write effective direct marketing copy? A. Send readers to the company's Facebook page to obtain the order form B. Introduce the call to action early in the material C. Tell readers how our product is like those of your competitors D. Make incredible claims to hook readers into finishing the material

B. Introduce the call to action early in the material. When readers are skimming through direct marketing materials, they often stop reading before getting to the end of the material. Therefore, writers shouldn't wait until the end of the material to mention the call to action. Naturally, it should be repeated and could be included in the P.S. of the material. Writers want to set their products off from those of the competitors so that readers clearly undrstand what makes their products the best buy. Writers want to make the call to action as simple as possible for readers rather than sending them to another location to obtain an order form. Incredible claims can damage the company's image. Claims need to be credible.

A company's computer network allows many users to access the same programs on different computer units throughout the company. What type of computer operating system is the company using? A. Multithreading B. Multiprocessing C. Augmented D. Hosted

B. Multiprocessing. The computer's operating system consists of the components needed to run all of the computer applications and programs. An operating system that allows several central processing units (computers) to access a single program has multiprocessing capabilities. Multithreading capabilities allow different components of one computer program to run at the same time. Augmented and hosted are not types of operating systems.

An important aspect of upholding ethical accouting standards involves the abiility to be A. resourceful. B. objective C. intolerant D. unconventional

B. Objective. Accountants prepare the accounting information that businesses use to make financial decisions. Therefore, it is important for accountants to uphold the ethical standards of their profession by providing accurate, objective (unbiased) financial information. A person who uses unique processes or creativity to achieve a goal is being resourceful. Accountants need to follow the GAAP to perform their jobs rather than use unique processes. An intolerant person is prejudiced. An unconventional person is often viewed as unusual or eccentric.

To celebrate their 10th wedding anniversary in February, a husband and wife are planning a trip to a tropical island so that they can relax and get away from the hassles of everyday life. What motives are they satisfying? A. Self-actualization B. Physiological C. Self-esteem D. Safety and security

B. Physiological. When people travel for the purpose of relaxation, they are satisfying their physiological needs. These are basic needs that people have, such as the need for food, water, and sleep. With self-actualization needs, people would travel to develop their full potential. Self-esteem needs are met when people travel for self-respect and the respect of other people. Safety and security needs are being met when people travel for personal security and for a source of income.

What should you talk about first when presenting research findings orally? A. Overview of others' work on the research topic B. Problem / Issue being addressed C. Description of participants and how they were selected D. Graph depicting main findings.

B. Problem / Issue being addressed. There is a logical sequence for presenting research orally. The presenter needs to first discuss why the study was conducted. This involves explaining the problem/issue. The researcher then moves on to explain what was done, what was found out, and what is recommended.

When people think of Disney World, they know that it's the happiest place on earth; a place where dreams really do come true. The place that Disney World's image occupies in people's minds is known as its A. trade character B product positioning C. brand identity D. touch points

B. Product position. Disney has used its marketing skills to position the theme park as the happiest place on earth and a place where dreams really do come true. Marketing activities, employee behavior, and the entire Disney World environment are designed to support and reinforce that image in people's minds. Touch points are the opportunities that Disney has to interact with its customers. Brand identity is the name, symbols, characters, etck., that are used to identify Disney and its products. A trade character is a person, animal, or animated characer used in advertising and is associated with a product or company.

Rechargeable batteries are an example of what type of innovation? A. Paradigm B. Product C. Convertible D. categorical

B. Product. Product innovation takes place when a company creates a new product or redesigns an existing product. Paradigm innovation takes place when the entire perception of a product, company, or industry takes place. Convertible and categorical are not types of innovation.

Which of these lodging services would most likely be automated using software: A. Concierge B. Registration C. Room set-up D. Sales forecasting .

B. Registration Software best handles routine tasks such as registration. Registration can be handled online, over the phone, or in person. All registrations go into a software program. This makes it easy to analyze sales and marketing data. Concierge and room set-up services are performed by humans. Sales forecasting is not a service

Which of the following is an advantage associated with RSS feeds: A. They optimize search engine standings B. They lack spam. C. They replace the need for web pages. D. They enable customization of web content.

B. They lack spam. RSS (Really Simple Syndication) enables businesses to syndicate content from its website, rather than customizing it. Another advantage to RSS feeds is that they are easy to sign up for and to unsubscribe from. They do not replace the need for web pages since that is what is being syndicated. They do not optimize search engine standings.

Why should a marketing specialist at a convention and visitors bureau want to track its promotional activities? A. To determine the best ticket price to offer B. To determine their impact on sales C. To determine its target Market D. To determine the best time for shows to begin

B. To determine their impact on sales. The marketing specialist needs to establish a baseline number on whatever s/he wants to measure. And then, s/he needs to determine increases and decreases in that baseline number when promotional activities appear. Ticket prices, target market, and show times would not be impacted by promtional activities.

When transferring phone calls, why should you give the extension number of the person to whom the call is being forwarded? A. To minimize the number of incoming calls B. To make it more convenient for the caller to contact the person in the future C. To let the caller know that it is acceptable to contact the person at any time D. To keep the caller from hanging up

B. To make it more convenient for the caller to contact the person in the future. This helps to save the caller's time and makes calling more efficient. Also, if the caller loses her/his connection, it helps in calling back. Giving a caller a person's extension wil not affect the number of incoming calls. Callers do not hang up when they are given a person's extension number nor should they think that calling at any time is acceptable.

Car rental agents usually suggest that customers rent a larger car than the one requested online. This technique is known as A. substitute selling B. upselling C. suggestion selling. D. outsourcing.

B. upselling. When car rental agents suggest that customers rent more expnesive vehicles than the ones they signed up for online, the agents are using a sales technique known as upselling. This helps to increase the amount of the sale. Substitute selling occurs when the requested item is not in stock or does not meet the customer's needs. Suggestion selling involves recommending an additional item to accompany the original purchase. Outsourcing involves the use of a third party to handle tasks that the company used to handle internally.

To process sales transactions efficiently, concert venues often use image or laser scanners to A. ensure customer satisfaction B. identify pricing strategies C.read ticket bar codes D. develop service standards.

C. Read ticket bar codes. A bar code is a symbol known as a Universal Product Code (UPC) and contains information (e.g., price, seat, and date) that can be read by an electronic scanner. Cashiers scan the bar code on tickets which reads and translates the price electronically. Pricing strateies are the plans of action for achieving pricing objectives. Using a scanner to process a sales transaction does not ensure dcustomer satisfaction. Businesses do not use image or laser scanners to develop service standards.

Which of the following is an example of a probable conflict of interest in business operations: A. An employee meets a new client for lunch at an upsale restaurant. B. A purchasing agent provides a cusomer with a discount. C. A purchasing agent awards a large order to a relative's employer. D. An employee uses the company discount to purchase goods.

C. A purchasing agent awards a large order to a relative's employer. A conflict of interest occurs when decision making is affected by personal gain or interest. If the purchasing agent's relative is a spouse who may earn a bonus on the order, then the purchasing agent has a personal interest in the transaction. Many businesses address conflicts of interest in their ethics policies. If the company's ethical policies are followed, providing customer discounts, having lunch with clients, and using the company discount to purchase goods are not examples of unethical behavior nor are they conflict of interest.

Claire booked a room at an inn in Charleston, SC. When she arrived, she parked her car in the on-property parking garage. After checking in, she used the inn's check-cashing service and got restaurant recommendations from the concierge. In the evening, Claire enjoyed the cookies and milk provided by the inn. What is the supporting product in this scenario? A. On-property parking garage B. Check-cashing service C. Cookies and milk D. Restaurant recommendations

C. Cookies and milk. Supporting products are the extra goods and services that accompany the core product, the room at the inn, to add value to that core product. In this case, the evening snack of cookies and milk added value to the core purchase. Check-cashing services, on-property parking garages, and restaurant recommendations are examples of facilitating products. They aid with the use of the core product.

What factor determines the lowest price that would be charged for hospitality and tourism products? A.Government regulatin B. Demand C. Costs D. Consumer perceptions of value

C. Costs. To survive, businesses must cover their costs. Therefore, the lowest price is determined by the businesses' cost. Demand, on the other hand, determines the high end of what businesses can charge. Although government regulation and consumer perceptions of value are factors that impact prices, they do not determine the limits of prices.

The Six Sigma model involves continuously implementing activities that A. stimulate revenue and lessen decision making. B. promote consistency and eliminate resources. C. improve quality and reduce inefficiencies. D. influence regulation and decrease outputs.

C. Improve quality and reduce inefficienies. Six Sigma is a quality-manangement framework that involves continuously setting higher goals of perfection. Six Sigma builds upon previous goals to set higher goals inorder to continuously improve the quality of the business's goods, services, or processes. The ultimate goal is to maximize outputs, reduce inefficiencies and waste, have no process or product defects, and minimize production costs. If these actions are successful, the business's profits may increase. As a quality-contro

Jamal wants to purchase software for his small business that allows him to create text documents, prepare presentations, maintain a customer database, and develop numerical charts. What type of software would best meet Jamal's needs? A. Spreadsheet B. Word processing C. Integrated D. Trajectory

C. Integrated Integraded software applications consist of two or more related computer programs that work together to record information or perform specific business tasks or functions. An example of integrated software is Microsoft Office - it consists of several related programs, such as word -processing (Word) , spreadsheet (Excel), presentation (PowerPoint) and database (Access). Trajectory software is used to measure velocity, wind drift, momentum, etc.

Tim thought his manager told him to have the sales report done by 2:00 on Thursday, but his manager actually wanted the report by noon on Tuesday. When the report was not ready on Tuesday, Tim's manage became irritated with him. What was the reason for the disagreement or conflict? A. Authority Struggles B. Limited resources C. Miscommunication D. Inconsistent opinions

C. Miscommunication. Conflicts are disagreements. Disagreements happen for different reasons. Sometimes, it's a matter of miscommunication or misunderstanding. In the example, Tim thought he heard his manager say one day and time, when his manager actually said something else. Or, perhaps Tim's manager thought he told Tim that he wanted the report earlier than he originally requested, but really forgot to tell Tim. The disagreement did not occur because Tim had limited resoruces, because he questioned his manager's authority, or because each party held inconsistent opinions.

Which of the following are cruise-ship services that you should recommend to a bachelor and his wheel-chair bound mother: A. Raft ride over river rapids B. Onboard fitness center C. Onboard cooking demonstration D. Horseback riding along the beach

C. On board cooking demonstration. Service recommendations need to fit the needs of the customer. In this case, one of the customers lacks the mobility needed for the fitness center, horseback riding, or raft riding. The onboard cooking demonstratin would suit the monther's mobility issue.

When she opens her new business, what type of risk is Lauren taking? A. Temporary B. Pure C. Speculative D. Safety

C. Speculative. Speculative risk brings the possibility of gain, no change, or loss. When opening and running a business, the owner may turn a profit (gain) , break even (no change) or go bankrupt (loss). A pure risk involves the possibility of loss or no loss. For example, if a tornado occurs, it may hit the building and cause damage (loss) or pass the building and not cause damage (no loss). Because many factors affect the risk involved in opening and operating a business, the risk is ongoing rather than temporary- until Lauren closes or sells the business. Safety risks are preventable or controllable types of risks that involve the physical well-being of employees, customers, and visitors.

Currently, which of the following mobile advertising strategies has been most successful: A. Cross-platform campaign B. Rich media C. Text message with coupon D. Banner ad campaign

C. Text message with coupon. Currently, the mobile market is accustomed to receiving text messages on their phones. That's what they expect. Attaching a coupon or discount to the text message has been shown to get greater response than text messages without coupons. Rich media may be the futre for mobile advertising, but it's not there yet. Cross-platform compaigns indicate that the message/advertisement will be used in multiple media. Research indicates that mobile ads are more effective when they are designed specifically for that medium, rather than for multiple media. Banner ads have been boring for mobile users.

When examining two data sets, the hotel manager found that one set had a correlation of +1 and the other had a correlation of -1. What should the hotel manager understand about the strength of the relationship of the two data sets? A. The strength of the relationship of the +1 correlation is twice as strong as the -1 correlation. B. Not relationship exists with the -1 correlatioin. C. The strength of relationship of the two data sets is the same. D. The strength of the relationship of the -1 correlation is less than that of the +1 correlation.

C. The strength of relationship of the two data sets is the same. The +1 correlation has a direct relationship with the X and Y coordinates, while the -1 correlation has an iverse relationship with them. However, the strength of that relationship is the same.

Why is the audience a key factor to consider when developing viral marketing campaigns? A. They identify the time of day that the marketing campaign is to run on the Internet. B. They determine the type of product to give away. C. They signal the type of Internet medium that best reaches the audience. D. Job interviews

C. They signal the type of Internet medium that best reaches the audience. Research shows that men and youth are most likely to be reached with Internet games, while women are most likely to be reached with Internet videos. Knowing this helps marketers match the Internet medium with its target audience. The audience does not determine the type of product to give away or the theme of viral marketing campaign. Information on the Internet is run 24/7 rather than at specified times as with radio and television advertising.

A current trend is social networking sites. How are many businesses in the hospitality and tourism industry using their social networking sites? A. To book travelers' upcoming trips B. To match travelers with others who have similar interests. C. To provide a way for travelers to share their experiences D. To notify travelers of flight cancellations

C. To provide a way for travelers to share their experiences. The Internet has provided a mechanism for satisfied and unsatisfied customers to tell others about their experiences with a business. The comments of other customers are viewed as more credible statements than advertisements from the business. Therefore, travel and tourism businesses are providing this forum so that satisfied customers can spread the good word, while the problems identified can be addressed and corrections made, if needed. Hospitality and tourism businesses are not using social networking to connect travelers with similar interests, to book travelers' upcoming trips, or to notify travelers of flight cancellations.

Ben recently developed a logo for his new business. What can Ben do to legally protect the logo from unauthorized use? A. File a patent request B. Register the logo as copyrighted material C. Trademark the logo D. Obtain a subpoena from the government

C. Trademark the logo. A business can legally protect its logo from unauthorized use by registeing the logo with the appropriate government agency. If an unauthorized entity compromises or uses the logo in harmful, embarrassing, or negative ways, trademark protection provides the business with legal recourse. Copyrights provide legal protection for written , musical, and artistic works. Patents are obtained to legally protect inventions and certain types of processes for a limitied amount of time. A subpoena is a formal request issued by the court for an individual to submit evidence or serve as a witness at trial.

One of the main ways that hospitality and tourism contributes to economic growth is through A. Provision of conference space. B. Sustainable resoreces. C.Visitor exports D. use of global positoning systems.

C. Vistior exports. The money spent by foreign travelers in another country is known as visitor exports. The earnings from these sources was expected to be more than 6% of total exports by 2010. That translates to a dollar figure of $1,086, 000,000 and that figure is expected to more than double by 2020. When international travelers visit other countries, they also buy other goods and services while visiting. This helps businesses in addition to those in hospitality and tourism. Although hospitality and tourism businesses are encouraged to use sustainable resources, their use does not contribute to exonomic growth. Provision of conference space is a first step in getting groups to visit an area, but they do not in and of themselves create economic growth. Global positioning systems help to determine how to get to and from locations. They do not impact economic growth.

The sales manager at a full-service resort will be using the results of a marketing-research study for planning purposes. Which of the following is a question that the sales manager should ask: A. What promotional mix has been most effective? B. Are our guests satisfied with our services? C. What new distribution channels could we use? D. How can we lower our costs?

C. What new distribution channels could we use? When using marketing research for planning, marketers are trying to identify potential opportunities for the company. Examining new distribution channels is a potential opportunity for the marketer to pursue. By asking whether guests are satisfied with the services it is using marketing research for control purposes. Determining how to lower costs and what promotional mix has been most effective are using marketing research for problem-solving purposes.

Which of the following personal traits would be considered essential for success in most careers in hospitality and tourism: A. Athletic skills B. Mathematical skills C. Writing skills D. Communication Skills

D. Communications skills. Since careers in hospitality and tourism often require personal interactions, most employees need solid communication skills. Although some careers in hospitalty and tourism reequire mathematical and writing skills, those skills are not required by most hospitality and tourism careers. Athletic skills are generally not needed in hospitality and tourism careers.

What is the most important factor for a west-coast business to consider if it plans to use a supplier who is located in the same country on the east-coast? A. Return on sales B. Personnel policies C. Exchange rates D. Delivery timeliness

D. Delivery timeliness. When selecting a supplier, businesses must consider delivery timeliness. The business must ask if the supplier can deliver the goods when they are needed. In some situations, it may be better for a business to use a supplier who may be a little more expensive, but in closer physical proximity of the business, if that supplier can consisitentliy meet delivery requirements. Personnel policies are guidelines for employees' behavior in the workplace. The exchange rate is the value of one nation's currency in relation to another nation's currency. Return on sales or target return is a profit-oriented pricing objective in which the business bases the amount of profit it wants to earn on the amout of its sales.

What is the best way for Michelle to organize the information that she has collected for a research report that she is writing? A. Personality and life cycle B. Create the appendices C. Correct grammatical errors D. Develop an outline

D. Develop an outline. An outline helps the writer organize key points in a logical, cohesive manner. After the information is organized in the desired way, the writer uses the outline to develop a draft of the report. After developing the draft, Michelle should edit and correct grammatical errors. The appendices are supporting information placed at the end of the document.

What is the primary advantage to groups that make decisions by consensus? A. The group reaches decisions quickly because consensus is rule by a single leader. B. Each group member involved in the process gets to vote. C. The process reduces the risk of conflict among group members. D. Everyone who is involved in the process holds equal power.

D. Everyone who is involved in the process holds equal power. A consensus is a decision-making outcome that requires the substantial agreement of each group member. Every member must agree to a decision or outcome. The decision may not be each member's first choice, but each member agrees with all options. In consensus building, every group member of votes, wins. Drawbacks to using consensus as a decision-making method is that it is often time-consuming and conflicts are likely to occur because each member must discuss his/her opinions and points of difference.

Which of the following is an example of how businesses are using advergaming: A. Using pop-up ads on a competitior's website B. Showing a product being used in a movie scene C. Running avertisements during a national sports game D. Featuring products on billboards in online games

D. Featuring products on billboards in online games. Advergaming is an online video game that promotes a product, brand, or company by incorporating it into the game. There are a variety of ways in which businesses are using advergaming. One such way is by featuring products on billboards that show up during the game. Another popular advergaming technique is to feature a company's mascot or symbol in a game. Showing a product being used in a movie scene is an example of product placement. Running advertisements during a national sports game is an expensive use of advertising. Competitors would not grant permission to use pop-up ads on their websites.

A person approaches you at a hotel's front desk and asks for a guest's room number. What should you do to keep that data secure? A. Give the person the phone number of the central reservations system to obtain the room number. B. Write down the room number on a piece of paper so people withing earshot won't learn the number. C. Tell the person that you are not allowed to give out that information. D. Invite the person to use the house phone to call the guest.

D. Invite the person to use the house phone to call the guest. Front-desk attendants should not give others the room numbers of guests either orally or in writing. This helps to protect the guest's privacy and security. Although front desk attendants can mention that they're not allowed to give out the guest's room number they shouldn't stop there. The central reservartions system will not have the guest's room number.

To determine if Ethan is interested in a career in the hospitality industry, he went to work with his aunt at the Rolling Hills Golf Resort once a week last summer to observe how she spends her days. What technique did Ethan use to learn about the industry? A. Service learning B. Paid internship C. Exploratory interview D. Job shadowing

D. Job shadowing. There are may opportunities for individuals to learn about careers. Job shadowing involves observing an individual perform his/her daily job activities in the workplace. Internships are training in which businesses provide on-the-job practice for learners. Internships are often coordinated with schools and may be paid or unpaid, lasting a certain amount of time. An exploratory interview involves asking an experienced businessperson questions about his/her career, field, or industry. Service learning involves an organized volunteer effort associated with a specific school, community, or organization.

Which of the following actions encourages participation in a telephone interview: A. Using graphic aids to encourage the interviewee to talk. B. Promising to send the interviewee the study results. C. Calling the interviewee's mobile phone D. Keeping the interview short - 10 minutes or less

D. Keeping the interview short - 10 minutes or less. Research studies indicate that the shorter the interview, the more likely an inverviewee is to participate in the study. Promising to send the study results would only encourage those with a special interest in the interview topic to participate. Mobile phones are not to be used since the interviewee may have to pay for the call. Graphic aids cannot be shown in many telephone interviews.

What should a destination marketer put in the lower right-hand corner of an ad layout? A. White space B. Headline C. Illustration D. Logo

D. Logo. Readers in the U.S. and Canada generally read from left to right and top to bottom. Putting the logo in the bottom right-hand corner of an advertising layout makes the logo the last element of the ad that the reader sees and makes it the most likely element to be remembered. Headlines generally appear towards the top of advertising layouts to attract attention. White space is blank space that is good to use in layouts to unify the elements of an advertisement and to attract attention. The illustration is used to attract attention and helps to lead the reader into the headline and copy.

Which of the following offers investors the advantage of securities diversification? A. Treasury Bonds. B. Corporate bonds C. Certificates of deposit D. Mutual funds

D. Mutual funds. A mutual fund is a collection of shareholders' money that is invested by professional fund managers in an assortment of different securities such as stocks and bonds. Because the money is spread out over different types of investments, it provides the investor with a diversified portfolio. If one stock performs poorly, the investor still has many other types of investments in the fund that may be performing well, which reduces the risk of severe financial losses. Corporations sell coporate bonds to investors as a way to raise cash for their businesses. The Corportation (borrower) pays back the full amount plus interest to the investor within a certain time. A certificate of deposit is a type of lending investment in which the investor lends the money to the bank at a set interest rate for a particular period of time. The government issues Treasury bonds. The government pays back the full amount of the bond plus interest to the investor over a certain time frame, which varies by the type of Treasury bond purchased.

What is the best, least costly technique for an event management company to use to encourage recycling at an event? A. Purchase paper goods that do not need to be recycled. B. Require attendees to turn in solid waste following the event. C. Hire a waste management company to clean up the venue D. Place recycling bins throughout the venue

D. Place recycling bins throughout the venue. Many universities and businesses are using large, green recycling bins to encourage event goers to participate in recycling efforts. It's not feasible to require attendees to turn in solid waste following an event. Some attendees would, but others would resist being told what to do. Hiring a waste management company is a good technique to use; however, it's more costly than providing recycling bins. Purchasing paper products that don't need to be recycled defeats the whole purpose of encouraging recycling efforts.

In a movie that's about to be released, the main actors stop their car in front of a billboard for InterContinental Hotels. For the audience, the is an example of A. special events. B. out of home advertising C. personal selling D. product placement

D. Product placement. For the audience, the billboard is an example of product placement. Product placement is the inclusion or mention of a product in a movie or television show. InterContinental would have paid to have the billboard featured in the new movie. For the actors, the billboard is out-of-home advertising. Personal selling involves determing client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. Special events are planned activities used to generate sales.

When customers buy menu items at McDonalds' Restaurants, they are given Monopoly pieces for the chance to win prizes. What type of promotional technique is that? A. Publicity B. Transit Advertising C. Personal selling D. Sales promotion

D. Sales promotion. Sales promotion consists of any activity other than advertising, publicity, and personal selling that are designed to increase sales. The prizes that can result from use of Monopoly help to increase sales. Transit advertising is a formof out -of-home media such as billboards, car wraps, and street furniture ads. Personal selling is an effort by a company represenative to complete sales transactions. Publicity is any nonpersonal presentation of ideas, goods or services that is not paid for by the company or individual which benefits from or is harmed by it.

A human-resources manager is reviewing job applications for a marketing position to select which candidates to call for an interview. What process is the human-resources manager performing? A. Negotiating B. On-boarding C. Prospecting D. Screening

D. Screening. In the human-resources function, screening involves "weeding out" the applicants that do not meet minimum requirements for the job or have not satisfactorily completed the application. On-boarding activities are human-resources tasks that must be performed when a new employee joins the company (e.g., orientation and paperwork). Prospecting is a sales activity that involves identifying any person or organization with the potential to buy a product. Negotiating is the process of influencing someone to take a certain course of action in orer to achieve a desired outcome.

Which of the following actions is best for advancing in a hospitality and tourism career: A Bragging about our accomplishments to coworkers B. Downplaying compliments on your work C. Discussing business before orders are placed at business lunches D. Serving on committees outside your job description.

D. Serving on committees outside your job description. By volunteering to serve on committees not directly related to your job description, you have the opportunity to keep your name in the minds of company leaders. That will help them to think of you when opportunities arise. You should thank people for compliments that you receive on your work rather than acting as if the work were no big deal. Etiquette is important for business lunches. You should not discuss business until after people at the table have placed their orders. Bragging to coworkers about your acomplishments can make them resent you. Instead, send regular memos to your bosses to apprise them of the work you've accomplished.

Which of the following is a source of secondary data that Angela could use to obtain information about a competitor's promotional activities: A. Interview conducted with the competitor's advertising agency. B. Focus group feedback she obtians from the competitior's former employees. C.Survey administered to competitor's customers to determine the effectiveness of its promotional activities. D. Statistics in a trade publication's article about the competitor's advertising campaign.

D. Statistics in a trade publication's article about the competitor's advertising campaign. Sescondary data are facts, figures, and statistics that have been collected for projects other than the one at hand. In this case, the statistics in the trade publication's article were generated for a purpose other than providing the competitition with data about its promotional activities. Surveys, focus groups, and interviews are used to collect primary data: facts, figures, and statistics collected for the project at hand.

When reviewing color proofs of an upcoming magazine advertisement for an island resort, the resort's marketing communications specialist felt that the ad's colors weren't very noticeable. Which of the following probably caused that problem: A. Saturated hues appeared far from each other. B. Lighter versus darker colors were used. C. Saturated versus desaturated hues were used. D. There was little difference in hues.

D. There was little difference in hues. As colors get closer to gray, closer in hue, and equal in shade, they are less noticeable. Color contrast occurs when lighter, saturated colors are used. When saturated hues are separated from each other, the colors are noticeable. It's when they're next to each other that they become more difficult to discern.

Which of the following statements supports the concept of cultural individualism: A. Middle-Eastern cultures tend to emplahsize strickt gender roles rathater than diversity. B. The Latin American culture tends to view time in a more relaxed manner than other cultures. C. The Chinese culture values group decision making and a "we're in this together" attitude. D. Western cultures embrace the idea that working hard will reap personal rewards and fulfillment. .

D. Western cultures embrace the idea that working hard will reap personal rewards and fulfillment. Culture refers to the customs, habits, and traditions of a particular group of people. Because culture and cultural differences affect business relationships, it is important for businesspeople to understand and adapt to cultural differences in business situations. In other words, exhibit cultural sensitivity. Individualsim is the degree to which a group of people value independent work and accoumplishments. Western culture (e.g. Canada, United States, England) places a high value on individual accomplishments achieved through hard work. On the other hand, collectivism is an emphasis on group work and accomplishments. Eastern cultures (e.g., China, Japan) tend to value group decision making and accomplishments over individual efforts. Time and gender roles are important considerations when exhibiting cultural sensitivity, but these factors are not related to the concept of individualism

Does the hospitality and tourism industry offer career opportunities for entrepreneurs? A. Yes. Businesses in the hospitality and tourism industry are started with state funding. B. No Businesses in the hospitality and dourism industry are franchises. C. No. Businesses in the hospitalty and tourism industry are too large for start-up businesses. D. Yes. Businesses in the hospitality and tourism industry can start small and expand.

D. Yes. Businesses in the hospitality and tourism industry can start small and expand. There are lots of opportunities for people to dream and acturalize those dreams when they open their businesses. Not all hospitality and tourism businesses start out as large companies - many are one-person operations and are not part of a franchise. Most hospitality and tourism businesses are started with the owner's debt or equity financing rather than with state funding.

Ian's employer electronically places Ian's paycheck directly into his bank checking account every pay period. In what column on Ian's bank statement will he find A. Withdrawals and debits B. Deposits and credits C. Deposits and debits D. Withdrawals and credits

Deposits and credits. A bank statement is a summary of all transactions that occur for a certain period of time, usually one month. The bank sttement will indicated the day, amount, and transaction type on the statement. The account holder compares the bank statement with his/her checkbook to determine problems or discrepancies. Ian's employer is electronically putting his paycheck into his account; therefore, the amount will be recorded as a deposit (credit) since money is being added to the account on Ian's behalf. The withdrawals and debits column on the bank statement records all of Ian's withdrawals (debits). Ian bills are located in this column - rent, car payment, growceries, etc.

Which of the following activities represents a way in which a company with a dominant position can restrict trade: A. Exclusive agreements B. Partnership agreements C. Binding contracts D. Joint ventures

The answer is A, exclusive agreements. Exclusive agreements are a supplier's requirements for its customer to handle only its products or to agree to not handle other companies' products. When this restricts trade, it is considered illegal in Canada and in the U. S. A partnership agreement is a written agreement signed by business partners that specifies the terms of the partnership arrangement. Contracts are legal agreements between two or more businesses stating that one party is to do something in return for something provided by the other party. Once contracts are signed and accepted by the businesses, they are considered binding agreements in that if one of the parties fails to live up to the agreement, the party will be guilty of breach of contract. Joint ventures are arrangements that involve two or more businesses entering into a relationship by combining complementary resources such as technology, skills, capital, or distribution channels, for the benefit of all parties; the relationship is usually short-term or fro a single capital, or distribution channels, for the benefit of all parties; the relationship is usually short-therm or for a single project/transaction. Joint ventures, binding contracts, and partnership agreements do not inhibit trade.

The primary purpose of placing headings and subheadings in a long business report is to A. Organize content in a cohesive, manageable way. B. attract attention to the writer's hidden agenda. C. provide supporting evidence for key points D. solicit an opinion or response from the audience

The answer is A, organize content in a cohesive, manageable way. Long business reports often contain a lot of information about different topics. To organize the information so the audience can understand the report's contents, report writers often break content into chunks of related information. Headings and subheadings are often included before the section or topic to let the audience know the issue at hand. Headings and subheadings do attract attention because they are often formatted with a larger or color -coded font; however, the primary purpose is not to convey a hidden agenda, provide supporting evidence, or solicit an opinion from the audience.

Allison is attending a business seminar. Because the seminar presenter is speaking very quickly, Allison is having a difficult time taking accurate notes. What technique would help Allison take notes quickly? A Use abbreviations and symbols B. Write notes on index cards C. listening to the speaker D. Ask the speaker to provide handouts .

The answer is A, use abbreviations and symbols. Developing a system of and writing down abbreviations and symbols (i.e., shorthand) is much quicker than writing out long phrases and complete sentences. For example, to remember a very important point, Allison might place a star or Asterisk by a key word, short phrase, or abbreviation. After the seminar, Allison can refer to her "shorthand" notes and write more comprehensive notes for future use. Writing on note cards, focusing on subtopics, and asking the speaker to provide handouts will not help Allison take accurate notes in real time

While conducting a staff meeting, the speaker noticed that Colin was texting on his cell phone. Colin's nonverbal behavior indicates that he was A. annoyed. B. Distracted C. listening to the speaker. D. interested in the topic

The answer is B, distracted. Nonverbal cues are the elements of communication that involve gestures and facial expressions rather than words. Nonverbal cues often express what the senders and recipients think about their messages. If Colin was interested in the meeting topic or was listening to the speaker, he would be directing his attention to the speaker. Since Colin was looking at his phone and text messaging, he was distracted and was probably not paying attention to what the speaker was saying. The speaker likely felt that Colin's nonverbal behavior was rude and inconsiderate. There is not enough information to determine if Colin was annoyed.

The purpose of legal procedure is to ensure that each party receives A. a reasonable verdict. B. ongoing advice C. Consistent treatment D. an indictment

The answer is C, consistent treatment. Legal procedure refers to the methods and processes used to protect an individual's or business's legal rights. These rights include the right to obtain legal counsel, the right to be heard in court, the right to confront the accuser, etc. Legal procedure involves following the same steps and protocol to ensure that both the defendant and the plaintiff are treated in a fair and consistent manner. The purpose of legal procedure is not to ensure that each party receives ongoing advise

A businessperson is writing a letter of inquiry to a vendor asking about the price of a specific piece of office equipment. What does the businessperson need to include in the letter? A. Product model number, invoice number, and quantity desired B. Purchase order number, contact information, and shipping address C. Contact information, product model number, and manufacturer. D. shipping address, manufacturer, and purchase order number

The answer is C, contact information, product model number, and manufacturer. A letter of inquiry is a request for information. The businessperson should provide the manufacturer of the equipment and the product's model number so the letter recipient knows which item to provide a price for. The letter writer should also include his/her contact information-e-mail address, telephone number, mailing address-so the message recipient knows who or where to send he requested information. The businessperson is asking for a price but not placing an order. So, the business person would not provide a purchase order number. The vendor generates an invoice after the order has been placed. If the vendor provides quantity discounts, the businessperson may need to indicate the quantity desired to provide accurate prices.

What type of information should employees be able to locate in their company's employee handbook? A. The number of vacation days that an employee has taken B. The company's list of current job openings C. The company's annual report (D). The use of company property.

The answer is D, the use of company property. The use of company property. Businesses often develop employee handbooks, which provide information about their general policies and procedures. Employee handbooks are usually given to new employees when they are hired. Employee handbooks usually provide information about overtime and vacation policies, disciplinary and grievance procedures, pay schedules, dress codes, and behavioral expectations in its employee handbook. Many employee handbooks include information about employees and theri personal use of company property. Company-property issues that the handbook might address include making personal long-distance phone calls on the company phone and using the office copy machine or laser printer for non-business purposes. Lists of the company's current job openings and personal information about vacation days are usually available through the human-resources department, and are not included in the employee handbook. Additionally, the company's annual report is not usually included in the employee handbook. Often, corporations post their annual reports on the company's web site.