DECA Marketing Cluster Exam

"I can't agree to your terms until I discuss the situation with my manager." This is an example of the __________ negotiating strategy. A. limited authority B. good cop/bad cop C. deadline-driven D. bargaining

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A benefit of using an electronic calendar to prepare schedules is that it allows employees to A. manage their time. C. delegate tasks. B. communicate with coworkers. D. prioritize a deadline.

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A business conducts marketing research when it needs to solve a problem or when it wants to A. identify a new market opportunity. B. increase its sales staff. C. coordinate activities. D. analyze financing options.

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A clothing manufacturer checks one pair of pants out of every shipment to ensure the quality of its product. This process is known as quality A. inspection. B. guarantee. C. delivery. D. assurance.

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A commission or bonus is an example of a form of A. compensation. B. assistance program. C. benefit. D. employee contract.

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A consumer advantage of cooling-off laws is that it allows A. buyers a limited amount of time to withdraw from a purchase agreement without penalty. B. sellers an unlimited time frame to file a lawsuit if the buyers back out of the sales contract. C. buyers to withdraw from the purchase agreement but must pay high fines to the sellers. D. sellers to withdraw from the purchase agreement but must pay high fines to the government.

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A critical aspect of financial planning involves A. saving money for unexpected situations. C. investing money in high-risk securities. B. obtaining several credit cards. D. setting broad financial goals.

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A good indication that you may be making an unethical choice is if you A. make excuses to justify your behavior. C. maintain confidential information. B. attempt to be objective. D. disagree with the rules.

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A government establishes an organization that monitors and ensures that businesses are complying with advertising laws. This organization is an example of a A. regulatory agency. C. legislative body. B. lobbying group. D. watchdog corporation.

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A manager evaluates the production output of a department by checking it against the production goals for that time period. This is an example of the __________ function of management. A. controlling B. directing C. organizing D. planning

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A marketer is having difficulty finding data about a competitor because the competitor's financial records have not been made public. Which disadvantage of secondary research does this situation illustrate? A. It can be incomplete. B. It can be out of date. C. It can be costly. D. It can be time-consuming.

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A memo on the bulletin board from a supervisor to staff members is an example of __________ communication. A. downward B. formal C. upward D. horizontal

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A plant manager or a department head would be an example of which level of management? A. Middle B. Operating C. Top D. Supervisory

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A primary advantage to businesses using direct marketing to promote their goods and services is that the messages A. are sent to those who are mostly likely to buy. B. enhance the business's credibility. C. are relatively inexpensive to produce. D. provide customers with direct access to knowledgeable salespeople.

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A producer can minimize channel conflict among its distributors and retailers by A. offering different products through each channel. B. selling its items directly to the end users. C. establishing slotting fees for certain channels. D. requesting that the channel members carry only its brand.

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A restaurant server might obtain valuable information about the taste of a new menu item by talking to A. customers. B. the cooks. C. friends. D. suppliers.

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An advantage of newspaper advertising over television and radio promotion is more A. consumer interest in the ads. B. effective use of color. C. sensory appeal. D. prestige from being local.

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An effective executive summary A. is written for people who won't read the whole document. B. includes every point from the business report. C. uses technical terminology to show the writer's expertise. D. features complex compound sentences.

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An important aspect of a business's production efforts is A. obtaining the necessary resources. C. identifying financing options. B. scheduling a sales promotion. D. developing compensation policies.

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An ongoing trend that affects how efficiently businesses operate is A. technology improvements. B. stable economic conditions. C. predictable buying motives. D. product classification methods.

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Because of their strategic significance in providing place utility, it is usually easier to change price or promotional efforts than to change A. distribution channels. C. market strategies. B. target markets. D. packaging.

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Before identifying the right people to work on a project, it is important to A. develop accurate job descriptions. B. select necessary supplies. C. ask organizations for contributions. D. prepare construction specifications.

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Before you analyze the available information to solve a problem, it is important to A. identify and check your assumptions. B. brainstorm possible solutions. C. determine the best solution from several alternatives. D. ask for input from your peers.

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Being a good listener is an example of what type of behavior that builds positive working relationships? A. Being cooperative B. Carrying your own weight C. Getting to know others on your work team D. Having a good attitude

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Businesses may price goods with a higher-than-average markup when A. the risk of markdown is great. B. customers are given little service. C. handling expenses are low. D. stock turnover is high.

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Caitlin has three credit cards. She receives her credit card statement for one of the cards and has to decide how to pay the $500 she spent with that card. To pay the least for use of the credit, she should pay with __________ and make the __________ payment. A. cash; full B. cash; minimum C. another card; full D. another card; minimum

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Claudia is creating a balance sheet for her business. She lists the full value of all of her assets, even some office equipment she hasn't completely paid for. However, to find the true net worth of her business, Claudia must subtract the money she owes on the equipment, since the debt is considered a(n) A. liability. B. liquid asset. C. accounts receivable. D. dividend.

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Computer networking and information sharing among channel members at all levels have increased the levels of collaboration and A. transparency. C. competitiveness. B. mediation. D. bureaucracy.

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Consumers may be prompted to increase their spending when A. the government implements expansionary monetary policies. B. unemployment rates steadily increase over an extended period of time. C. businesses purchase fewer raw materials. D. their confidence levels in the health of the economy decline.

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Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management? A. New-product development C. Idea generation B. Elimination of weak products D. Monitoring of existing products

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During periods of economic expansion, businesses are likely to A. increase their production. B. reduce their profits. C. stop hiring workers. D. benefit from high interest rates.

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During periods when employment is high and the nation's outlook is optimistic, selling prices of products tend to increase. This is an example of selling prices affected by A. economic conditions. C. competition. B. supply and demand. D. government regulation.

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During which stage of the product life cycle should a business focus on the points of difference between its product and its competitors' products? A. Growth C. Declining B. Maturity D. Introductory

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Employees who are unable to respond to questions about the company's goods or services can affect the customer's A. image of the business. C. sourcing strategy. B. purchasing ability. D. price fixing.

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Employees who never take company supplies or equipment, such as pens or tools, for their own use help the business to A. control expenses. B. increase profits. C. control shoplifting. D. reduce external theft.

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Every pay period, Amanda places $100 from her paycheck into a savings account that earns 4.5 percent interest. In this situation, money functions as a A. store of value. B. medium of exchange. C. form of barter. D. measure of income.

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Henry works in a business's receiving room. While working, Henry was lifting and setting down heavy boxes when he experienced back and abdominal pain. What type of workplace injury did Henry receive? A. Strain C. Sprain B. Closed wound D. Open wound

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Holding a telephone conference call is an efficient way for multiple employees to communicate at the same time when they A. work in different cities. C. perform different job functions. B. require visual aids for discussion. D. lack text messaging capabilities.

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How can a business communicate a print advertisement's message to its audience in an appealing way? A. Coordinate the advertisement's elements B. Focus more on the text and less on graphics C. Use testimonials from celebrities in the news D. Select a variety of bold fonts and unrelated graphics

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How does increased business productivity benefit consumers? A. More goods and services become available, so prices go down. B. More goods and services become available, so prices go up. C. Costs of labor and prices increase, so inflation goes up. D. The gross domestic product goes down, so inflation goes up.

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How has the Internet enhanced a business's ability to promote its products? A. Consumers can access the business's website at any time. B. The business is able to update online product information less frequently. C. Consumers can choose to disregard or ignore online advertising. D. The business is able to sell higher volumes of goods or services quickly.

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If a pharmaceutical company sets an unnecessarily high price for a lifesaving drug, it is behaving in a(n) __________ manner. A. socially irresponsible C. conscientious B. economically justifiable D. charitable

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If total cost is $3,000 with zero quantity produced and $6,500 with 1,000 items produced, what is the marginal cost of producing each item? A. $3.50 B. $3.00 C. $6.50 D. $1.00

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In relation to channel management, which of the following actions should the manufacturer take to effectively introduce a new product to the marketplace: A. Use appropriate promotional techniques to inform channel members B. Establish ethics policies C. Improve communication with distributors or wholesalers D. Apply for a line of credit

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In which of the following documents is it most appropriate to include an executive summary: A. Complex research report C. Employee handbook B. Six-page case study D. Manuscript outline

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Information usually comes in either physical form or __________ form. A. electronic B. book C. note card D. verbal

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Instead of going through Jeff's files, Amanda waits until Jeff returns from lunch to obtain a file that she needs to review. This is an example of one coworker ________ of another coworker. A. respecting the privacy B. violating the workspace C. correcting the work D. reinforcing the efforts

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It is often best for a business to use an exclusive distribution pattern when it A. needs to maintain tight control over a product. B. prefers to have its intermediaries promote the product. C. chooses to eliminate intermediaries. D. wants the product to be available in all possible locations.

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JIB Corporation's research and development team examined the company's top-selling item and determined ways to improve it. JIB generated these product ideas in relation to A. product modification. C. customers' suggestions. B. competitors' products. D. product placement.

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Kate's coworker Jack is meeting with a very important German client tomorrow. Kate has been to Germany several times, and tells Jack that German businesspeople tend to be very formal and serious in business situations. After learning this information, Jack now knows that he should avoid A. using humor. C. shaking hands. B. using titles. D. making eye contact.

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Kelsey's work team decides that the best way to approach a situation is to have each member focus on different aspects of the issue, such as fact finding, positives, negatives, and emotions. What creativethinking technique is the work team using? A. Six Thinking Hats C. Mind mapping B. Brainstorming D. Unconscious problem solving

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Manufacturers often provide special instructions on product labels that salespeople can use to A. explain care techniques to customers. B. show customers how to return products. C. promote products to competitors. D. develop visual merchandising displays.

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Many businesspeople are required to take continuing education classes to A. maintain their professional certifications. B. improve their standard of living. C. demonstrate their emotional intelligence. D. supplement their existing income.

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Marketers may want to use research to study the economy, a factor that is subject to change. In this context, the economy can be described as a(n) A. variable. B. case study. C. experiment. D. hypothesis.

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Mike is thinking about expanding his manufacturing business internationally. Which of the following is a risk he might encounter: A. Dealing with cultural and language barriers B. Encountering new markets C. Dealing with fewer government regulations D. Saving money on taxes

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Monitoring financial accounts and reading bank statements on a regular basis can help detect activities associated with A. identity theft. C. personal hijacking. B. property infringement. D. securities fraud.

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One business promising to do something for another business in return for receiving compensation is an example of a A. contract. B. benefit. C. treaty. D. enterprise.

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One of the roles of ethics in finance is to encourage business employees to A. make the right decisions. C. sell to customers. B. increase company profits. D. prepare operating budgets.

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One reason advertising prescription drugs online might be considered an ethical issue is because the advertisements might persuade customers to A. use drugs they do not need. B. obtain drugs from the manufacturer. C. buy drugs they cannot afford. D. order drugs that are inexpensive.

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One way that advances in technology are impacting the product/service management function is by making it possible for businesses to A. improve existing products. B. eliminate human errors. C. simplify production systems. D. control customer preferences.

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People are usually the most important resource because they are the ones who will A. do the work. B. use the tools. C. solve the problems. D. lead the project.

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Providing marketing information is an important channel activity. Businesses rely on marketing information to determine A. their target markets' needs and wants. B. how intermediaries are performing. C. how much to charge for their products. D. what to name their products.

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Salespeople who withhold negative product information from customers might be guilty of A. negligence. B. exaggeration. C. guessing. D. reciprocity.

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Sasha has just received a fax order from a customer. The customer has requested six each of a certain product, but has not indicated the desired color. What can Sasha do to make sure that the customer receives the desired product? A. Contact the customer and ask him/her what color s/he wants B. Select the color based on the most available in stock C. Have the warehouse staff ship one in each color D. E-mail the customer to advise him/her that the order is incomplete

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Sean was born and raised in Quebec, and his grandparents are from Ireland. Sean's Irish heritage is his A. subculture. C. standard culture. B. dominant culture. D. culture.

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Shayla has a coworker who is from another country. Shayla and her coworker also have different religious backgrounds. Which of the following actions should Shayla take: A. Accept her coworker and learn about the coworker's religion. B. Focus on the differences, not the similarities, between them. C. Avoid talking to the coworker so as not to offend her. D. Take a negative attitude toward their differences.

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Software that allows for real-time analysis of marketing information enables businesses to search many databases and identify A. obscure relationships. B. pricing strategies. C. hidden objections. D. distribution channels.

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Successful positioning appeals to customers' A. emotions. B. five senses. C. desire to save money. D. logic.

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Susan's father receives veterans' benefits, and her grandmother gets Social Security. Are these payments counted in GDP? A. No, these are transfer payments. B. Yes, these are government purchases. C. Yes, these funds are for personal consumption. D. No, the recipients produce goods and services.

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The basic purpose of writing a letter of application concerning a job opening is to A. interest the employer in interviewing you. B. describe your job skills in detail. C. tell the employer how you found out about the job. D. provide the employer with your complete work history.

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The component of the promotional plan that determines the funds available for promotion is the promotional A. budget. B. method. C. mix. D. objectives.

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The most appropriate way for the High-Tech Computer Company to communicate information about its new line of computers at a trade show is by A. holding product demonstrations. C. placing billboard advertisements. B. sending direct mail. D. developing a contest.

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The most important reason why workplace accidents which do not result in injuries should be reported to supervisors is because A. the next accident could result in an injury. B. this is required by state law. C. the report prevents future liability. D. this is an OSHA requirement.

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The night clerk in a local motel often complains to the manager about having to assist his/her coworkers. This is an example of an employee having a(n) __________ attitude. A. negative B. productive C. innovative D. indifferent

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The owner of a business is meeting with the company's managers and supervisors to set objectives for the next year. This group is developing the company's A. business goals. B. channels of distribution. C. market share. D. promotional mix.

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The primary reason why many people engage in career-oriented networking activities is to A. connect with others who might help them accomplish professional goals. B. develop an extensive list of sales prospects and contacts. C. obtain letters of recommendation from previous employers. D. cultivate a wide circle of social and personal contacts.

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The process of coding is part of which step of the marketing research process? A. Analysis B. Collection C. Presentation D. Preparation

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The single most important aspect of making a financial plan and setting goals is A. getting started now. C. making enough money. B. learning to make hard choices. D. choosing a career path.

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The specific goal of product promotion is to A. persuade consumers to buy a particular good or service. B. inform consumers about the company. C. show the company's commitment to technology or research. D. change a particular attitude toward a firm or its products.

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To obtain reliable, valid marketing-research data when conducting personal interviews, researchers must make sure that the interviewers are A. open, friendly, and nonjudgmental. C. consistent, biased, and aggressive. B. approachable, opinionated, and organized. D. courteous, passive, and distant.

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What approach to record keeping is Dahlia's business using when it hires a data processing center to handle the record keeping for its accounting information? A. Outsourcing the task C. Hiring an employee B. Establishing a department D. Keeping the records personally

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What are the characteristics of dissonance-reducing buying behavior? A. Expensive, infrequent purchase with high buyer involvement and few perceived differences B. Inexpensive, frequent purchase with low buyer involvement and few perceived differences C. Expensive, infrequent purchase with high buyer involvement and strong brand recognition D. Inexpensive, frequent purchase with low buyer involvement and strong brand recognition

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What can a business do to attract trade-show attendees to the business's display or booth? A. Hold a prize drawing or raffle C. Place business cards on the display table B. Send product coupons to attendees D. Have plenty of seating available

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What can businesses do to reduce risks associated with personal injuries and product damage due to improper product use? A. Provide detailed written instructions C. Implement a return policy B. Offer a service guarantee D. Use recyclable packaging

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What course of action can a lender take if a debtor's account is past due? A. File a judicial lien C. Apply for bankruptcy B. Claim defamation D. Liquidate assets

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What do all businesses need to be aware of with regard to the accounting process? A. Legal considerations B. Management styles C. System specifications D. Research techniques

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What does a successful corporate brand communicate and how should it communicate them? A. Benefits, consistently C. Procedures, unusually B. Motives, vaguely D. Jargon, ordinarily

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What does an enclosure notation at the bottom of a business letter signify? A. Something is being sent with the letter. B. Copies of the letter were sent to others. C. The sender wishes a reply. D. The sender prepared the letter.

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What entertaining form of Internet promotion involves animations that float across the computer screen and move back to their original space? A. Media-rich advertising C. Interstitials B. Blogs D. Banner ads

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What is a method that managers can use to motivate employees? A. Offering performance-based financial rewards B. Encouraging employees to specialize C. Investing in new technology D. Sharing customer information with employees

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What is a potential benefit to an employee who demonstrates initiative on the job? A. More advancement opportunities C. Decreased job responsibilities B. Fewer performance reviews D. Increased emotional intelligence

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What is a type of company promotional material that can be used as a source of information for selling? A. Newspaper advertisements C. Product labels B. Professional publications D. Trade magazines

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What is an economic factor that businesses might identify as a result of conducting an environmental scan? A. Unemployment rate C. Population shift B. Increased regulation D. Lifestyle adjustment

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What is the first thing you need to do when you want to persuade others to take a certain course of action? A. Understand your audience C. Express a need or want B. State your case D. Communicate clearly

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What might result if a business fails to maintain positive customer/client relations? A. Decrease in sales C. Loss of advertisers B. Reduction in assets D. Lowering of goals

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What should you avoid doing when filling out an employment application? A. Leaving blank spaces B. Specifying certain jobs C. Providing exact data D. Signing your name

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What strategy can make or break a business's product mix? A. Positioning B. Contracting C. Altering D. Expanding

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What tends to occur when a country is experiencing political instability? A. Its currency loses value. C. Domestic trade improves. B. Unemployment rates decrease. D. Commodity trade increases.

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What type of information are businesses that sponsor sales promotion sweepstakes and contests required to make available to the customers who participate in those promotions? A. Odds of winning B. Amount of rebate C. Value of coupon D. Samples of product

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What type of research would a business conduct if it wanted to identify potential issues or opportunities? A. Exploratory C. Descriptive B. Experimental D. Causal

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When Cynthia, a credit analyst with Houghton Software, heard rumors of a company layoff, she asked her manager Todd if the rumors were true and if her job was in jeopardy. Although Todd knew that some lay-offs were coming, he told Cynthia not to worry about things. The following week, Cynthia's job was eliminated. In this situation, ethical issues regarding company information occurred because A. Todd misled Cynthia. B. Cynthia asked irrelevant questions. C. Todd was completely honest with Cynthia. D. Cynthia started the rumors.

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When Trish learned that her company was switching to a new computer-software program, she accepted the change and worked overtime to become familiar with the new program. Trish exhibited __________ behavior. A. adaptable B. stubborn C. passive D. irresponsible

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When a customer asks how long a product will last, s/he is interested in its A. durability. B. uses. C. origin. D. features.

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When a salesperson first begins to establish a relationship with a customer, s/he should focus on A. putting the customer at ease. C. asking the customer for the sale. B. describing the product's benefits. D. recommending complementary items.

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When businesses need to formalize the information provided to employees, customers, or other businesses, they often use __________ communication. A. written B. lateral C. upward D. verbal

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When developing a sampling plan for a marketing-research project, a business must first determine A. the size of the group it intends to survey. B. the validity of the information. C. how the researchers should code the responses. D. how to predict the sample group's responses.

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When participating in a project-status meeting, it is important for a participant to A. be prepared to provide an update. B. monopolize the conversation. C. provide information about new company policies. D. take notes for the group.

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When positioning its corporate brand, it is important for a company to evaluate its competitors so it can determine A. points of difference. C. managerial styles. B. profit margins. D. support services.

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When writing informational messages, business employees should explain the situation and include sufficient data for the recipient to be able to A. make a decision. B. read the message. C. contact the business. D. agree with the content.

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Which of the following are characteristics of effective business information: A. Usable, accurate, and retrievable C. Applicable, historical, and complete B. Current, simple, and accessible D. Organized, complex, and superficial

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Which of the following best describes the relationship of promotion and marketing: A. Interrelated B. Subsidiary C. Dependent D. One to one

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Which of the following communication channels is a corporation's public-relations department most likely to use to maintain positive relationships with shareholders: A. Newsletters, annual reports, and the company's web site B. Press releases, online social networks, and print advertisements C. News conferences, consumer blogs, and employee manuals D. Policy manuals, commercials, and sponsorships

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Which of the following data-collection methods obtains product information during the point-of-purchase process: A. Volume-tracking scanner C. E-mail survey B. Photographic scanner D. Statistical survey

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Which of the following elements is part of a business's external environment? A. Tax code B. Research and development C. Marketing D. Personnel

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Which of the following factors has aided the most in creating a global business environment: A. Technology B. Government C. Cultural changes D. Exchange rates

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Which of the following forms of ownership is a group of individuals organized by a charter that is granted by a state: A. Corporation B. Proprietorship C. Partnership D. Cooperative

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Which of the following individuals chooses goods for resale, surveys consumer trends, and rates past performance of products and vendors: A. Retail buyer C. Receiving manager B. Durable goods producer D. Industry researcher

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Which of the following is a leading question: A. Mia is a great manager, isn't she? B. How was your weekend? C. What did you discuss in the meeting? D. What are you having for lunch?

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Which of the following is a product strategy that marketers devise using available data: A. What level of customer service to provide B. Where to sell the product C. What advertisements to run D. How much to charge

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Which of the following is a reason why the ethical and legal issues involved in selling activities are extremely important: A. Buyers avoid doing business with unethical salespeople. B. Sellers must understand how to criticize competitors. C. Sales staff must know when they can legally bend the truth. D. Sales managers are not responsible for what the sales staff does.

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Which of the following is a situation in which horizontal conflict may occur among channel members: A. Scrambled merchandising C. Direct selling B. Chargebacks D. Franchisor restrictions on franchisees

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Which of the following is a use of product promotion: A. Informing customers about product features B. Highlighting social or environmental issues C. Recruiting new employees D. Changing attitudes toward the company

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Which of the following is a way that marketers can use data to "follow up" on any problems or issues with a product: A. Providing salespeople with additional training B. Determining what new products to offer C. Deciding what wholesalers to use for distribution D. Budgeting for product development

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Which of the following is an area at a business that must be maintained on a regular basis: A. Sidewalks C. Shelving B. Furniture D. Fixtures

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Which of the following is an example of a current trend in business: A. Protecting consumer privacy B. Expanding economic growth C. Developing market research D. Promoting private enterprise

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Which of the following is an example of a direct-marketing channel that a business can use to send personalized promotional information to its customers in real time: A. Cell phone C. Scanner B. Catalog D. Television ad

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Which of the following is an example of a public-relations activity that involves communicating with an internal audience: A. Developing an employee newsletter C. Distributing a press release B. Holding a weekly press conference D. Making a donation to a charity

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Which of the following is an example of a secondary source of data that a business can obtain internally: A. Sales report C. Government web site B. Trade journal D. Magazine article

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Which of the following is an example of a team leader using a positive incentive to motivate his/her team members: A. Ali told the team that everyone could take the afternoon off if the project was completed on time. B. Kate rudely told her team members, "Since the two of you can't do this right, I'll just do it myself." C. Karl said, "If this project isn't done on time, we're all going to receive bad performance reviews." D. To ease the tension in the group, Calvin told a joke, which made all the team members laugh.

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Which of the following is an example of an unethical practice related to obtaining marketing information about a competitor: A. An OQR business associate poses as a security guard at the PRW Corporation's headquarters to obtain information about the corporation's business activities. B. A marketing-research firm conducts a focus group and fails to fully disclose important facts about the way in which the firm will use the participants' feedback. C. BCT Technologies employs staff to search its competitors' web sites and government databases to obtain information about its competitors. D. INV Company sells its mailing list to LMN Industries and the TQS Manufacturing Company without the consent of its customers.

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Which of the following is an example of range: A. Consumers buy between four and eight widgets per week. B. Consumers buy an average of six widgets per week. C. Most consumers buy five widgets per week. D. Half of all consumers buy more than four widgets per week.

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Which of the following is an important aspect of a business's operations function: A. Establishing efficient processes C. Providing access to information B. Locating potential customers D. Hiring qualified employees

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Which of the following is considered an external cause of business cycles: A. Climatic changes B. Aggregate demand C. Money supply D. Inventory levels

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Which of the following is most likely to result if workers fail to meet time standards: A. Reduced number of products available C. Reduced costs B. Increased promotion D. Increased quality of products provided

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Which of the following is not a cause of accidents on the job: A. Compliance with rules B. Lifting with the back muscles C. Lack of knowledge D. Horseplay among workers

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Which of the following is the first step in the bidding process: A. Identifying needs B. Developing a request for proposal C. Negotiating terms D. Assessing each bidder's strengths and weaknesses

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Which of the following pricing practices is illegal in some countries because it may drive a company's competitors' out of business: A. Below-cost pricing B. One-price policies C. Price skimming D. Markup pricing

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Which of the following responses to a difficult situation would damage your professional image: A. Using inappropriate language B. Listening without interrupting C. Showing empathy toward others D. Controlling your facial expression

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Which of the following situations best demonstrates why businesses should retain their records: A. A business is planning to sell out to another company. B. A business is planning to send anniversary cards to employees on the date of their employment. C. A business is planning to send press releases to the local newspaper. D. A business is planning to use webinars for employee training.

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Which of the following statements about understanding your spending habits is true: A. The first step in creating a financial plan B. A key aspect in exceeding financial goals C. A key aspect of opening a bank account D. The last step in creating a financial plan

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Which of the following statements is true about consensus building: A. The agreed upon option is not always each person's first choice. B. In most cases, consensus allows for a minority to rule. C. Each group member's opinion is less important than the leader's opinion. D. Consensus can be reached without everyone's agreement.

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Which of the following statements is true about the timeliness of research information: A. A company that uses out-of-date research data may make poor business decisions. B. Timely information is usually relevant to the problem or situation at hand. C. Timely information that is obtained from online sources is usually accurate. D. Older information that is obtained from secondary sources lacks credibility.

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Which of the following statements is true about the use of computer-coded frequent-shopper cards: A. Cardholders receive better discounts on certain products than non-cardholders. B. Non-cardholders pay service fees to obtain the lower prices that cardholders pay. C. Non-cardholders receive reward points rather than price discounts. D. Frequent-shopper cards serve as incentives for customers to buy from other businesses.

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Which of the following statements is true regarding the use of diaries as a marketing-research collection method: A. Diaries record repetitive behaviors that occur at frequent intervals. B. Diaries primarily provide quantitative information for researchers. C. The disadvantage to using diaries is that they do not provide in-depth information. D. The advantage to using diaries is that information can be easily tabulated.

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Which of the following would help a job applicant to fill out job application forms easily: A. Having a personal data sheet B. Having computer experience C. Keeping a file of job leads D. Knowing someone at the business

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Why do businesses try to build a clientele? A. Leads to repeat business B. Gives the business a new image C. Attracts well-to-do customers D. Provides continuing sources of new workers

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Why is it important to coordinate the elements in advertisements? A. To strengthen the theme B. To analyze the objective C. To simplify the message D. To locate the audience

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Why must a business be very careful about eliminating products? A. To prevent damaging the company's image B. To comply with government regulations C. To make higher prices acceptable D. To avoid the need for commercialization

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Writing key points on notecards and then placing the cards in order of their importance is one way to A. organize information. B. access files. C. revise facts. D. verify accuracy.

A

Your supervisor has asked you to prepare a marketing status report for each of the company's six regional offices. The most appropriate way to organize the information is A. by site location. B. by sales function. C. in chronological order. D. in reverse sequence.

A

Your supervisor has asked you to prepare a marketing status report for each of the company's six regional offices. The most appropriate way to organize the information is A. by site location. C. in chronological order. B. by sales function. D. in reverse sequence.

A

"Big Q" is also known as A. lean production. B. total quality management. C. robust design. D. concurrent engineering.

B

A business can enhance its customer-service levels after the sales transaction has occurred by A. arranging financing and suggestion selling. B. offering training programs and providing technical support. C. providing product information and generating referrals. D. checking inventory status and advertising product specials.

B

A business can protect its confidential computer information from unauthorized users by A. developing Internet message boards. B. encrypting computer files. C. conducting annual virus scans. D. classifying business data.

B

A business introduces a new product to mid-sized cities in the southeastern section of the country. The business monitors the product's sales to determine if it should introduce the product nationwide. What marketing-research method is the business using? A. Observation C. Consumer panel B. Test marketing D. Survey

B

A business might choose to participate in a regional trade show instead of a national trade show because regional trade shows A. attract more attendees than national trade shows. B. are usually less expensive than national trade shows. C. are usually held at desirable destinations. D. generate a large portion of the business's annual sales income.

B

A business should decide at the beginning of a marketing-research project how much it can afford to spend in order to A. tell the researcher when to stop the project. B. narrow the focus of the research if necessary. C. cut the project in half if that is all it can afford. D. skip some of the research steps if it needs to save time.

B

A business should strive to keep its cash conversion cycle as short as possible so it A. can earn dividends. B. has cash available to use. C. can increase its profit margin. D. has fewer liquid assets.

B

A business that wants to obtain a lot of publicity about a new product should send a formal announcement to an external audience, such as the A. managers. C. employees. B. media. D. board of directors.

B

A manager looks at financial information to see if the company can afford to purchase a popular new item it wants to add to its shelves. This is an example of using financial information to A. manage debt. B. increase sales. C. check up on the competition. D. reduce expenses.

B

A nation's currency exchange rate is likely to increase when A. the labor force shrinks. B. consumer confidence is high. C. an economic contraction occurs. D. stock values fluctuate.

B

A primary reason that businesses expand their operations in foreign countries is to A. eliminate tax obligations. C. condense their market shares. B. increase revenues. D. promote environmental issues.

B

A project's quality-management plan includes strategies to ensure the quality of the deliverables as well as the quality of A. the project's purpose. B. the project itself. C. employee education. D. organizational investors.

B

A reason that many companies update or alter existing products is to A. be able to plan production quantities. B. make them competitive with similar products. C. create new products to put on the market. D. use a familiar production process.

B

A retailer advertises discounted prices for certain items in a local newspaper and deliberately does not change the prices of the items in its computer system during the sale. As a result, customers were charged the original prices at the point of sale. This deceptive pricing practice is called A. price discrimination. C. collusion. B. scanner fraud. D. dumping.

B

A salesperson tells a customer, "Mrs. Wentworth, not only does this e-reader provide you the ability to read and store written literature, but its WiFi capabilities allow you to download and listen to audio books and surf the Internet." What feature-benefit is the salesperson communicating to the customer? A. Construction and materials C. Durability B. Product uses D. Appearance and style

B

According to Maslow's Hierarchy of Needs, which of the following needs is satisfied when a person purchases products that meet his/her most basic needs: A. Esteem C. Safety B. Physiological D. Social

B

Accounting computer software programs increase the efficiency of accounting activities because they are used to A. track payroll activities and develop annual reports. B. create invoices and record customer payments. C. monitor market share and summarize accounts payable data. D. organize tax records and produce presentations.

B

After The IWP Company receives online orders from its customers, it quickly replies to all of its customers with the following email message: "Thank you for your order. It will be processed within the next 48 hours." The email function that generates these types of messages is called a(n) A. instant message. B. autoresponder. C. mechanical reaction. D. timed reply

B

Alexandria has been using Look-So-Good cosmetics for several years and would not consider changing brands. In fact, Alexandria likes the cosmetics so much that she has become an advocate for the cosmetic company. She tells everyone about the features and benefits of Look-So-Good products, and encourages them to try the cosmetics. What type of word-of-mouth marketing is Alexandria using? A. Mobile marketing C. Shill marketing B. Organic marketing D. Virtual marketing

B

An apartment building is an example of a(n) __________ investment. A. lending C. realistic B. ownership D. domestic

B

An employer may be liable for an employee's tort when the employee's actions occur A. under emotional stress. C. within normal operating hours. B. within the scope of his/her employment. D. without the employer's knowledge.

B

An example of governmental change would be a change in A. a person's occupation. C. the price of goods. B. highway speed limits. D. the use of automation.

B

An individual who lives by an established set of personal ethics is said to have A. apathy. C. bravery. B. integrity. D. intelligence.

B

As a result of ongoing product updates and changes, businesses must address ethical issues associated with A. international markets. B. planned obsolescence. C. demographics. D. taxation.

B

Because Carlos considered the vehicle's reliability ratings, gas-mileage savings, and warranty before he decided to purchase his new car, his motives were based on A. his loyalty to the brand. C. his desire for status. B. facts. D. intuition.

B

Because the company's president was impressed with Ed's willingness to accept additional tasks and carry them out without a lot of direction, s/he promoted Ed to a management position. What personal trait does Ed possess that helped him advance in his career? A. Courage C. Self-confidence B. Initiative D. Self-control

B

Before sending a professional e-mail message to a business associate, a businessperson should A. code the message's importance as "high priority." B. proofread the message for spelling and grammatical errors. C. make sure that the message is typed in capital letters. D. insert a vague statement in the message subject line

B

Ben recently purchased a cellular telephone. The manufacturer provided a form and a special code with the telephone's packaging. Ben completed the form, copied his sales receipt, and mailed these items back to the manufacturer along with the part of the packaging that contained the special code. Within six weeks, Ben received a $50 check from the telephone manufacturer. What type of sales-promotion technique was used? A. Coupon C. Sweepstakes B. Rebate D. Warranty

B

Businesses are affected by social factors in the external environment because A. every business creates consumer products. B. customer needs are affected by these factors as well. C. a business cannot survive without social networking. D. customers no longer value quality.

B

Businesses can retrieve external marketing data by accessing A. computer-generated sales reports. C. accounts receivable summaries. B. web-based information services. D. inventory management records.

B

By continuously monitoring internal marketing information, a business is often able to A. investigate competitors. C. evaluate market share. B. identify problems. D. analyze economic changes.

B

Companies A, B, and C sell similar products. Together, they recently decided to sell their products for the same price. In what unethical activity are the businesses engaging? A. Bait-and-switch C. Loss-leader pricing B. Price fixing D. Gray markets

B

Computer manufacturers sell their products through retailers, such as Best Buy. This is an example of the __________ function of marketing. A. promotion B. channel management C. pricing D. product/service management

B

Determine if the following statement is true or false: The primary purpose of quality-control measures is to evaluate employee efficiency levels. A. False—the primary purpose of quality-control measures is to evaluate the degree of excellence of goods and services. B. False—businesses also use quality-control measures to evaluate products, processes, and other business functions. C. True—businesses must evaluate their employees' performance to ensure that they are producing high-quality goods and services. D. True—employees perform the work, so they are responsible for developing and implementing product-quality measures.

B

During a staff meeting, the sales manager said, "I want to take a moment to thank Sophie for coordinating the behind-the-scenes efforts that have helped us land the Grisham account. I really appreciate her contribution to the company." What type of motivation is the sales manager providing Sophie? A. Award-based incentive C. Improvement feedback B. Performance recognition D. Feed-forward input

B

During lunch in the company's cafeteria, McKenzie overheard her coworker, Abby tell Kyle that she has a job interview with another firm next week. To respect Abby's privacy, McKenzie should A. drop vague hints to her supervisor that Abby is unhappy and looking for another job. B. keep the information to herself and not say anything to anyone. C. promise Kyle that she will not tell anyone about his conversation with Abby. D. tell Abby that she overheard the conversation, and assure Abby that her secret is safe.

B

Ebony is creating her résumé to send to potential employers. Which of the following should Ebony do when describing her work experience: A. List the technical training that she has received B. Briefly describe her previous job responsibilities C. Clearly explain her work interests and career goals D. Provide her complete address and telephone information

B

Effective note-taking involves summarizing key concepts in ways that A. reflect proper punctuation and grammar. C. make sense to the speaker. B. are meaningful to the note-taker. D. include personal opinion and bias.

B

Employees can reinforce their company's positive image by A. developing a broad product/service mix. B. delivering on the company's brand promise. C. sharing its intellectual property with competitors. D. advocating prestige pricing and price skimming.

B

Employees who are unable to manage their time effectively often experience A. decreased pressure. B. increased stress. C. increased self-esteem. D. decreased tension.

B

Ensuring that customers have the correct perception of a product is one of the goals of product A. development. B. positioning. C. management. D. screening

B

Giving customers a list of locations at which they can obtain repair or replacement as part of a warranty or guarantee provides the customer benefit of A. increased profits. B. service information. C. legal recourse. D. reduced anxiety about purchases.

B

Governments that have passed "do not call" laws are restricting promotional activities related to A. contests. B. telemarketing. C. Internet downloads. D. direct mail.

B

How can a business build its customers' trust and communicate its commitment to ethical practices? A. Develop liberal business policies B. Publish its confidentiality statement C. Hire employees who have a positive attitude D. Post its earnings on its website

B

How food products can be used generally is determined by their A. traits. B. grades. C. labels. D. brands.

B

In its marketing plan, ROKE Athletic Shoes states that it wants to increase its market share for 25- to 40- year-old professional females by six percent in the next eight months. ROKE's marketing objective is related to A. changes in market delivery. C. product. B. its target market. D. promotion.

B

In relation to career success, it important for individuals to assess their strengths and weaknesses so they can A. change their personalities. C. improve their relationships with friends. B. apply their talents where they are best used. D. eliminate conflict.

B

In the past several years, Jenny noticed that many younger people have moved from her town to larger cities and that a large segment of the town's citizens are reaching retirement age. Jenny realized a need for a variety of home-health care services for the town's senior citizens. What factor presented Jenny with this product opportunity? A. Personal attitudes C. Geographic limitations B. Demographic changes D. Economic resources

B

Jason is a salesperson who has just landed an appointment with a prospective client who has the potential to provide Jason's company with a lot of business. Jason wants to make sure he is well prepared for his meeting and presentation, so he decides that he needs to obtain information about the client. How can Jason quickly and effectively use technology to learn about the prospective client's business? A. Telephone the prospective client's vendors B. Review the prospective client's web site C. Access the prospective client's Intranet D. Send e-mail inquires to the prospective client's employees

B

Julianne is going to a chamber-of-commerce luncheon where she will meet several important business leaders in her community. What is the most appropriate clothing for Julianne to wear? A. Colorful blouse, short skirt, and sandals B. Dark pantsuit, blouse, and low-heel shoes C. Casual pants, long-sleeve t-shirt, and athletic shoes D. Black, sequin dress; short jacket; and high-heel shoes

B

Kevin is a salesperson for the Branson Company. A customer asks Kevin for specific warranty information about a new product that Branson recently started selling. Which of the following is the quickest, most reliable source for Kevin to use to obtain the desired information: A. Customers who already own the product C. Branson's newspaper advertisement B. The manufacturer's product literature D. The display model of the product

B

Long-term unemployment may affect an individual by A. improving mental health. B. eroding his/her skills. C. increasing protectionism. D. building savings.

B

Many presentation software programs allow users to A. copyright their graphics. B. include voice narration. C. calculate numerical data. D. analyze organizational progress.

B

Molly offers to take her new coworker out to lunch. She remembers what it was like when she was a new employee two years ago, and she wants to help her new coworker feel comfortable and welcome. What trait is Molly showing towards her new coworker? A. Tact B. Empathy C. Sympathy D. Judgment

B

One advantage of using the Internet for promotional purposes is that A. consumer privacy is secure. C. it can reach less affluent markets. B. information is available on demand. D. businesses don't need to target markets.

B

One aspect of coordinating channel management with pricing activities involves A. implementing accounting policies. B. setting appropriate prices. C. earning high profits. D. developing product standards.

B

One of the disadvantages of using nonverbal communication is that it A. is not a common form of communication. C. is not considered courteous. B. may not be interpreted accurately. D. may not be noticed by the listener.

B

One of the first steps a business takes in developing a promotional plan is to A. design the advertising message. C. prepare an expense budget. B. identify the target market. D. evaluate the feedback.

B

One of the most important aspects of project management involves A. training employees. B. setting goals. C. buying supplies. D. identifying mistakes.

B

One way that the use of technology benefits the operations process is by A. automating the work force. C. developing a robotics plan. B. computerizing the purchasing function. D. organizing a conveyor system.

B

One way to provide good customer service is to have sufficient inventory available when the customers A. request product specifications. C. return samples. B. place their orders. D. submit a quotation request.

B

Research and development speed up production by A. providing employees with adequate job training. B. simplifying existing products. C. limiting inflation. D. reviewing company goals with employees.

B

Simon wants to know how well his company did last quarter in relation to other companies in its industry. He needs to conduct a A. sales volume analysis. B. market share analysis. C. SWOT analysis. D. customer analysis.

B

Text that continues or clarifies the thought expressed in the print ad's headline is referred to as the A. tag line. B. subhead. C. identification. D. white space.

B

The assortment of merchandise that a firm sells is called its product A. demand. B. mix. C. depth. D. classification.

B

The difference between service providers' and manufacturers' operations activities is that service providers produce __________ outputs. A. expensive B. intangible C. useful D. tangible

B

The following appeared on a recent survey: "Do you agree that the government wastes taxpayers' money by supporting unnecessary programs?" This is an example of a(n) A. indifferent statement. B. leading question. C. open-ended inquiry. D. unstated alternative.

B

The main reason many individuals resist change is A. decisiveness. B. fear. C. discipline. D. self-confidence.

B

The main reason that a sportswear retailer decided to use direct-mail promotion was because it would reach the store's A. current customers. B. target market. C. former employees. D. local competitors.

B

The office photocopier is jammed again! Fortunately, there is an instruction manual to guide you through the process of removing the jammed paper. What is the best way to use the manual to clear the photocopier? A. Read the entire manual in sequential order and then perform all of the steps in reverse order to remove the jammed paper. B. Read step one and then perform step one. Repeat this process in sequential order until all of the steps are completed and you have removed the paper. C. Briefly skim the manual in reverse order and then follow the steps in sequential order to remove the jammed paper. D. Perform the first step, and then verify that you have performed it correctly in the manual. Repeat this process in sequential order until all the steps are completed.

B

The primary reason for developing a marketing-research brief is to A. summarize the raw data. C. identify changes in the marketplace. B. clarify the purpose of the research. D. explain the survey's rating scale.

B

To determine the types of information that the business needs to operate, it is often beneficial to A. upgrade the computer network. C. develop a production schedule. B. obtain employees' input. D. revise business's goals.

B

To evaluate an Internet source, what aspect would you consider when assessing whether its information is clearly laid out so that it is easy to read? A. Relevance B. Presentation C. Objectivity D. Timeliness

B

To identify product opportunities, Corrine tries to make connections between two unrelated items, which is an example of A. idea testing. C. decision making. B. creative thinking. D. problem solving.

B

Trade publications are used by businesses for which of the following reasons: A. To determine quantities to buy B. To obtain up-to-date information C. To set up an operating budget D. To appeal to the general public

B

What does a businessperson need to do when preparing for an upcoming negotiation? A. Develop a strategy that avoids conflict C. Embrace an all or nothing attitude B. Analyze the other person's position D. Adopt an aggressive negotiating style

B

What form of technology are salespeople using that eliminates the need to carry a laptop and personal data assistant while making sales calls? A. Pager C. Micro kiosk B. Smartphone D. Router

B

What interactive communication channel do businesses use to share company information with their various publics? A. Faxes C. Publications B. Blogs D. DVDs

B

What is the benefit of clearly stating a research problem or issue? A. It determines the sample size needed for the marketing research project. B. It helps to keep marketing research focused and relevant. C. It determines the findings of the marketing research project. D. It helps the researcher to determine whether a short- or long-term study is needed.

B

What is the importance of the computer hard drive in a computer system? A. It facilitates the computer's audio transmissions. B. It permanently stores the computer program files and data. C. It allows the user to view the computer data. D. It transmits power to other computer devices.

B

What is the term for higher levels of output resulting from putting more workers on the job? A. Return on revenue C. Return on input B. Increasing returns D. Marginal returns

B

What is true about personal vision? A. Realistic visions are based on mission statements. B. Good visions have permanent results. C. Specific goals are necessary to determine your vision. D. Achievable visions are time bound.

B

What might employees read in order to learn about new trends and technology in a specific industry? A. News magazine C. Annual report B. Trade journal D. Daily newspaper

B

What presentation software function allows the user to move and change the order of existing slides? A. Transition C. Promote paragraph B. Slide sorter D. Note master

B

What technology is the most effective way to interview a job applicant who is located 1,500 miles away from the company's corporate office? A. Text messaging B. Videoconferencing C. Web-based email D. Intranet

B

What type of law prevents salespeople from one company from interfering with their competitions' activities? A. Product safety B. Unfair trade C. Consumer credit D. Warranty liability

B

What type of marketing data can a business obtain by reviewing its inventory reports and customers' invoices? A. Customers' credit limits C. Product quality B. Customers' product preferences D. Actual market share

B

What type of unethical advertising is being used when a television commercial convinces consumers that they can avoid serious illness by using a particular product? A. Stereotyping C. Gender bias B. Fear-based D. Puffery

B

When Armand is comparing his checkbook balance with his bank statement, he must make sure that he has subtracted the ____________ from his checkbook. A. accumulated interest B. transaction fees C. payroll deposits D. check numbers

B

When a company's promotional activities focus on pointing out differences between its well-established product and competing products, the product is in the __________ stage of its life cycle. A. growth C. declining B. maturity D. introductory

B

When a customer brought back a coffee maker without a sales receipt, Tallman's department store applied the current selling price of the item to a gift card for the customer to use in the store. This is an example of a(n) ___________ policy. A. discount C. terms-of-sale B. return D. guarantee

B

When an agent legally acts in the best interests of his/her client, the agent is establishing a(n) __________ relationship. A. authoritative B. fiduciary C. principal D. legislative

B

When businesses want to make their products available to customers but do not want to over-distribute their goods and services, they are seeking A. exclusive marketing channels. B. ideal market exposure. C. direct distribution capabilities. D. intense segment coverage.

B

When managing a project, the first activity is for the project leader to A. develop a schedule. B. set goals. C. negotiate terms. D. monitor progress.

B

When positioning a corporate brand, what is a marketer trying to determine by comparing the company's own product attributes with those of the competition? A. Causes of risk C. Areas of concern B. Points of difference D. Frames of reference

B

When positioning its corporate brand, it is important for a company to evaluate its competitors so it can determine A. profit margins. C. managerial styles. B. points of difference. D. support services.

B

When the meeting leader asked the group participants if they had any suggestions for the new product catalog, Lily pulled out a list of notes that she had compiled and talked for the remaining 20 minutes of an hour-long meeting. In this situation, Lily A. provided positive feedback. B. monopolized the discussion. C. followed parliamentary procedure. D. expressed her opinions clearly.

B

Which is the most effective way for an employee to communicate interest in providing good service to customers? A. Informal product demonstration B. Body language C. Social status D. Closing statements

B

Which of the following are internal factors that affect the way a business uses promotional tools: A. Price and competition C. Demand and product B. Product and price D. Place and demand

B

Which of the following are touch points that a successful company often uses to communicate its corporate brand to its target market: A. Employees, sales staff, and compensation policies B. Company web site, sales calls, and trade shows C. Trade shows, sales reports, and employees D. Sales calls, company web site, and marketing audits

B

Which of the following financial services providers is most likely to provide a small, local coffee shop with business loans, checking and savings accounts, and overdraft protection: A. Eastern Region Investment Bank B. Marley and Winston Commercial Bank C. Walker, Steinbrenner, and Houghton, CPA Firm D. Allen and Mellon Brokerage Firm

B

Which of the following is a benefit of channels of distribution: A. Producers must spend more money. B. We can more easily obtain products from all over the world. C. Retailers must spend more money. D. We spend more time looking for products we want.

B

Which of the following is a characteristic of private enterprise that enables consumers to buy quality products at fair prices: A. Unlimited resources B. Competition C. Inflation D. Profit motive

B

Which of the following is a characteristic of the machine bureaucracy organizational structure: A. Decentralized decision making C. Project-team orientation B. Specialization by work task D. Resource sharing

B

Which of the following is a decision a company might make during the decline stage of the product life cycle: A. How to increase awareness of the product B. Whether to change the product C. How to fend off the competition D. What production schedule to follow

B

Which of the following is a disadvantage of weak currency: A. It reduces business profits. B. It makes acquiring foreign companies more expensive. C. It negatively affects the balance of trade. D. It makes buying imports less expensive.

B

Which of the following is a factor that affects selling policies over which a business has no control: A. Price of goods/services C. Quality of suppliers B. Availability of raw materials D. Number of employees

B

Which of the following is a legal factor that may affect the business environment: A. Market trends C. International tensions B. Wage regulations D. Interest rates

B

Which of the following is a technique that a business might use to evaluate the results of a project it completes for a customer: A. Analyze the project proposal C. Organize the management team B. Prepare a satisfaction survey D. Determine the contract criteria

B

Which of the following is a true statement regarding how economic conditions may affect a business's sales forecast: A. Economic conditions have very little impact on sales forecasts. B. A poor economy will hurt sales for some businesses but will help others. C. A poor economy will decrease sales for all types of businesses. D. A strong economy will increase sales for all types of businesses.

B

Which of the following is a true statement regarding information management: A. It's used primarily for decision making. B. It's necessary for making even small business decisions. C. It's the same thing as MIS. D. It's the same thing as data processing.

B

Which of the following is a type of simple written report that usually is distributed to employees within a business: A. Proposal C. Handbook B. Memorandum D. Newsletter

B

Which of the following is an advantage of secondary research: A. It is specific to the research needs. C. It is up to date. B. It is quick. D. It gives marketers control of the study.

B

Which of the following is an example of a business that is most likely violating a safety regulation: A. Porter Manufacturing inspects its production equipment several times a month. B. The Hoffman Supply Company blocks several of its doors with furniture and boxes. C. Ingram Industries stores its combustible products in well-marked storage containers. D. A manager monitors the restaurant to ensure that no more than 200 patrons are in the building.

B

Which of the following is an example of a payroll deduction: A. Overtime hours C. Net pay B. Health insurance D. Pay rate

B

Which of the following is an example of a potentially unethical action associated with providing business information: A. Using passwords to limit employees' access to various types of business files B. Discussing specific product-development processes with external business sources C. Providing employees with information about business practices and expectations D. Implementing whistle-blowing procedures to report questionable workplace behavior

B

Which of the following is an example of a purchase experience touchpoint: A. Word-of-mouth B. Direct sales C. Customer satisfaction surveys D. Warranty programs

B

Which of the following is an example of a simple written report that a business might prepare on a regular basis: A. Results of a research study B. Minutes of a staff meeting C. Findings of a major investigation D. Analysis of a publicity campaign

B

Which of the following is an example of a tax that government collects from some businesses: A. Subsidy B. Excise C. Bond D. Discount

B

Which of the following is an example of an effective subject line for a professional email: A. New product information B. Mtg. rescheduled for 3 p.m. C. One more thing . . . D. Can we talk for a minute?

B

Which of the following is an example of an employee using nonverbal communication effectively to reinforce his/her service orientation: A. When Mrs. Jones complained that her steak was not cooked the way she wanted it, Leah rolled her eyes. B. Molly nodded and maintained eye contact as Ms. West explained the problem with her computer. C. Tristan answered his office telephone and said, "Blanton Industries. How can I help you?" D. Paul crossed his arms and tapped his foot impatiently as Mr. Cook asked about a charge on his bank statement.

B

Which of the following is an example of how building a clientele benefits the business: A. Increased selling costs B. Increased sales volume C. Increased knowledge D. Personal satisfaction

B

Which of the following is often a factor that a business considers when evaluating a vendor's performance: A. Business plan C. Invoice number B. Order accuracy D. Accounting methods

B

Which of the following is one element of a situation analysis: A. Marketing planning B. Environmental scanning C. Sales positioning D. Organizational testing

B

Which of the following is the component of a questionnaire that guides respondents through the survey process: A. Leading questions C. Flow chart B. Instructions D. Coding box

B

Which of the following levels of managers spend most of their time staffing, directing, and controlling the day-to-day activities of the business: A. Mid-level C. Executive B. First-line D. Regional

B

Which of the following often makes it difficult for small manufacturers that have limited budgets to receive an equal opportunity to distribute their new products: A. Gray marketing B. Slotting allowances C. Channel strategies D. Targeted advertising

B

Which of the following questions is worded appropriately to ensure the researcher obtains valid responses? A. Where did you buy your computer equipment and software? B. What, if anything, did you like best about the last computer you purchased? C. What did you like best about your last computer purchase? D. Would you buy a computer at a store surrounded by other stores and lots of traffic?

B

Which of the following should you do when preparing your letter of application: A. Write a letter that is at least one page long. B. Mention any mutual contacts you have. C. Repeat everything that is on your résumé. D. Proofread quickly so you can send the letter sooner.

B

Which of the following situations is an example of a public-relations activity: A. Evan coordinates an upcoming sales promotion with the company's purchasing manager. B. Jana prepares a press release about her firm's new licensing agreement with a large company. C. Colleen telephones a prospective customer to try to schedule a product demonstration. D. Eli reviews a report to determine which clients have overdue payments due on their accounts.

B

Which of the following statements is true about express contracts: A. They are enforceable when one party is underage. B. They are stated orally or in writing. C. They are usually unilateral agreements. D. They are enforceable if the promises are illegal.

B

Which of the following workplace-related safety and health issues would most likely be regulated by law: A. Weight-management programs C. Smoking cessation support groups B. Storage and disposal of chemicals D. Health education information sessions

B

While facilitating a brainstorming session to generate product ideas, Gavin told Amy that her idea would be too expensive to implement. What did Gavin do wrong while facilitating the brainstorming session? A. Ignoring a group member B. Evaluating the idea C. Asking for opinions D. Exceeding the time limit

B

Who is responsible for carrying out the tactics to achieve a business's marketing strategies? A. Customers C. Executives B. Employees D. Stockholders

B

Why do human-resource managers often post job openings on web sites such as Monster.com and CareerBuilder.com? A. To interview applicants C. To identify needed skills B. To recruit employees D. To assess training methods

B

Why is it important for a business to clearly communicate its budget to employees? A. So employees know when they should work overtime B. So employees are aware of their effect on the business's profits C. Because the business is legally required to disclose financial information D. Because employees need to know when they need to adjust the budget

B

Why is it important to build in a safety net, or padding, when identifying resources? A. To try to cut corners C. To find substitutes B. To plan for the unexpected D. To obtain financial support

B

Why is it sometimes difficult to be honest about strengths? A. No one likes to recognize strengths. B. We don't want to brag. C. Weaknesses are more significant than strengths. D. Few people have strengths.

B

A basic principle of procedural due process involves __________ before taking action. A. awarding damages B. obtaining witnesses C. providing notice D. creating evidence

C

A business determines that it can increase its market share 12 percent by promoting its goods and services to Hispanic females who are 18- to 34-years old. The business is segmenting the market on the basis of A. geographics. C. demographics. B. psychographics. D. behavior.

C

A characteristic of effective prices is that they must be A. high. B. inflexible. C. competitive. D. low.

C

A company wants to collect information from various sources to determine if it should consider expanding to international markets. What research method should the company use, if it does not want to spend a lot of time or money to obtain the information? A. Interview C. Exploratory B. Causal D. Experimental

C

A customer complains that an item purchased last week does not fit properly. The real reason for returning the item is that it is too expensive. This is an example of a __________ complaint. A. service B. sincere C. hidden D. business

C

A customer has purchased an item from you and is now faced with carrying six packages. You can use a practical idea to create positive customer relations by A. wishing the customer luck in carrying all the packages. B. thanking the customer for making so many purchases. C. offering to place all the packages in one large bag. D. complimenting the customer for getting a lot accomplished.

C

A decrease in the availability of raw materials is an economic risk that may result in __________ for a business. A. high interest rates B. increased regulation C. financial loss D. lower turnover

C

A focus on how things are done, rather than just outcomes, is known as A. continual improvement. B. lean production. C. process orientation. D. concurrent engineering.

C

A good way to prioritize your financial goals is to A. rank every goal in numerical order. B. rank goals according to what needs to be done first. C. assign each goal to a general category. D. recognize that all the goals are equally important.

C

A local hardware store purchased a large shipment of snow shovels in November in order to prepare for winter weather. The hardware store is helping to create __________ utility. A. form B. place C. time D. possession

C

A manufacturer that decides to sell directly to large retailers rather than through wholesalers might create __________ conflict within its distribution channel. A. formal B. horizontal C. vertical D. conventional

C

A manufacturer that has 65% of the market share is pressuring its wholesalers to sign an agreement stating that they will not sell competing products. In this situation, the agreement is illegal because it A. controls resale prices. B. prohibits monopolies. C. violates antitrust laws. D. limits producers' rights.

C

A manufacturer that has 65% of the market share is pressuring its wholesalers to sign an agreement stating that they will not sell competing products. In this situation, the agreement is illegal because it A. controls resale prices. C. violates antitrust laws. B. prohibits monopolies. D. limits producers' rights.

C

A pharmaceutical company fails to warn the public about the possible side effects associated with a new medication. This is an example of a business violating selling regulations through A. branding. C. misrepresentation. B. exaggeration. D. exclusivity.

C

A primary factor that a business considers when deciding to participate in a trade show is the A. business's inventory levels. C. number of expected visitors. B. business's operating policies. D. cost of the concessions.

C

A primary reason that employers often consider hiring a person with internship experience is because it implies that the applicant possesses A. a well-rounded educational background. C. traits such as initiative and commitment. B. the ability to work with financial data. D. a network of prospective sales contacts.

C

A primary role of the facilitator in a group brainstorming session that is generating product ideas is to A. lead the debate. C. encourage participation. B. evaluate each idea. D. improve relationships.

C

A responsible employee is one who is able to __________ his/her mistakes. A. conceal B. avoid C. admit D. maximize

C

A retailer that overcharges customers for small items at the point of purchase may be engaging in the unethical practice of A. retail price maintenance. B. predatory pricing. C. scanner fraud. D. price fixing.

C

A salesperson says to a customer, "Mr. Michaels, I wouldn't buy from Davenport Electronics. That company buys parts for its products from sweatshops, and the items don't meet safety codes. Its products usually break within six months." In many jurisdictions, the salesperson is violating selling regulations related to A. foreign corruption. C. business defamation. B. price discrimination. D. product infringement.

C

About a week before her 16th birthday, Kimberly got a phone call from her grandparents. They explained that they wanted to give her $1,000 to put toward college expenses as a birthday present, but they weren't sure if she wanted the money now or in two years, when she would be starting college. Kimberly decided to get the $1,000 from her grandparents right away and put it into an interest-bearing savings account for two years. Kimberly based her decision on A. the capital gains potential. B. the concept of absolute advantage. C. the time value of money. D. foreign exchange rate.

C

According to Maslow's Hierarchy of Needs Theory, buying behavior that involves the acquisition of goods and services to elevate a person's status or recognition are _____________ needs. A. self-actualization C. esteem B. physiological D. safety

C

According to the Keynesian theory of unemployment, the best solution for unemployment is to A. keep prices the same. B. cut wages. C. increase demand. D. increase inflation.

C

After The IWP Company receives online orders from its customers, it quickly replies to all of its customers with the following e-mail message: "Thank you for your order. It will be processed within the next 48 hours." The e-mail function that generates these types of messages is called a(n) A. mechanical reaction. C. autoresponder. B. instant message. D. timed reply.

C

Alexandria has been using Look-So-Good cosmetics for several years and would not consider changing brands. In fact, Alexandria likes the cosmetics so much that she has become an advocate for the cosmetic company. She tells everyone about the features and benefits of Look-So-Good products, and encourages them to try the cosmetics. What type of word-of-mouth marketing is Alexandria using? A. Shill marketing B. Mobile marketing C. Organic marketing D. Virtual marketing

C

Alexandria has been using Look-So-Good cosmetics for several years and would not consider changing brands. In fact, Alexandria likes the cosmetics so much that she has become an advocate for the cosmetic company. She tells everyone about the features and benefits of Look-So-Good products, and encourages them to try the cosmetics. What type of word-of-mouth marketing is Alexandria using? A. Shill marketing C. Organic marketing B. Mobile marketing D. Virtual marketing

C

An electronic data interchange (EDI) system facilitates a company's ability to A. test product quality. C. manage product availability. B. improve product durability. D. develop new products.

C

An employer may be liable for an employee's tort when the employee's actions occur A. within normal operating hours. C. within the scope of his/her employment. B. under emotional stress. D. without the employer's knowledge

C

An example of a natural resource is A. an electrician. B. physical ability. C. iron ore. D. office equipment.

C

An individual returns a marketing-research survey that contains unanswered questions. This is an example of a(n) A. mathematical miscalculation. C. non-response error. B. interviewer oversight. D. rating mistake.

C

As an employee of Simpson and Associates, Kevin performs a variety of activities each day, sets his own work pace, and has the authority to make many business decisions. Kevin's job involves __________ scope and __________ depth. A. low, high C. high, high B. high, low D. low, low

C

Asking questions is important because it A. helps you become a passive participant in the conversation. B. gives you a chance to voice your opinion. C. can clear up misunderstandings. D. helps your brain process speech more quickly.

C

Because Caroline does not have enough time to read an entire 400-page business report, what section of the report should she review to obtain an overview of the most important content? A. Appendices B. Table of contents C. Executive summary D. Conclusions

C

Brix Beauty Salon used a celebrity's name and photograph in a recent newspaper advertisement, even though the celebrity had not given Brix permission to use her name and likeness. What tort did Brix Beauty Salon commit? A. Defamation B. Wrongful interference C. Appropriation D. Conversion

C

Business employees who participate in group discussions should present their ideas and opinions in a(n) A. argumentative way. C. assertive manner. B. written format. D. nonverbal style.

C

Businesses should view negotiation as a way to A. get the action they want. B. get something done. C. build strong relationships. D. keep negative people quiet.

C

By reading trade journals, business professionals can learn about A. internal policies. B. corporate changes. C. industry trends. D. organizational sales performance.

C

By searching the company's computer records, an employee obtained confidential information about a well-known client, which s/he discussed with a friend. Eventually, the information was leaked to the media, which embarrassed the client and the business. What action could the company have taken to prevent this unethical behavior? A. Provide clients with information tracking capabilities B. Install anti-virus software to protect the computer network C. Use computer passwords to limit access to certain data D. Require the employee to submit his/her resignation

C

By searching the company's computer records, an employee obtained confidential information about a well-known client, which s/he discussed with a friend. Eventually, the information was leaked to the media, which embarrassed the client and the business. What action could the company have taken to prevent this unethical behavior? A. Provide clients with information-tracking capabilities B. Install anti-virus software to protect the computer network C. Use computer passwords to limit access to certain data D. Require the employee to submit his/her resignation

C

Cindy's lemonade stand sells lemonade to customers. The route that the lemonade is taking from the producer to the final consumer is A. roundabout. B. indirect. C. direct. D. intermediary.

C

Computers have given marketers the ability to calculate pricing functions such as break-even points and elasticity of demand by using __________ programs. A. presentation B. word-processing C. spreadsheet D. communication

C

Duane makes sure that as he is interacting with customers, he is also actively listening so that he can better respond to their questions and objections. Which characteristic of a successful salesperson does Duane display? A. Persistence and patience B. Ethics C. Communication skills D. Education and training

C

During which phase of a product's life cycle do its profit margins tend to narrow? A. Introduction C. Maturity B. Decline D. Growth

C

Each year, Marla must pay a certain percentage of the value of her home to the local government. Which of the following is the tax liability Marla is responsible for paying: A. Sales B. Excise C. Property D. Income

C

Employees' creative suggestions often result in changes that increase ___________ and reduce expenses. A. losses C. efficiency B. conflict D. costs

C

Ethan is a human resources manager who is attending a job fair to discuss employment opportunities with job-fair attendees. This is an example of a ___________ activity. A. sales-promotion C. recruiting B. training D. compliance

C

Even though there is a significant chance that his business will fail, Sidney intends to open a sports memorabilia shop. What entrepreneurial trait is Sidney exhibiting? A. Creativity B. Organization C. Willingness to take risks D. Open-mindedness

C

For legal purposes, a business that collects marketing information from its online customers should A. purchase surge-protection insurance. C. post its privacy policies on its web site. B. develop confidential selling strategies. D. store the information at an insecure site.

C

For most businesses, the ultimate goal of using promotion is to A. control consumer demand. B. introduce new products. C. sell goods or services. D. get people into the business.

C

Holly, Cary, and Rick are working a project together, even though they are geographically far away from each other. They use the Internet to work on documents together, share files, and communicate quickly and easily. What type of software are Holly, Cary, and Rick using? A. Spyware C. Groupware B. Shareware D. Freeware

C

Ideally, in business, feedback should be A. all positive. B. all negative. C. positive and negative. D. avoided if possible

C

If a pharmaceutical company sets an unnecessarily high price for a lifesaving drug, it is behaving in a(n) __________ manner. A. conscientious B. economically justifiable C. socially irresponsible D. charitable

C

If a situation analysis reveals that the company has a comprehensive, current, and flexible database system, it has identified a(n) A. product benefit. B. external asset. C. internal strength. D. technological flaw.

C

In a market economic system, who owns most of the means of production of goods and services? A. Entrepreneurs B. Political parties C. Businesses and individuals D. Government

C

Indirect channels of distribution are the only channels that involve A. producers. B. industrial consumers. C. intermediaries. D. ultimate consumers.

C

Ingrid is able to access information from her desktop publishing software, word-processing software, and spreadsheet software at the same time on her personal computer. This is an example of an operating system with _____________ capabilities. A. multiprocessing C. multitasking B. multi-user D. multithreading

C

Items most likely to be subject to an excise tax include A. apartment buildings and single-family homes. C. gasoline and cigarettes. B. inherited items and luxury cars. D. milk and cheese.

C

Jackie is interested in predicting what special events result in higher demand for chocolate candy. She should conduct behavioral segmentation based on A. benefits derived. B. rate of use. C. occasion response. D. loyalty response.

C

Jacob was nervous about making his valedictorian speech, but when he stood up to walk to the podium, the audience cheered and gave him a standing ovation, which helped him relax and enjoy the moment. What was the audience doing? A. Exhibiting unprofessional behavior B. Mocking the speaker C. Encouraging the speaker D. Engaging in passive listening

C

Janet is a busy advertising executive trying to balance her job, family, and social responsibilities. Four days a week, Janet runs on a treadmill for an hour. After her workouts, Janet feels relaxed and focused. Janet's exercise program helps her manage A. time. C. stress. B. goals. D. work.

C

John recently expanded his business into another country to reach more of his target market. He was initially thrilled with his company's profits following the expansion—until he converted the money back to his domestic currency. At that point, he realized that the company made much less than he originally thought. What risk involved with international business did John experience? A. Political unrest in foreign countries B. International trade agreement changes C. Foreign exchange rate fluctuations D. The cost of international unionized labor

C

Knowing your personal strengths and weaknesses helps you to A. ask others for input about your strengths and abilities. B. identify potential strengths and weaknesses in others. C. make informed decisions about your future. D. perform well on a skills assessment test.

C

Mara, a marketing researcher, watches customers as they shop for products and writes down her impressions of the customers' behaviors. Mara is gathering _________ data by _________. A. secondary, relating C. primary, observing B. primary, interviewing D. secondary, surveying

C

Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. Which of the following describes the quantity that Marcy is prepared to buy: A. Supply B. Elasticity C. Demand D. Market price

C

Matthew and Miranda are equal partners in a small consulting firm. They have allocated eight percent of last year's profits to make business improvements. Matthew wants to purchase a new copy machine, while Miranda would rather paint the building and make it look more inviting to their clients. What is the reason for Matthew and Miranda's conflict? A. Inconsistent behavior B. Unclear boundaries C. Limited resources D. Authority

C

Negative word-of-mouth advertising due to unresolved customer complaints can cost a business its A. facilities. B. employees. C. reputation. D. licenses.

C

One of the advantages of discussing career opportunities with employees in specific fields is that you often obtain information about A. placement services. C. job requirements. B. referral programs. D. industry statistics.

C

One of the basic risks in marketing is the possibility of __________ loss. A. impersonal B. political C. financial D. promotional

C

One of the benefits of negative feedback is that it A. keeps you from making mistakes. C. lets you know what is expected of you. B. tells you what you are doing right. D. makes you feel good about yourself.

C

One of the best ways to protect yourself against identity theft is to A. use the same password for all online financial accounts. B. pay your bills online. C. monitor your credit and bank accounts continuously. D. pay for your purchases with debit cards.

C

One of the freedoms provided to individuals by the private enterprise system is the freedom to choose A. which taxes they will pay. B. how their employers pay them. C. where they will work. D. which laws they will obey.

C

One reason why human resources management is important to the success of a business is because this process is responsible for A. creating jobs for the company. B. eliminating turnover. C. staffing the business. D. reducing compensation.

C

One way for businesses to obtain needed information efficiently is to A. read a book. B. schedule an interview. C. access a database. D. contact a competitor.

C

One way that a manufacturer can foster positive relationships with its channel members is by A. selling directly to end users. C. providing training programs. B. encouraging a competitive culture. D. using aggressive tactics.

C

One way that a salesperson can provide customer service after a sale has been made is by A. using suggestion selling techniques to increase the order size. B. acquiring knowledge about competitors' products. C. ensuring that the order is processed correctly. D. providing samples so the customer can try the product.

C

One way to demonstrate active listening is by A. focusing your attention on distractions. B. interrupting the speaker to ask questions. C. taking steps to minimize barriers. D. concentrating only on the points that you want to hear.

C

Out of 25 survey respondents, 16 people rate a product's durability at five on a rating scale ranging from one to seven. What measure of central tendency does the number five represent? A. Disbursement B. Median C. Mode D. Deviation

C

People with a positive attitude are open-minded, which helps them to A. develop patience. B. remain cheerful. C. learn new skills. D. be intolerant.

C

Price fixing is unethical because it restricts A. tariffs. C. competition. B. loss leaders. D. unit pricing.

C

Product bundling is an effective method to sell goods and services because it A. provides new products with better exposure than advertising. B. allows businesses to sell unrelated items at the same time. C. creates a sense of value for the customer. D. encourages customers to comparison shop.

C

Real market opportunity occurs when A. supply exceeds demand. B. entrepreneurs brainstorm ideas. C. an identified want exists. D. a good or service can be produced efficiently.

C

Shelly is a union member who has been having problems with management. Shelly should report her problems to her union's A. mediator. B. president. C. steward. D. arbitrator.

C

Size, weight, condition, and quality are often factors that government agencies consider when they A. enforce safety policies. C. assign product grades. B. establish cost standards. D. review inventory systems.

C

Slotting allowances are an ethical issue that businesses must consider because these types of fees can A. increase customers' choices. C. discourage innovation. B. encourage high tariffs. D. decrease channel reliability.

C

So that customers can make appropriate buying decisions, product labels should contain A. promotional copy. C. accurate information. B. testimonials. D. allowances.

C

Sophie is developing the promotional plan for her company, and is working on the section of the plan that involves forecasting the expenses associated with various promotional activities. What component of the promotional plan is Sophie working on? A. Strategy C. Budget B. Executive summary D. Situation analysis

C

TechnoMedia is attending a regional trade show to introduce its new tablet computer. An effective way for the company to draw traffic to its exhibit booth is by A. placing a sign with the company's name and logo on the exhibit table. B. handing out trade-show programs at the facility's entrance. C. using interactive displays that allow attendees to try the tablet. D. requiring staff to wear name badges that have a picture of the tablet on them.

C

The promoters of the annual Shakespeare Festival include a statement on the back of the event ticket to the effect that they will not be responsible for harm or injury to the ticket holder. The attendees thereby agree to accept liability for their own possible risks by purchasing the ticket. What action is being taken with the risk? A. Retaining it C. Transferring it B. Eliminating it D. Avoiding it

C

The reason businesses usually obtain information is to apply it so that they can A. recruit employees. C. accomplish a task. B. develop a database. D. evaluate a source.

C

The use of electronically bar-coded price tags on goods has increased the A. transportation costs for customers. B. need for businesses to hire additional cashiers. C. number of customer self-checkout stations. D. efficiency levels of pricing software programs.

C

Thomas does not know the answer to Mr. O'Malley's question about a complex product. Which of the following is the best way for Thomas to respond to Mr. O'Malley's inquiry: A. "I'll need to read the product manual before I can answer your question, Mr. O'Malley. I'll get back to you next week." B. "Let me give you the manufacturer's website address. The information is probably available on the product-specifications page." C. "I'm not sure, Mr. O'Malley. My coworker, Reggie, knows a lot about this model. If you can wait a moment, I will have him speak with you." D. "I don't know. We do have a customer who just purchased this model. I'll get Mrs. Thompson's telephone number for you."

C

To build collaborative relationships in the workplace, employees should A. agree with others' opinions. C. be open to new ideas. B. focus on personal goals. D. delegate responsibilities.

C

To develop appealing promotional messages for a target audience, a marketer might build a profile of the typical buyer by considering demographic factors such as A. personalities, lifestyles, and location. C. age, gender, and income. B. lifestyles, attitudes, and income. D. location, attitudes, and age.

C

To gain a competitive advantage, a business carefully selects channel members and trains them to provide customers with superior expertise and service. This business is positioning its products by focusing on A. customization. C. channel differentiation. B. product attributes. D. quality at an exceptional value.

C

To reduce the risk of bribery in selling situations, it is a good idea for businesses to develop A. diversity training manuals. C. entertainment guidelines. B. promotional budgets. D. product delivery policies.

C

True or False: Only express warranties hold up in court. A. False; express warranties must be in writing. B. True; implied warranties cannot be verified. C. False; implied warranties are valid. D. True; only written evidence can be submitted in court.

C

What are salespeople expected to be able to do in order to sell goods and services to customers? A. Arrange displays B. Control expenses C. Answer questions D. Develop brochures

C

What are salespeople expected to be able to do in order to sell goods and services to customers? A. Control expenses B. Arrange displays C. Answer questions D. Develop brochures

C

What can a pharmaceutical manufacturer do to help ensure that its pain reliever and allergy medications are safe for consumer use? A. Include vague product labels B. Price the products competitively C. Use protective packaging D. Display a disclaimer on the package

C

What communication channels is a corporation's public-relations department most likely to use to maintain positive relationships with shareholders? A. News conferences, consumer blogs, and employee manuals B. Press releases, online social networks, and print advertisements C. Newsletters, annual reports, and the company's website D. Policy manuals, commercials, and sponsorships

C

What communication style is most appropriate to use when you are providing a friend with personal advice? A. Judgmental C. Empathic B. Formal D. Businesslike

C

What device helps to ensure that direct-observation research is collected in a neutral way? A. Fax machine B. Global-orientation system C. Video camera D. DVD player

C

What element of the marketing mix involves considerations such as the types of brands that the business carries and the types of support services the business offers? A. Place C. Product B. Price D. Promotion

C

What form of currency is issued by the federal government? A. Corporate bonds B. Brokerage bills C. Paper money D. Certified notes

C

What information is usually best to discuss in person rather than to provide in an employment application? A. Personal references C. Salary requirements B. Job expectations D. Special qualifications

C

What is a business communicating when it positions a product by emphasizing the unique attributes of that product in relation to similar products marketed by competitors? A. Time utility C. Competitive advantage B. Touch points D. Superior quality

C

What is a negative consequence to a business that engages in the unethical practice of price gouging? A. Excessive profits C. Poor image B. High sales D. Weak competition

C

What is one of a coach's most important tasks? A. Accepting change C. Giving feedback B. Caring for others D. Being honest

C

What is one reason that a local business would keep records of all its customer-sales transactions? A. To cancel orders B. To issue rebates C. To handle returns D. To budget expenses

C

What is one reason why businesses write informational messages? A. To analyze sales proposals B. To develop research reports C. To explain new policies D. To obtain positive feedback

C

What is one way businesses use computer technology to obtain information to improve their product/service mix? A. Compiling detailed databases C. Tracking visitors to their websites B. Mailing questionnaires to customers D. Preparing interactive software programs

C

What is the advantage to a business that installs external surveillance cameras in prominent locations around its property? A. Eliminates the need to install alarms C. Discourages attempted burglaries B. Reduces the risk of extortion D. Prevents armed robberies

C

What is the government likely to do, if it determines that a company has engaged in deceptive advertising? A. Increase the company's sales-tax rate B. Imprison the company's chief executive officer C. Require the company to place corrective advertising D. Rewrite the existing advertising copy

C

What is the primary goal of viral marketing? A. Managing B. Staging C. Sharing D. Manipulating

C

What might result if a business's merchandising budget called for purchasing more goods than customers wanted? A. Surplus profit C. Increased costs B. Additional sales D. Expanded market

C

What production activity evaluates products to make sure that the products the business produces meet certain quality standards? A. Form utility B. Automation C. Follow-up D. Standardization

C

What should an employee do when s/he accidentally spills coffee in the tile hallway? A. Tell others about the spill B. Wait for the floor to dry C. Wipe it up immediately D. Leave it for the cleaning crew

C

What should employees who are learning a new skill avoid doing? A. Acting safely B. Following rules C. Taking shortcuts D. Asking questions

C

What should the first section of an executive summary contain? A. A letter of authorization B. A recommended course of action C. A statement of the report's purpose D. An acknowledgement of the report's sponsors

C

What type of information is it acceptable to leave out of a job application? A. Contact information B. Educational background C. Salary requirements D. Professional experience

C

What type of law is violated when a supplier requires intermediaries to enter into tying agreements? A. Zoning C. Antitrust B. Probate D. Infringement

C

What type of software program do businesses use to create text documents? A. Communications B. Web-page editor C. Word processing D. Presentation

C

When a business collects marketing information from its customers, what should it consider about its consumer-privacy laws? A. They relate to health-care data. C. They vary by jurisdiction. B. They apply only to children. D. They are enforceable internationally.

C

When a business sets up a Facebook account to communicate with its existing and potential customers, what technological tool is it using? A. Just-in-time marketing B. Broadcast media C. Social networking D. Affiliate advertising

C

When a local athletic apparel store sells shoes, clothing, and accessories that are designed specifically for runners, it is using ____________ segmentation. A. demographic B. geographic C. psychographic D. rate of usage

C

When a situation analysis reveals that a competitor's market share has steadily increased over the past year, the Franklin Electronics Company has identified an A. internal change. C. external threat. B. internal weakness. D. external strength.

C

When conducting an environmental scan, which of the following is an economic factor that a business should consider: A. Local demographics B. Global trade regulations C. Consumer spending habits D. Restricted sales territories

C

When evaluating the wording of a survey, the editor should make sure that each question contains A. clear, technical terms. C. simple words without jargon. B. impressive but vague language. D. vocabulary with dual meanings.

C

When reaching a consensus by a formal method, why might group members prefer to use questionnaires? A. To make sure that everyone participates C. To remain anonymous B. To keep everyone's answers straight D. To prioritize the participants' responses

C

When the Silvers purchased their new car, the dealership representative sold their contract to another company in exchange for cash. To what type of business would the dealership have sold the Silvers' contract? A. Commercial bank B. Savings and loan association C. Finance company D. Credit union

C

When you have the ability to communicate appropriately with teachers, work supervisors, and family members at different times, you are demonstrating adaptability in situations related to A. resource availability. C. personal interactions. B. unfamiliar conditions. D. planned changes.

C

When you look for supporting evidence in published materials, you are evaluating the A. margin of error. C. credibility of the sources. B. readability of the text. D. timeliness of the content.

C

Which of the following actions by employees might result in additional expense for a business: A. Reporting incidents of shoplifting B. Taking the initiative to find work C. Making personal use of company property D. Giving appropriate discounts to customers

C

Which of the following do businesses often expect employees to make on their own: A. Operating plans B. Policy changes C. Routine decisions D. Personnel choices

C

Which of the following expenses should Charlene categorize as a fixed cost: A. Cost of goods sold B. Delivery charges C. Rent D. Commissions

C

Which of the following is a barrier to effective listening: A. Concentration C. Distractions B. Empathy D. Open-mindedness

C

Which of the following is a circumstance that is most likely to cause interest rates to increase: A. Economic recession C. Tight money supply B. Low inflation D. Consistent investment spending

C

Which of the following is a device that helps to ensure that direct-observation research is collected in a neutral way: A. Fax machine C. Video camera B. Global-orientation system D. Computer-disk player

C

Which of the following is a factor used for grading products: A. Personal recommendations C. Product contents B. Inspection method D. Resource availability

C

Which of the following is a guideline for employees to use in communicating with coworkers: A. Be sure to share rumors and gossip with their coworkers B. Feel free to express their complaints about their jobs C. Think about what they want to say before they say it D. Use a direct approach in speaking to an angry coworker

C

Which of the following is a purpose of the competitive bidding process: A. To attract product champions B. To increase competition for products C. To obtain lower prices from bidders D. To limit the number of vendors to pick from

C

Which of the following is a question that a salesperson is most likely to ask during the reaching closure phase of a sale: A. How can I help you today, Mrs. Watson? B. Will you be using the printer to fax and copy documents? C. Would you like to use your credit card to pay for the camera? D. Would you like me to show you the features of the boat, Mr. Conrad?

C

Which of the following is a source of error in the research process: A. Key summary B. Interview location C. Sample design D. Project purpose

C

Which of the following is a source of primary market research: A. Government publications C. Focus groups B. Search engines D. Industry periodicals

C

Which of the following is a true statement about marketing-research studies: A. Lower level employees should not be involved in marketing-research studies. B. Marketing-research studies should be conducted once per year. C. Each marketing-research study is unique. D. Marketing-research studies are difficult to conduct.

C

Which of the following is a type of financial-services provider: A. Taxation department B. Stock market C. Commercial bank D. Retirement community

C

Which of the following is an activity that is performed by a business's public-relations department: A. Developing job descriptions for employees B. Researching and developing product prototypes C. Coordinating speaking engagements for employees D. Selecting media for print and broadcast advertisements

C

Which of the following is an example of a brand promise: A. Low credit terms are available for qualified customers until January, 2012. B. Leather sofas only $499 this weekend—buy now at Fred's Furniture Warehouse. C. Henderson Photography...uniquely capturing your special moments is our priority. D. For your convenience, four Cup O' Joe locations are open in the greater-metro area.

C

Which of the following is an example of a response error: A. Lydia provides her opinion about a new soft drink during a focus group. B. Jack does not provide his telephone number when he fills out an online survey. C. Rosanna checks two response options for one question on a paper questionnaire. D. Jack pauses for a moment before he answers the interviewer's question.

C

Which of the following is an example of an employee who is meeting his/her employer's expectations: A. Rachel sends a text message to her roommate during a meeting. B. Tom spends the first half hour of the workday chatting with Kate. C. Allison focuses on her work tasks so she can meet her deadlines. D. Calvin tells a customer about his issues with a difficult coworker.

C

Which of the following is an example of unethical selling behavior that directly affects employee-toemployee relationships: A. The sales staff's commissions are lower after a manager restructures the company's sales territories and sets high quotas. B. A buyer awards a major contract to a construction company after the company's vice president gave the buyer Super Bowl tickets. C. To win a departmental sales contest, a salesperson claims to have processed a sales transaction before it has been formalized. D. A salesperson does not want to lose a sale, so s/he withholds information from a prospect after being questioned about the product's performance.

C

Which of the following is an external threat that a company might identify while conducting a situation analysis: A. Increasing GDP C. Rising inflation rate B. Falling interest rates D. Declining unemployment

C

Which of the following is an important component of computer systems: A. Website B. Internet C. Software D. E-commerce

C

Which of the following is available to all people around the world who have access to a computer that has connectivity: A. Extranet B. Intranet C. Internet D. Broadband

C

Which of the following is categorized as owner's equity on a company's balance sheet: A. Inventory B. Accounts receivable C. Retained earnings D. Capital equipment

C

Which of the following is no longer the determining factor in customers' buying decisions for many products: A. Quality C. Price B. Return policies D. Customer service

C

Which of the following is one of the deciding factors in determining whether an item is a consumer or industrial good: A. Price of the purchase C. Who makes the purchase B. How the purchase is made D. When the purchase is made

C

Which of the following is the primary benefit of keeping your personal workspace organized: A. Improved leadership skills C. Higher efficiency B. Better interpersonal skills D. Enhanced collaboration

C

Which of the following may result when products fail to meet government standards: A. Request for additional monies from consumers B. Deletion of labels from products C. Redesign of packaging D. Payments for advertisements to promote a product's problems

C

Which of the following questions does a well-written marketing-research brief answer: A. Can we effectively enter a new market? C. What is the purpose of the research? B. Why are sales decreasing? D. Did we achieve the desired outcome?

C

Which of the following research methods is an appropriate way to gather marketing information when quick responsiveness and low costs are important issues: A. Face-to-face interviews C. Internet survey B. Test marketing D. Field experiment

C

Which of the following situations is an example of SUGGING: A. A salesperson offers a customer the opportunity to try an expensive product free of charge. B. A telemarketer asks a customer if s/he knows anyone who would want to buy a certain product. C. A marketer tells a customer that s/he is conducting research, and then begins a sales pitch. D. A business promotes a product by sending samples to its customers without authorization.

C

Which of the following statements is true regarding joint ventures: A. Large corporations are the only business structures that can benefit from joint ventures. B. Joint ventures are used only when it is necessary to raise a lot of capital. C. Joint venture arrangements are usually short-term relationships. D. An independent attorney must always be consulted before signing a joint venture agreement.

C

Which of the following statements is true regarding the use of group creative-thinking techniques to facilitate the idea-generation process: A. The brainstorming technique usually generates the best ideas. B. Groups are usually more effective when each member uses mind-mapping techniques. C. Group members most often generate new ideas by altering or building upon another idea. D. The Six Thinking Hats technique is generally the most effective idea-generation technique.

C

Why do many businesses develop programs and activities to help reduce employee stress? A. To eliminate conflict C. To maintain productivity B. To encourage creativity D. To exhibit empathy

C

Why is it important to identify sources that provide relevant, valid written material? A. To understand business communication B. To compile a database C. To read useful information D. To prepare a routine message

C

Why will it benefit you to learn as much as possible about a prospective employer before you go for a job interview? A. It ensures that you'll be considered for the job. B. It shows that you do a lot of reading. C. It prepares you to ask good questions. D. It gives you something to discuss during the interview.

C

A business's selling policies are beneficial to customers when they A. maximize profitability and achieve sales goals. B. restrict the salespeople's selling activities. C. provide customers with limited credit options. D. ensure that all customers are treated fairly.

D

A company wants to collect information from various sources to determine if it should consider expanding to international markets. What research method should the company use, if it does not want to spend a lot of time or money to obtain the information? A. Interview B. Causal C. Experimental D. Exploratory

D

A company works with the Red Cross to help with a hurricane relief effort. What goal does this illustrate? A. Improving customer satisfaction C. Expanding B. Developing new products/services D. Supporting a cause

D

A financial planner advises a client to make a high-risk investment. This is an unethical action if the A. client's objective is to avoid tax obligations. B. client asks the financial planner to make the investment. C. financial planner has reviewed the investment terms and conditions. D. financial planner's primary motive is to earn a large commission.

D

A grocery store keeps track of customers' purchases through their loyalty cards. This is an example of A. data encryption. B. illegal data collection. C. data security. D. big data.

D

A jurisdiction's judicial system strives to treat all parties fairly by A. developing contracts. C. interrogating witnesses. B. implementing flexible laws. D. following legal procedure.

D

A local, exclusive business is having a sale. Which of the following advertising media would be most effective in promoting the sale to the business's clientele: A. Out-of-home B. Broadcast C. Magazine D. Direct mail

D

A manufacturer wants to ensure that each product it makes meets certain standards so that customer complaints and product returns will be kept at minimal levels. Meeting this goal depends on the part of operations known as A. inventory management. B. strategic management. C. purchasing. D. quality control.

D

A message which is as short and to the point as possible is referred to as A. complete. B. courteous. C. correct. D. concise.

D

A pharmaceutical company fails to warn the public about the possible side effects associated with a new medication. This is an example of a business violating selling regulations through A. exclusivity. B. exaggeration. C. branding. D. misrepresentation.

D

A positive political tactic to use to influence organizational decision making often involves A. encouraging workplace competitiveness. C. associating with cynical coworkers. B. taking credit for others' work. D. developing a support base.

D

A primary advantage of using internal databases to store marketing information is the ability to A. prepare formal sales presentations for customers. B. write sales letters, proposals, and promotional copy. C. produce customized questionnaires to post online. D. sort and classify different types of customer information quickly.

D

A primary reason for a business to interpret statistical findings is to A. influence buyers. C. increase production. B. promote creativity. D. aid decision making.

D

A technique that is helpful in developing self-understanding is keeping a personal diary. You should use the diary to A. review your progress on a daily basis. B. record the events of your life in detail. C. record your observations about others. D. identify the patterns of your behavior.

D

A television commercial for Antonio's Pizza Shop makes the following statement: "Our pizza contains the freshest ingredients around." This is an example of A. ambush marketing. C. stealth marketing. B. collusion. D. puffery.

D

A university is considering changes to its business administration degree. To obtain feedback on the idea from students, the university selects a sample of business majors who are seniors. What type of sampling did the university use? A. Cluster C. Stratified random B. Proportionate D. Simple

D

According to Isaac's pay stub, his total earnings before deductions are $1,425. His total deductions are $255. What is Isaac's net income? A. $1,298 C. $1,680 B. $1,425 D. $1,170

D

After a Korean auto manufacturer built a plant in Ames, Iowa, Kwan noticed a substantial growth of Korean residents in the area, many of whom were relocated to Ames to work for the plant. Kwan decided to import Korean goods and sell them in a small Korean specialty store near town. This is an example of a product opportunity resulting from A. advancements in technology. C. differences in priorities. B. changes in travel habits. D. shifts in population ethnicity.

D

All of the components of a well-designed print advertisement should present a A. powerful opinion. B. formal appearance. C. humorous scenario. D. unified message.

D

An advantage to retailers of offering credit is that credit customers A. spend more time deciding to buy. B. have little effect on store profits. C. always pay their accounts promptly. D. often buy impulse items more freely.

D

An athletic facility purchases a sports equipment distributor's directory for direct advertising purposes. The purchased information is often called a(n) ___________ list. A. internal-brokerage B. compiled C. house D. mail-response

D

An author's new book is an example of a A. derivative project. B. breakthrough project. C. R&D project. D. platform project.

D

An effective marketing plan usually contains a section that explains the marketing A. concept. C. risk. B. policy. D. mix.

D

An important aspect of fulfilling a company's brand promise is to A. develop different trade characters for different market segments. B. change the company's slogan on a regular basis. C. establish different policies for different types of customers. D. use touch points to create positive customer experiences.

D

An insufficient cash flow is one of the main causes of A. decreased profits. C. fiscal stability. B. higher prices. D. business failure.

D

As a sales representative for a large distributor, you hear a lot of information from your clients about the competition. Which of the following characteristics would help you to demonstrate initiative in this situation: A. Creativity and self-understanding B. Patience and resourcefulness C. Empathy and self-control D. Alertness and assertiveness

D

Beau is really stressed out because he agreed to take on three new clients that he really didn't have room for. Which time-management principle does he need to learn? A. Divide large projects into smaller parts B. Get enough sleep C. Focus on goals, not on tasks D. Don't bite off more than you can chew

D

Because Kevin worked late Tuesday evening to complete a report, he was the last employee to leave the building. What procedure does Kevin need to perform to protect the building from unlawful entry? A. Turn off the lights C. Lock the filing cabinet drawers B. Log off the computer D. Set the security alarm

D

Because the Hubert Company is not sure how to define its marketing problem, it should begin examining the issue by A. gathering primary marketing data. C. analyzing the sampling error. B. selecting a survey format. D. conducting exploratory research.

D

Behavior that is characterized by a willingness to ignore the rights of others and to exploit them in order to achieve personal goals is __________ behavior. A. offensive B. passive C. assertive D. aggressive

D

Businesses are being socially responsible to their customers when they A. contribute to community causes. B. provide safe working environments. C. offer employees job training. D. test the safety of their products

D

Chadwell's Toy Palace is planning a "buy one, get one free" sale for some popular toys. What will the store need to do to ensure that there are enough products available to meet the changing demand? A. Send copies of the promotional literature to the store's vendors B. Hire additional warehouse staff for the duration of the sale C. Change the distribution strategy from selective to intensive D. Purchase higher quantities of the sale items in a timely manner

D

Colors, logos, and images are all elements that make up a company's A. distributor brand. B. brand values. C. brand promise. D. brand identity.

D

During a brainstorming session, should participants be allowed to add new ideas to the list that are based on another group member's idea? A. Yes, because ideas that are too outrageous should be immediately modified B. No, because using someone else's idea is considered stealing C. No, because it can be interpreted as a poor evaluation of the idea D. Yes, because other participants' ideas can trigger new ideas

D

During one scene of a popular television show, an actor pours a box of brand-name cereal into a bowl and begins to eat it. This is an example of A. product programming. C. brand identification. B. brand awareness. D. product placement.

D

Governments that have passed "do not call" laws are restricting promotional activities related to A. direct mail. C. Internet downloads. B. contests. D. telemarketing.

D

If one U.S. dollar is equal to $1.01018 Canadian dollar, how much would you pay for a 16-gigabyte iPhone that costs $299 U.S. dollars in Canadian dollars? A. $306.05 C. $300.05 B. $304.05 D. $302.05

D

In determining its selling policies, a business would have little or no control over A. corporate goals and objectives. B. human and financial resources. C. research and development. D. customer wants and needs.

D

In some cultures, creating relationships during business negotiations is key; in other cultures, negotiators want a signed contract. This illustrates cultural differences in negotiating A. styles. B. attitudes. C. schedules. D. goals.

D

In the time-management process, what should you do when you are identifying your objectives? A. Update the plan. B. Schedule daily activities. C. Ask for advice. D. Write them down.

D

Increasing membership by 25% during the next year might be one of the __________ of a health club. A. principles B. strategies C. tactics D. goals

D

Invention involves generating new ideas, and innovation involves A. evaluating feasibility. C. selecting options. B. submitting proposals. D. acting on ideas.

D

Kendra 's financial goal is to build wealth over time by making diversified investments. Which of the following financial services providers is most likely to help Kendra achieve her goal: A. Financial-auditing firm B. Mortgage company C. Investment bank D. Asset-management firm

D

Levels of inflation and unemployment are factors that affect __________ in the world market. A. communication B. specialization C. satisfaction D. competition

D

Loggins Forestry and Mill Company sells wood to Henderson Wood Products. Henderson sells the wood to Franklin Construction Company, who uses the wood to build homes and office buildings. What is the channel of distribution for the wood products? A. Agent to industrial user to retailer to consumer B. Producer to industrial user to consumer C. Agent to wholesaler to consumer D. Producer to industrial distributor to user

D

Many of the town's residents have heard that this coming summer is predicted to be the hottest summer ever. As a result of hearing this, Tim, the owner of an appliance store, decided to do more advertising for air conditioners. Which of the following external factors has affected Tim and his business: A. Cultural and social trends B. Legal and political factors C. Technology D. Demand

D

Maria is developing her marketing plan for her small, but growing, business. She notes that one of the advantages of her company is that her staff is highly creative and flexible; however, a primary limitation that she faces is that she does not have sufficient financial resources to expand her product line. In which component of the marketing plan would Maria place this information? A. Financial statement B. Promotional plan C. Marketing mix D. SWOT analysis

D

Maria is developing her marketing plan for her small, but growing, business. She notes that one of the advantages of her company is that her staff is highly creative and flexible; however, a primary limitation that she faces is that she does not have sufficient financial resources to expand her product line. In which component of the marketing plan would Maria place this information? A. Financial statement C. Marketing mix B. Promotional plan D. SWOT analysis

D

Marketing has an effect on the quality of life and general living conditions of consumers, referred to as their A. value system. B. buying power. C. buying habits. D. standard of living.

D

Office supplies, computers, steel, and signage are examples of __________ resources that might be needed for projects. A. perishable C. donated B. support D. tangible

D

One of the reasons that teams are important to businesses is that they can increase A. procrastination. B. conflicts. C. costs. D. productivity.

D

One reason why it is important to coordinate the headline and illustrations in an advertisement is to make the reader A. aware of the cost involved. C. understand the company name. B. appreciate the style of layout. D. want to read the message.

D

One reason why the planned obsolescence of certain products often is considered an ethical issue is because of the products' short life that has an effect on the A. way that customers decide to use them. B. cost of designing and developing them. C. value of training employees to sell them. D. natural resources that are needed to produce them.

D

Operating expenses are defined as the A. start-up expenses of a business. B. salaries paid to managers. C. cost of goods sold. D. costs of running a business.

D

Packaging a product in a biodegradable or recyclable container is one way a channel member can participate in the ethical practice of A. international marketing. B. consumer protection. C. social awareness. D. green marketing.

D

Pick the best response: Where do product opportunities exist? A. Anywhere that people have had their needs satisfied B. Where people work C. Where people participate in their hobbies D. Anywhere there is an un- or under-met need

D

Reaching closure is the phase in the selling process when salespeople often need to A. identify customer reactions. C. determine buying needs. B. sell product benefits. D. answer remaining objections.

D

Since most large, industrial goods require installation, the channel of distribution most commonly used by their producers is A. producer to industrial distributor to user. C. producer to agent to industrial user. B. producer to agent to retailer. D. producer to industrial user.

D

Survey respondents indicated that they buy potato chips at the supermarket between three and five times per month. This is an example of A. rank. C. mean. B. mode. D. range.

D

The Fragrantly Yours Flower Shop determined that it sells between 35 and 50 dozen red roses each week. What measure is the flower shop using to analyze product sales? A. Mode C. Median B. Average D. Range

D

The SBU Company developed a survey in which respondents are provided the same number of favorable and unfavorable rating options. This is an example of survey using a ___________ scale. A. sequential C. spliced B. continuous D. balanced

D

The marketing function that best enables a company to make informed decisions about what to sell is A. promotion. B. product/service management. C. selling. D. marketing-information management.

D

The primary advantage to businesses using electronic data interchange (EDI) systems in the channel management function is that the systems A. ensure that product quality standards are achieved. B. provide buyers with a greater selection of goods and services. C. allow sellers to track the transportation route of orders. D. streamline communication between buyers and sellers.

D

The purpose of asking the participants of a research study to maintain product diaries is to obtain marketing research about consumers' A. financial skills. C. essential needs. B. viewing preferences. D. purchasing habits.

D

The purpose of semantic-differential rating scales is to measure A. talent. B. behavior. C. personality. D. attitude.

D

The receptionist at a medical practice schedules patients' appointments for Dr. Langdon. Typically, Dr. Langdon needs 15 minutes for a sick-patient visit and 30 minutes for a well-patient's annual check-up. This is an example of a service standard related to A. regulations. B. quality. C. cost. D. time.

D

To maximize the impact of a print advertisement, the headline, copy, graphics, and signature should be coordinated to A. include humor. C. communicate quality. B. convey subliminal messages. D. create visual appeal.

D

To obtain experience and satisfy graduation requirements, The XYZ University arranged for Desmond to work for a local business in his specific field of study during one semester of the school year. How did Desmond obtain work experience? A. Temporary employment C. Mentorship B. Volunteer work D. Internship

D

To protect the integrity of the marketing information they gather, businesses should avoid A. working with a publisher. B. paying for the data. C. surveying a lot of people. D. manipulating the research.

D

To take advantage of work-related networking opportunities, a businessperson might benefit by A. planning a meeting with a sales trainer. C. developing a creative résumé and cover letter. B. participating in an online social network. D. joining a professional organization.

D

Using a computer-generated slideshow to highlight product information would be most appropriate in which of the following business situations: A. Union contract negotiations B. Project-team status meeting C. Employee performance review D. Formal sales presentation

D

What component is important to include in all types of inquiry letters? A. Attention-getting title C. Project specifications B. Personal qualifications D. Contact information

D

What component of a marketing plan might a business use to summarize the results of its situation analysis? A. Business plan C. Market share graph B. Executive summary D. SWOT analysis chart

D

What data-collection method can be used to obtain product information during the point-of-purchase process? A. Statistical survey B. Photographic scanner C. Email survey D. Volume-tracking scanner

D

What do business owners consider when they select a business ownership structure? A. Product versatility, advertising strategies, and personal circumstances B. Product versatility, financial needs, and advertising strategies C. Personal circumstances, type of business, and product mix D. Personal circumstances, financial needs, and the type of business

D

What do businesses often develop to be able to store and analyze data for the purpose of making business decisions? A. Management policies B. Operating procedures C. Survey methods D. Information systems

D

What form of currency is issued by the federal government? A. Certified notes C. Corporate bonds B. Brokerage bills D. Paper money

D

What form of technology helps businesses track their production supplies and resale products in real time? A. Cyber-security applications C. Three-dimensional drum scanner B. Integrated project planning software D. Radio frequency identification

D

What is an advantage of product bundling to a business? A. The business is less likely to experience cash-flow problems. B. Customers are usually satisfied with the quality of all the bundled items. C. The business usually increases its profit margins by offering deep discounts. D. Customers are less likely to buy the individual items from competitors later.

D

What is one reason why the overall unemployment rate understates the actual employment situation? A. The rate reflects regional differences. C. Underemployed people are listed. B. The rate is not seasonally adjusted. D. Discouraged workers are not included.

D

What is the device that a business's employees use to obtain information about customers who access the business's website? A. Bookmarks B. Browsers C. Spiders D. Cookies

D

What is the most appropriate closing to include in a response to a customer's e-mail inquiry for product information? A. The model 2CR is available in three colors—red, black, and white. Reply by e-mail with the color that you want. B. On behalf of LVN Industries, thank you for your order. Your confirmation number is 243597. C. We apologize for the inconvenience and will send a corrected invoice to you within 24 hours. D. Thank you for your interest in XWQ products. Please let me know if you have any additional questions.

D

What marketing function directly affects how well a product will sell and the amount of money the business will make? A. Channel Management C. Product/Service Management B. Promotion D. Pricing

D

What should accountants demonstrate when collecting accounting information and preparing financial documents? A. Empathy and flexibility C. A collaborative mindset B. An innovative attitude D. Professional integrity

D

What should you develop to persuade others to believe what you say? A. Listening skills C. Creativity B. Cultural sensitivity D. Personal credibility

D

What step can an organization take that will help it adapt quickly to changes in the marketplace? A. Overlook employee input C. Encourage obsolescence B. Update product information D. Develop contingency plans

D

What type of law focuses on issues regarding the promises that businesses make with their customers, vendors, and other business partners? A. Patent B. Constitutional C. Probate D. Contract

D

What type of product information might a salesperson obtain from reading a business's promotional materials? A. Aptitudes B. Demographics C. Objectives D. Characteristics

D

What type of software program allows a business employee and a customer to communicate in real time from a computer by typing text? A. Call tracking C. Procurement B. Database D. Instant messaging

D

When Elliot was tabulating marketing research data, he transposed some numbers as he was converting raw data into numerical values. What type of error occurred? A. Response C. Sampling B. Measurement D. Recording

D

When a business sets up a Facebook account to communicate with its existing and potential customers, what technological tool is it using? A. Affiliate advertising C. Just-in-time marketing B. Broadcast media D. Social networking

D

When a customer is willing to purchase only one specific brand, this is referred to as brand A. strategy. B. recognition. C. preference. D. insistence.

D

When a manufacturer asks a business to collect information from customers concerning how to improve a product, which type of utility is most likely to be affected? A. Possession B. Place C. Time D. Form

D

When all employees are on the "same page" and working toward a common goal, businesses tend to be more A. negative. B. ethical. C. popular. D. efficient.

D

When creating web pages, a business should be sure to include a __________ the home page. A. reason for B. picture on C. summary of D. link to

D

When employees' personal interests become more important than achieving the company's overall goals, informal political relationships might form, which often cause organizational A. integration. B. unity. C. utility. D. conflict.

D

When implementing purchasing activities, what do businesses often establish in order to select vendors? A. Price sheets C. Purchase orders B. Contracts D. Criteria

D

When marketing researchers code the various responses on a questionnaire, they are __________ to each answer. A. computing a total score C. rating the agreement B. tabulating the response D. assigning a numeric value

D

When salespeople demonstrate the features and benefits of goods or services, they often are able to A. provide jobs for more employees. B. add usefulness to products. C. develop new and improved products. D. create desire for products.

D

When taking notes during a seminar, a businessperson should write down A. all details. B. information of interest. C. inaccurate statements. D. key points.

D

When the LXT Audio-Book Company was founded 15 years ago, its target market was blind and visuallyimpaired individuals who enjoyed listening to nonfiction audio books. Recently, though, the company has begun marketing these same audio books as "learning solutions" for individuals with dyslexia and other learning disabilities. This is an example of __________ innovation. A. paradigm B. product C. process D. positioning

D

When trying to persuade others, it is often helpful to use stories and anecdotes because they A. exaggerate the benefits. B. make people feel comfortable. C. add energy to your explanation. D. reinforce your message.

D

When using mind mapping to generate product ideas, you begin by writing down the main problem or A. situational analysis. B. supporting facts. C. primary associations. D. market opportunity.

D

Which of the following are elements that appear in the heading of a memorandum: A. Company, to, subject, and date C. Date, title, to, and company B. To, title, from, and date D. To, from, date, and subject

D

Which of the following are public-relations activities: A. Identifying trends, writing press releases, and hiring new staff members B. Holding press conferences, identifying trends, and hiring new staff members C. Sponsoring events, developing new products, and distributing company newsletters D. Writing press releases, distributing company newsletters, and sponsoring events

D

Which of the following best describes the goal of amplified word-of-mouth: A. Improving the quality of goods and services the business offers B. Encouraging customers to provide both positive and negative feedback C. Building loyal relationships with the customers D. Providing information to activists to share with others

D

Which of the following coaching characteristics means that you are willing to admit your mistakes: A. Approachability B. Dependability C. Patience D. Humility

D

Which of the following could make it difficult for you to believe that your needs are as important as the needs of others: A. You have developed a lot of self-respect. B. You choose your own behavior. C. You are an assertive person. D. You are often around aggressive people.

D

Which of the following departments in many businesses is responsible for generating product ideas: A. Sales and marketing B. Information technology C. Executive management D. Research and development

D

Which of the following is a company resource that employees often analyze to ascertain policies and procedures: A. Research documents B. Sales reports C. Promotional brochures D. Training materials

D

Which of the following is a computer-based time-management tool that helps employees keep track of their appointments and activities: A. Alarm clock B. Perpetual calendar C. Instant-messaging program D. Electronic task organizer

D

Which of the following is a form of qualitative research: A. Sampling B. Online survey C. Experiment D. Focus group

D

Which of the following is a possible weakness associated with a secondary-data source: A. Internet accessibility B. Recent industry approval C. Reasonable purchase price D. Inconsistent collection method

D

Which of the following is a primary advantage of conducting a focus group to obtain marketing information: A. Moderator objectivity C. Limited preparation B. Cost effectiveness D. Discussion relevance

D

Which of the following is a reason to avoid drawing distinctions between people: A. Certain people don't deserve respect. B. Discrimination is illegal. C. Some people aren't "normal." D. Everyone is unique

D

Which of the following is a safety procedure that businesses use to track employees who must evacuate a building during an emergency: A. Training an employee to perform CPR if others are injured B. Assigning an employee to change the smoke- alarm batteries C. Requiring employees to call managers when they arrive home D. Designating a central meeting place for all employees

D

Which of the following is a true statement about visions: A. They are intended for the short-term future. C. They cannot permanently change the world. B. They are exactly the same as dreams. D. They require hard work and determination.

D

Which of the following is a type of sales promotion that provides customers with immediate rewards: A. Product displays B. Mail-in rebates C. Loyalty programs D. Price-off deals

D

Which of the following is a type of simple written report that usually is distributed to employees within a business: A. Newsletter B. Proposal C. Handbook D. Memorandum

D

Which of the following is an aspect of channel management that impacts customer service? A. Advertising C. Protectionism B. Taxes D. Timeliness

D

Which of the following is an example of gathering information before making a decision: A. Watching movies B. Writing letters C. Reading novels D. Asking questions

D

Which of the following is an example of quantitative data: A. "Tara is a great tutor." B. "Tara is one of the smartest kids in school." C. "I heard Tara is applying to Harvard!" D. "Tara graduated first in her class."

D

Which of the following is an example of unethical selling behavior that directly affects employee-toemployee relationships: A. A salesperson does not want to lose a sale, so s/he withholds information from a prospect after being questioned about the product's performance. B. A buyer awards a major contract to a construction company after the company's vice president gave the buyer Super Bowl tickets. C. The sales staff's commissions are lower after a manager restructures the company's sales territories and sets high quotas. D. To win a departmental sales contest, a salesperson claims to have processed a sales transaction before it has been formalized.

D

Which of the following is an idea-generation technique that uses programmed thinking: A. Synectics B. Mind mapping C. Forced questioning D. Attribute listing

D

Which of the following is an unethical practice in relation to marketing-information management: A. Summarizing statistical data in an unusual format B. Obtaining a customer's personal data C. Implementing opt-in and opt-out e-mail policies D. Using spyware computer programs

D

Which of the following is an unethical situation in product/service management: A. Vincent Electronics discontinues production of a slow-moving solar calculator. B. Travis Manufacturing uses recycled materials for its product packaging. C. Donna's Dress Boutique obtains deep discounts from a new clothing designer. D. The Simpson Company embellishes the information that it places on its product labels.

D

Which of the following is essential to all marketing research: A. Secondary data B. Primary data C. Frequency D. Accuracy

D

Which of the following is not a reason to use contraction as a product mix strategy: A. To avoid conflict with another product in the product mix B. To make room for other products C. To protect the company from a legal liability D. To attract a new target market

D

Which of the following is the most important reason for creating a written plan for a marketing-research project: A. To make it easy to analyze the data collected B. To implement the marketing concept C. To keep the project from going over budget D. To keep the project on track

D

Which of the following is the most visible element of the promotional mix: A. Personal selling B. Sales promotion C. Publicity D. Advertising

D

Which of the following is true about a survey-sampling plan: A. Tends to have extremely low error rates B. Eliminates respondent bias C. Is more reliable than observation D. Represents a larger group

D

Which of the following marketing strategies is appropriate for the decline stage of the product life cycle: A. Increasing promotion expenditures B. Marketing to early adopters C. Expanding the product line D. Selling the product online

D

Which of the following provides government protection of business property: A. Revenues C. Economic incentives B. Consumer-protection laws D. Patents

D

Which of the following situations indicates that a marketer should conduct marketing research to resolve a problem: A. Declining inflation C. Monitoring competitors B. Testing new products D. Losing market share

D

Which of the following types of software programs would an employee use to prepare a form letter informing the company's clients of a change in product pricing: A. Database B. Spreadsheet C. Presentation D. Word processing

D

Which of the following would be done first in an environmental scan: A. Identifying and analyzing important trends and issues B. Carrying out scanning activities C. Selecting trends and issues to act on D. Identifying participants and responsibilities

D

Why do companies use brands for their products? A. To demonstrate creativity B. To charge higher prices C. To encourage materialism D. To differentiate their products

D

Why is it important for hospitality and tourism businesses to be aware of, and react to, trends and changes in the marketplace? A. To identify resources B. To increase advertising C. To hire personnel D. To remain competitive

D

A business plans to launch a new product in the next year. When developing its promotional plan, the business should A. wait to promote the new product until the research and development costs are recovered. B. redirect most of its promotional activities to the new product. C. delay setting an advertising budget until it determines how well the new product performs. D. allocate a portion of its budget to promote the new product.

D

A business should strive to keep its cash conversion cycle as short as possible so it A. has fewer liquid assets. C. can increase its profit margin. B. can earn dividends. D. has cash available to use.

D

A business conducts marketing research when it needs to solve a problem or when it wants to A. analyze financing options. C. coordinate activities. B. increase its sales staff. D. identify a new market opportunity.

D

A business might reduce a product's price during the growth phase of the product's life cycle because A. the product tends to attract early adopters during this phase of the life cycle. B. the business wants to recover its research and development costs. C. it can lower advertising costs since the product has a loyal customer base. D. competitors have introduced similar products to the marketplace.

D