Business Finance Series Test Practice(Marketing Division 1)

98. Which of the following is an example of a salesperson describing a product's construction and materials:

"Because the manufacturer uses high-grade materials to produce this item, its quality is superior."

56. For which of the following can a sales forecast predict sales:

A specific geographic area.

84. During the first year that Rick owned his new car, the vehicle seemed to spend more time in the repair shop than it did on the road. Rick contacted the auto manufacturer and demanded his money back because the car seemed to be defective, but the manufacturer refused. A member of the Better Business Bureau agreed to act as an impartial third party in the dispute. The BBB member studied the facts of the case, determined that the car was indeed defective, and decided how much money the carmaker would be required to refund to Rick. This is an example of

Arbitration

96. Which of the following is a reason why the ethical and legal issues involved in selling activities are extremely important:

Buyers avoid doing business with unethical salespeople.

49. The data needed for sales volume analyses and market share analyses come from

Company sales reports

70. Which of the following quality-control methods improves quality by saving time and allowing potential problems to be caught earlier in the product design and development process:

Concurrent engineering.

65. Jason is an IT professional for his company, and one of his responsibilities involves the maintenance of the office's copy machines. One of the company's old copiers is due for a replacement in a few weeks. What should Jason do to ensure that any sensitive information stored on the copier is protected?

Contact the copier's manufacturer, dealer, or servicer to learn about options for removing or overwriting the copier's hard drive.

82. A restaurant wants to develop new menu items that will appeal to its customers. A server mentions that many customers have asked for gluten-free meals, so the restaurant decides to try out a few new glutenfree menu items. What method of idea generation did the restaurant use?

Customers

25. Thinking of a time when you were happy and proud can help you

Determine what values made you feel that way

87. A department store sells clothing from brands like Levi's, but it also sells its own private brands of clothing, also known as __________ brands.

Distributor

22. Interest rates rising and falling by a wide range on a regular basis often are an indication of

Economic instability

37. Bryant recently applied for a personal loan from the Maryville Community Credit Union, but his application was rejected. Bryant has a friend who works at the credit union, so he asks her what went wrong with his application. She told Bryant that the credit union's manager is prejudiced and rarely accepts applications from individuals of Bryant's religion. The credit union violated Bryant's right to

Equal credit opportunity.

8. When Amber walked by Ryan's desk, she noticed that Ryan was raking his left hand through his hair, that his face was red, and that he kept hitting the enter button on his keyboard with his right hand, while frowning at his computer screen. Based on his nonverbal cues, Amber would probably assume that Ryan was

Frustrated

33. Being enthusiastic about your job is an example of what type of behavior that builds positive working relationships?

Having a good attitude.

21. A depression is characterized by which of the following:

High unemployment.

34. Companies spend lots of time and money developing positive organizational cultures because positive culture is linked with

Improved results

42. Income from sales, cost of goods sold, gross profit on sales, operating expenses, and net profit or loss are all part of a(n)

Income statement.

11. The human resources manager sends an email to all employees stating that they will need to park on the street on Tuesday because the maintenance department will be repairing the company's parking lot. This is an example of a(n)

Informational message

50. Orson, a researcher, is asking a customer a series of questions during a scheduled meeting. Orson is using the __________ method to collect marketing data.

Interview

79. Most marketers cannot expect to maintain their profit rates unless they

Introduce new products from time to time.

13. Jayson just learned his company wants to hire a new public relations assistant. He posts the job position information on his personal social media accounts and gives contact information for the manager that will be conducting interviews. Why is this inappropriate use of social media?

It is unprofessional to post company employment information on a personal site.

61. When developing a computer-based presentation, it is important that each slide contain

Key points

52. 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)

Leading question

16. A company decides to spend $5,000 on new office furniture instead of putting that money toward the marketing budget. What is the opportunity cost of this decision?

Lost benefits of additional marketing.

73. Which of the following should you do when preparing your letter of application:

Mention any mutual contacts you have.

6. A producer can minimize channel conflict among its distributors and retailers by

Offering different products through each channel.

35. The entrepreneurs best equipped to work long hours and overcome obstacles are ones who possess

Passion for their work

85. Inventory reduction, sales stimulation, and new-product introduction are reasons that many businesses use __________ techniques.

Product-bundling

47. The Henry Smith Company wants to select a representative group of consumers to survey. What part of marketing research is it doing?

Sampling

36. Each pay period, Kendra has her employer automatically deposit her paycheck into her checking account so the funds are available for use when she needs them. In this situation, money is functioning as a(n)

Store of value

97. What information could a salesperson obtain by examining a product?

Texture

7. What is an advantage of verbal communication?

Tone of voice can be used to express emotions and thoughts.

100. When assessing risks associated with an upcoming event, sport/event organizations should acquire input from all levels of management and

Vertical staff members.

90. Which of the following examples depicts an advantage of using digital advertising:

Viewers must interact with a video ad before continuing to a website.

63. Which of the following helps in the interpretation of mined data:

Visual representation

76. Which of the following is a common consequence for violating rules of conduct:

Written warning.

54. Would a successful business ever change its marketing strategy?

Yes, changes in the marketplace require changes in marketing strategy.