7.00 study guide
c
. Michelle reviewed survey results of a completed project and set goals for the new project. This is an example of which function of management?a. Controllingb. Organizingc. Planningd. Staffing
b
A characteristic of a sole proprietorship is that the owner has access to: a. unlimited funds. b. receives all the profit. c. transfers all the risk.d. delegates all functions.
d
A travel agency usually offers vacation packages starting at $399. The manager has determined that its operating expenses have increased; therefore, it will increase its markup by 45%. What will the new starting price for a vacation packages?a. $45.00b. $179.55c. $358.55d. $578.55
b
A type of business ownership in which one or more of the owners does not have full liability is called aa. general partnership. b. limited partnership. c. sole proprietorship.d. service organization.
a
According to the marketing concept, which option demonstrates customer orientation?a. Finding out what a buyer wants b. Researching a firm's competitors c. Convincing a buyer to buy d. Advertising the features of a product
d
All of Josh's employees will be trained on operating the new machines. This is an example of which function of management?a. Controllingb. Implementingc. Organizingd. Staffing
c
Carnival Cruise Lines now offers 20 ounce bottles of water instead of the 12 ounce bottles it previously sold. This is an example of which marketing function?a. Distributionb. Financingc. Product managementd. Selling
a
DMS has opened many warehouses throughout the city. This has especially increased convenience for its business customers. This is an example of which marketing function?a. Distributionb. Financingc. Promotiond. Selling
c
Dunkin' Donuts offers a free donut to customers that complete an on-line survey. The feedback will help with the future product options. This is an example of which marketing function?a. Distributionb. Financingc. Marketing-information managementd. Selling
c
Jack and Henry are responsible for 20 people, who report to them directly. They collaborate frequently to make sure they will meet the production goal of the company established by another employee. This is an example of which level of management?a. Management by othersb. Mid-managementc. Supervisorsd. Top management
b
Jan coordinated access to open source software, office space, and equipment for her team. This is an example of which function of management?a. Implementingb. Organizingc. Planningd. Staffing
b
John is responsible for processing applications submitted by applicants. He is performing which level of management?a. Management by othersb. Mid-managementc. Supervisorsd. Top management
b
Lowes Home Improvement provides credit lines to other businesses in order to meet its organizational goals. This is an example of which marketing function?a. Distributionb. Financingc. Pricingd. Selling
a
Many small businesses that sell unique products realized it is easier to make a profit by having businesses online as opposed to a physical location. This is an example of which marketing function?a. Distributionb. Pricingc. Promotiond. Selling
c
New York Fashions Clothing Company surveys customers to find out which zip codes most of their customers reside. The results will help with the company's relocation plans. This is an example of which marketing function? a. Distributionb. Financingc. Marketing-information managementd. Selling
a
One reason why many small businesses develop an organizational design that requires a board of directors is because a board usuallya. provides experience that increases the business's credibility. b. assumes all legal responsibility for the business's actions. c. helps with the day-to-day operations of the business. d. evaluates the performance of the business's employees.
c
Pop-up advertisements for video games appear whenever Amy visits a website of a sports store. This is an example of which marketing function?a. Distributionb. Financingc. Promotiond. Selling
c
Tammy designs sales brochures that include the value, features, and benefits of hand-crafted furniture. This is an example of which marketing function?a. Distributionb. Financingc. Promotiond. Selling
c
The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?a. Partnership b. Cooperative c. Corporationd. Proprietorship
d
Which is an example of direct channel of distribution?a. Mary hired her mother to assist with her cupcake business.b. Mary pays an advertising agency to promote her cupcake company.c. Mary pays Tim to deliver cupcakes to customers.d. Mary takes care of all the marketing functions for her cupcake company.
c
Which is an example of personalized promotion?a. Jade posted flyers for guests to be informed about her detox program.b. Jade's company sponsored a health fair.c. Jade met with a couple to discuss the benefits of detoxification.d. Jade presented a seminar to 3000 people to promote a detox program.
d
Which of the following is an example of a durable good:a. Pizza b. Haircut c. Shampood. CD player
c
Which of the following would probably result if a business reduced its marketing costs:a. Increased costs of productionb. Decreased variety of consumer goodsc. Decreased consumer awareness of goods and servicesd. Increased need for customer contact with businesses
