Marketing Exam Master Quizlet

The best way for salespeople to obtain detailed information about a complex product is by

Attending a training session

The purpose of semantic-differential rating scales is to measure

Attitude

Which of the following is an idea-generation technique that uses programmed thinking:

Attribute listing

Being a good listener is an example of what type of behavior that builds positive working relationships?

Being cooperative

Which of the following pricing practices is illegal in some countries because it may drive a company's competitors' out of business:

Below-cost pricing

To maximize the impact of a print advertisement, the headline, copy, graphics, and signature should be coordinated to

Create visual appeal

Product bundling is an effective method to sell goods and services because it

Creates a sense of value for the customer

To identify product opportunities, Corrine tries to make connections between two unrelated items, which is an example of

Creative thinking

When you look for supporting evidence in published materials, you are evaluating the

Credibility of the sources

Researchers assess the timeliness of marketing information to make sure that the information is

Credible

Which of the following are examples of customer-related services that a business might consider when setting a product's price:

Credit, delivery, and installation

When implementing purchasing activities, what do businesses often establish in order to select vendors?

Criteria

While researching information for a business report, Tara reads the following statement in an online newspaper article: "Although unemployment has dropped slightly over the past few months, many politicians have indicated that they believe the government has done enough to get our country out of this recession." This is an example of information that contains

Criticism

McDonald's golden arches are an example of a brand

Cue

Businesses are affected by social factors in the external environment because

Customer needs are affected by these factors as well

Jordan takes time to follow up with his clients on a regular basis and lets them know about new product releases and updates. He makes sure that he answers his clients' questions and resolves their problems quickly. Jordan is carrying out activities that relate to

Customer relationship management

What could a salesperson for a convention hotel use to sell the features and benefits of the hotel's meeting facilities?

Customer testimonials

In determining its selling policies, a business would have little or no control over

Customer wants and needs

The Upper Crust Bread Shop bakes its bread on site so that customers can smell the bread when they enter the shop, and it sets baskets of bread samples throughout the shop. The shop uses these touch points to carry out its

Customer-experience management strategies

A restaurant server might obtain valuable information about the taste of a new menu item by talking to

Customers

Which of the following is likely to happen when a business doesn't have an adequate supply of the products it selects to promote:

Customers may ignore future promotions

When a business's salespeople take time to discover their customers' needs, the business is likely to benefit because

Customers tend to return fewer products

What type of marketing data can a business obtain by reviewing its inventory reports and customers' invoices?

Customers' product preferences

Laura is responsible for coding the results of a marketing-research survey. While scanning the responses, the computer software flags a value that lies outside the range of possible answers. Laura will need to review the answer and determine how to best resolve the response error. What stage of the coding process is Laura performing?

Data cleansing

What activity involves transforming facts and figures into a useful format?

Data processing

A positive political tactic to use to influence organizational decision making often involves

Developing a support base

Which of the following statements is true regarding the use of diaries as a marketing-research collection method:

Diaries record repetitive behaviors that occur at frequent intervals

An advantage to forming collaborative partnerships with coworkers is that

Different perspectives often facilitate creativity

Cindy's lemonade stand sells lemonade to customers. The route that the lemonade is taking from the producer to the final consumer is

Direct

When farmers sell their own crops at roadside stands on their farms, they are using a(n) __________ channel of distribution.

Direct

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:

Direct mail

Which of the following is an example of a purchase experience touchpoint:

Direct sales

What can an employee do on a regular basis to maintain an organized workspace?

Discard outdated files and papers

What is one reason why the overall unemployment rate understates the actual employment situation?

Discouraged workers are not included

Which of the following is an example of a potentially unethical action associated with providing business information:

Discussing specific product-development processes with external business sources

Which of the following are types of corporate brands:

Disney, Apple, and Nike

Which of the following is a barrier to effective listening:

Distractions

Because of their strategic significance in providing place utility, it is usually easier to change price or promotional efforts than to change

Distribution channels

Which of the following is a reason to avoid drawing distinctions between people:

Everyone is unique

Which of the following is an example of a tax that the government collects from some businesses:

Excise

What distribution method is best for a manufacturer to use when the product is complex and is difficult to install and repair?

Exclusive

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?

Executive summary

When deciding if it should participate in an industry trade show, a company should consider the number of potential contacts in relation to the company's

Exhibit costs

What are the characteristics of dissonance-reducing buying behavior?

Expensive, infrequent purchase with high buyer involvement and few perceived differences

The exchange rate of a nation's currency is most likely to decrease when the nation

Experiences political instability

Manufacturers often provide special instructions on product labels that salespeople can use to

Explain care techniques to customers

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?

Exploratory

What type of research would a business conduct if it wanted to identify potential issues or opportunities?

Exploratory

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

External threat

While conducting a situation analysis, the CCB Company discovers that the government is planning to tighten industry regulations. As a result of the stricter regulations, the CCB Company will have to make costly operating improvements. This is an example of a(n)

External threat

When a retailer follows up with a vendor to verify that an individual's order shipped on time, it is

Facilitating customer service

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

Facts

When the salesperson did not return Mr. Adkins' calls about the status of his backordered stove, he cancelled his order. The salesperson lost the order because s/he

Failed to provide customer service

True or False: Only express warranties hold up in court.

False; implied warranties are valid

Determine if the following statement is true or false: The primary purpose of quality-control measures is to evaluate employee efficiency levels.

False—businesses also use quality-control measures to evaluate products, processes, and other business functions

The main reason many individuals resist change is

Fear

What type of tax is used to pay for national defense and interstate highways?

Federal income

Which of the following gestures would indicate a speaker's nervousness during an oral presentation:

Fidgeting with accessories

When an agent legally acts in the best interests of his/her client, the agent is establishing a(n) __________ relationship.

Fiduciary

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?

Set the security alarm

A business can help its salespeople build a clientele by

Having favorable adjustment and return policies

Which of the following is an example of a payroll deduction:

Health insurance

Which of the following is an example of a brand promise:

Henderson Photography...uniquely capturing your special moments is our priority

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.

Hidden

Which of the following is the primary benefit of keeping your personal workspace organized:

Higher efficiency

An example of governmental change would be a change in

Highway speed limits

Nelson needs to find out the exact model number of a printer to order the correct ink cartridge for a customer. To obtain accurate information quickly, Nelson should access

His company's intranet

What can a business do to attract trade-show attendees to the business's display or booth?

Hold a prize drawing or raffle

Which of the following coaching characteristics means that you are willing to admit your mistakes:

Humility

When businesses want to make their products available to customers but do not want to over-distribute their goods and services, they are seeking

Ideal market exposure

A business conducts marketing research when it needs to solve a problem or when it wants to

Identify a new market opportunity

When Samantha reviewed her company's financial information, she noticed that the sales for the Java6 coffee maker decreased for three consecutive months. In this situation, the financial information helped Samantha

Identify a trend

By continuously monitoring internal marketing information, a business is often able to

Identify problems

A technique that is helpful in developing self-understanding is keeping a personal diary. You should use the diary to

Identify the patterns of your behavior

What do coworkers who are involved in a dispute need to do before they can find a possible solution?

Identify the problem

One of the first steps a business takes in developing a promotional plan is to

Identify the target market

Which of the following is the first step in the bidding process:

Identifying needs

Which of the following would be done first in an environmental scan:

Identifying participants and responsibilities

Monitoring financial accounts and reading bank statements on a regular basis can help detect activities associated with

Identity theft

"I can't agree to your terms until I discuss the situation with my manager." This is an example of the __________ negotiating strategy.

Limited authority

One of the disadvantages of word-of-mouth advertising is that businesses usually have

Limited control

Elise is the public-relations director for Divine Frozen Yogurt and has assembled a packet that contains key information about the company. The packet contains a cover letter, an overview of the company, photos, recent press releases, published news articles, staff biographical information, and product brochures. Elise had developed a(n)

Media kit

One aspect of coordinating channel management with pricing activities involves

Setting appropriate prices

One of the most important aspects of project management involves

Setting goals

What is the primary goal of viral marketing?

Sharing

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

Shifts in population ethnicity

Which of the following techniques helps to build trust in negotiations:

Show respect by actively listening

Which of the following is an area at a business that must be maintained on a regular basis:

Sidewalks

Which of the following is an example of an employee using nonverbal communication effectively to reinforce his/her service orientation:

Molly nodded and maintained eye contact as Ms. West explained the problem with her computer

One of the best ways to protect yourself against identity theft is to

Monitor your credit and bank accounts continuously

An electronics company scaled back its production of camcorders during an economic recession when the demand for them decreased. In this situation, the company adapted to market changes by

Monitoring consumer spending trends

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

Monopolized the discussion

How does increased business productivity benefit consumers?

More goods and services become available, so prices go down

John, a farmer, learned prior to the planting season that the price of wheat had increased relative to the price of corn. To gain the greatest profit, John should plant

More wheat than corn

To determine the types of information that the business needs to operate, it is often beneficial to

Obtain employees' input

A business that provides excellent customer service is more likely to

Obtain referrals

Jackie is interested in predicting what special events result in higher demand for chocolate candy. She should conduct behavioral segmentation based on

Occasion response

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?

Odds of winning

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

Offering different products through each channel

What is a method that managers can use to motivate employees?

Offering performance-based financial rewards

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

Offering to place all the packages in one large bag

An advantage to retailers of offering credit is that credit customers

Often buy impulse items more freely

A benefit to the seller of bundling products is that doing so

Often lowers the marketing costs

Which of the following is an oligopoly:

Oil industry

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?

Presentation

Since most large, industrial goods require installation, the channel of distribution most commonly used by their producers is

Producer to industrial user

Kendra owns a small business that sells handmade quilts to residents and tourists in her community. What type of distribution channel being used?

Producer to retailer to consumer

Operations management is demonstrated in which of the following phrases:

Producing goods and services

Which of the following are internal factors that affect the way a business uses promotional tools:

Product and price

An electronics business decided to remove the X2L digital camera from its product mix because it was taking away sales from its FZG1 premier digital camera. This is an example of

Product cannibalization

Which of the following is a factor used for grading products:

Product contents

A customer is most likely to raise objections during the selling process when the

Product is expensive

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

Product placement

Lakeview Manufacturing produces canned tuna fish for consumers and pets. After the company decided to expand its market to three additional states, it discovered that the pet products were labeled incorrectly. They had been packaged and distributed as consumer products. To correct this problem, which of the following actions should the company take:

Product recall

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?

Product uses

One of the reasons that teams are important to businesses is that they can increase

Productivity

A company sponsors an advertisement on local television, highlighting the importance of parents reading to their children. This is an example of what type of institutional promotion?

Public-service

How can a business build its customers' trust and communicate its commitment to ethical practices?

Publish its confidentiality statement

A television commercial for Antonio's Pizza Shop makes the following statement: "Our pizza contains the freshest ingredients around." This is an example of

Puffery

Molly works in operations. Her job is to make sure that the business has all the supplies it needs to keep production going smoothly. Molly works in the area of

Purchasing

The purpose of asking the participants of a research study to maintain product diaries is to obtain marketing research about consumers'

Purchasing habits

What happens when inflation increases?

Purchasing power decreases. Inflation, which is a rise in prices, decreases purchasing power because it takes more money to buy the same item

The Skintastic Cosmetic Company implemented a challenging sales promotion in which its independent sales consultants could earn bonuses, prizes, and vacations. This is an example of a company using ___________ as a sales incentive.

Push money

A business sends a survey to ask its customers about their buying intentions for the next year and will use the survey data to develop its annual sales forecast. What type of sales forecast is the business using?

Qualitative

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

Quality control

What information should a business provide its suppliers to ensure that products will be available to meet demand?

Sales forecast

A business is planning a sale and needs to know what sales were for a particular weekend in the previous year. Which of the following accounting records would provide this information:

Sales journal

What elements of the promotional mix are ideal to use when promoting products to large, personal consumer markets?

Sales promotion and advertising

Which of the following is a source of error in the research process:

Sample design

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?

Simple

Research and development speed up production by

Simplifying existing products

Which of the following is a characteristic of the machine bureaucracy organizational structure:

Specialization by work task

When developing a request for quotation (RFQ) for prospective vendors, a business should always include

Specifications and deadlines

Which of the following is an example of a good or service that is produced through a capital-intensive conversion process:

Sport utility vehicle

Computers have given marketers the ability to calculate pricing functions such as break-even points and elasticity of demand by using __________ programs.

Spreadsheet

One reason why human resources management is important to the success of a business is because this process is responsible for

Staffing the business

Marketing has an effect on the quality of life and general living conditions of consumers, referred to as their

Standard of living

A retailer sends a sales announcement and coupon with the monthly summary of accounts that it sends to its customers. What form of direct mail is the retailer using?

Statement stuffers

Shelly is a union member who has been having problems with management. Shelly should report her problems to her union's

Steward

Of the following investments, which can bring roller-coaster ups and downs:

Stocks

Which of the following workplace-related safety and health issues would most likely be regulated by law:

Storage and disposal of chemicals

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

Store of value

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?

Strain

"How can we alter our existing product so it will appeal to another market?" is an example of a

Strategy-oriented decision problem

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

Stress

Sean was born and raised in Quebec, and his grandparents are from Ireland. Sean's Irish heritage is his

Subculture

Text that continues or clarifies the thought expressed in the print ad's headline is referred to as the

Subhead

Which of the following is most likely to contain indoor billboards:

Subway terminals, airport terminals, and enclosed malls

Which of the following is an example of unethical selling behavior that directly affects employee-to-employee relationships:

To win a departmental sales contest, a salesperson claims to have processed a sales transaction before it has been formalized

Which of the following are elements that appear in the heading of a memorandum:

To, from, date, and subject

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

Todd misled Cynthia

"Big Q" is also known as

Total quality management

What is one way businesses use computer technology to obtain information to improve their product/service mix?

Tracking visitors to their websites

Which of the following are communication channels that businesses often use when engaging in the push promotion strategy:

Trade advertising and trade shows

What might employees read in order to learn about new trends and technology in a specific industry?

Trade journal

To maintain a quality work culture throughout all levels of an organization, it is important for businesses to

Train employees thoroughly

Which of the following is a company resource that employees often analyze to ascertain policies and procedures:

Training materials

A primary reason that employers often consider hiring a person with internship experience is because it implies that the applicant possesses

Traits such as initiative and commitment

When Armand is comparing his checkbook balance with his bank statement, he must make sure that he has subtracted the ____________ from his checkbook.

Transaction fees

During which of the following steps do researchers transfer coded questionnaire data to the computer:

Transcribing

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?

Transferring it

Computer networking and information sharing among channel members at all levels have increased the levels of collaboration and

Transparency

What is an economic factor that businesses might identify as a result of conducting an environmental scan?

Unemployment rate

What type of law prevents salespeople from one company from interfering with their competitions' activities?

Unfair trade

All of the components of a well-designed print advertisement should present a

Unified message

The following statement appears on a company's web site: "Unlike our competitors, Naturally Yours Cosmetics uses organically-grown ingredients in its facial scrubs and lotions." What strategy is the company using to position its line of skin-care items?

Unique attributes

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

Using humor

Which of the following responses to a difficult situation would damage your professional image:

Using inappropriate language

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

Using interactive displays that allow attendees to try the tablet

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)

Variable

In the past month, Anna has purchased Lay's mesquite-barbeque chips, Shearer's kettle-cooked potato chips, and Utz's wavy potato chips. What type of buying behavior is Anna exhibiting?

Variety-seeking

A manufacturer that decides to sell directly to large retailers rather than through wholesalers might create __________ conflict within its distribution channel.

Vertical

A manufacturer advises its distributors that they must achieve an extremely high level of sales next year to continue as channel members. This action is most likely to create

Vertical conflict

What device helps to ensure that direct-observation research is collected in a neutral way?

Video camera

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?

Videoconferencing

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

Violates antitrust laws

A soft-drink company posts a film clip on YouTube and Facebook that features its employees drinking the company's best-selling beverage while they are performing a flash-mob routine. What is the company using to promote its products?

Viral video

Businesses can retrieve external marketing data by accessing

Web-based information services

Which of the following is a form of technology that allows a salesperson to make a professional sales presentation to group members who are located in different locations:

Webinar

Which of the following is a product strategy that marketers devise using available data:

What level of customer service to provide

Which of the following questions is worded appropriately to ensure the researcher obtains valid responses?

What, if anything, did you like best about the last computer you purchased?

Under what circumstances should a business obtain copyright protection for its intellectual property?

When it produces an original artistic work

Tying agreements are illegal under which of the following conditions:

When they reduce competition

One of the freedoms provided to individuals by the private enterprise system is the freedom to choose

Where they will work

Which of the following is a decision a company might make during the decline stage of the product life cycle:

Whether to change the product

Which of the following is one of the deciding factors in determining whether an item is a consumer or industrial good:

Who makes the purchase

Which of the following could make it difficult for you to believe that your needs are as important as the needs of others:

You are often around aggressive people

Why is it important to identify sources that provide relevant, valid written material?

To read useful information

Why do human-resource managers often post job openings on web sites such as Monster.com and CareerBuilder.com?

To recruit employees

When reaching a consensus by a formal method, why might group members prefer to use questionnaires?

To remain anonymous

Why is it important for hospitality and tourism businesses to be aware of, and react to, trends and changes in the marketplace?

To remain competitive

Why do businesses often make it possible for employees to meet during work time and participate in group discussions?

To share many different opinions

Why is it important to coordinate the elements in advertisements?

To strengthen the theme

Which of the following is a type of financial-services provider:

Commercial bank

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?

Communication skills

Salespeople are often better able to answer customers' questions about the business's products if they regularly read

Company promotions

A commission or bonus is an example of a form of

Compensation

Levels of inflation and unemployment are factors that affect __________ in the world market.

Competition

Price fixing is unethical because it restricts

Competition

Which of the following is a characteristic of private enterprise that enables consumers to buy quality products at fair prices:

Competition

A characteristic of effective prices is that they must be

Competitive

A large discount chain announced plans to open a business in a new city whose businesses adjusted their sales forecasts because of the __________ change.

Competitive

A business might reduce a product's price during the growth phase of the product's life cycle because

Competitors have introduced similar products to the marketplace

In which of the following documents is it most appropriate to include an executive summary:

Complex research report

Which of the following is not a cause of accidents on the job:

Compliance with rules

One way that the use of technology benefits the operations process is by

Computerizing the purchasing function

A message which is as short and to the point as possible is referred to as

Concise

What can a business do to determine why sales for its mid-priced product line have been steadily declining over the past year?

Conduct discovery-oriented marketing research

When employees' personal interests become more important than achieving the company's overall goals, informal political relationships might form, which often cause organizational

Conflict

As a member of the company's employee selection committee, Logan is urging the other committee members to choose his best friend Markus for an executive-management position. What ethical issue does this situation illustrate?

Conflict of interest

The primary reason why many people engage in career-oriented networking activities is to

Connect with others who might help them accomplish professional goals

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.

Controlling

Businesses often encounter ethical problems when deciding how to promote

Controversial products

One of the reasons that businesses and consumers use credit is because it provides

Convenience

What is the benefit to a customer of buying a self-cleaning oven?

Convenience

What is the device that a business's employees use to obtain information about customers who access the business's website?

Cookies

Which of the following is an activity that is performed by a business's public-relations department:

Coordinating speaking engagements for employees

What component of a print advertisement contains the sales message?

Copy

Quantex is organized as a partnership with eight equal partners. The partners would like to expand their business but limit the amount of money they could personally lose if the business were to fail. What form of ownership should Quantex consider?

Corporation

Which of the following forms of ownership is a group of individuals organized by a charter that is granted by a state:

Corporation

Operating expenses are defined as the

Costs of running a business

When salespeople demonstrate the features and benefits of goods or services, they often are able to

Create desire for products

One reason why manufacturers of retail products use brand names is to

Create favorable impressions

Accounting computer software programs increase the efficiency of accounting activities because they are used to

Create invoices and record customer payments

A primary role of the facilitator in a group brainstorming session that is generating product ideas is to

Encourage participation

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?

Encouraging the speaker

A business can protect its confidential computer information from unauthorized users by

Encrypting computer files

A primary responsibility of administrative law is to

Enforce agency regulations

One way that a salesperson can provide customer service after a sale has been made is by

Ensuring that the order is processed correctly

Which of the following is one element of a situation analysis:

Environmental scanning

Long-term unemployment may affect an individual by

Eroding his/her skills

A project manager may schedule a meeting with his project team when closing the project to

Evaluate the project's successes and obstacles

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?

Evaluating the idea

Which of the following statements is true about a marketing plan:

A good marketing plan contains the business's specific marketing goals and strategies

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:

"I'm not sure, Mr. O'Malley

Which of the following is an example of quantitative data:

"Tara graduated first in her class."

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?

$1,170

A business's balance sheet lists $4,150 in cash, $12,560 in accounts payable, $2,200 in taxes, $18,475 in machinery and equipment, and $3,025 in interest payable. Calculate the business's total liabilities.

$17,785

If the 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?

$3.50

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?

$302.05

When a government regulatory agency accuses a company of running a deceptive advertisement, the company voluntarily agrees to stop running the ad without admitting guilt. In this situation, the remedy used is

A consent order

So that customers can make appropriate buying decisions, product labels should contain

Accurate information

Which of the following situations is most likely to cause the price of corn-based products to increase:

A long drought damages the corn crops

Which of the following is a true statement regarding how economic conditions may affect a business's sales forecast:

A poor economy will hurt sales for some businesses but will help others

Which of the following is an example of causal research:

A quick-serve restaurant introduces a breakfast burrito to a limited segment of the market to determine product acceptability

As a result of increased interest in making health and fitness fun, businesses have developed many new goods and services, including interactive fitness video games and dance-based workout classes. This is an example of businesses developing new products in response to

A trend

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:

Accept her coworker and learn about the coworker's religion

One way for businesses to obtain needed information efficiently is to

Access a database

Businesses often gather the information they need quickly by

Accessing the Internet

The reason businesses usually obtain information is to apply it so that they can

Accomplish a task

Which of the following is essential to all marketing research:

Accuracy

Invention involves generating new ideas, and innovation involves

Acting on ideas

What is the type of copy used in the following print ad: Clearance Sale—Over 50% Off! Come On In And Shop Today At Mr. B's Warehouse. Where The Whole Family Can Enjoy Brand Names For Less.

Action

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.

Adaptable

Which of the following actions is most appropriate for a business to take when competitors introduce similar products to the marketplace:

Adjust its marketing strategies

A responsible employee is one who is able to __________ his/her mistakes.

Admit

Which of the following is the most visible element of the promotional mix:

Advertising

Rick believes that employees who are close to retirement lack the basic computer skills that the company's young new hires have. Rick is stereotyping individuals on the basis of

Age

The Zip-N-Go Mobility Scooter Company recently launched an advertising campaign for its Model ZP2 scooter. One of the company's advertisements shows frail, feeble senior citizens riding the scooters at a rehabilitation center. What concept is the advertisement reinforcing?

Age stereotypes

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

Age, gender, and income

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.

Aggressive

A primary reason for a business to interpret statistical findings is to

Aid decision making

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:

Alertness and assertiveness

Which of the following is an example of an employee who is meeting his/her employer's expectations:

Allison focuses on her work tasks so she can meet her deadlines

A business plans to launch a new product in the next year. When developing its promotional plan, the business should

Allocate a portion of its budget to promote the new product

The primary difference between amplified word-of-mouth marketing and organic word-of-mouth marketing is that

Amplified is planned, and organic is spontaneous

Which of the following is an example of an unethical practice related to obtaining marketing information about a competitor:

An OQR business associate poses as a security guard at the PRW Corporation's headquarters to obtain information about the corporation's business activities.

Real market opportunity occurs when

An identified want exists

Which of the following is an example of a business using direct marketing:

An online bookstore sent a personalized e-mail message that included a coupon to a customer

William is a human-resources manager who networks on a professional web site with acquaintances and former business associates for the purpose of finding new employees for his company. William is using

An online networking method for recruitment purposes

The process of coding is part of which step of the marketing research process?

Analysis

What are salespeople expected to be able to do in order to sell goods and services to customers?

Answer questions

Reaching closure is the phase in the selling process when salespeople often need to

Answer remaining objections

What type of law is violated when a supplier requires intermediaries to enter into tying agreements?

Antitrust

Pick the best response: Where do product opportunities exist?

Anywhere there is an un- or under-met need

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?

Appropriation

A business might choose to participate in a regional trade show instead of a national trade show because regional trade shows

Are usually less expensive than national trade shows

Which of the following is an example of a business that uses product class as a positioning strategy:

Associating an artificial sweetener with sugar

Which of the following techniques would help the salesperson to understand and follow the manager's instructions about operating the cash register:

Asking appropriate questions

Which of the following is an example of gathering information before making a decision:

Asking questions

Business employees who participate in group discussions should present their ideas and opinions in a(n)

Assertive manner

Joe realized that if he had taken more time to proofread his work carefully and correct his grammatical mistakes, he would have received a better grade on his report. In this situation, Joe is

Assessing a weakness to improve performance

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:

Asset-management firm

A good way to prioritize your financial goals is to

Assign each goal to a general category

When marketing researchers code the various responses on a questionnaire, they are __________ to each answer.

Assigning a numeric value

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)

Autoresponder

Which of the following is a factor that affects selling policies over which a business has no control:

Availability of raw materials

An interviewer should carefully monitor his/her tone of voice, facial expressions, and gestures when collecting marketing data from respondents to

Avoid appearing biased

Businesses often maintain records about vendors' pricing, delivery terms, and credit policies and use the information in the records to

Award purchasing contracts

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.

Balanced

Which of the following is an example of legal tender issued by the federal government:

Bank notes

The growth of e-commerce is changing the way companies do business by allowing them to

Be accessible to customers at all times

Written communications in business should

Be clear and easy to understand

To build collaborative relationships in the workplace, employees should

Be open to new ideas

What does a successful corporate brand communicate and how should it communicate them?

Benefits, consistently

A grocery store keeps track of customers' purchases through their loyalty cards. This is an example of

Big data

What interactive communication channel do businesses use to share company information with their various publics?

Blogs

Which is the most effective way for an employee to communicate interest in providing good service to customers?

Body language

Which of the following is a budgeting issue that a business considers when deciding whether to participate in a trade show:

Booth rental space

Colors, logos, and images are all elements that make up a company's

Brand identity

Which of the following has inelastic demand:

Bread

Ebony is creating her résumé to send to potential employers. Which of the following should Ebony do when describing her work experience:

Briefly describe her previous job responsibilities

Which of the following activities would normally be classified as "routine":

Brushing teeth

The component of the promotional plan that determines the funds available for promotion is the promotional

Budget

Businesses that interpret their policies to customers in an effective manner are better able to

Build a clientele

Businesses should view negotiation as a way to

Build strong relationships

Which of the following are listed as long-term assets on a balance sheet:

Buildings, vehicles, and capital equipment

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

Business defamation

An insufficient cash flow is one of the main causes of

Business failure

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

Business goals

The tactics and activities in a business's promotional plan should be based on the

Business's promotional objectives

In a market economic system, who owns most of the means of production of goods and services?

Businesses and individuals

A consumer advantage of cooling-off laws is that it allows

Buyers a limited amount of time to withdraw from a purchase agreement without penalty

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

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

By site location

Asking questions is important because it

Can clear up misunderstandings

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.

Cash; full

The government requires a business to stop running an advertisement that consumers find offensive. What type of remedy is the government using to enforce promotional regulations?

Cease-and-desist order

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:

Cell phone

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

Channel differentiation

Computer manufacturers sell their products through retailers, such as Best Buy. This is an example of the __________ function of marketing.

Channel management

What type of product information might a salesperson obtain from reading a business's promotional materials?

Characteristics

Austin has discovered that he has the ability and aptitude for communications and public relations. Since he enjoys talking in front of people and is very at ease when doing so, he has decided that he wants to go into public speaking. Austin has demonstrated

Choosing an appropriate career

The primary reason for developing a marketing-research brief is to

Clarify the purpose of the research

Accountants are legally required to follow established guidelines when preparing financial documents to ensure that the information presented is

Clear and consistent

Which of the following is considered an external cause of business cycles:

Climatic changes

Businesses try to maintain their operating equipment in good condition because major breakdowns could cause a business to

Close

What type of survey rating scale involves assigning a value to each option within a set of circumstances provided on a questionnaire?

Constant sum

The supervisor said, "Amber, I know that this is a busy time for you right now, but I really need for you to give me the weekly expense report on Tuesday morning. Because you submitted last week's report on Wednesday, reimbursement checks were delayed, and several employees did not receive payment when they expected it." The supervisor is providing Amber with

Constructive criticism

Contact lenses purchased by an individual are an example of a(n) __________ good.

Consumer

A nation's currency exchange rate is likely to increase when

Consumer confidence is high

Optimal pricing software takes which of the following into consideration when pricing a business's products:

Consumer demand

An advantage of newspaper advertising over television and radio promotion is more

Consumer interest in the ads

When conducting an environmental scan, which of the following is an economic factor that a business should consider:

Consumer spending habits

Which of the following is an example of range:

Consumers buy between four and eight widgets per week

How has the Internet enhanced a business's ability to promote its products?

Consumers can access the business's website at any time

Corporate brands are built on all the associations and experiences

Consumers have toward a business or product

One business promising to do something for another business in return for receiving compensation is an example of a

Contract

What type of law focuses on issues regarding the promises that businesses make with their customers, vendors, and other business partners?

Contract

If a business considers possible future problems during the process of developing a project plan, the business might be able to

Control costs

Employees who never take company supplies or equipment, such as pens or tools, for their own use help the business to

Control expenses

Mike is thinking about expanding his manufacturing business internationally. Which of the following is a risk he might encounter:

Dealing with cultural and language barriers

What might result if a business fails to maintain positive customer/client relations?

Decrease in sales

Employees can reinforce their company's positive image by

Delivering on the company's brand promise

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:

Demand

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:

Demand

A business might use product bundling strategies when it wants to

Deplete slow-moving items from its inventory

Which of the following is a safety procedure that businesses use to track employees who must evacuate a building during an emergency:

Designating a central meeting place for all employees

One of the most important ingredients for improving your human relations skills is

Determination

The primary reason for analyzing budget variances is to

Determine where the business is on target and where it is not

Before identifying the right people to work on a project, it is important to

Develop accurate job descriptions

What step can an organization take that will help it adapt quickly to changes in the marketplace?

Develop contingency plans

Which of the following is an activity that will help businesses keep the working environment safe for employees:

Do preventive maintenance

People are usually the most important resource because they are the ones who will

Do the work

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?

Don't bite off more than you can chew

Which of the following is the best way to handle dishonest customers:

Don't jump to quick conclusions

A memo on the bulletin board from a supervisor to staff members is an example of __________ communication.

Downward

When a customer asks how long a product will last, s/he is interested in its

Durability

Businesses rely on projects because the business environment is

Dynamic

Which of the following is a true statement about marketing-research studies:

Each marketing-research study is unique

Obsolescence, a change in local conditions, and government spending policies are examples of business risks that are classified as

Economic

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

Economic conditions

When selecting a qualified financial planner, it is important to consider his/her

Education and licensure

What information should be included on a résumé?

Education, work experience, and contact information

Employees' creative suggestions often result in changes that increase ___________ and reduce expenses.

Efficiency

When all employees are on the "same page" and working toward a common goal, businesses tend to be more

Efficient

Information usually comes in either physical form or __________ form.

Electronic

Which of the following is a computer-based time-management tool that helps employees keep track of their appointments and activities:

Electronic task organizer

One way that the use of computer technology benefits human resources management is by

Electronically processing information

Which of the following is an example of organizing business information by location:

Elizabeth structures a national insurance company's financial reports by branch

Admitting that you made a mistake can be difficult because making a mistake is so

Embarrassing

Martin keeps money in a special savings account to cover his living expenses for three months in case he loses his job or gets sick and can't work. Martin has set up a(n)

Emergency fund

Shortly after a burglar broke into their house, Mr. and Mrs. Green purchased a home security system. In this situation, Mr. and Mrs. Green's buying motive was based on __________ factors.

Emotional

Successful positioning appeals to customers'

Emotions

What communication style is most appropriate to use when you are providing a friend with personal advice?

Empathic

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?

Empathy

Who is responsible for carrying out the tactics to achieve a business's marketing strategies?

Employees

What course of action can a lender take if a debtor's account is past due?

File a judicial lien

Lamar Enterprises is using a trademark that looks very similar to the Seward Company's trademark. To prevent Lamar from continuing to use the trademark, Seward can take legal action by

Filing an infringement lawsuit against Lamar

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?

Finance company

One of the basic risks in marketing is the possibility of __________ loss.

Financial

A decrease in the availability of raw materials is an economic risk that may result in __________ for a business.

Financial loss

A financial planner advises a client to make a high-risk investment. This is an unethical action if the

Financial planner's primary motive is to earn a large commission

In business, budgets are prepared for a specific time period, usually a

Fiscal year

A business has very little information about the way its customers view its new product line. Which of the following is a marketing research method that will help the business acquire a variety of perspectives and opinions in a short period of time:

Focus group

Which of the following is a form of qualitative research:

Focus group

Which of the following is a source of primary market research:

Focus groups

What production activity evaluates products to make sure that the products the business produces meet certain quality standards?

Follow-up

When Madeline saw that a customer had slipped an iPad in his backpack and began to walk toward the store's exit, she immediately notified the police officer who was guarding the door. What was Madeline doing?

Following security procedures

A business is mostly likely to review customer invoices from the previous year to

Forecast sales

Which of the following would help a job applicant to fill out job application forms easily:

Having a personal data sheet

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?

Foreign exchange rate fluctuations

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?

Form

Using a computer-generated slideshow to highlight product information would be most appropriate in which of the following business situations:

Formal sales presentation

Determine the meaning of the following want ad: F/T Mgr. needed Immed. Two Yrs. Exp. Req. EOE

Full-time manager needed immediately

If a business lowers the price of a product for the purpose of taking business away from competitors, the result of this action often is a(n)

Gain in market share

Items most likely to be subject to an excise tax include

Gasoline and cigarettes

Rumors were flying at Bennett Corporation that the company was planning staff layoffs. Management did not address the issue with employees, so the work environment became tense and distrustful. This is an example of how grapevine communication can

Generate fear in the workplace

The single most important aspect of making a financial plan and setting goals is

Getting started now

What is one of a coach's most important tasks?

Giving feedback

What activity might be viewed as unethical selling behavior?

Giving gifts to customers

Because Jasmine is an outside sales representative, she spends a lot of her time driving her car to call on her clients at their offices. What form of technology may help Jasmine avoid traffic jams and prevent her from getting lost?

Global positioning system

In some cultures, creating relationships during business negotiations is key; in other cultures, negotiators want a signed contract. This illustrates cultural differences in negotiating

Goals

Increasing membership by 25% during the next year might be one of the __________ of a health club.

Goals

A business should communicate inventory needs with its vendors before a planned sales promotion to ensure that the vendors

Have the products available to ship

Which of the following skills will most likely help a person to obtain a better job in the field of marketing and advertising:

Good interpersonal skills

What is true about personal vision?

Good visions have permanent results

Which of the following is a customer-relations factor that often keeps customers coming back to a business:

Goodwill

Jane wants to find out the estimated growth potential for marketing professionals over the next 10 years. Which of the following sources will provide Jane with the most relevant and up-to-date statistics:

Government web site

How food products can be used generally is determined by their

Grades

Packaging a product in a biodegradable or recyclable container is one way a channel member can participate in the ethical practice of

Green marketing

Which of the following statements is true regarding the use of group creative-thinking techniques to facilitate the idea-generation process:

Group members most often generate new ideas by altering or building upon another idea

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?

Groupware

During what phase of the product life cycle is a business most likely to reduce its prices because copycat products have entered the marketplace?

Growth

During which stage of the product life cycle should a business focus on the points of difference between its product and its competitors' products?

Growth

What terms-of-sale policy assures the buyer that the product will perform as expected for a certain amount of time or the seller will replace the product?

Guarantee

A business should strive to keep its cash conversion cycle as short as possible so it

Has cash available to use

Employees who are unable to respond to questions about the company's goods or services can affect the customer's

Image of the business

Which of the following is an example of ethical behavior in marketing-information management:

Implementing procedures to protect the privacy of survey respondents

One way that advances in technology are impacting the product/service management function is by making it possible for businesses to

Improve existing products

Car break-ins often result because drivers leave their laptops, smartphones, and wallets on the car seat, making the items highly visible to potential thieves. As a result, an automobile manufacturer designed a hidden compartment in the front passenger seat for drivers to store their valuable items. This is an example of an idea generation strategy in which the business

Improved an existing product to solve a common problem

Which of the following statements contains the most relevant information to include in a business report about the specific market share of computer manufacturers during a particular time frame:

In 2009, Hewett Packard held 29.1 percent of the market share, followed by Dell, which held 21.9 percent.

The basic purpose of writing a letter of application concerning a job opening is to

Interest the employer in interviewing you

Many presentation software programs allow users to

Include voice narration

Which of the following is a possible weakness associated with a secondary-data source:

Inconsistent collection method

According to the Keynesian theory of unemployment, the best solution for unemployment is to

Increase demand

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

Increase sales

During periods of economic expansion, businesses are likely to

Increase their production

What might result if a business's merchandising budget called for purchasing more goods than customers wanted?

Increased costs

Which of the following is an example of how building a clientele benefits the business:

Increased sales volume

Employees who are unable to manage their time effectively often experience

Increased stress

What is the term for higher levels of output resulting from putting more workers on the job?

Increasing returns

Indirect channels of distribution are the only channels that involve

Intermediaries

If a situation analysis reveals that the company has a comprehensive, current, and flexible database system, it has identified a(n)

Internal strength

A business's expense reports and cash-register receipts are sources of __________ research data.

Internal, quantitative

What is the benefit of shared vision to an organization?

It serves as a guide for decision making

Which of the following statements is true about a mixed economy:

Individuals and businesses are the primary economic decision makers, and the government helps regulate the system

To build and repair bridges, Campbell Construction Company buys steel beams from Horton Manufacturing. In this situation, Campbell Construction Company is the

Industrial user

By reading trade journals, business professionals can learn about

Industry trends

One advantage of using the Internet for promotional purposes is that

Information is available on demand

What do businesses often develop to be able to store and analyze data for the purpose of making business decisions?

Information systems

Which of the following is a use of product promotion:

Informing customers about product features

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?

Initiative

Milford Glassworks encourages all of its employees to provide input for system improvements and suggestions for product ideas. What strategy is Milford using to adapt to changes in the marketplace?

Innovation management

When a customer is willing to purchase only one specific brand, this is referred to as brand

Insistence

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

Inspection

Determine the type of and purpose for promotion used in the following example: Procter and Gamble donates thousands of bottles of its Dawn dishwashing soap to wildlife conservation programs to clean animals that are affected by oil spills and other ecological hazards.

Institutional; To indicate the company's interest in environmental issues

Which of the following is the component of a questionnaire that guides respondents through the survey process:

Instructions

The difference between service providers' and manufacturers' operations activities is that service providers produce __________ outputs.

Intangible

Technology has helped improve the distribution process by utilizing __________ among channel members.

Integrated information sharing

An individual who lives by an established set of personal ethics is said to have

Integrity

What type of property is a business protecting when it registers its trademark?

Intellectual

What technological advancement has had the greatest impact on the travel, hospitality, recreation, and insurance industries?

Internet

Which of the following is available to all people around the world who have access to a computer that has connectivity:

Internet

Which of the following best describes the relationship of promotion and marketing:

Interrelated

What is a company's private computer network that allows authorized users to share information?

Intranet

During which stage of the product life cycle is the product failure rate the highest?

Introduction

What type of software program do businesses use to monitor and order the items they need for resale?

Inventory management

What is a benefit of investing in mutual funds?

Investors have access to a fund manager's expertise

Businesses can determine their customers' ordering frequency by reviewing

Invoices

An example of a natural resource is

Iron ore

FRUGGING is an activity that presents marketing researchers with legal issues because it

Is a deceptive practice

A print advertisement's headline, graphics, signature, and copy should coordinate with one another so that the message

Is clear

An effective executive summary

Is written for people who won't read the whole document

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?

It can be incomplete

What is the benefit of clearly stating a research problem or issue?

It helps to keep marketing research focused and relevant

How does exploring different kinds of activities help to define your own personality?

It helps you to determine what you prefer

Which of the following is an advantage of secondary research:

It is quick

Which of the following is a disadvantage of weak currency:

It makes acquiring foreign companies more expensive

What is an advantage to businesses that use product-bundling strategies?

It often reduces customers' comparison-shopping activities

What is the importance of the computer hard drive in a computer system?

It permanently stores the computer program files and data

Why will it benefit you to learn as much as possible about a prospective employer before you go for a job interview?

It prepares you to ask good questions

Which of the following is a true statement regarding information management:

It's necessary for making even small business decisions

What tends to occur when a country is experiencing political instability?

Its currency loses value

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

Its target market

Which of the following situations involves the use of negative tactics to build political relationships within the organization:

Jason accepts credit for Tori's advertising campaign idea during a meeting with management

One of the advantages of discussing career opportunities with employees in specific fields is that you often obtain information about

Job requirements

Which of the following statements is true regarding joint ventures:

Joint venture arrangements are usually short-term relationships

Which of the following is an example of job shadowing:

Kayla follows the public-relations director of a local company to learn about his/her career

Which of the following is an example of unethical business behavior in relation to information management:

Keeping employees' payroll records in unsecured computer databases

Purchasing can help manufacturing businesses to sharpen their competitive edge by

Keeping their prices down

When taking notes during a seminar, a businessperson should write down

Key points

What do advertising regulations usually require businesses to disclose about the products they advertise?

Limitations

A benefit of using an electronic calendar to prepare schedules is that it allows employees to

Manage their time

Which of the following would be an instruction that promotes responsible behavior by employees:

Know your job tasks, and perform them well

A group of workers who have joined together for a common purpose is called a(n)

Labor union

Because Elise paid her monthly credit-card bill on April 16 instead of April 4, the credit-card issuer added a $25 charge to her May billing statement. This is an example of a(n) ___________ fee.

Late

What type of question should be avoided when designing a questionnaire?

Leading

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

Why do businesses try to build a clientele?

Leads to repeat business

People with a positive attitude are open-minded, which helps them to

Learn new skills

When Kaitlin walked into the office conference room, she saw a coworker speaking on the telephone. To respect her coworker's privacy, Kaitlin should

Leave the room immediately and shut the door

What should you avoid doing when filling out an employment application?

Leaving blank spaces

Copyrights and trademarks are examples of a business's __________ records

Legal

What do all businesses need to be aware of with regard to the accounting process?

Legal considerations

One of the benefits of negative feedback is that it

Lets you know what is expected of you

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)

Liability

While filling out a customer-satisfaction survey, Ashley is asked to rank her level of agreement with the statement, "The sales representative was friendly and courteous." Out of the five options presented, Ashley's response is "strongly agree." This is an example of a _________ rating scale.

Likert

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?

Limited resources

Fairlawn Manufacturing will replace or repair the motor of its Cut-rite riding lawnmower for one year after the purchase date. This is an example of a(n)

Limited warranty

When creating web pages, a business should be sure to include a __________ the home page.

Link to

To prevent people with severe peanut allergies from accidentally consuming food items prepared in peanut oil, many governments require food manufacturers to

List all ingredients on the products' packaging

Which of the following is an activity that a firm's public-relations department would perform to influence legislation:

Lobbying government officials

An important aspect of maintaining positive public relations is communicating with external audiences such as

Local businesses, charitable organizations, and customers

Which of the following is an example of a customer engaging in habitual buying behavior:

Lynnette buys paper for her computer printer at the local office-supply store

An athletic facility purchases a sports equipment distributor's directory for direct advertising purposes. The purchased information is often called a(n) ___________ list.

Mail-response

To understand consumers' buying habits over time, marketing researchers might ask a sample of the population to

Maintain a product diary

Many business people are required to take continuing education classes to

Maintain their professional certifications

When writing informational messages, business employees should explain the situation and include sufficient data for the recipient to be able to

Make a decision

Getting a good recommendation as an honest employee is most likely to help a worker to

Make a job change

Knowing your personal strengths and weaknesses helps you to

Make informed decisions about your future

One of the roles of ethics in finance is to encourage business employees to

Make the right decisions

A reason that many companies update or alter existing products is to

Make them competitive with similar products

Samantha manages the marketing department for a large company and has just hired a new employee to run the company's cooperative advertising program. The most appropriate way for Samantha to advise staff members that a new employee will be joining their team is by

Making an announcement during the weekly departmental meeting

Which of the following actions by employees might result in additional expense for a business:

Making personal use of company property

Which of the following is an example of a business coordinating distribution with the marketing function of promotion:

Making sure products are in stock before advertising a sale

To protect the integrity of the marketing information they gather, businesses should avoid

Manipulating the research

When using mind mapping to generate product ideas, you begin by writing down the main problem or

Market opportunity

Simon wants to know how well his company did last quarter in relation to other companies in its industry. He needs to conduct a

Market share analysis

The marketing function that best enables a company to make informed decisions about what to sell is

Marketing-information management

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:

Marley and Winston Commercial Bank

During what phase of a product's life cycle is a business most likely to develop advertising campaigns to remind customers about the product or promote features added to the product?

Maturity

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.

Maturity

One of the disadvantages of using nonverbal communication is that it

May not be interpreted accurately

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

Media

A marketing research firm asks the participants of a study to record information for one month about the radio stations that they listen to. This is an example of acquiring marketing data from

Media-use diaries

Which of the following is an example of formal communication in the workplace:

Melinda meets with her manager to discuss a possible promotion

Which of the following is a type of simple written report that usually is distributed to employees within a business:

Memorandum

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

Mention any mutual contacts you have

Which of the following is a leading question:

Mia is a great manager, isn't she?

A plant manager or a department head would be an example of which level of management?

Middle

Which of the following is an example of a simple written report that a business might prepare on a regular basis:

Minutes of a staff meeting

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

Misrepresentation

An effective marketing plan usually contains a section that explains the marketing

Mix

The assortment of merchandise that a firm sells is called its product

Mix

A business that conducts research and finds that most of its customers visit the business four times a week has identified the

Mode

A marketing survey revealed that four out of seven residents in the greater metro area prefer Lupi's Pizza to Morelli's Pizza and Renaldo's Pizza. What measure of central tendency does this example represent?

Mode

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?

Mode

Which of the following is an example of an effective subject line for a professional email:

Mtg. rescheduled for 3 p.m

The salesperson says, "Mrs. Jones, the Model 2XY upright vacuum cleaner has attachments that allow you to remove dust from furniture, draperies, and ceiling fans. It also has a steamer that deep cleans carpets." This is an example of a salesperson describing the product's

Multiple uses

A business should decide at the beginning of a marketing-research project how much it can afford to spend in order to

Narrow the focus of the research if necessary

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

Natural resources that are needed to produce them

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.

Negative

Salespeople who withhold negative product information from customers might be guilty of

Negligence

Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management?

New-product development

What communication channels is a corporation's public-relations department most likely to use to maintain positive relationships with shareholders?

Newsletters, annual reports, and the company's website

What is a type of company promotional material that can be used as a source of information for selling?

Newspaper advertisements

One reason why marketing-information managers often monitor their competitors' web sites is to

Obtain data about new products

A major credit-card company has hired a marketing-research firm to conduct a survey regarding the use of consumer credit. Would it be considered ethical to use the database information collected in a direct marketing campaign?

No, businesses should not undertake any non research activities involving data collected

Susan's father receives veterans' benefits, and her grandmother gets Social Security. Are these payments counted in GDP?

No, these are transfer payments

An individual returns a marketing-research survey that contains unanswered questions. This is an example of a(n)

Non-response error

When meeting with businesspeople from other countries, it is important to understand social differences, such as bowing, handshaking, and spatial comfort, which are often called

Non-verbal cues

To help her remember the most important points of her business presentations, Isabella likes to use

Note cards

The use of electronically bar-coded price tags on goods has increased the

Number of customer self-checkout stations

Software that allows for real-time analysis of marketing information enables businesses to search many databases and identify

Obscure relationships

To obtain reliable, valid marketing-research data when conducting personal interviews, researchers must make sure that the interviewers are

Open, friendly, and nonjudgmental

Businesses often use spreadsheet software programs to analyze their

Operating expenses

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?

Organic marketing

Writing key points on notecards and then placing the cards in order of their importance is one way to

Organize information

One way that employees can provide efficient, quick service to customers is by being

Organized

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:

Physiological

The capability of combining graphics, text, animation, and sound is a unique characteristic of __________ software programs.

Presentation

According to the law of diminishing returns, what aspect of production decreases when fixed resources have reached their maximum level of efficiency?

Outputs

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?

Outsourcing the task

What form of currency is issued by the federal government?

Paper money

Many businesses that have a small sales staff and a limited advertising budget often consider it worthwhile to

Participate in trade shows

One reason why it is important for businesses to use public-relations activities to reach external audiences is to

Pass on positive information

Which of the following provides government protection of business property:

Patents

Patrick has taken his car to Parnell's auto repair shop for several years. He feels comfortable taking his car to Parnell's because the employees perform their work competently, and the business charges a reasonable fee for the work. In this situation, Patrick's buying motive is based on

Patronage

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?

Performance recognition

What do business owners consider when they select a business ownership structure?

Personal circumstances, financial needs, and the type of business

What should you develop to persuade others to believe what you say?

Personal credibility

Hannah studied international business in college and has worked for various international corporations. Over the years, she met many businesspeople who did not understand how cultural differences affect their business relationships. Hannah decided to start her own consulting firm to advise businesspeople about the cultural issues that they may encounter when doing business overseas. Hannah identified a product opportunity on the basis of

Personal expertise

Which of the following is a true statement about safety hazards in the workplace:

Personal habits can create safety hazards

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

Personal interactions

Which of the following research methods is appropriate when a business wants to obtain in-depth, qualitative information from a few customers:

Personal interview

What element of the promotional mix is most appropriate to use for a complex or technical product that is difficult to explain?

Personal selling

Rosa Sanchez is a Latin-American businessperson who is meeting with a potential client, Mr. Devonshire, who is from London, England. When Rosa leaned in to shake Mr. Devonshire's hand, he backed away. This is an example of a cultural issue related to

Personal space preferences

The specific goal of product promotion is to

Persuade consumers to buy a particular good or service

What element of the marketing mix is most concerned about creating convenience for customers in relation to the product's accessibility to the market?

Place

One way to provide good customer service is to have sufficient inventory available when the customers

Place their orders

Many food products carry labels that show the U.S. Recommended Daily Allowances, or RDAs. RDAs help consumers to

Plan healthy meals

As a result of ongoing product updates and changes, businesses must address ethical issues associated with

Planned obsolescence

An author's new book is an example of a

Platform project

What is an indirect, mechanical-observation data-collection method that a business can use to obtain accurate information about the specific types of products that its customers are buying?

Point-of-sale scanners

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?

Points of difference

When positioning its corporate brand, it is important for a company to evaluate its competitors so it can determine

Points of difference

Ensuring that customers have the correct perception of a product is one of the goals of product

Positioning

What strategy can make or break a business's product mix?

Positioning

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.

Positioning

A company should consider the target market's needs and wants, when it

Positions its corporate brand

Ideally, in business, feedback should be

Positive and negative

For legal purposes, a business that collects marketing information from its online customers should

Post its privacy policies on its web site

During a job interview, it is important to monitor nonverbal cues including your

Posture and eye contact

During a board of directors meeting, the company's CEO said, "Based on last year's sales data and changes in economic conditions, I believe that sales will increase next year." In this situation, the CEO has provided the board members with a(n)

Prediction

Although Sara's favorite soft drink is Diet Coke, she will order Diet Pepsi if a restaurant does not serve Diet Coke. This is an example of brand

Preference

Which of the following is a technique that a business might use to evaluate the results of a project it completes for a customer:

Prepare a satisfaction survey

What is a technique that often helps businesspeople to write effective business letters?

Preparing outlines

A business's finance function may be compromised by groupthink because the practice is likely to

Pressure employees to conform under questionable circumstances

The owner of a real estate firm wants to increase housing sales next year by 15% over the current year. What element of marketing would be involved in attaining this goal?

Price

Which of the following is no longer the determining factor in customers' buying decisions for many products:

Price

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?

Price fixing

Which of the following is a type of sales promotion that provides customers with immediate rewards:

Price-off deals

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 _________.

Primary, observing

A hospital technician developed a system to stabilize small children when taking x-rays. The system improves the technician's ability to obtain clear x-rays more quickly because the patients cannot squirm or move around as much. The system includes visual entertainment for patients, which helps keep them calm and quiet. The system is now being used in hospitals worldwide. This is an example of a product opportunity that evolved from a

Problem

A company discovers a way to reduce the time it takes to produce a good. This is an example of __________ innovation.

Process

A focus on how things are done, rather than just outcomes, is known as

Process orientation

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?

Producer to industrial distributor to user

A written explanation of a proposed research project is an example of a

Research brief

What should accountants demonstrate when collecting accounting information and preparing financial documents?

Professional integrity

Last year, Ryan earned a salary of $32,500, and paid 15% in federal income taxes. This year, Ryan received a promotion, and his salary is now $36,750. Due to his salary increase, Ryan must pay 25% in federal income taxes. This is an example of a __________ tax.

Progressive

Before sending a professional e-mail message to a business associate, a businessperson should

Proofread the message for spelling and grammatical errors

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:

Property

The primary reason that the government regulates the ways in which healthcare organizations handle medical records is to

Protect the patients' privacy rights

Which of the following is an example of a current trend in business:

Protecting consumer privacy

What can businesses do to reduce risks associated with personal injuries and product damage due to improper product use?

Provide detailed written instructions

You are more likely to persuade others to take action if you

Provide supporting facts

Which of the following is an example of production:

Providing home security

A basic principle of procedural due process involves __________ before taking action.

Providing notice

Which of the following is a way that marketers can use data to "follow up" on any problems or issues with a product:

Providing salespeople with additional training

One way that a manufacturer can foster positive relationships with its channel members is by

Providing training programs

When a local athletic apparel store sells shoes, clothing, and accessories that are designed specifically for runners, it is using ____________ segmentation.

Psychographic

A snack-food company donates energy bars to runners who are participating in a race to raise money for cancer research. The business is engaging in a(n)

Public-relations activity for a charitable cause

When managing a project, the first activity is for the project leader to

Set goals

A business that sells inexpensive goods probably would use which of the following promotional media:

Radio

What form of technology helps businesses track their production supplies and resale products in real time?

Radio frequency identification

What form of technology allows channel members to track a product's movement through the supply chain in real time?

Radio frequency identification (RFID)

Survey respondents indicated that they buy potato chips at the supermarket between three and five times per month. This is an example of

Range

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?

Read step one and then perform step one

Which of the following is an example of an employee making good use of free time during the business day, while on a flight to a sales meeting:

Reading business reports

Which of the following is a characteristic of individuals who have self-confidence:

Realizing that mistakes are a part of personal growth

A primary disadvantage of keeping business records in digital formats is that

Records become inaccessible due to obsolete technology

Which of the following may result when products fail to meet government standards:

Redesign of packaging

After a few hours of working nonstop on a report to meet a deadline, Thomas starts to panic, wonders if he will be able to finish on time, and loses his focus. So, he decides to take a short break and go for a walk outside the office building. When he gets back to his desk, he is able to refocus and finish his report. Thomas's break helped to

Reduce his stress

Which of the following is most likely to result if workers fail to meet time standards:

Reduced number of products available

What do lean operations involve?

Reducing waste throughout the entire supply chain

When trying to persuade others, it is often helpful to use stories and anecdotes because they

Reinforce your message

Which of the following expenses should Charlene categorize as a fixed cost:

Rent

All employees can help maintain a safe work environment by

Reporting noticeable hazards to management

Which of the following is true about a survey-sampling plan:

Represents a larger group

Negative word-of-mouth advertising due to unresolved customer complaints can cost a business its

Reputation

What is the government likely to do, if it determines that a company has engaged in deceptive advertising?

Require the company to place corrective advertising

Which of the following departments in many businesses is responsible for generating product ideas:

Research and development

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.

Respecting the privacy

What type of marketing-research error occurs when the researcher interviews unqualified people?

Respondent-selection

Which of the following individuals chooses goods for resale, surveys consumer trends, and rates past performance of products and vendors:

Retail buyer

Which of the following is categorized as owner's equity on a company's balance sheet:

Retained earnings

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.

Return

What a business earns from the sale of goods and services is

Revenue

Which of the following is an example of a response error:

Rosanna checks two response options for one question on a paper questionnaire

Which of the following do businesses often expect employees to make on their own:

Routine decisions

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?

SWOT analysis

What component of a marketing plan might a business use to summarize the results of its situation analysis?

SWOT analysis chart

What information is usually best to discuss in person rather than to provide in an employment application?

Salary requirements

What type of information is it acceptable to leave out of a job application?

Salary requirements

When Lara purchased a sweater priced at $35.00, the dollar amount of her purchase totaled $37.43. What type of tax did Lara pay?

Sales

A retailer that overcharges customers for small items at the point of purchase may be engaging in the unethical practice of

Scanner fraud

Your company wants to find out why sales are declining at one of its three locations. As a marketing specialist, you think the reason may be that some customers have moved out of the area. To support your idea, a popular source of information you use is

Secondary data from company records

Your ability to empathize with someone else is limited by the number/nature of your experiences and by your

Self-understanding

For most businesses, the ultimate goal of using promotion is to

Sell goods or services

Which of the following marketing strategies is appropriate for the decline stage of the product life cycle:

Selling the product online

Which of the following is an example of price discrimination:

Selling the same quantity of the same product to different customers for different prices

The details regarding quotas for each salesperson would be outlined in what type of selling policy?

Selling-activity

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

Service information

When using the systematic random sampling method, marketers must determine the

Skip interval

What presentation software function allows the user to move and change the order of existing slides?

Slide sorter

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:

Slotting allowances

What form of technology are salespeople using that eliminates the need to carry a laptop and personal data assistant while making sales calls?

Smartphone

When a business sets up a Facebook account to communicate with its existing and potential customers, what technological tool is it using?

Social networking

If a pharmaceutical company sets an unnecessarily high price for a lifesaving drug, it is behaving in a(n) __________ manner.

Socially irresponsible

Which of the following are types of products for which producers are most likely to use mass marketing:

Soda, personal computers, and toothpaste

Which of the following is an important component of computer systems:

Software

Marketable goods and services are often developed because an existing problem needs to be

Solved

What does an enclosure notation at the bottom of a business letter signify?

Something is being sent with the letter

A primary advantage of using internal databases to store marketing information is the ability to

Sort and classify different types of customer information quickly

When identifying risks that a business faces, management should focus on the

Sources of the risks

A company works with the Red Cross to help with a hurricane relief effort. What goal does this illustrate?

Supporting a cause

What activity is a marketing researcher performing when s/he counts the responses to a survey?

Tabulating data

What component of the promotional plan describes the specific tools that the business will use to promote its goods and services?

Tactics

Which of the following is the best approach to solving most problem situations:

Take plenty of time to handle the problem

Visualizing yourself as you would like to be is a technique that

Takes time and practice

What should employees who are learning a new skill avoid doing?

Taking shortcuts

Which of the following types of products usually require the least effort for salespeople to sell:

Tangible

The main reason that a sportswear retailer decided to use direct-mail promotion was because it would reach the store's

Target market

A store manager decides that employees' job duties will be broken down in the following manner— salespeople, cashiers, display workers, and stock people—each with specific duties. This is an example of specialization by

Task

Which of the following elements is part of a business's external environment?

Tax code

Which of the following factors has aided the most in creating a global business environment:

Technology

An ongoing trend that affects how efficiently businesses operate is

Technology improvements

Governments that have passed "do not call" laws are restricting promotional activities related to

Telemarketing

Which of the following is a common reason for horizontal conflict among distribution channel members:

Territorial boundaries

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?

Test marketing

Businesses are being socially responsible to their customers when they

Test the safety of their products

Which of the following is an ethical issue that affects many businesses' product/service-management function:

Testing on animals

What is the most appropriate closing to include in a response to a customer's e-mail inquiry for product information?

Thank you for your interest in XWQ products

Which of the following is an example of a business that is most likely violating a safety regulation:

The Hoffman Supply Company blocks several of its doors with furniture and boxes

Using the APA writing style, Ella compiles a list of the books, web sites, and journals that she used when developing a complex research report. What is Ella developing?

The bibliography

Which of the following statements about understanding your spending habits is true:

The first step in creating a financial plan

Which of the following affects the amount of data that will be collected in a marketing-research project:

The method of data analysis to be used

When developing an executive summary for a written report, the writer should include

The most important points

The most important reason why workplace accidents which do not result in injuries should be reported to supervisors is because

The next accident could result in an injury

Why is it important to build in a safety net, or padding, when identifying resources?

To plan for the unexpected

A project's quality-management plan includes strategies to ensure the quality of the deliverables as well as the quality of

The project itself

Businesses may price goods with a higher-than-average markup when

The risk of markdown is great

Mr. Martin said, "I want to return this software and get my money back. Before I bought it, your salesperson told me that it was compatible with my computer, but it isn't." What is the reason for Mr. Martin's complaint?

The salesperson provided inaccurate information

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

The time value of money

Providing marketing information is an important channel activity. Businesses rely on marketing information to determine

Their target markets' needs and wants

A purchasing manager is most likely to send a request for quotation (RFQ) to obtain bids from vendors when

There are many qualified sellers

Which of the following statements is true about express contracts:

They are stated orally or in writing

Which of the following is a true statement about secondary dimensions of diversity:

They can change over time

Which of the following is NOT a condition that must exist for channels to be effective:

They must have at least five members

Which of the following is a true statement about visions:

They require hard work and determination

When a business collects marketing information from its customers, what should it consider about its consumer-privacy laws?

They vary by jurisdiction

Which of the following is a guideline for employees to use in communicating with coworkers:

Think about what they want to say before they say it

Why must a business be very careful about eliminating products?

To prevent damaging the company's image

Which of the following is an example of price fixing:

Three computer-chip manufacturers agree to sell their products within a certain price range

Which of the following is a circumstance that is most likely to cause interest rates to increase:

Tight money supply

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.

Time

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

Time

Which of the following is an aspect of channel management that impacts customer service?

Timeliness

Which of the following is not a reason to use contraction as a product mix strategy:

To attract a new target market

Why is it important for businesses to understand the legal considerations for finance?

To avoid penalties

What is one way that a business might use marketing information?

To develop new products

Why do companies use brands for their products?

To differentiate their products

What is one reason why businesses write informational messages?

To explain new policies

Which of the following is the primary reason that employees who answer a business's telephone should try to connect each call correctly:

To give good customer service

What is one reason that a local business would keep records of all its customer-sales transactions?

To handle returns

Why is it important for management to evaluate project results?

To identify and solve problems

Which of the following is the most important reason for creating a written plan for a marketing-research project:

To keep the project on track

Why do many businesses develop programs and activities to help reduce employee stress?

To maintain productivity

Which of the following is a purpose of the competitive bidding process:

To obtain lower prices from bidders

Trade publications are used by businesses for which of the following reasons:

To obtain up-to-date information

Which of the following is an example of a company procedure:

To order supplies, employees must complete the R-3 form and then give it to their immediate supervisor

Businesses usually maintain customer sales records that contain information about the

Types of products being purchased

In relation to channel management, which of the following actions should the manufacturer take to effectively introduce a new product to the marketplace:

Use appropriate promotional techniques to inform channel members

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?

Use computer passwords to limit access to certain data

One reason advertising prescription drugs online might be considered an ethical issue is because the advertisements might persuade customers to

Use drugs they do not need

What can a pharmaceutical manufacturer do to help ensure that its pain reliever and allergy medications are safe for consumer use?

Use protective packaging

What is an advantage to companies that use integrated software programs?

Users can combine information from different applications

Mason Publishing included the following statement in a newsletter that was sent to its sales staff about its new electronic reader: CEO Lucinda Marcelli said, "This product supports our ongoing efforts to revolutionize the ways in which students across the country learn." This is an example of

Using a quotation to communicate product information

LMN Company is losing market share to the RST Corporation. LMN can quickly obtain useful information about the RST's product offerings by

Visiting RST's web site

What data-collection method can be used to obtain product information during the point-of-purchase process?

Volume-tracking scanner

What type of debtor-creditor relationship involves the acquisition and use of credit cards?

Voluntary

One reason why it is important to coordinate the headline and illustrations in an advertisement is to make the reader

Want to read the message

Which of the following is an example of an internal source of secondary marketing data:

Warranty agreements

Which of the following is a benefit of channels of distribution:

We can more easily obtain products from all over the world

Why is it sometimes difficult to be honest about strengths?

We don't want to brag

Ramona took some computer classes at the local community college to keep up with the technological changes in the workplace. As a result, Ramona was promoted to executive manager because she possessed the technical skills her employer needed for the position. The primary reason Ramona was promoted was due to her

Willingness to learn

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?

Willingness to take risks

What should an employee do when s/he accidentally spills coffee in the tile hallway?

Wipe it up immediately

An employer may be liable for an employee's tort when the employee's actions occur

Within the scope of his/her employment

What type of software program do businesses use to create text documents?

Word processing

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:

Word processing

Holding a telephone conference call is an efficient way for multiple employees to communicate at the same time when they

Work in different cities

Determine if the following situation is an illegal selling practice: A salesperson says to a customer, "My business will buy all of its janitorial supplies from your company if you buy all of your office furniture from my business."

Yes. The salesperson is suggesting reciprocity, which is illegal if it hinders competition

Which of the following is a question that a salesperson is most likely to ask during the reaching closure phase of a sale:

Would you like to use your credit card to pay for the camera?

In the time-management process, what should you do when you are identifying your objectives?

Write them down

Which of the following are public-relations activities:

Writing press releases, distributing company newsletters and sponsoring events

When businesses need to formalize the information provided to employees, customers, or other businesses, they often use __________ communication.

Written

During a brainstorming session, should participants be allowed to add new ideas to the list that are based on another group member's idea?

Yes, because other participants' ideas can trigger new ideas