Business and Tech Final 2018

7. Which pricing objective focuses on generating the highest possible profits? A. Increase market share B. Maximize profits C. Match the competition D. All of the above

B - Maximize profits

10. You need to schedule an international conference call with co-workers that include managers and employees. You should schedule the call at a time that limits the inconvenience to: A. Only the managers B. Other participants C. Your schedule

B - Other participants

16. Human Resources main focus is: A. Customers B. People C. Management D. Finances E. Manufacturing

B - People

6. What is the term that refers to the functions used to move products through the channel to the consumer? A. Breakeven analysis B. Physical distribution C. Channel of distribution D. Promotion

B - Physical distribution

1. What type of plan does Human Resources assist in developing that encourages employee growth within a company? A. Staffing plans B. Promotion plans C. Compensation plans D. Evaluation plans

B - Promotion plans

3. What is the term for unprocessed natural resources that are refined into end products? A. Component parts B. Raw materials C. Supplies D. Process materials

B - Raw materials

4. Which of the following is typically NOT lead by a company's Human Resource department? A. Organizing marketing efforts B. Training of employees C. Guide employee transitions D. Recruiting new employees

A - Organizing marketing efforts

9. Operations management is the management of: A. Processes that create products B. Testing to ensure quality products C. Human resources in a company D. Marketing of the company's products

A - Processes that create products

2. Which of these activities is NOT included in physical distribution? A. Selling B. Managing Inventory C. Transportation D. Warehousing E. Order Processing

A - Selling

17. Your company is finally opening an office in Dublin, Ireland. Your boss has asked you to perform the grand opening ceremony at this office. What is the best way to impress your new Irish colleagues? A. Smile and chat with them casually B. Talk during the silent period C. Have contacts introduce you D. Tell them all about your credentials and success

A - Smile and chat with them casually

6. A group of Japanese investors is visiting your office. During a meeting there is a long period of silence. What should you do? A. Stay quiet until they break the silence B. Talk to your coworkers C. Ask if they have more questions D. Leave the meeting so they can talk privately

A - Stay quiet until they break the silence

12. What is the term for a group of people who are most likely to buy a product? A. Target market B. Consumer market C. Market segment D. Market mix

A - Target market

5. Your boss has asked you to pick up one of the employees traveling in from New Delhi, India at the airport. How should you greet her to show your appreciation for her culture? A. Use the namaste B. Hug her C. Give her a high five D. Bow deeply

A - Use the namaste

10. Which of these products is a service? A. Veterinary care B. Pet food C. Medication for a pet D. Grooming brush

A - Veterinary care

4. An example of leading and directing would be A. being promoted to senior manager. B. being named the top employer in the state. C. using alarms, alerts, and reminders. D. inspecting products to ensure quality.

A - being promoted to senior manager.

17. An example of a short-term plan would be A. hiring staff to support the holiday rush. B. graduating from college. C. being named the top employer in the region.

A - hiring staff to support the holiday rush.

6. Which of the following is true of resumes? A. A personal cover letter should be included with a resume. B. A resume is not necessary if you completed an application. C. The formats of electronic and hard copy resumes are the same. D. An objective tells an employer what the applicant learned in school.

A - A personal cover letter should be included with a resume.

7. Most online conferencing tools provide the following functionality EXCEPT: A. Advertising B. Chat C. Screen sharing D. Voting

A - Advertising

16. Your boss has asked you to attend an important meeting for her in Dusseldorf, Germany. What is the best way to impress the Germans attending the meeting? A. Be prepared to answer lots of questions B. Tell them all about your credentials and success C. Smile and chat with them casually D. Have contacts introduce you

A - Be prepared to answer lots of questions

3. When a problem is found in a product, which is most likely to provide the best long-term outcomes for a company? A. Being open and honest with customers B. Protecting the company's interests C. Fixing the problem and publicly blaming the person responsible D. Fixing the problem before reporting it to customers

A - Being open and honest with customers

2. Which of these terms refer to the visual part of a product's identity? A. Brand mark B. Generic name C. Goods D. Brand name

A - Brand mark

3. What is the term for the path that the product follows from the producer to the customer? A. Channel of distribution B. Public relations C. Physical distribution D. Market share

A - Channel of distribution

5. One airline institutes a new charge for luggage, and the other airlines each begin to charge for this same item. In this scenario, what is the main factor affecting the price of the product? A. Competitor's price B. Cost of making the product C. Cost of running the business D. Demand for the product

A - Competitor's price

8. Which market classification includes people who intend to use or benefit from products and do not buy them to make a profit? A. Consumer market B. Business-to-business market

A - Consumer market

8. Which pricing method sets the price of the product on what the customer is willing to pay? A. Demand-oriented pricing B. Competition-oriented pricing C. Market-share pricing D. Cost-oriented pricing

A - Demand-oriented pricing

7. What is the term that refers to adding value to a product by making it more useful? A. Economic utility B. Comparison shopping C. Market segment D. Marketing plan

A - Economic utility

11. In general, what is a business's most valuable resource? A. Employees B. Buildings C. Tooling D. Money

A - Employees

4. What type of resume is suitable for people who are just entering the workforce? A. Entry-level B. Chronological C. Contemporary D. Professional

A - Entry-level

1. Which of these statements about market segmentation are TRUE? A. It is the basis for target marketing. B. The same factors are used to analyze both business and consumer markets. C. The process involves careful analysis of a range of products. D. All of the above

A - It is the basis for target marketing.

3. Which is an advantage of a matrix organization? A. Leverages expertise of employee where needed B. Focuses on a single decision maker C. Makes it harder to expand the organization D. Allows organizations to be more self-sustaining

A - Leverages expertise of employee where needed

3. What is the focus on Relationship Era marketing? A. Long-term connection to customer B. Marketing to customers C. Selling to customers D. Making product for customers

A - Long-term connection to customer

4. A magazine publisher has decided to buy a new printing press. It is so large, it will fill an entire room. What type of product have they purchased? A. Major equipment B. Business service C. Accessory equipment D. Component part

A - Major equipment

11. Which of these items is made up of elements known as the "4 Ps" (product, pricing, place, promotion)? A. Marketing mix B. Marketing Plan C. Marketing Concept D. Target market

A - Marketing mix

7. In which phase of a product design does manufacturing check tooling and engineering to refine design- related issues? A. Modeling and prototyping B. Manufacturing C. Defining specifications D. Generating computer drawings E. Creating ideas

A - Modeling and prototyping

13. An example of evaluating and controlling would be A. inspecting products to ensure quality. B. being named the top employer in the state. C. being promoted to senior manager. D. using alarms, alerts, and reminders.

A - inspecting products to ensure quality.

11. An example of evaluating and controlling would be A. performing employee reviews. B. being named the top employer in the state. C. using color-coded file folders or different subjects. D. being asked to chair a new committee.

A - performing employee reviews.

15. An example of managerial organizing would be A. using color-coded file folders for different subjects. B. being named the top employer in the state. C. being asked to chair a new committee. D. performing employee reviews.

A - using color-coded file folders for different subjects.

13. What is a product line? A. A name, term, symbol, design, or any such combination that is used to distinguish a company and its products B. A group of products that are closely related to each other C. Items that are sold to businesses in order to make other products or resell. D. All products offered for sale by a company

B - A group of products that are closely related to each other

10. Which promotional method involves paying money to influence people through broadcast, digital, or print media? A. Public relations B. Advertising C. Personal selling D. Sales promotions

B - Advertising

1. Which of the following is a form on which an applicant provides information about his or her experience and education? A. A cover letter B. An application C. An interview D. A follow-up letter

B - An application

11. What is promotion? A. A company's portion of the total industry sales for a certain type of product B. Any form of communication that a business uses to inform, persuade, or remind potential customers about their products C. Determining how to get the product to the right people, in the right amounts, at the right time and place D. The value placed on a product, usually given in monetary terms

B - Any form of communication that a business uses to inform, persuade, or remind potential customers about their products

6. What is a product? A. Something for sale that cannot be touched B. Anything offered to a market that might satisfy a want or need C. Something for sale that you can touch D. The container or wrapping for an item

B - Anything offered to a market that might satisfy a want or need

8. Which of these statements about generic products are TRUE? A. Generic products are more recognizable than brand name products. B. Companies usually spend little money on the promotion of generic products. C. Generic products are always lower in quality than brand name products. D. All of the above

B - Companies usually spend little money on the promotion of generic products.

8. A member of your team comes into your office upset that she may be losing her job in a buyout. You are leaving for a meeting with your boss. What should you do? A. Offer her a tissue and tell her she can use your office while you are gone. B. Encourage her to come in and listen carefully to her concerns. C. Explain that it is unlikely she or anyone else will lose their job. D. Ask her to make an appointment and come back later in the day.

B - Encourage her to come in and listen carefully to her concerns.

5. Product managers often have to: A. Hire the right people to produce the product B. Follow a product through its lifecycle C. Manage the actions of each of their staff members D. Locate the raw materials needed to productions

B - Follow a product through its lifecycle

5. Maria has started a lawn care service about a year ago. She did good work and her customers spread the word. Sales are increasing quickly! What stage of the product life cycle is described in this example? A. Introduction B. Growth C. Maturity D. Decline

B - Growth

12. A primary goal of quality assurance and control programs is to: A. Let customers know about the high quality B. Make sure products meet the company's standards C. Beat the competition's product quality D. Have the best product prices

B - Make sure products meet the company's standards

1. You found a huge error in a report that is going to the president of the company shortly. You know who created the problem. What should you do? A. Report the person who caused the problem B. Solve the problem without assigning blame. C. Determine the financial impact before taking action D. Ask you manager to solve the problem.

B - Solve the problem without assigning blame.

10. A new customer calls to compliment you on the service she received from one of your team members. What should you do? A. Thank her and tell her you look forward to serving her again. B. Thank her and mention her call and comments at the team meeting. C. Thank her and then compliment the employee she named.

B - Thank her and mention her call and comments at the team meeting.

2. Human Resources work with managers to do employee evaluations. How are these evaluations typically used? A. To set vacation benefits B. To adjust compensation C. To change production schedules D. To improve products

B - To adjust compensation

2. An example of leading and directing would be A. being named the top employer in the state. B. being asked to chair a new committee. C. using color-coded file folders or different subjects. D. performing employee reviews.

B - being asked to chair a new committee.

6. An example of a long-term plan would be A. winning a sporting event. B. opening a new location. C. doing inventory.

B - opening a new location.

3. Employee evaluations that use assessment by the employee, managers, peers and clients are called: A. Whole employee evaluations B. Full circle evaluations C. 360-degree evaluations D. Complete evaluations

C - 360-degree evaluations

12. One of your regular customers calls to complain that her take-out order was incorrect and she was double charged for an item she didn't receive. What should you do? A. Find out who messed up the order and make them pay for it. B. Apologize and tell her you hope she'll order again. C. Apologize and offer her a coupon for 50% off her next order.

C - Apologize and offer her a coupon for 50% off her next order.

14. You are about to start a meeting with your team to announce the winner of the employee of the quarter award when you find out your company is being bought out. What should you do? A. Announce the company buy-out before rumors can spread and then announce the recipient of the employee of the quarter award. B. Delay the meeting until you have more information on the buy-out so you can give everyone the facts. C. Begin with the planned award announcement and then remind your team not to spread any rumors. D. Remind your team not to spread any rumors and then announce the recipient of the employee of the quarter award.

C - Begin with the planned award announcement and then remind your team not to spread any rumors.

12. You manage a department with ten employees. If you had to trim a budget, which of the following cuts would have the least impact to your team members? A. Lay off a team member B. Reduce everyone's salary C. Cancel a project that hasn't been started D. Cancel vacation time

C - Cancel a project that hasn't been started

14. Human Resources can be responsible for leading and directing employee ______. A. Empowerment B. Efficiency C. Development D. Productivity

C - Development

11. Your office is hosting a big meeting with some of its international clients. During the meeting, one of the clients asks numerous very detailed questions. She also wants to see your risk management plan. Which of these countries is she probably from? A. Mexico B. Ireland C. Germany D. United States

C - Germany

18. Which is an advantage of a flat organizational structure? A. Provides more opportunities for advancement B. Allows management to spend more time with employees C. Gives employees more responsibility D. Makes it easier to train employees

C - Gives employees more responsibility

6. What is the abbreviation for Human Resources? A. HRB B. HuRe C. HR

C - HR

15. You own a company. You have identified a safety issue with one of your products. The company could lose a large amount of money if customers find out about the problem. What should you do? A. Ignore the problem until someone reports it. B. Try and find out who caused the problem. C. Immediately recall the product. D. Do a financial impact study before taking action.

C - Immediately recall the product.

13. You are visiting a client in Shanghai, China. You know arriving late will insult them. Traffic is terrible in Shanghai. What can you do to avoid being late? A. Tell the taxi driver to take the fastest route. B. Bring gifts to relieve the tension. C. Leave extra early for the meeting. D. Call ahead to let them know you'll be late.

C - Leave extra early for the meeting.

12. Which of these statements about publicity is NOT TRUE? A. The information tends to be viewed as more credible. B. Publicity is free since the information appears in the news media. C. Marketers control how the information is presented. D. Publicity is one part of public relations.

C - Marketers control how the information is presented.

10. Human Resources is NOT responsible for which of the following organizational tasks? A. Labor and union relations B. Manage employee payroll C. Material problems in manufacturing D. Track employee evaluations

C - Material problems in manufacturing

2. You manage a department with ten employees. Your boss tells you the company needs to save money, so you have to lay-off employees and make other budget cuts. What is one of the most important things you should focus on? A. Protecting the company's financial position B. Maintaining your own salary level C. Minimizing the harm to the employees D. Keeping the layoff news out of the newspaper

C - Minimizing the harm to the employees

1. In terms of the marketing mix, distribution is represented by which "P?" A. People B. Product C. Place D. Price

C - Place

5. Which is an advantage of a tall organizational structure? A. Gives managers numerous direct reports B. Costs the organization less C. Provides more opportunities for advancement D. Gives employees more responsibility

C - Provides more opportunities for advancement

6. Which of these items is an example of Place utility? A. Arranging special credit programs to purchase a high-ticket item B. Recording a salesperson as he or she demonstrates a product C. Putting more expensive products on shelves at eye level D. Packaging related products together in a container for a special price

C - Putting more expensive products on shelves at eye level

9. You are in a local restaurant when you overhear two of your employees gossiping about a situation with a customer. What should you do? A. Ignore them since they are on their lunch break they can discuss whatever they want. B. Call human resources when you get back to the office to report their conversation. C. Remind them that discussing customer issues may be a violation of company policy. D. Offer them the facts so they understand what is really happening with the customer.

C - Remind them that discussing customer issues may be a violation of company policy.

5. Which of the following documents highlights an applicant's qualifications for employment? A. Application B. Acknowledgment C. Resume D. References

C - Resume

7. One of your team members confides to you that he is really struggling with the new support system. What should you do? A. Reassign him to new responsibilities that are more comfortable for him. B. Encourage him to speak to human resources about other opportunities. C. Schedule time to help him use the system until he is more comfortable.

C - Schedule time to help him use the system until he is more comfortable.

9. Which of these types of products usually involves the customer doing comparison shopping? A. Specialty products B. Convenience products C. Shopping products D. All of the above

C - Shopping products

8. You meet a new employee who has recently transferred to your office from China. She is not a native English speaker. What should you do if you have trouble communicating with her? A. Use a pocket dictionary so you can translate words for her. B. Interrupt her to ask for clarification. C. Speak slower than normal and listen carefully. D. Ask for a translator to make communication easier.

C - Speak slower than normal and listen carefully.

4. Which of these statements about customer perception of price is NOT TRUE? A. Customers may perceive the quality of an item based on its price B. Sometimes buyers will tolerate a wide range of prices based on the situation C. The breakeven price may be important to customer acceptance of a price D. The actual price may be a bigger factor to some segments

C - The breakeven price may be important to customer acceptance of a price

10. A marketing plan documents how to focus marketing efforts. In good marketing strategy, what's at the center of all the efforts? A. The business B. The product C. The customer D. The competitors

C - The customer

2. Which of the following is true of applications for employment? A. List your work experience with your current job last and your earliest job first. B. List talents that are not job-related, as the hiring manager might think you are an interesting person. C. The form will ask if an applicant can legally work in the United States. D. Completing an application is a guarantee of employment.

C - The form will ask if an applicant can legally work in the United States.

16. An example of a strategic plan would be A. doing inventory. B. earning earn extra money. C. owning five cars. D. winning a sporting event.

C - owning five cars.

7. What is the difference between a customer and a consumer? A. A consumer buys a product either to resell it or make it into another product. B. A customer buys specialty products, while a consumer buys convenience products. C. A customer must be a business, while a consumer may be a private individual. D. A customer buys products, while a consumer uses products.

D - A customer buys products, while a consumer uses products.

3. Which of the following is a person who can speak positively about an applicant? A. An acknowledgment B. A family member C. A resume D. A reference

D - A reference

11. Which of the following may be purposes of packaging? A. Help the product stand out from the competition B. Make the product easier to use C. Protect the product and the people who buy it D. All of the above

D - All of the above

13. Total compensation includes: A. Salary B. Benefits C. Bonus and incentives D. All of the above

D - All of the above

2. Which of these statements about the impacts of marketing are TRUE? A. Virtually all of the goods and services you use are marketed. B. Marketing impacts our daily lives, our society, and even the environment. C. The impacts of marketing can be both positive and negative. D. All of the above

D - All of the above

9. The business-to-business (B2B) market includes people who buy products to: A. Use them in day-to-day operations B. Make other products C. Resell them D. All of the above

D - All of the above

9. You manage a department with many employees. Which is something you should NOT consider when forced to do layoffs? A. Well-being of other team members B. Impact to incomplete projects C. Well-being of the company D. Amount of paperwork required

D - Amount of paperwork required

1. A company creates an identity for a product through its logo, packaging and promotions. Customers like the product and remember their good feelings every time they see something about the product. They continue to buy the product and also tell their friends about it, which increases sales. What is this an example of? A. Product Mix B. Product Life Cycle C. Product Classification D. Branding

D - Branding

9. In order to increase customer traffic, you want to offer an immediate discount when they purchase a certain product. Which of these sales promotions would be used in this case? A. Premium B. Rebate C. Point-of-Sale display D. Coupon

D - Coupon

1. Which is NOT a type of planning used by management? A. Long-term B. Strategic C. Short-term D. Deliberate

D - Deliberate

4. On your visit to potential business partners in Monterrey, Mexico, several prospective business partners ask about your personal credentials. What is the best share your credentials with them? A. Smile and chat with them casually about your accomplishments. B. Show them your Facebook page. C. Hand them a copy of your complete resume. D. Give them a business card listing your credentials.

D - Give them a business card listing your credentials.

12. A coffee company decides to add some new flavors to its current house blend. How did this company change their product mix? A. Deleting a product B. Developing a new product C. Product modification D. Line extension

D - Line extension

5. Which of the following shows the correct evolution of marketing over time? A. Selling Era - Relationship Era - Production Era - Marketing Era B. Marketing Era - Selling Era - Production Era - Relationship Era C. Relationship Era - Selling Era - Marketing Era - Production Era D. Production Era - Selling Era - Marketing Era - Relationship Era

D - Production Era - Selling Era - Marketing Era - Relationship Era

8. What type of plan does Human Resources assist in developing that focuses on hiring people? A. Evaluation plans B. Compensation plans C. Promotion plans D. Staffing plans

D - Staffing plans

14. Your office is hosting a big meeting with some of its international clients. The client from Japan presents you with his business card using two hands. What should you do? A. Set the card aside so you can study it later. B. Immediately place the card in your pocket. C. Thank him for giving you the card. D. Take the card from him with both of your hands.

D - Take the card from him with both of your hands.

15. The dies or forms and equipment used to manufacture products are known as? A. Processes B. Prototypes C. Specifications D. Tooling

D - Tooling

17. In which phase of a product design does engineering define the product? A. Modeling and prototyping B. Generating computer drawings C. Manufacturing D. Creating ideas E. Defining specifications

E - Defining specifications

4. What type of economic utility involves changing a raw material or assembling parts to make a product? A. Place B. Possession C. Time D. Information E. Form

E - Form