Marketing DECA Practice Exam

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

C. Software Instructs computer to perform specific operations.

Which of the following is a criterion for evaluating the reliability of a source: A. Style C. Timeliness B. Length D. Type of source

C. Timeliness

Which of the following helps in the interpretation of mined data: A. Spreadsheets B. Databases C. Visual representation D. Clustering

C. Visual representation

House of Quality matrix

House of quality matrix is a quality-control tool that helps managers to determine if a product meets customer needs or not

Lean production

Lean production focuses on maximizing customer value while minimizing waste.

Businesses often review salespeople's call records and lost-business reports in order to make effective __________ decisions. A. financing B. marketing C. hiring D. warehousing

B. marketing

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

A Middle. This level of management is responsible for the daily functioning of the business. It also serves as a liaison between top-level and supervisory management. Top management develops broad company plans, while supervisory, or operating, management is the management level that implements management plans through direct supervision of workers.

A basic reason for the formation of a trade association is to A. provide information for consumers. B. find solutions for common problems. C. promote goodwill for an industry. D. establish a long-term group.

A trade association's members can collectively find solutions to common problems that they might have difficulty handling as individuals. The members also can share their knowledge and work together to increase the profitability of all members' businesses.

What is a trade journal?

A trade journal (also known as a trade magazine) is writing that targets a specific industry or trade group. Trade journals will publish news and feature articles that focus on topics of interest to professionals in the target industry. (Up-to-date what is happening in the field)

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

A. $3.50 $6500-$3000 = $3500 $3500/1000 = $3.50 per item

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

A. Compensation Compensation = payment for work.

What type of deposit-taking institution is owned by its members or customers? A. Credit union B. Investment bank C. Full-service broker D. Discount broker

A. Credit union

What type of retirement plan gives employees little control but guarantees a specific amount for employees?

A. Defined benefits

The following is written on the back of a check: "For deposit only; Maria Evans; Account #285655." This is an example of a(n) __________ endorsement. A. restrictive B. general C. open D. congruent

A. Restrictive

Which of the following is a benefit of whole-life insurance: A. The policyholder can borrow the policy's cash value. B. It combines death benefits with a savings plan. C. The policyholder earns interest at current rates. D. It has lower premiums than term insurance.

A. The policyholder can borrow the policy's cash value.

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

A. What level of customer service to provide with the items The other answers are Place, Promotion, or Price

A memorandum is typically used for communication that takes place A. within a business. B. among competitors. C. infrequently. D. between friends.

A. Within a business

Which of the following quality-control methods improves quality by saving time and allowing potential problems to be caught earlier in the product design and development process: A. Concurrent engineering B. House of quality matrix C. Lean production D. Pareto

A. concurrent engineering Design and development is occuring at the same time.

arbitrator/arbitration

An independent person or 3rd party officially appointed to settle a dispute. The use of an arbitrator to settle a dispute.

School supplies sold by a wholesaler to a retail store is an example of goods sold for A. ultimate consumption. B. resale. C. industrial use. D. production.

B. resale

A marketing survey that contains questions that are to be answered on a scale of 1 to 5, with 1 being the worst and 5 being the best, is an example of A. tabulating. C. sorting. B. coding. D. marking.

B. Coding Coding is assigning number to responses

If the test-marketing process yields positive results, the next step is A. product innovation. C. prototype development. B. commercialization. D. modification.

B. Commercialization This is the next step after test marketing to a sample group is successful. Start sales

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

B. Create invoices and record customer payments

One way that advances in technology help businesses keep existing products on the market and extend their life cycle is by A. minimizing inventory. B. improving performance. C. attracting attention. D. demonstrating creativity.

B. Improving performance

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

B. Market share analysis Uses sale data to measure company sale performances against competitors

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

B. Obtain up-to-date information Trade publications contain information about new products, available resources, particular successes of other businesses, research, current trends.

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

B. Offering different products through each channel. Reduces conflict and competition

Beth's Orchard sells fruit to Aaron's Fruit Warehouse, which then sells the fruit to a variety of local stores that sell to the final consumer. In this example, the fruit is following which channel of distribution? A. Producer to agent to consumer B. Producer to wholesaler to retailer to consumer C. Producer to agent to wholesaler to consumer D. Producer to retailer to consumer

B. Producer to wholesaler to retailers to consumer

Which department would a marketing manager contact to make sure that enough product is on hand for an upcoming promotion? A. Shipping C. Accounting B. Purchasing D. Customer Service

B. Purchasing

Which section of a project plan should specify what is and isn't included in the project? A. Quality management plan C. Communications management plan B. Risk management plan D. Scope management plan

B. Scope management plan. A project's scope management plan determines what is included in a project and what is not included in the project. A risk management plan is an assessment of risks and strategies for avoiding them. A communications management plan determines how people involved in the project will communicate with one another. A quality

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

B. Target market

Why do businesses want to meet quality standards? A. To determine how much work must be done B. To reduce costs C. To decrease profit D. To examine how long it takes to get a job done

B. To reduce costs Quality = do it right first time = less costs

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

B. Total quality management

Which of the following sources of data would be best for a marketer who is looking for trends and changes in his/her industry: A. Sales invoice C. A competitor's promotional campaign B. Trade journal D. Public financial data

B. Trade Journal

Which of the following is a characteristic of an efficient accounting system: A. High-accessibility C. Maintenance-free B. User-friendly D. Results-oriented

B. User-friendly Retrieve information quickly and easily

What do both buyers and sellers want to receive when exchanging goods and services for a specific price? A. Credit C. Profit B. Value D. Prestige

B. Value

An expert system is a special kind of computer A. hardware. C. software. B. telephony. D. database.

C. Software

Which of the following is a true statement about how technology affects the external business environment: A. Technology is the main way to compete with other businesses. B. Not all businesses are affected by technology. C. Businesses must look for updated technology all the time. D. Certain target markets do not use technological products.

C. Businesses must look for updated technology all the time

Maxton Mart is being pressured by its vendors to pay for inventory it purchased more than 30 days ago. However, Maxton Mart has not received its accounts receivable from customers. What business record has Maxton Mart failed to monitor successfully? A. Balance sheet C. Cash flow B. Income statement D. Open to buy

C. Cash Flow

The data needed for sales volume analyses and market share analyses come from A. sales invoices. B. expense reports. C. company sales reports. D. customer records.

C. Company sales reports

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

C. Creates sense of value for customers Looks like a good deal/steal

What synectics technique compares a problem with something else that is unrelated? A. Arbitrary metaphors B. Discretionary comparisons C. Forced analogies D. Deliberate allegories

C. Forced analogies

Income from sales, cost of goods sold, gross profit on sales, operating expenses, and net profit or loss are all part of a(n) A. sales budget. B. balance sheet. C. income statement. D. marketing plan.

C. Income statement The financial statement of how much money is gained (+) and lost (-)

Electronic billing, purchase-order verification, bar-code technology, and image processing are examples of A. functions of the finance department. B. horizontal channel integration. C. integrated data between channel members. D. vertical channel integration.

C. Integrated data between channel members

Rashid's business always puts the customer first. All of the company's decisions are made to satisfy customer wants and needs. Rashid's company is using the __________ concept. A. customer C. marketing B. utility D. relative

C. Marketing

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

C. Organic marketing AKA "natural marketing"

Avery, who manages a silk-screening and embroidery business, has set a goal of increasing sales by 15% in the next six months. To reach his goal, he has increased the business's advertising budget. This is an example of the __________ function of management. A. organizing C. planning B. directing D. controlling

C. Planning. Planning is the management function of deciding what work will be done and how it will be accomplished.

Which of the following is an activity that must take place within a channel of distribution: A. Delivering products to customers' homes C. Promoting products B. Making payments to retailers D. Preparing detailed marketing reports

C. Promoting products

Although implementing slotting fees can help a business offset risks and cover stocking costs, it can become an ethical issue if it A. eliminates tax incentives. B. encourages economic growth. C. reduces competition. D. supports competing agreements.

C. Reduces competition

Which of the following is an internal factor that might have an effect on a business's selling policies: A. Social issues C. Research efforts B. Materials shortage D. Customer wants

C. Research efforts

When a business conducts an environmental scan, which of the following issues is a political factor that it should consider: A. Shifts in consumer lifestyles B. Fluctuation of unemployment rates C. Changes in regulation D. Widespread use of wireless devices

C. changes in regulation

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

D. Word processing

Businesses that carry a considerable assortment of goods but only one or a few related product lines are __________ businesses. A. specialty B. discount C. service D. limited-line

D. limited line Limited-line business: carry specialized products with a great assortment of them. Specialty business only has one type of product

Business competitors who discuss their costs and the amount of markup on their products may be involved in A. flexible pricing. B. variable pricing. C. price lining. D. price fixing.

D, price fixing

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

D. Antitrust

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

D. Attribute listing

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

D. Big Data Big data is large amounts of information automatically collected through electronic sources. Data encryption is transcribing information into secret codes.

How can ill-designed questionnaires affect survey participants? A. Can make them take their time to complete the survey B. Can make them question the survey's purpose C. Can decrease their desire to answer personal questions D. Can decrease their response rate

D. Can decrease response rate

Marketers can use the element of price to help with positioning by A. pricing products too high to make them seem like luxury items. B. allowing retailers to set prices. C. pricing products as low as possible. D. choosing a price the target market is willing to pay.

D. Choosing a price the target market is willing to pay

A department store sells clothing from brands like Levi's, but it also sells its own private brands of clothing, also known as __________ brands. A. business B. corporate C. value D. distributor

D. Distributor Distributor brands are owned by retailers that sell brands

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

D. Exploratory Collecting information and proceeding with research

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

D. Focus group Data of collected opinion/personal interpretation

Superior Office Company received a state contract to supply office equipment to all public schools in the area. What does the company need in order to effectively produce the contract? A. Products B. Outputs C. Supplies D. Inputs

D. Inputs Inputs include products, supplies, workers, resources

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

D. Mail-response Mail-response lists are those that businesses develop by purchasing other businesses' house lists.

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

D. Memorandum Memorandums are a frequently used form of brief, written communication exchanged by people within an organization

During the vendor-selection process, BWH Company asks potential vendors if they can process purchase requisitions so that the shipments arrive at the company's warehouse within five days. In this situation, BWH Company is most concerned with the A. shipping method. C. pricing structure. B. product's quality. D. order cycle.

D. Order cycle

Inventory reduction, sales stimulation, and new-product introduction are reasons that many businesses use __________ techniques. A. capital-investment B. stock-turn C. dual-sponsorship D. product-bundling

D. Product bundling Product bundling is putting together a number of goods/services to create a one-price package. The advantages include inventory reduction for slow-moving goods, sales increases, and lower new product-introduction costs.

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

D. Selling the product online

Each pay period, Kendra has her employer automatically deposit her paycheck into her checking account so the funds are available for use when she needs them. In this situation, money is functioning as a(n) A. form of cash. B. unit of measure. C. medium of exchange. D. store of value.

D. Store of value Store until use

Coca Cola, pillsbury are examples of _____________ brands

National

What is shill marketing?

Shill marketing involves employing people to pose as customers who are satisfied with a business's product using word-of-mouth techniques. Shill marketing is unethical behavior, and in some jurisdictions, it is an illegal practice.

vertical staff members

refers to all employees who are not in management. Ticket takers, security guards, guest relations representatives, and merchandise sales personnel are examples of employees who might provide insight when conducting risk assessment.