Marketing
Assessing your personal strengths and weaknesses in an objective way involves
A. comparing your attributes with others' skills and talents.
B. basing a strength or weakness on one isolated incident.
C. looking for behavior patterns that occur regularly over time.
D. working to improve most of your weaknesses at one time.
C. looking for behavior patterns that occur regularly over time.
If a financial planner fails to stay informed about new laws impacting the financial products s/he sells, which of the following ethical principles is s/he failing to observe:
A. honesty.
B. competence.
C. confidentiality.
D. objectivity.
B. competence.
What type of intellectual property protection can a company obtain to prevent its competitors from imitating and selling a new invention it has created?
A. trademark .
B. patent.
C. copyright.
D. lawsuit.
B. patent.
A food server who has mixed up an order and brought the wrong menu items is an example of the __________ contributing to customer complaints.
A. employee.
B. consumer.
C. business.
D. product.
A. employee.
What should the first section of an executive summary contain?
A. an acknowledgement of the report's sponsors.
B. a recommended course of action.
C. a letter of authorization.
D. a statement of the report's purpose.
D. a statement of the report's purpose.
RunRight and QuickStride both sell the same type of running shoes and apparel at similar prices. Jamie, however, prefers QuickStride because the employees always offer to help her find the correct size for her feet. She rarely shops at RunRight. QuickStride is using its __________ to beat its competition.
A. employee discipline.
C. price matching.
B. product quality.
D. customer service.
D. customer service.
You want to have $8,000 in three years to purchase a car. You can earn 4% compound interest on your investment. How much should you invest today?
A. $7,821.47
B. $7,692.31
C. $7,364.10
D. $7,111.75
D. $7,111.75
When planning a new venture, an entrepreneur can use __________ to clarify their goals and vision.
A. a mission statement.
B. a SWOT analysis.
C. financial forecasting.
D. competitive analysis.
A. a mission statement.
Reece works for a hotel, and many of his customers are business travelers. When he learns that a customer is traveling for work, he automatically shows them where the hotel's business center is. Reece is
A. using secondary marketing data.
B. anticipating unspoken customer needs.
C. making unfair judgments.
D. using an aggressive selling tactic.
B. anticipating unspoken customer needs.
A responsible person who accepts a job with a company is giving the business a
A. proposal.
B. promise.
C. challenge.
D. guarantee.
B. promise.
A manufacturer of draperies sells them to Sears, which, in turn, sells them to a customer. This channel of distribution transports goods from producer to
A. agent to retailer.
B. consumer.
C. retailer to consumer.
D. wholesaler to retailer to consumer.
C. retailer to consumer.
A financial institution that acts as an intermediary to facilitate securities transactions for the general public is a(n)
A. investment bank.
B. brokerage company.
C. commercial bank.
D. credit union.
B. brokerage company.
Rahul, the CEO of a large corporation, needs to make sure his management team complies with the new governance practices. What is the best way for Rahul to ensure the management team knows how to comply?
A. evaluate performance of the board of directors.
B. select a new board of directors.
C. verbally define roles and responsibilities.
D. define roles and responsibilities in writing.
D. define roles and responsibilities in writing.
Which of the following types of hospitality and tourism information is most likely to be found in an online database:
A. customer reviews for a specific hotel.
B. competitors' sales data.
C. industry market trends.
D. a restaurant's customer demographics.
C. industry market trends.
To control the business's level of risk, management needs to clearly communicate the business's code of ethics to employees because
A. businesses usually do not address ethical issues in their employee handbooks.
B. the government requires all businesses to provide in-depth ethics training programs.
C. the employees' personal ethics may differ from the business's ethics.
D. business policies tend to change in terms of what is considered ethical behavior.
C. the employees' personal ethics may differ from the business's ethics.
People's Bank recently partnered with a local supermarket chain to offer a special rewards credit card for supermarket customers. Both the bank and the supermarket hope to gain more customers from the relationship. This is an example of
A. mutual advertising.
B. company partnership.
C. affinity marketing.
D. dual promotion.
C. affinity marketing.
Which of the following situations presents a potentially unethical situation in relation to risk management:
A. a manager reviews a report and notices a mistake.
B. a business uses computer software that detects inconsistent data.
C. an employee researches various compliance issues affecting the industry.
D. a company executive provides a tax auditor with incomplete information.
D. a company executive provides a tax auditor with incomplete information.
Which of the following statements accurately describes the relationship among innovation, learning, and change:
A. internal and external changes trigger innovation, leading to new learning.
B. innovation triggers internal and external changes, leading to new learning.
C. new learning triggers innovation, leading to internal and external changes.
D. internal and external changes trigger new learning, leading to innovation.
D. internal and external changes trigger new learning, leading to innovation.
Many hotel companies offer a variety of hotel properties targeted at different types of customers (e.g., luxury, economy, extended-stay, etc.). What do these companies hope to gain by offering diverse lodging options, often with the same or similar brand names?
A. free advertising.
B. a broader market appeal.
C. differentiation of specialty hotels.
D. reduced competition.
B. a broader market appeal.
Because Bob was angry that Laurie received the promotion that he wanted, Bob decided not to tell her about a procedure that he uses to bypass a specific problem with a computer program—a step that would save Laurie and other employees a lot of time. This is an ethical issue that is related to
A. misleading facts.
B. embezzlement.
C. unlawful behavior.
D. withholding information.
D. withholding information.
Chadwell's Toy Palace is planning a “buy one, get one free” sale for some popular toys. What will the store need to do to ensure that there are enough products available to meet the changing demand?
A. change the distribution strategy from selective to intensive.
B. hire additional warehouse staff for the duration of the sale.
C. purchase higher quantities of the sale items in a timely manner.
D. send copies of the promotional literature to the store's vendors.
C. purchase higher quantities of the sale items in a timely manner.
The government does not tax the money placed in an individual retirement account (IRA) until it is withdrawn for its designated use. This money is an example of
A. capital gains revenue.
B. dual taxation on earnings.
C. tax-deferred income.
D. tax-exempt funds.
C. tax-deferred income.
Predictive research is used by businesses when they need to
A. forecast future business developments.
B. define their reasons for research.
C. determine the impact that one thing has on another.
D. gather specific data related to an identified problem.
A. forecast future business developments.
Southwest Airlines expects its employees to reinforce the company's brand promise—high-quality customer service—at all times. Which of the following is the most significant aspect of the brand promise for all Southwest employees to remember?
A. long-term planning.
B. ongoing promotion.
C. profit maximization.
D. consistent follow-through.
B. ongoing promotion.
Two common methods for locating a professional organization/association that satisfies the needs of a prospective member are
A. purchasing a classified advertisement or questioning other people.
B. contacting group headquarters or hoping to be sent an invitation.
C. questioning other people or contacting group headquarters.
D. hoping to be sent an invitation or purchasing a classified advertisement.
C. questioning other people or contacting group headquarters.