Topic 1
What type of demand is applied when decreasing the price of a product causes more people to purchase the product.
b. elasticity
c. shortage
d. inelasticity
Which element is part of the promotional mix
a. licensure
b. advertising
c. distribution
d. pricing
At what phase of an economic business cycle does a business expect to pay the highest interest rate on a loan
a. contraction
b. peak
c. trough
d. expansion
What is the least profitable stage of the product life cycle
a. decline
b; growth
c. maturity
d. introduction
Who is the back to back NCAA basketball champions?
a. Purdue
b. Alabama
c. UConn
d. Who cares its NCAA Basketball
What advantage does e-commerce and digital marketing have to retail sales.
a. open 24 hours/365 days
b. additional middlemen
c. increased advertising costs
d. fewer product options
A focus group is part of what type of market research
a. quantitative
b. experimental
c. observational
d. qualitative
Which function of marketing addresses delivery of product to the end user
a. distribution
b. promotion
c. pricing
d. selling
Buy Rite has a history of filing management positions from outside the company. As a result, turnover is high. What goes unrewarded at Buy Rite
a. adequate performance
b. loyalty
c. good manners
d. punctuality
What term refers to an individual who works for an organization, sometimes without pay in order to gain work experience
a. fulltime worker
b. internship
c. contractor
d. consultant
Which generation will most likely use assisted living facilities
a. genertion x
b. generation z
c. baby boomers
d. generation y
Who are the resellers that buy, store and sell goods to retailers
a. agents
b. business owners
c. retailers
d. wholesalers
How does the fast food industry target people with healthy lifestyles
a. promotional meals
b. convenient options
c. nutritional information
d. combo meals
How is the relationship between different departments on the same organizational level described
a. hierarchical
b. vertical
c. line
d. Horizontal
Which element is NOT a component of SWOT analysis
a. Opportunity
b. Strength
c. Time
d. weakness
KFC and A&W are combined together in one location. What brand strategy is being used?
a. family branding
b. co branding
c. individual branding
d. mixed branding
Which type of business has only one owner
a. corporation
b. sole proprietorship
c. limited liability
d. partnership
What is the key consideration in designing a company's website?
a. social
b. user experience
c. company
d. clicks and hits
What information is available on a company's income statement
a. owners equity
b. profit
c. Assets
d. overhead
What type of hardware is used to generate business communications and reports
a. copier
b. laptop
c. facsimile
d. scanner
Why have internet sales increased in popularity
a. absences of regulations
b. lack of visibility
c. limited product line
d. mobile applications
What is adding a dollar amount to the cost of a product called
a. cost plus pricing
b. discount pricing
c. markup pricing
d. demand pricing
What is the most effective software program for compiling tables and charts based on research
a. publisher
b. word
c. access
d. excel
What is the concept of protecting a persons ideas called
a. copyright
b. trademark
c. intellectual property
d. trade secrets
Which term is not a barrier to quality business communications
a. feedback
b. distractions
c. culture
d. emotion