Memo
Which of the following is a benefit of supply chain management:
Increased risk
Cost savings
Elimination of production errors
More complex processes
2. Cost Savings
An advertising agency wants to communicate its TV commercial idea to a client. What format would be the best for the agency to use?
Catalog
Sales letter
Memo
Storyboard
4. Storyboard
What is one reason why many businesses are engaging in environmental monitoring?
To directly control global market prices
To force immediate changes in consumer behavior
To replace all human decision-making with automated systems
To identify emerging trends
4. To identify emerging trends
Which of the following is a way in which a business communicates with its target market:
Inventory
Operating procedures
Budgeting
Personal selling
4. Personal selling
What is the official lanuguage of the United States?
While English is primary, the United States has no official national language
A toy manufacturer checks a sample of its toys before every shipment to ensure the quality of its products and to make sure they meet certain requirements. This is an example of quality:
Assembly
Distribution
Inspection
Financing
3. Inspection
The most efficient way to obtain the current interest rates on certificates of deposit purchased through Main Street Community Bank is to:
Read a financial newspaper published last year
Check a community bulletin board
Research other banks’ rates on certificates of deposit
Visit the bank's website
4. Visit the bank's website
Which of the following characteristics is a key component of a SMART marketing objective:
Ambitious
Convenient
Subjective
Measurable
4. Measurable
Business X and Business Y offer very similar products. If Business X prices the product at $260.50 and offers a 10% discount and Business Y prices its product at $250.25 and offers a 5% discount, which of the businesses would attract value-oriented customers due to its lower price?
Business X because the sale price of its product is $234.45
Business Y because the sale price of its product is $234.45
Business Y because the sale price of its product is $237.73
Business X because the sale price of its product is $237.73
1. Business X because the sale price of its product is $234.45
What do Americans eat, about 100 acres per day?
Pizza!
Which of the following companies is most likely to purchase raw materials and components to convert into finished products:
Ford
Kohl’s
Target
Big Lots
1. Ford
Facts are true outside of the mind and are not based on feelings or biases. Facts are:
Positive
Objective
Persuasive
Theoretical
2. Objective
ABC Inc. sells very expensive products that the average consumer cannot afford. Which form of demographic segmentation would be the most appropriate to use when directing promotional efforts to the target market?
Income
Life Stage
Occupation
Age
1. Income
Marketing begins with what activity?
Pricing
Promoting
Distributing
Planning
4. Planning
What is the first and only country to have landed humans on the moon?
The United States
Josh is having trouble interpreting a detailed, information-heavy memo from his boss. Which of the following strategies would help him better understand the important points of the memo:
Scanning the document for headings, subtitles, or diagrams
Asking his boss to send a less dense version of the memo
Ignoring and skipping the parts he doesn't understand
Reading only the first and last paragraphs of the memo
1. Scanning the document for headings, subtitles, or diagrams
Smartphones allow employees to:
Keep sensitive company information confidential
Communicate while out of the office
Diagnose complicated business problems
Make manufacturing processes more efficient
2. Communicate while out of the office
Which of the following is the best description of the marketing mix:
A combination of the four elements of marketing
An element of marketing that puts a product in the right place at the right time
A strategy that serves as a guide
A method of determining what a marketer wants to achieve
A combination of the four elements of marketing
Trade Association websites and online libraries are internet sources from which marketing researchers obtain:
Primary data
Internal data
Classified information
Secondary information
4. Secondary information
What is the largest state in the United States?
Alaska!
How does appropriate information management affect a business's relationship with its customers?
Businesses make better financial decisions
Businesses take advantage of customers
Businesses lose focus on customers
Businesses serve customers more effectively
4. Businesses serve customers more effectively
Predicting the number of units of a good or service that a business will sell during a given time is referred to as a(n):
Marketing strategy
Test market
Sales forecast
Economic Outlook
3. Sales Forecast
A company that provides excellent customer service will most likely:
Enjoy increased brand value
Suffer employee turnover
Harm its business reputation
Decrease its market share
Enjoy increased brand value
Large corporations such as Walmart and Coca~Cola have too many people in their target markets to contact each individual for marketing research purposes. To make it easier to gather data about their customers, these companies usually:
Conduct a census
Gather data about employees
Use sampling methods
Ignore parts of a target market
3. Use sampling methods
The Statue of Liberty was a gift to America from?
France!