Marketing
Marketing 2
Management
Management2
Location
100
The initial step in the marketing research process is to a. select a data collection method. b. identify consumer/business segments of interest. c. identify informational needs. d. conduct a preliminary information search.
What is identify informational needs?
100
The areas of marketing strategy that should be addressed within the marketing plan are a. promotional, pricing, distribution, and product/service plans. b. promotional and pricing plans. c. promotional and distribution plans. d. promotional, pricing, and distribution plans.
What is promotional, pricing, distribution, and product/service plans?
100
A sole proprietor a. assumes all losses of the business. b. assumes no profits. c. receives tax-free fringe benefits. d. assumes no losses.
What is (a) assumes all losses of the business?
100
The key to strong management in a new firm is a. balance, with each member having competence in at least one area. b. financial competence of the chief executive. c. a strong marketing manager. d. close friendship among all members of the team.
What is balance, with each member having competence in at least one area?
100
Which of the following is a true statement about location decisions? a. Franchisers never assist entrepreneurs with location decisions. b. Location decisions have an enduring effect on business operations. c. Location decisions should be made independently of consumer needs. d. The location decision is equally critical to all types of businesses.
What is (b) location decisions have an enduring effect on business operations?
200
John Smith, a car repair shop owner, is developing the warranty and repair policies for his business. What area of the marketing strategy is he addressing? a. Promotional plan b. Total product or service c. Distribution plan d. Pricing plan
What is total product or service?
200
Primary data collection methods are often classified as a. expensive or inexpensive. b. observational or questioning. c. broad or comprehensive. d. issue-related or concept-related.
What is observational or questioning?
200
A strong partnership requires that partners who a. are honest, healthy, capable, and contribute assets to the partnership. b. honest, healthy, capable, and compatible with the other partners. c. honest, healthy, capable, and legally unencumbered. d. honest, healthy, capable, and willing to participate actively in the partnership.
What is honest, healthy, capable, and compatible with the other partners?
200
A partner can purchase a new copier for the partnership without consulting the other partners because each partner has ____ power. a. agency b. purchasing c. separability d. fiduciary
What is agency?
200
Why does electronic commerce benefit small firms? a. Small firms are often "tech savvy", which allows them to embrace innovations more quickly. b. Large firms have complex business plans that fail to direct investment toward the Internet. c. Without e-commerce, small firms often lack the resources to expand beyond local markets. d. The government has committed significant resources to encourage small firms to go online.
What is (c) without e-commerce, small firms often lack the resources to expand beyond local markets?
300
Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for grocery stores. The firm’s marketing philosophy is a. consumer-oriented. b. market-oriented. c. production-oriented. d. sales-oriented.
What is production-oriented?
300
Techniques used to collect primary data are often classified as ____ and ____ methods. a. internal/external b. observational/questioning c. exploratory/descriptive d. focus/comprehensive
What is observational/questioning?
300
In a business partnership, agency power means a. partnerships have more power than sole proprietorships b. partners can’t compete on another business and remain a partner c. a decision by one partner is binding for all partners d. a partner can’t use business information for personal gain
What is (c) a decision by one partner is binding for all partners?
300
For a corporate charter to be obtained, a. one or more persons must apply to the secretary of state for permission to incorporate. b. the owner(s) must agree to be interviewed by a state department official. c. the owner(s) must negotiate an incorporation fee. d. the partners involved must outline a division of assets.
What is one or more persons must apply to the secretary of state for permission to incorporate?
300
Roger Hemingway is analyzing regional differences in seeking a location for a new firm. He just read a Wall Street Journal article that ranked states according to the favorability of tax laws. Based on this information, he has decided to give further attention to one of the best states, which is a. Wyoming. b. Massachusetts. c. Ohio. d. New York.
What is Wyoming?
400
If a firms method of product delivery is exportation, then which of the following is not an important area to discuss in the distribution section of the marketing strategy? a. Relevant laws concerning exportation b. Product presentation c. Knowledge of exchange rates between currencies d. Relevant regulations concerning exportation
What is product presentation
400
Creators Plus, a modest-size manufacturer of quality crafts, expends considerable resources to ensure that its products are created in the most efficient manner. According to the owner, distribution and promotion are secondary considerations to managing an expedient production process. Creators Plus subscribes to the ____ marketing philosophy. a. process-oriented b. market-oriented c. sales-oriented d. production-oriented
What is production-oriented?
400
Stockholders have limited liability unless they a. are active in the management of the corporation. b. personally endorse company notes. c. own preferred stock. d. convert their shares to partnership status.
What is personally endorse company notes?
400
In a limited partnership, which of the following remains bound by all debts of the business? a. Limited partner b. Special partner c. Partner with the greatest capital investment d. General partner
What is general partner?
400
Using special-purpose equipment in the manufacturing process typically results in a. increased operator errors. b. higher costs of processing. c. a rise in accident rates. d. greater output per machine-hour of operation.
What is greater output per machine-hour of operation?
500
Ideas Unlimited is a recently established consulting firm that specializes in providing retailers with information about regional sales trends. Typically, retail establishments are classified into three categories (specialty, niche, and general retailers). The current CEO of Ideas Unlimited wants to know the estimated demand in the market for its services. Accordingly, she instructs the firm's marketing department to identify all buyers in each category of retailers and derive a full demand assessment. The CEO is requesting a market demand estimate based on the a. breakdown forecasting process. b. aggregate forecasting process. c. buildup forecasting process. d. indirect forecasting process.
What is buildup forecasting process.
500
Mary Delany, owner of Delany Salsas, is curious to know whether the new packaging for her line of salsas is being noticed by supermarket consumers. Accordingly, she ventures out to the local supermarket and passively watches the reactions of shoppers as they pass by one of the many Delany Salsas displays. Mary Delany is collecting ____ data through ____ methods. a. secondary/observational b. primary/questioning c. primary/observational d. secondary/questioning
What is primary/observational?
500
A stockholder in a Subchapter S corporation a. is not allowed to vote in elections to choose members of the S corporation’s board of directors. b. cannot vote by proxy at stockholders' meetings. c. cannot become a member of the board of directors. d. cannot be a nonresident alien.
What is (d) cannot be a nonresident alien?
500
A strategic alliance is a. an organizational relationship that links two separate businesses. b. an unimportant organizational form in today's business environment. c. an attempt to duplicate efforts between two firms. d. a strategy that, as a result of its unwieldy nature, is falling from practice.
What is an organizational relationship that links two separate businesses?
500
Harry Hardwick is starting a job-order machine shop and is buying such used equipment as lathes, planing mills, and drill presses. The equipment he plans to use is a. special-purpose equipment. b. automated equipment. c. general-purpose equipment. d. product-layout equipment.
What is general-purpose equipment?
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