ESSAY
19.Describe the average company’s balance between high tech and low tech.
20.Explain the difference between data and information.
21.Define databases and describe how they are obtained and their uses.
.
69. Public relations refers to an organization’s communications and relationships with its:
a.customers.
b.employees and stockholders.
c.news media.
d.all of these answers are correct.
70.Dell Computer provides inner city schools with free computers and wireless Internet access. This is an example of ________.
a.sales promotion
b.public relations
c.personal selling
d.creative selling
71.________ involves an unpaid placement of information used to.
40.Public accountants typically perform all of the following tasks for a business client EXCEPT ________.
a.tax planning
b.reviewing a firm's financial statements
c.developing the firm's marketing strategy
d.management consulting
41.Emilio is not an employee of the Modesto Corporation, but was hired as a management consultant to provide unbiased advice about Modesto's financial condition. Emilio is.
MATCHING
Complete the following using the terms listed.
A.breakeven analysis
B.promotional mix
C.volume objective
D.institutional advertising
E.EDLP
F.creative selling
G.point-of-purchase advertising
H.skimming pricing
I.pushing strategy
J.pulling strategy
K.integrated marketing communications
L.publicity
M.telemarking
1.A(n) _____ relies on personal selling and sales promotion to market an item to wholesalers and retailers in a company’s distribution channels.
2. _____ sets an intentionally high price relative to the prices of.
22.List and briefly explain the most widely used business applications of computers.
23.Explain the difference between hardware and software. Give examples of both.
.
28.Describe the purpose of budgets in a business.
29.Explain how exchange rates influence international accounting practices. Why was the International Accounting Standards Committee established?
.
90.Accountants play fundamental roles in not only business but also other aspects of society.
91.Investing activities focus on selling goods and services, but they also consider cost control as an important element of sound financial management.
92.Monica is involved in obtaining new funds to run and expand her business. She is engaged.
119.The assortment of cereals manufactured under the Kellogg’s name, such as Corn Flakes and Raisin Bran, constitute the company’s product line.
120.Technological changes can compress the life cycle of products.
121.The early stages of a product's life cycle are generally the most profitable for the company because there is little competition.
122.Barnes and.
70.Dana’s office in south Florida was destroyed by a hurricane last year, and she lost numerous company documents. After relocating, Dana took no chances and implemented ________, in which she backed up her data in a secure online storage service.
a.enterprise resource planning
b.a firewall
c.encryption
d.a disaster recovery plan
71.Which of the following is.
80.Cash budgets include all of the following EXCEPT ________.
a.an analysis of interest on cash earned from company profits
b.a statement of the company’s cash inflows and outflows
c.an indication when the company can invest excess funds in securities
d.a tangible standard against which to compare actual cash inflows and outflows
81.Who is recognized worldwide.
59.Tanya is an account representative for an office supply corporation who frequently provides demonstrations to business professionals. When someone complains about the company’s fax machine, Tanya views the situation as an opportunity to ________.
a.determine if the prospect has the ability to pay for the machine
b.propose alternative purchases
c.revise her approach to.
90.Application software controls the basic workings of a computer system.
91.Adobe Acrobat is an example of a hardware program.
92.An estimated two-thirds of American households own at least one personal computer.
93.A familiar example of wide area networks is long-distance telephone service.
94.Local area networks allow computers to share the same printers, documents, and.
60.Maria is on a business trip. From her hotel, she uses her computer to access her company's network, checking her e-mail and calendar. Maria’s company has a(n) ________.
a.Internet
b.virtual private network
c.intranet
d.extranet
61.A new wireless standard called ________ has the potential to bring high-speed Internet access to rural areas where traditional forms of.
39.Jiffy Lube puts a sticker on your windshield to remind you when you are due for your next oil change. This is an example of which promotional strategy objective?
a.accentuate the product's value
b.provide information
c.stabilize sales
d.differentiate the product
40.Ford is running ads emphasizing that it offers longer warranties than other automobile companies. This.
MULTIPLE CHOICE
30.Melissa works for a travel agency. Her job involves preparing financial reports and interpreting those reports to provide information for decision making. Which title is appropriate for Melissa’s job?
a.auditor
b.systems analyst
c.investor
d.accountant
31.Professionals who are responsible for gathering, recording, reporting, and interpreting the financial information of an organization are ________.
a.statisticians
b.accountants
c.IRS agents
d.IRS agents.
149.Merchant wholesalers are independently owned and take actual title to the goods they handle.
150.Wholesalers are primarily owned by manufacturers.
151.Lands' End and other catalog retailers are classified as non-store, direct sellers of goods.
152.Retailers base their pricing decisions on the costs of purchasing products from other channel members.
153.One advantage of Internet retailing.
70.Kwane wants to assess his firm's ability to meet its short-term obligations. Which of the following ratios are the most relevant?
a.activity ratios
b.debt ratios
c.liquidity ratios
d.profitability ratios
71.Using the following balance sheet information, find the firm's acid-test ratio.
b.1.00
c.1.40
d.2.00
72.A firm has total assets of $50 million and owner's equity of $40 million. What is.
139.The two major components of an organization's distribution strategy are direct distribution and the use of marketing intermediaries.
140.Marketers should design their packaging and labeling to implement the same color and design as the native country of their consumers.
141.Consumers are examples of marketing intermediaries.
142.Physical distribution is the movement of products from.
119.McDonalds including a toy in each Happy Meal purchase is an example of a premium.
120.Trade shows and are different than major trade promotions.
121.Missionary selling is used for promoting the goodwill of a company or providing technical or operational assistance to the customer.
122.Market research shows that consumers are less likely to.
MATCHING
Complete the following using the terms listed.
a.CIO
b.VoIP
c.decision support system
d.firewall
e.application service provider
f.virtual private network
g.WiFi
h.intranet
i.malware
j.local area network
k.data
l.grid computing
m.expert system
n.executive support system
o.spyware
p.database
q.cloud computing
r.botnet
1._____ is a wireless network that connects various devices and allows them to communicate with one another through radio waves.
2.The purpose of a(n) _____ is to limit data transfers to certain.
99.Positioning is an attempt by marketers to establish unique places for their products in the minds of consumers.
100.A promotional mix often incorporates more personal selling components.
101.Advertising is a global activity.
102.Advertising is a form of paid personal communication.
103.Television ads by State Farm warning drivers against texting while driving are a type.
99.Yvonne's job is to coordinate the flow of raw materials from suppliers to her company's various production facilities. Which of the following best describes what Yvonne does?
a.logistics
b.inventory management
c.supply chain
d.physical distribution
100.The complete sequence of suppliers that contribute to creating and delivering a good or service is called the ________.
a.production cycle
b.chain of.
109.The three categories of business products are convenience goods, shopping goods, and specialty products.
110.In the consumer’s mind, the service provider is the service.
111.Sam drives 40 minutes out of the way to buy Starbucks coffee even though there is a Dunkin Donuts 10 minutes away from his apartment. In this case,.
ESSAY
14.Discuss how integrated marketing communications relates to a firm’s overall promotional strategy.
15.What are the components of the promotional mix? Outline the advantages of the components of the promotional mix.
16.Differentiate between a pushing and a pulling strategy.
.
20.Describe what a salesperson should do in the follow-up step of the sales process, and explain why it is important.
21.What is sales promotion? Give some examples of common sales promotion techniques.
22.Explain what point-of-purchase (POP) advertising is and why it is effective.
.
25. What is accrual accounting? How does depreciation affect net income and cash flow?
26.What is the purpose of the balance sheet? Explain how it is it organized.
27.Identify and briefly describe the four categories of financial ratios.
.
17.Describe and provide examples of the two basic types of advertising.
18.Describe how the Internet has changed advertising and provide examples.
19.List under what four conditions firms would emphasize personal selling over advertising for sales promotion.
.
27.Provide examples of ethical concerns regarding technology and information systems.
28.Provide the five important tasks for off-site data storage.
29.Identify four significant trends regarding information systems.
.
MULTIPLE CHOICE
30.Raw facts and figures are ________.
a.data
b.information
c.a management information system
d.the basis for business decision making
31.The person who directs a firm's management information systems and related computer operations is often called the ________.
a.financial advisor
b.chief information officer
c.executive information manager
d.chief executive officer
32.Marsha is a television executive whose team recently conducted demographic research for.
109.One advantage of advertising in magazines is that they allow targeted messages.
110.Cause advertising, a form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process, is a type of informative advertising.
111.Viral advertising is often quite expensive.
112.A sales.
50.All of the following are tangible assets EXCEPT ________.
a.cash
b.patents
c.buildings
d.inventory
51.All of the following are assets EXCEPT ________.
a.inventory
b.cash
c.patents
d.bank loans
52.Camden Products buys a $500,000 machine by taking out a bank loan. The company's assets will ________ by $500,000 while its liabilities will ________ by $500,000.
a.rise; rise
b.fall; fall
c.rise; fall
d.fall; rise
53.Makayla is a corporate CPA.
89.The fundamental purpose of promotion is to persuade and influence customers to purchase a product.
90.An integrated marketing communications strategy focuses on customer needs to create unified promotional messages.
91.To gain a competitive advantage, marketers that utilize integrated marketing communications should narrow their focus on promotional strategies.
92.Explaining the hidden benefits of ownership.
ESSAY
19.What is accounting? Provide examples of tasks that accountants perform.
20.All organizations perform three basic business activities. List and describe these activities.
21. Explain the differences between public accountants and management accountants.
.
159.A firm's most important consideration in choosing a distribution channel is competition.
160.The most common market coverage for low-priced convenience items is intensive distribution.
161.Logistics is the process of coordinating the flow of goods, services, and information among all members of the supply chain.
162.A selective distribution contract allows the retailer to carry.
40.Ashley, a chief executive officer, reviews the internal performance of her company's stock, as well as market trends for the industry. To access this information, Ashley uses a(n) ________.
a.enterprise planning resource
b.executive support system
c.expert system
d.decision support system
41.Eliot is trying to close a particularly difficult sale. He uses his PDA (personal digital.
79.In breakeven analysis, the costs that change with the level of production are considered ________ costs.
a.variable
b.recoverable
c.labor
d.fixed
80.Assume a product costs $5 each. The variable cost per unit is currently $4, and fixed costs are $25,000. If the company can alter its production method such that variable costs fall to $3.50 and.
49.Television is an attractive advertising medium because it ________.
a.is relatively inexpensive
b.offers a rapidly growing network audience
c.offers mass coverage and flexibility
d.provides instant feedback that can be used to measure effectiveness
50.A disadvantage of using ________ as an advertising medium is their short life span.
a.magazines
b.newspapers
c.outdoor ads
d.Internet ads
51.Companies that provide ________ for NASCAR teams.
129.High price can create product prestige.
130.Fixed costs remain stable regardless of the production level.
131. Cost-based pricing simply involves adding markups to cover overhead.
132.Breakeven analysis calculates the level of sales required to cover all of the company's fixed and variable costs.
133.The breakeven point determines at which point to halt production because.
89.Ordering merchandise from eBay or Amazon.com is a(n) ________ form of non-store retailing.
a.direct-response selling
b.Internet retailing
c.Automatic merchandising
d.Direct selling
90.Stores like Costco, which sell to members only, are an example of a ________.
a.warehouse club
b.discount store
c.supercenter
d.factory outlet
91.Vending machines are an example of ________.
a.direct selling
b.direct-response retailing
c.automatic merchandising
d.indirect selling
92.Peapod is an online grocery service that saves.
23.Explain the difference between trade-oriented promotions and consumer-oriented promotions. Provide an example of each.
24.Explain the differences between public relations and publicity.
25.Describe everyday low pricing (EDLP).
.
24.Describe a wide area network and explain how companies use it.
25.Explain the differences among a virus, a worm, and a Trojan horse.
26.Describe at least two ways that common e-crimes occur:
.
MULTIPLE CHOICE
29.Integrated marketing communications would include all of the following EXCEPT ________.
a.direct mail
b.sales promotions
c.public relations
d.distribution
30.The buyer-seller communication in _________ occurs during a face-to-face meeting or via telephone, videoconference, or interactive computer link.
a.Non-personal selling
b.Promotional strategy
c.Integrated marketing communications
d.Personal selling
31.The following are two elements of the marketing mix: ________ is informing, persuading, and.
80.Credit card applications are often evaluated using executive systems.
81.Executive support systems are computer programs that imitate human thinking through complicated sets of “if-then” rules.
82.Operational support systems are different from transaction processing systems.
83.Information systems that are designed to provide support for effective decision making are called operational support systems.
84.An expert system.
60.Jenna asked her accountant to prepare a summary of the company’s “bottom line.” What specific information is Jenna interested in?
a.comparison of assets and liabilities
b.the company’s financial position for that week
c.net income after taxes
d.statement of owners’ equity
61.Which of the following assets would be listed first on the assets side of a.
MATCHING
Complete the following using the terms listed.
a.certified public accountant
b.International Financial Reporting Standards
c.Asset
d.Liability
e.owners’ equity
f.accounting equation
g.balance sheet
h.income statement
i.Foreign Corruption Practices Act
j.accrual accounting
k.open book management
l.budget
m.GAAP
n.FASB
o.profitability ratio
p.International Accounting Standards Committee (IASC)
q.leverage ratio
r.management accountant
1.The _____ is the federal law that prohibits U.S. citizens and companies from bribing foreign officials in order to win or continue.
129.Focus groups are sessions in which customers meet with marketers to express their opinions about products.
130.The commercialization stage is also known as the product launch.
131.Trademark protection extends to pictorial designs and slogans.
132.Many large retailers sell both a private brand and a manufacturer's brand, which are produced by the same manufacturer.
133.A.
26.Explain how marketers use breakeven analysis.
27.Assume fixed costs equal $480,000. The price per unit is $10, and the variable cost per unit equals $8. Find the breakeven point in terms of both units sold and sales revenue.
28. Describe market based pricing and how it is used by companies.
.
100.An advantage of using VoIPs is that if your broadband connection goes out, your phone service will not necessarily go out too.
101.An intranet blocks outsiders without valid passwords from entering its network by incorporating both software and hardware.
102.A virus can remain dormant for a period of time on a computer.
103.Theft.
50.Which of the following is a storage device?
a.flash memory card
b.modem
c.monitor
d.scanner
51.Drew purchases a new game for his computer. He will load the program onto the computer's hard drive. Drew is buying ________.
a.an output device
b.a warranty
c.application software
d.an operating system
52.Aaron is sitting at his computer preparing a new sales brochure. The brochure combines.
