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Study Resources (Business Management)

    Limited availability can create product prestige.     Fixed costs remain stable regardless of the production level.     Breakeven analysis calculates the level of sales required to cover all of the company’s fixed and variable costs.     The breakeven point determines at which point to halt production because sales beyond the breakeven point result in losses to.
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    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       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.
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    Barnes and Noble starts earning 30% more profit a month after their new e-reader hit the shelves. Consumers continuously recommend the new product to friends. The e-reader is in the growth stage.     Promotion activities increase substantially when a product begins to enter the decline stage.     Some products can be highly profitable during.
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  TRUE/FALSE   Data alone are of limited value to a company.       Sales figures are an example of data.     Information is the result of processed data.     The heart of a management information system is the software.     Information overload is more of a problem today because of improved technology.       The main purpose of management information systems is to help.
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    The goal of ________ advertising is to maintain awareness of the usefulness of a product. a.advocacy b.comparative c.persuasive d.reminder-oriented         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       A disadvantage of using ________ as an advertising.
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    An advantage of using VoIPs is that if your broadband connection goes out, your phone service will not necessarily go out, too.     Theft of equipment is a type of malware     A virus can remain dormant for a period of time on a computer.     Unlike viruses, worms don’t need host programs to damage computer.
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    An information system that provides relevant data to help businesspeople choose the appropriate course of action is called a(n) ________. a.decision support system b.expert system c.executive information system d.database       Sean is a salesperson and is visiting one of his largest clients. Before the visit, he reviewed the client’s past purchases. Sean used the firm’s ________.
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    A combination of product lines represents a company’s ________. a.product mix b.product cluster c.product lifecycle d.distribution strategy       General Mills products include Betty Crocker, Pillsbury, Häagen-Dazs, Green Giant, Hamburger Helper, and Progresso. These examples constitute General Mills’ ________. a.distribution strategy   b.product mix   c.product cluster d.product line       A product line is a group of ________ products marked by physical ________. a.related; similarities b.unrelated; similarities c.related;.
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  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     The purpose of a(n) ________ is to limit data transfers to certain locations and log system use so that managers can identify threats to a system’s security.   A secure connection between two.
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  ESSAY   Discuss how integrated marketing communications relates to a firm’s overall promotional strategy.       List four things that salespeople should never do.     What are the components of the promotional mix? Outline the advantages of the components of the promotional mix.           .
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    Travis wants to replace his old mattress with a new soft-foam mattress, and has spent almost a week researching different brands and prices. When he’s ready to buy, Travis will be purchasing a(n) ________ product. a.Convenience b.Shopping c.Specialty d.Accessory       Jan takes her car to Oil Express for an oil change. This is an example of.
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  MULTIPLE CHOICE   In an effort to boost the entire pork industry, the National Pork Board sponsors an advertisement stating, “Pork. The Other White Meat.” This type of promotion is called ________. a.primary demand   b.media exposure   c.name recognition d.media dominance       Nike uses sports stars to increase sales by enhancing the public’s ________ demand for their brand. a.secondary b.selective c.primary d.marketplace       Integrated marketing.
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  Describe and provide examples of the two basic types of advertising.     Describe how the Internet has changed advertising and provide examples.     What is sales promotion? Give some examples of common sales promotion techniques.     Describe the circumstances when a firm is more likely to emphasize personal selling rather than advertising.       Describe advertising specialties.         .
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    Which of the following approach is used by computer manufacturers such as Hewlett-Packard? a.Intensive distribution b.Selective distribution c.Exclusive distribution d.Scrambled distribution       Newspapers and magazines use which approach to distribution intensity? a.Exclusive distribution b.Scrambled distribution   c.Intensive distribution   d.Selective distribution       Intensive distribution is a strategy used by the marketers of which of the following products? a.Honda Accords b.Gateway computers c.Pepsi d.Cartier watches       Exclusive distribution is well suited.
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    Explain the purpose of the Sarbanes-Oxley Act.     Identify and briefly describe the four categories of financial ratios.       Describe the purpose of budgets in a business.     What is the purpose of the balance sheet? Explain how it is it organized.     What is accrual accounting? How does depreciation affect net income and cash flow?       Explain how exchange.
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    A program that attaches itself to other programs and changes programs or destroys data is a(n) ________. a.computer virus b.purge program c.inoculation program d.immunity deficiency program       Jennifer belongs to several online card clubs. When she downloaded a recommended bridge game, she unknowingly received a ________, which ultimately damaged the hard drive on her computer. a.worm b.software application c.Trojan.
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  MULTIPLE CHOICE     A bundle of physical, service, and symbolic attributes designed to satisfy customer wants is called ________. a.the marketing mix b.packaging c.a product d.a brand name       A marketer focuses on a product’s ________. a.benefits   b.symbolic attributes   c.service attributes d.physical characteristics       Goods and services are classified as either consumer or business, depending on the ________. a.amount of service required on the item b.buying.
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    Kyle is putting together a presentation for senior management analyzing a potential new market. He is using his computer to create charts or graphs that he will then show as slides. Which of the following software programs is Kyle most likely using to create his presentation? a.Microsoft Word b.Microsoft Excel c.Microsoft Windows d.Microsoft PowerPoint       Chloe.
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    ESSAY   What is accounting? Provide examples of tasks that accountants perform.       Explain the differences between public accountants and management accountants.       All organizations perform three basic business activities. List and describe these activities.       Define GAAP and explain its purpose.     Explain the accounting equation.       .
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    Research indicates that the use of Internet coupons is on the decline.     Trade shows are different than major trade promotions.     Personal selling is often used for products that are technically complex.     Order processing involves identifying customer needs, pointing them out to customers, and completing orders.     Missionary selling is used for promoting the goodwill of.
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    Explain why companies and consumers often prefer sweepstakes to contests or games as a form of promotion.     Differentiate between a pushing and a pulling strategy.       Describe profitability objectives. How do some companies maintain prices while still increasing profitability?     Explain how marketers breakeven analysis.       Assume fixed costs equal $480,000. The selling price per unit is.
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    A food producer’s goods are carried by thousands of grocery stores across the country. Which of the following distribution channels is the manufacturer most likely to use? a.Producer to retailer to consumer b.Producer to wholesaler to retailer to consumer c.Producer to wholesaler to wholesaler to retailer to consumer d.Producer to consumer       The Pampered Chef sells.
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    Application software controls the basic workings of a computer system.     Adobe Acrobat is an example of a hardware program.     Local area networks allow computers to share the same printers, documents, and information.     A familiar example of wide area networks is long-distance telephone service.     There are only a select number of hot spots in public.
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    MULTIPLE CHOICE   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 Managers       Morgan 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 Morgan’s job? a.Auditor b.Systems.
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    Today more than ever, businesses with physical locations are finding themselves in competition with e-commerce businesses.     Complex, expensive products generally require long distribution channels.     The most common market coverage for low-priced convenience items is intensive distribution.     A selective distribution contract allows the retailer to carry an adequate inventory and provide service facilities.     The end.
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    TRUE/FALSE   An integrated marketing communications strategy focuses on customer needs to create unified promotional messages.     The promotional mix consists of two major components, personal selling and nonpersonal selling.     The fundamental purpose of promotion is to persuade and influence customers to purchase a product.     To gain a competitive advantage, marketers that utilize integrated marketing communications.
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    In the consumer’s mind, the service provider is the service.     A company’s product line is a group of related products marked by similar physical characteristics.     A company’s product mix refers to the same thing as a company’s product line.     Gillette produces several different types of razors. These different types of razors represent Gillette’s.
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  ESSAY   Explain the difference between data and information.     Describe the average company’s balance between high tech and low tech.       Define databases and describe how they are obtained and their uses.     Explain the difference between hardware and software. Give examples of both.       Describe two tips for communication etiquette for using wireless devices.     .
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    The use of literature and unusual visual aids is part of the ________. a.approach b.demonstration c.closing d.qualifying stage       Tanya is an account representative for an office supply corporation who frequently provides demonstrations to business professionals. When someone complained about the company’s fax machine, Tanya viewed the situation as an opportunity to ________. a.determine if the prospect.
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    Agents and brokers may take possession of the goods they handle, but they never take title.     Wholesalers are primarily owned by manufacturers.     Lands’ End and other catalog retailers are classified as non-store, direct sellers of goods.     One advantage of Internet retailing is that adding a large product mix to a Web site is.
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    Burger King recently announced plans to drop the price of its double cheese burger from $1.99 to just 99 cents in order to match McDonalds pricing. This is an example of a ____________. a.volume strategy   b.prestige objective c.profitability strategy d.price war     Which of the following pricing objectives has the most influence on Rolex’s (a luxury.
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    List and briefly explain the most widely used business applications of computers.     Describe a wide area network and explain how companies use it.       Describe at least two ways that common e-crimes occur:     Explain the differences among a virus, a worm, and a Trojan horse.         .
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    Ford is running ads emphasizing that it offers longer warranties than other automobile companies. 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       In the movie, The Social Network, the actor portraying Mark Zuckerberg is featured wearing products by Gap and the North Face..
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    Provide examples of ethical concerns regarding technology and information systems.     Provide the five important tasks for off-site data storage.     Identify four significant trends regarding information systems.   Significant trends regarding information systems include the growing demands of the so-called distributed workforce, the increased use of application service providers, on-demand computing, and cloud and grid.
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  MATCHING Complete the following using the terms listed. a.breakeven analysis b.promotional mix c.volume objectives d.institutional advertising e.discount pricing f.creative selling g.point-of-purchase advertising h.skimming pricing i.pushing strategy j.odd pricing k.integrated marketing communications l.cooperative advertising m.odd pricing     Pricing method that uses uneven amounts.     A(n) _____ relies on personal selling and sales promotion to market an item to wholesalers and retailers in a company’s distribution channels.   _____ is when a.
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    Information systems that are designed to provide support for effective decision making are called operational support systems.     An expert system is a computer program that imitates human thinking.     Credit card applications are often evaluated using executive systems.     DVD drives and monitors are examples of computer input devices.     An especially powerful midrange computer is called.
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    Mercedes-Benz is an example of a company that benefits from the added value of its successful name. This brand ________ can result in financial gain due to large market shares and less price sensitivity. a.Awareness b.Recognition c.Equity d.Association       Which of the following is not a role of packaging and labeling? a.Comply with government regulations b.Protect the product.
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    The largest type of computer system with the most extensive storage capacity and the fastest processing speeds is a ________. a.hand held device b.personal computer c.mainframe computer d.midrange system       Which of the following is a reason for the increasing popularity of notebook computers? a.more computing capacity than midrange systems b.limited displays c.faster processing speeds d.higher prices       Which of the following.
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    A building contractor is creating a southwestern-style restaurant in Manhattan. Which method of transportation would be best for shipping ceramic tile from New Mexico to New York? a.Truck b.Air c.Railroad d.Water       TRUE/FALSE   A product is a bundle of physical, service, and symbolic attributes.     One product may be considered a shopping product by one consumer and a convenience.
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    The Social Club is conducting a breakeven analysis to determine how many tickets it must sell at $20 each to break even on the Holiday Dance. Fixed costs are $4,000, and the variable cost per person is $10. To break even, the Social Club must sell ________ tickets. a.800 b.500 c.400 d.80       T-shirts Unlimited is.
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  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 rManagement accountant     A claim against a firm’s assets by a creditor is a(n) _____.   The _____ is a statement of a firm’s financial position on.
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    In which stage of the product life cycle do sales reach a saturation level, making further sales expansion difficult? a.Maturity stage b.Growth stage c.Introductory stage d.Decline stage       Greta has been analyzing the competitive standings of one of her products. Since she began her operation, 20 similar products have appeared, forcing her to change distribution strategies..
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    Marketers using a pushing promotional strategy might offer which of these services to marketing intermediaries? a.Trade discounts b.Cash discounts c.Promotional materials d.Cooperative advertising allowances         Promotion that is aimed at the ultimate consumer with the goal of generating demand for the good or service is based on a(n) ________. a.cooperative strategy b.pulling strategy c.pushing strategy d.emphasis on personal selling       When a.
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    Advertising is a global activity.     Advertising is a form of paid personal communication.     Television ads by State Farm, an insurance company, warning drivers against texting while driving are a type of institutional advertisement.     An ad claiming that Brand A works better than Brand B is an example of reminder-oriented advertising.     Persuasive advertising is often.
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    __________ involves a one-on-one presentation to a prospective buyer. a.Personal selling b.Creative selling c.Sales promotion d.Public relations       Businesses often spend ________ as much on personal selling as on advertising. a.twice b.almost c.between five and ten times   d.over three times       Sales personnel employed by companies such as IBM and Microsoft who offer technical assistance through consulting are primarily involved in ________. a.missionary.
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    Jamal, the service manager for a local Ford dealer, makes a point of sending out letters to all customers asking whether or not they are satisfied with their purchase. Jamal is conducting a follow-up.     Public relations is more important for not-for-profit organizations than for general corporations.     Public relations refers to an organization’s.
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    MULTIPLE CHOICE   Raw facts and figures are ________. a.data b.information c.a management information system d.the basis for business decision making       Which of the following is considered information rather than data? a.projected population growth in a target market b.a measure of the effectiveness of a promotional strategy c.income distribution in a target market d.product sales in various categories       Hannah is a television.
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    Charles works for Whirlpool and is producing a new washer/dryer unit. He is collaborating with the marketing staff to arrange for a series of designs, tests, and functioning prototypes. Charles is working in which stage of new-product development? a.Test marketing b.Screening c.Commercialization d.Product development       Which of the following is a reason why some firms skip.
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