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Study Resources (Business Management)

  21.Diet Coke is a  A. generic brand. B. private distributor brand. C. brand mark. D. brand name. E. brand denotation. 22.Private distributor brands  A. are identified by manufacturer. B. are used to reduce the efficiency of production. C. are owned and controlled by a wholesaler or retailer. D. are owned and controlled by a manufacturer. E. have no brand name at all. Essay Questions 23.What identifies products and distinguishes them from other products?  24.Identify.
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  True / False Questions 32.Trying to determine buyers' needs and wants is easy because marketers fully understand what motivates people to buy things.  33.Everyone in the organization who interacts with customers must know what customers want.  34.If you build a better mousetrap, consumers will beat a path to your door.  35.The marketing concept is.
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  62.If a company paid its workers additional compensation at the end of the year as a thank-you for good work, this would most likely be called  A. wages. B. commission. C. a salary. D. profit sharing. E. a bonus. 63.An employee stock ownership plan is  A. a wage. B. a bonus. C. profit sharing. D. a salary. E. a commission. 64.Which of the following is not a benefit?  A. Vacation time B. Health insurance C. Pension plans D. Salary E. Child care Essay.
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  True / False Questions 16.A marketer must understand buyers' needs and desires to determine what products to make available.  17.Transporting includes warehousing goods.  18.The financing function expedites purchases through making credit available.  19.Spending money to hire a sales force or to conduct marketing research does not involve risks.  20.Buying expedites the exchange process and marketers.
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  Multiple Choice Questions 91.Shelly's business was successful for all of the following reasons except  A. quality product. B. appropriate incentives for employees. C. productive employees. D. employees who enjoyed being part of a new business. E. she had no competitors. 92.After demand began to accelerate beyond supply, Mrs. Acres Homemade Pies was faced with a series of options. Which of the following.
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  True / False Questions 63.A marketing information system is a framework for accessing information about customers.  64.Secondary data are information observed and recorded or collected regularly from sources inside and outside the organization.  65.Buying behavior is the decision processes and actions of people who buy and use products.  66.Attitude is a social variable of.
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  57.If a company markets to a segment of people who have a certain lifestyle, the type of segmentation being used is  A. behavioristic. B. geographic. C. topographic. D. psychographic. E. demographic. 58.The marketing mix is a combination of  A. product, price, promotion, and distribution. B. compensation, regulation, segmentation, and ethics. C. sales, advertising, and publicity. D. product, price, advertising, and distribution. E. product, sales, advertising, and segmentation. 59.Which of the following can.
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  79.The forces in the marketing environment are totally uncontrollable.  80.Social concerns have led marketers to design and market safer toys for children, prescription drugs, and safer and healthier food products.  81.Competitive and economic forces in the marketing environment include technological issues.  Multiple Choice Questions 82.Which of the following is not a competitive or economic.
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  32.Performance appraisal is one of a manager's most difficult tasks.  33.On a performance appraisal, an objective assessment is quantifiable and must take into account the work environment.  Multiple Choice Questions 34.Orientation is the human resources function that  A. includes tours, introductions, and socialization. B. provides on-the-job training. C. isappropriate to omit. D. develops equal pay information. E. occurs after the employee is on.
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  11.The exchange process is  A. value added to products. B. at the heart of all business. C. the price of a product. D. satisfaction of the seller's needs. E. the source of credit. 12.An exchange is  A. always made with cash. B. always made with credit. C. seldom satisfactory to all parties involved. D. giving up something in return for something else. E. made within 24 hours. 13.What most consumers want is.
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  True / False Questions 67.Employees who are dissatisfied with their working conditions or compensation have to negotiate with a labor union to bring about change.  68.Givebacks are concessions made by management to keep workers working.  69.Picketing is a public protest against management practices.  70.A lockout is a court order that keeps employees from striking.  Multiple.
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  73.Increased unemployment can reduce consumer demand for goods and services, leading to  A. economic expansion. B. inflation. C. deflation. D. a budget deficit. E. recovery. 74.A budget surplus, when a nation spends less than it takes in from taxes, is the opposite of a(n)  A. stagnant income. B. budget deficit. C. economic expansion. D. balance of trade. E. economic contraction. Essay Questions 75.What is an economic contraction, and what can it lead to?  76.Discuss.
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  58.Agricultural commodities are usually sold under which competitive environment?  A. Monopoly B. Monopolistic competition C. Pure competition D. Oligopoly E. Modified competition 59.___________ exists when there are many small businesses selling one standardized product.  A. Monopolistic competition B. Oligopoly C. Pure competition D. Monopoly E. Market structure 60.When there is only one business providing a product in a given market, there exists  A. an oligopoly. B. unfair competition. C. pure competition. D. monopolistic competition. E. a monopoly. Essay Questions 61.Define supply, demand, and equilibrium.
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  Multiple Choice Questions 19.Internal recruiting has advantages over external sources, one of which is  A. improved employee morale. B. higher costs. C. a longer period of adjustment to the new job. D. more time to find the right candidate. E. higher turnover rate. 20.______ is forming a pool of qualified applicants from which management can select new employees.  A. Human resources management B. Interviewing C. Headhunting D. Selecting E. Recruiting 21.Professionals who specialize.
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  True / False Questions 63.Economic expansion occurs when an economy is growing and people are spending more money.  64.The standard of living rises because people have less money to spend.  65.A severe recession may turn into a depression.  66.Gross domestic product is the sum of all goods and services produced in a country during.
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  40.In a capitalist system, individuals own and operate ____ businesses.  A. no B. few C. about half D. many E. the majority of 41.In a socialist system, citizens are dependent on _________ for many goods and services.  A. the government B. the people C. businesses D. supply and demand E. suppliers 42.____ is often called the father of capitalism.  A. Karl Marx B. George Washington C. Benjamin Franklin D. Alan Greenspan E. Adam Smith 43.Equal distribution of income and social services is also.
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  80.When Honda pays a television network to air its commercial, it is using  A. publicity. B. advertising. C. personal selling. D. sales promotion. E. packaging. 81.Which of the promotion mix variables is best for promoting expensive products with specialized uses, such as houses?  A. Publicity B. Advertising C. Personal selling D. Sales promotion E. Packaging 82.When an airline company reacts to a plane crash with press conferences, news releases, and having company.
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  True / False Questions 1.Marketing creates value by allowing individuals and organizations to obtain what they want and need.  2.Marketing is just selling and advertising.  3.If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has.  4.Marketing occurs only in large business.
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  True / False Questions 47.A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.  48.A target market is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and.
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  11.The document that contains an overview of a job's title, tasks, relationships with other jobs, physical and mental skills required, duties, and responsibilities is referred to as a job  A. evaluation. B. analysis. C. description. D. policy. E. procedure. 12.The qualifications necessary for a specific job are spelled out in the job ___________  A. evaluation. B. specification. C. analysis. D. description. E. assessment. Essay Questions 13.What is human resources management?  14.What is the difference.
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  Essay Questions 90.What is the marketing environment?  Multiple Choice Questions 91.What does Ventura Motors make?  A. Trucks B. Lawnmowers C. Compact cars D. Midsize and luxury vehicles E. Jets 92.What is the problem Ventura Motors is experiencing?  A. There is no demand for its cars anymore B. Most demand is coming from China, but the company does not have distribution channels established there C. Ventura Motors is selling too many.
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  True / False Questions 1.Managing the quantity and quality of employees is not an important managerial function.  2.Work by management theorists such as Herzberg has helped managers to better understand human relations.  3.The planning function of human resources management includes determining the status of current personnel when planning human resource needs for the.
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  41.After the production orientation came the sales orientation of the mid-twentieth century. Supply exceeded demand for many products and ________ and _________ became the most important marketing activities.  A. advertising; selling B. product development; distribution C. product development; promotion D. pricing; promotion E. pricing; distribution 42.Which of the following requires organizations to gather information about customer needs, share that information throughout.
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  48.The equilibrium price is represented by the point where a product's supply and demand curves intersect.  49.Monopolistic competition exists when there is only one producer of a product in a given market.  50.An oligopoly exists when there are many small businesses selling one standardized product.  51.A product's equilibrium price is constantly changing in.
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  11.If a business is to be successful in the long run, it must produce quality products, operate efficiently, and be  A. fun. B. socially responsible. C. hard working. D. egalitarian. E. transparent. 12.Which of the following is not a product?  A. A Dell personal computer B. A veterinarian's treatment of a pet's injuries C. A lawyer's advice in a divorce case D. A business profit E. A checkup by a doctor 13.The.
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  87.Having a diverse workforce has many benefits. One benefit is  A. faster decision making. B. increased conflict among workers of different cultural groups. C. decreased employee commitment. D. a greater ability to serve the needs of a diverse customer base. E. decreased costs associated with reaching diverse target markets. 88.All of the following are organizational benefits of fostering and valuing workforce.
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  Essay Questions 27.What are some of the legal issues involved in recruiting and selecting potential employees?  28.What are some external sources for firms to search in order to find qualified applications to fill positions?  True / False Questions 29.Orientation introduces a new employee to the ethics and culture of the new company.  30.Training involves teaching.
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  True / False Questions 70.Factors such as characteristics of the intended audience, the objective, and the platform used can all affect how an advertising campaign is constructed and its message.  71.The Internet is not a valid advertising medium.  72.Promotion is used only to sell products.  73.Advertising is direct, two-way communication with buyers and potential.
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  True / False Questions 1.Successful companies offer at least one dimension of value that surpasses all competitors in meeting customer expectations.  2.Raw materials are natural products taken from the earth and are a subset of business products.  3.Products can be goods, services, and ideas.  4.Of the thousands of products introduced every year, most succeed.  5.New.
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  26.When a computer manufacturer provides stores with credit to encourage them to carry their computers in stores, the manufacturer is involved in the marketing function of  A. discounting. B. profiteering. C. banking. D. buying. E. financing. 27.Acme Inc. is surveying customers as to what kinds of services they would like the company to add. It is involved in the marketing function.
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  True / False Questions 30.A central issue of economics is how to fulfill an unlimited demand for goods and services in a world with limited resources.  31.Capitalism is an economic system in which the government owns and operates basic industries while individuals own most other businesses.  32.Most socialist nations are democratic.  33.In a free-market.
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  73.Which of the following is a psychological variable of buyer behavior?  A. Roles B. Personality C. Reference groups D. Social classes E. Culture 74.Anna is active in recycling and tree-planting programs in her community and she refuses to buy products that have excessive packaging. This illustrates which of the following factors of buyer behavior?  A. Attitude B. Personality C. Social class D. Motivation E. Reference group 75.When Bill Wilson became a father.
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  Essay Questions 53.What are some of the reasons employees separate from an organization? List as many as you can think of.  True / False Questions 54.Designing a fair compensation plan for employees is important because wages and salaries represent a substantial portion of an organization's expenses.  55.Wages are based on the number of hours.
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  True / False Questions 1.Products have tangible attributes only.  2.The primary goal of business activities is profit.  3.Nonprofit organizations such as Habitat for Humanity do not engage in management, marketing, or finance activities.  4.Profit is what it costs to make and sell a product.  5.Businesses have the right to keep and use their profits as.
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  11.During which stage does the firm gear up for full-scale production, distribution, and promotions?  A. Idea development B. Commercialization C. Product development D. Test marketing E. Idea screening 12.A light bulb used to provide light for workers on an assembly line would be classified as what type of product?  A. Mechanical B. Technical C. Business D. Commercial E. Consumer 13.Magazines located next to the checkout counter at a grocery store would probably.
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  Multiple Choice Questions 21.The functions of organizing, staffing, planning, and controlling are most closely associated with  A. employees. B. customers. C. managers. D. stockholders. E. accountants. 22.Which of the following functions involves activities designed to provide goods and services that fulfill needs and desires of consumers?  A. Accounting B. Engineering C. Finance D. Production E. Marketing 23.Advertising, personal selling, coupons, and sweepstakes are forms of _____.  A. publicity B. promotion C. marketing research D. management activities E. the marketing mix 24.When a business fails.
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  True / False Questions 26.Price discounts are often employed to boost sales.  27.Price is the least flexible variable in the marketing mix.  28.Pricing objectives are influenced solely by marketing mix decisions.  29.Maximizing profits and sales, boosting market share, maintaining the status quo, and survival are common pricing objectives.  30.Price skimming is charging a low price.
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  Multiple Choice Questions 82.The early economy of the United States was marked by colonists who operated a society based primarily on  A. manufacturing. B. technology. C. sweat shops. D. information. E. agriculture. 83.All of the following are associated with the Industrial Revolution except  A. cotton gins. B. railroads. C. farm equipment. D. computers. E. assembly lines. 84.In the history of the American economy, the period or stage following the Industrial Revolution was known.
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  True / False Questions 42.A transfer involves advancement to a higher-level position with increased authority, responsibility, and pay.  43.Transfers allow workers to obtain new skills.  44.A separation is a horizontal move from one job to another within a company.  45.Managers must take care to warn employees when their performance is unacceptable.  Multiple Choice Questions 46.When Sophia.
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  Essay Questions 89.Describe the difference between a pull and a push promotional strategy.  90.What is promotional positioning?  Multiple Choice Questions 91.What might allow Deluxe Chips to spend its marketing dollars more effectively?  A. Hiring a really low-end advertising agency B. Making its products available to a very limited area C. Promoting its new products only on Facebook D. Matching products to neighborhoods.
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  Essay Questions 78.Discuss tactics labor and management may use to gain their objectives.  True / False Questions 79.Secondary characteristics of diversity are inborn and cannot be changed.  80.One of the benefits of diversity in the workforce is the ability to better serve the needs of a culturally diverse customer base.  81.Increased diversity among an organization's.
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