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MARKETING FINAL REVIEW

Total questions: 45

Worksheet time: 23mins

Name
Class
Date
1.

A government charges a $0.184 tax on each gallon of gasoline, regardless of location or price. This is an example of ______ tax

a)

Sales

b)

Excise

c)

Estate

d)

Capital Gains

2.

A business wants to start selling its products in foreign markets. Managers study financial information to determine if the company has resources to undertake this new venture. This is an example of using financial information to

a)

plan business expansion

b)

Reduce expenses

c)

Monitor ongoing business operations

d)

Check up on the competition

3.

Which of the following is the first step in a business' accounting cycle

a)

Collecting the source documents

b)

Journalizing transactions

c)

Balancing the books

d)

Preparing financial statements

4.

What should accountants demonstrate when collecting accounting information and preparing financial documents?

a)

Empathy and flexibility

b)

An innovative attitude

c)

A collaborative mindset

d)

Professional integrity

5.

Which of the following is the accounting equation:

a)

Assets = Liabilities - Owners' Equity

b)

Owners' Equity = Assets x Liabilities

c)

Assets = Liabilities + Owners' Equity

d)

Liabilities = Owners' Equity + Assets

6.

Why do finance professionals continue to act unethically, despite the consequences?

a)

The finance field is full of temptations and pressures to be unethical

b)

They are greedy and only care about making as much money as they can

c)

They are always rewarded for their unethical behavior

d)

There are no legal consequences for unethical actions

7.

What technology is the most effective way to interview a job applicant who is located 1,500 miles away from the company's corporate office?

a)

Text messaging

b)

Videoconferencing

c)

Web-based email

d)

Intranet

8.

LMN Company is losing market share to the RST Corporation. LMN can quickly obtain useful information about the RST's product offerings by

a)

evaluating industry standards

b)

analyzing economic reports

c)

obtaining feedback from RST's employees

d)

visiting RST's website

9.

In which of the following ways can a producer take advantage of information about an expanding market:

a)

By deleting current product lines

b)

By increasing production

c)

By laying off employees

d)

By buying risk protection insurance

10.

Kelli accesses a professional association's website to review information about employment trends in a specific industry. What type of research data is Kelli obtaining?

a)

Primary

b)

Internal

c)

Secondary

d)

Intermediate

11.

The TUV Company wants to conduct marketing research by surveying a sample of its vast customer base. What should companies use to reduce the possibility of bias?

a)

Referral sampling

b)

Telephone interviews

c)

Random sampling

d)

Personal interviews

12.

Which of the following is a technique that businesses can use to monitor their competitors' activities:

a)

Reviewing buying motives

b)

Analyzing economic factors

c)

Studying regional data

d)

Reading annual reports

13.

Which of the following statements about retrieving data for marketing decision-making is true:

a)

The less data you retrieve, the better.

b)

Many employees are involved in the process.

c)

The process should be conducted once a year

d)

Not all companies need to retrieve data

14.

What is an effective data-collection method that provides accurate information about how people behave under normal circumstances?

a)

Interview

b)

Survey

c)

Experiment

d)

Observation

15.

One reason that a business might use a telephone survey to collect marketing information instead of sending a survey through the mail is because direct mail surveys often

a)

yield low response rates

b)

include objective questions

c)

provide immeasurable data

d)

confuse the survey coders

16.

An effective marketing-research questionnaire includes questions or statements that are written

a)

to address many issues or topics

b)

to reflect the researcher's personality

c)

in an objective way

d)

in an ambiguous way

17.

A marketing survey that contains questions that are to be answered on a scale of 1 to 5 with 1 being the worst and 5 being the best is an example of

a)

sorting

b)

tabulating

c)

coding

d)

marking

18.

What do researchers often use to summarize and interpret vast amounts of numeric information?

a)

Research questionnaires

b)

Descriptive statistics

c)

Hypothetical samples

d)

Independent variables

19.

A research study participant providing incorrect information on a questionnaire is an example of a

a)

feedback method

b)

negative answer

c)

false positive

d)

response error

20.

A company needs to conduct marketing research before launching a new product, but its marketing department doesn't have a lot of money. If it wants to keep costs down, it should

a)

avoid doing marketing research

b)

conduct in-person interviews

c)

conduct online surveys

d)

develop a week-long focus group.

21.

Natalie searched for 45 minutes to locate an important file folder, which she found under a pile of papers in an unmarked box that was stored under her desk. What action did Natalie fail to take that would have increased her efficiency and saved the company money?

a)

Staying organized

b)

Staying on task

c)

Using supplies wisely

d)

Observing safety standards

22.

Marketers plan where they need to go and how to get there efficiently in order to

a)

achieve satisfying connections

b)

lay out their strategies

c)

measure their success

d)

agree upon a goal

23.

Which of the following is an important benefit of marketing plans:

a)

They can help obtain funding

b)

They develop exciting products

c)

They help recruit quality employees

d)

They ensure a yearly profit

24.

The description of the quality, variety, and style of goods or services sold by your business should be included in your marketing plan's __________ section

a)

product

b)

price

c)

place

d)

promotion

25.

A situation analysis reveals that Pullman Industries will need to increase its minimum wage to $8.75 per hour in three months or face severe government fines for noncompliance. This is an example of a _________ factor that affects businesses.

a)

technological

b)

regulatory

c)

secondary

d)

managerial

26.

The primary reason for a business to forecast sales is to obtain information to use in

a)

advertising copy

b)

business planning

c)

staff training

d)

evaluating salespersons

27.

Which of the following is an example of unethical business behavior in relation to information management:

a)

Keeping employees' payroll records in unsecured computer databases

b)

Telling employees that the business may monitor their telephone calls at work

c)

Sharing customers' personal information with others with customers' permission

d)

Using opt-in email to communicate product information with customers

28.

How has technology changed the nature of competition?

a)

Competition has significantly decreased

b)

Companies must stay in step with new technologies

c)

Only big companies can stay competitive

d)

All competition is now conducted online

29.

A business wants to send a mailing to all customers who have ordered at least $2,500 in merchandise in the past year. To obtain the appropriate list of customers, the business should set the query by

a)

product code and zip code

b)

last name and account number

c)

sales dollars and dates.

d)

credit rating and location

30.

Which of the following is an example of an integrated software application:

a)

SMS

b)

Java

c)

Point-of-sale

d)

URL

31.

Ken is developing a web page for a new bed-and-breakfast inn. He wants to add information on the web page that describes local tourist attractions and restaurants. To allow website visitors the ability to visit these other websites from the bed-and breakfast inn's website, Ken should create

a)

a site map

b)

portals

c)

cookies

d)

hyperlinks

32.

You have a large amount of customer data at your office, and you want to sort through the information and find patterns. You should use data

a)

entry

b)

elimination

c)

mining

d)

creation

33.

What are the day-to-day activities required for a business to function?

a)

Finances

b)

Production

c)

Operations

d)

Selling

34.

Every project creates a(n)

a)

new product

b)

deliverable

c)

company

d)

advertising plan

35.

Which of the following is a tool that is specifically designed to schedule and track their projects:

a)

Pyramid diagram

b)

Gantt chart

c)

Bubble chart

d)

Venn diagram

36.

Which of the following is an example of a semi-variable expense:

a)

Maintenance

b)

Property taxes

c)

Overtime

d)

Utilities

37.

During a job interview, it is important to monitor nonverbal cues including your

a)

handshake and vocal intensity

b)

posture and eye contact

c)

diction and arm gestures

d)

clothing and pitch

38.

Which of the following is an example of career advancement within a company:

a)

When James reached his 25-year anniversary as production manager of Whitman Manufacturing, he decided to retire.

b)

After RQW Technologies offered Dylan a similar management position and 15% salary increase, he resigned as systems manager with TechFi.con

c)

Audrey was hired as a sales coordinator, was promoted to salesperson, and is now sales manager of CTK Corporation.

d)

Julia accepted a marketing manager position with GZA International because she became bored with her advertising coordinator position with Drexall Publishing

39.

Which of the following is an example of a businessperson obtaining professional development:

a)

Zoe reviews online publications to obtain information for a report that she is writing

b)

Theo attends a seminar about product-standard changes that are affecting his industry

c)

Nick asks his manager if he should attend a company meeting that is being held next month

d)

Talia organizes a community-service event that her employer sponsors every year

40.

Kwacky Kwackers needs a new package design for its crackers. What marketing professional would be responsible for creating the new package?

a)

Marketing research

b)

Product management

c)

Advertising

d)

Channel management

41.

Inez runs an organic soap-making business. If she gives her soap a high price, she is most likely to attract customers who

a)

are looking for prestige

b)

want to save money

c)

like to buy from local merchants

d)

do their shopping online

42.

One advantage of using certain software programs in the process of determining price is that these programs allow businesses to find out what effect different prices will have on the

a)

target market

b)

bottom line

c)

competition

d)

operating cost

43.

To prevent unfair loss-leader pricing practices, some governments have passed laws that require businesses to set prices that

a)

maintain price floors

b)

appeal to customers

c)

encourage coupon use

d)

maximize discounts

44.

Which of the following is prohibited by government regulation:

a)

Businesses that show the price per unit along with the total price of the item

b)

Businesses that avoid agreeing on a price range for a product

c)

Businesses that offer premiums without explaining the terms to the customer

d)

Businesses that charge the same price to similar customers in similar situations

45.

Which of the following is a reason that many products go into decline:

a)

The market is saturated

b)

Customer tastes stay the same

c)

No better products are available

d)

They are outlawed by the government