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WorksheetsMARKETING FINAL REVIEW
Total questions: 45
Worksheet time: 23mins
A government charges a $0.184 tax on each gallon of gasoline, regardless of location or price. This is an example of ______ tax
Sales
Excise
Estate
Capital Gains
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
plan business expansion
Reduce expenses
Monitor ongoing business operations
Check up on the competition
Which of the following is the first step in a business' accounting cycle
Collecting the source documents
Journalizing transactions
Balancing the books
Preparing financial statements
What should accountants demonstrate when collecting accounting information and preparing financial documents?
Empathy and flexibility
An innovative attitude
A collaborative mindset
Professional integrity
Which of the following is the accounting equation:
Assets = Liabilities - Owners' Equity
Owners' Equity = Assets x Liabilities
Assets = Liabilities + Owners' Equity
Liabilities = Owners' Equity + Assets
Why do finance professionals continue to act unethically, despite the consequences?
The finance field is full of temptations and pressures to be unethical
They are greedy and only care about making as much money as they can
They are always rewarded for their unethical behavior
There are no legal consequences for unethical actions
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?
Text messaging
Videoconferencing
Web-based email
Intranet
LMN Company is losing market share to the RST Corporation. LMN can quickly obtain useful information about the RST's product offerings by
evaluating industry standards
analyzing economic reports
obtaining feedback from RST's employees
visiting RST's website
In which of the following ways can a producer take advantage of information about an expanding market:
By deleting current product lines
By increasing production
By laying off employees
By buying risk protection insurance
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?
Primary
Internal
Secondary
Intermediate
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?
Referral sampling
Telephone interviews
Random sampling
Personal interviews
Which of the following is a technique that businesses can use to monitor their competitors' activities:
Reviewing buying motives
Analyzing economic factors
Studying regional data
Reading annual reports
Which of the following statements about retrieving data for marketing decision-making is true:
The less data you retrieve, the better.
Many employees are involved in the process.
The process should be conducted once a year
Not all companies need to retrieve data
What is an effective data-collection method that provides accurate information about how people behave under normal circumstances?
Interview
Survey
Experiment
Observation
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
yield low response rates
include objective questions
provide immeasurable data
confuse the survey coders
An effective marketing-research questionnaire includes questions or statements that are written
to address many issues or topics
to reflect the researcher's personality
in an objective way
in an ambiguous way
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
sorting
tabulating
coding
marking
What do researchers often use to summarize and interpret vast amounts of numeric information?
Research questionnaires
Descriptive statistics
Hypothetical samples
Independent variables
A research study participant providing incorrect information on a questionnaire is an example of a
feedback method
negative answer
false positive
response error
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
avoid doing marketing research
conduct in-person interviews
conduct online surveys
develop a week-long focus group.
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?
Staying organized
Staying on task
Using supplies wisely
Observing safety standards
Marketers plan where they need to go and how to get there efficiently in order to
achieve satisfying connections
lay out their strategies
measure their success
agree upon a goal
Which of the following is an important benefit of marketing plans:
They can help obtain funding
They develop exciting products
They help recruit quality employees
They ensure a yearly profit
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
product
price
place
promotion
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.
technological
regulatory
secondary
managerial
The primary reason for a business to forecast sales is to obtain information to use in
advertising copy
business planning
staff training
evaluating salespersons
Which of the following is an example of unethical business behavior in relation to information management:
Keeping employees' payroll records in unsecured computer databases
Telling employees that the business may monitor their telephone calls at work
Sharing customers' personal information with others with customers' permission
Using opt-in email to communicate product information with customers
How has technology changed the nature of competition?
Competition has significantly decreased
Companies must stay in step with new technologies
Only big companies can stay competitive
All competition is now conducted online
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
product code and zip code
last name and account number
sales dollars and dates.
credit rating and location
Which of the following is an example of an integrated software application:
SMS
Java
Point-of-sale
URL
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 site map
portals
cookies
hyperlinks
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
entry
elimination
mining
creation
What are the day-to-day activities required for a business to function?
Finances
Production
Operations
Selling
Every project creates a(n)
new product
deliverable
company
advertising plan
Which of the following is a tool that is specifically designed to schedule and track their projects:
Pyramid diagram
Gantt chart
Bubble chart
Venn diagram
Which of the following is an example of a semi-variable expense:
Maintenance
Property taxes
Overtime
Utilities
During a job interview, it is important to monitor nonverbal cues including your
handshake and vocal intensity
posture and eye contact
diction and arm gestures
clothing and pitch
Which of the following is an example of career advancement within a company:
When James reached his 25-year anniversary as production manager of Whitman Manufacturing, he decided to retire.
After RQW Technologies offered Dylan a similar management position and 15% salary increase, he resigned as systems manager with TechFi.con
Audrey was hired as a sales coordinator, was promoted to salesperson, and is now sales manager of CTK Corporation.
Julia accepted a marketing manager position with GZA International because she became bored with her advertising coordinator position with Drexall Publishing
Which of the following is an example of a businessperson obtaining professional development:
Zoe reviews online publications to obtain information for a report that she is writing
Theo attends a seminar about product-standard changes that are affecting his industry
Nick asks his manager if he should attend a company meeting that is being held next month
Talia organizes a community-service event that her employer sponsors every year
Kwacky Kwackers needs a new package design for its crackers. What marketing professional would be responsible for creating the new package?
Marketing research
Product management
Advertising
Channel management
Inez runs an organic soap-making business. If she gives her soap a high price, she is most likely to attract customers who
are looking for prestige
want to save money
like to buy from local merchants
do their shopping online
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
target market
bottom line
competition
operating cost
To prevent unfair loss-leader pricing practices, some governments have passed laws that require businesses to set prices that
maintain price floors
appeal to customers
encourage coupon use
maximize discounts
Which of the following is prohibited by government regulation:
Businesses that show the price per unit along with the total price of the item
Businesses that avoid agreeing on a price range for a product
Businesses that offer premiums without explaining the terms to the customer
Businesses that charge the same price to similar customers in similar situations
Which of the following is a reason that many products go into decline:
The market is saturated
Customer tastes stay the same
No better products are available
They are outlawed by the government
