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BUS101 Exam #3 Practice Test
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Questions in this quiz (80)
1Primary Data tends to be lower in cost than secondary data.
- ATrue
- BFalse
2An advantage of an expert system is that it is capable of solving a wide variety of problems, including those that are quite different from the problems it was originally designed to solve.
- ATrue
- BFalse
3The social/cultural element of the marketing environment covers a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts.
- ATrue
- BFalse
4In the context of branding, line extensions are similar products offered under the same brand name.
- ATrue
- BFalse
5The commerce ministry of Setina Islands, a tax haven country, has been advertising the country's business opportunities and tourist-friendly culture in various international magazines. The advertisements illustrate idea marketing.
- ATrue
- BFalse
6According to Maslow's hierarchy of needs theory, safety needs to refer to the need to feel free of harm and fear.
- ATrue
- BFalse
7Plateus Inc., a warehouse club, is considered a channel intermediary because it purchases chocolate for Chocodelight Chocolatiers and sells it to customers.
- ATrue
- BFalse
8In the context of the factors of job enrichment, the term autonomy means that workers have freedom and authority regarding their jobs.
- ATrue
- BFalse
9The price of a product must be relative to the benefits of that product.
- ATrue
- BFalse
10In the context of non-store retailers, vending machines are a key element of multilevel marketing.
- ATrue
- BFalse
11Cannibalization occurs when a producer offers a new product that takes sales away from an existing product
- ATrue
- BFalse
12The internet is a network of networks, consisting of hundreds of thousands of smaller networks operating under a common set of protocols so that they can communicate with each other.
- ATrue
- BFalse
13Greg owns a furniture business and produces only enough goods to meet the current demands. This helps him save inventory-holding costs. In the given scenario, Greg uses just-in-time (JIT) production.
- ATrue
- BFalse
14Data becomes information when they are processed, organized, and presented in a way that makes them useful to a decision maker.
- ATrue
- BFalse
15Centralized companies typically respond more quickly to customer needs than decentralized companies.
- ATrue
- BFalse
16In the context of the distribution strategy of a product, no one stands between the producer and the customer in a direct distribution channel.
- ATrue
- BFalse
17In the context of strategic planning, the strategic goals of an organisation represent concrete benchmarks that managers can use to measure performance in each key area of the organization.
- ATrue
- BFalse
18The first-line management of a firm includes managers who supervise lower-level managers and report to a higher-level manager
- ATrue
- BFalse
19In business to business (B2B) e-commerce, customers usually do little or no research before making a purchase
- ATrue
- BFalse
20Over the last five decades, operations management has experienced a shift in focus from effectiveness to efficiency.
- ATrue
- BFalse
21Love Your Feet Inc, a shoe manufacturing company, tries to acquire a certification from the International Organization for Standardization. It ensures the authorities that it continually improves its environmental performance and implements a systematic approach to setting environmental targets and to achieving those targets. In this scenario, which of the following certifications is Love Your Feet Inc trying to acquire?
- AISO 9000
- BISO 13485
- CISO 14001
- DISO 22000
22In the 1960s, operations management focused on:
- Ahaving complex value chains
- Bthe production of goods
- Cmass customization
- Denvironmental conservation
23_____ is often referred to as the world's largest computer network
- AThe internet
- Ba cloud-based network
- Cthe extranet
- Dthe kernel
24Lucy opens a restaurant that uses only organic ingredients in its dishes. The restaurant quickly gains popularity as its customer recommend it to their friends and family. In this scenario, Lucy's restaurant business is benefiting from _____.
- Asocial marketing
- Bguerrilla marketing
- Ccall-to-action marketing
- Dclose range marketing
25Identify a difference between B2B transactions and B2C transactions
- AB2B transactions often involve much larger sums of money than B2C transactions
- BB2B transactions often require less negotiation than B2C transactions
- CB2B transactions result in short-term supply chain relationships whereas B2C transactions result in long-term supply chain relationships
- DB2B transactions require little collaboration between buyers and sellers whereas B2C transactions require close collaboration between buyers and sellers
26Which of the following business product categories refer to large capital purchases made by a company that are designed for a long productive life?
- Aconvenience products
- Binstallations
- Cunsought products
- Daccessories
27Dekak motors, a car manufacturer, launches a new car that is priced much lower than other cars in the same segment. The firm is able to keep costs down by eliminating processes that do not add value to the product and by employing skilled workers who can perform multiple tasks. From the given information, it can be inferred that Dekak Motors most likely _____.
- Auses a traditional assembly line
- Bhas a fixed position layout
- Ccarries a large inventory of raw materials
- Duses lean production
28Which of the following statements is true of penetration pricing?
- APenetration pricing makes sense only in categories that have a significant group of customers who would be willing to pay a premium
- BPenetration pricing involved increasing product prices to target upscale customers
- CA company using penetration pricing makes profit from the volume of sales
- DA company using penetration pricing gains a very high profit on each individual sale
29Tender Love, a company that manufactures maternity care products, holds workshops from time to time. During the workshops, trained professionals show expectant mothers different exercises that can be done during their pregnancy. The trainers also demonstrate some of the company's products to the participants. This scenario is an example of _____.
- Asocial selling
- Bgreen marketing
- Ccause-related selling
- Dmissionary selling
30In the context of strategic planning, which of the following is true of mission statements?
- AThey contain information about the corporate responsibility activities of a company
- BThey are similar in length and language across organizations
- CThey are confidential and are created for circulation only within an organization
- DThey provide a clear, long-term focus for an organization
31Firms create ____ by offering limited access to certain areas of their private network to a selected group of stakeholders
- AOpen systems
- BExpert systems
- CFirewalls
- DExtranets
32Which of the following marketing strategies can be best employed for attracting tourists?
- APlace marketing
- BIdea marketing
- CGreen marketing
- DPeople marketing
33____ are brands that the producer owns and markets
- AStatus brands
- BStore brands
- CUmbrella brands
- DNational brands
34According to Maslow's hierarchy of needs theory, which of the following is most likely to satisfy the esteem needs of an employee?
- AA team outing arranged by the company for all its employees
- BA new laptop given to an employee for his or her hard work
- CA company providing an insurance plan that covers an employees parents
- DA company providing better safety equipment to its employees
35Which of the following statements is true of distributors in a channel of distribution?
- AThey increase the number of transactions for goods to flow from producers to consumers
- BThey are always owned by producers
- CThey add value in a number of different ways to products
- DThey make distribution channels more complex
36During the selling era of marketing, supply in many categories exceeded demand. This led to the:
- Afocus on developing long-term customer relationships
- Bconception of the marketing concept
- Cfocus on delivering unmatched value to customers
- Demergence of the hard sell
37Odd pricing refers to the practice of
- Acharging different prices at odd intervals rather than maintaining stable and predictable pricing
- Bending prices in numbers below even dollars and cents
- Ccharging prices that differ significantly from competitors' prices
- Dsetting prices based on a statistical analysis of the amount customers are willing to pay
38____ refers to marketing, buying, selling, and servicing of products over a network, usually the internet.
- Ae-commerce
- Bmedia based networking
- Cinventory management
- Dgroup buying
39Acornadain Inc, a total marketing solutions company based in London, has separate teams based on functional areas like digital marketing, traditional marketing, advertising, public relations, client servicing, etc. The entire company is divided in such a way that people with their specific areas of expertise have to focus on only those areas for maximum results. In this case, Acornadian Inc. is engaged in the practice of
- Aphase synchronization
- Bsegmentation
- Cdepartmentalization
- Dcentralization
40Saturn Systems, an electronic goods manufacturer, sells its LED bulbs to Shockwave Enterprise, which in turn sells those bulbs to final consumers. In this scenario, Shockwave Enterprise is a _____
- Awholesaler
- Bproducer
- Cretailer
- Dbroker
41In the context of product adoption and diffusion, which of the following questions relates to the product characteristic of observability?
- AHow visible the product is to other potential consumers
- Bhow easily can potential consumers sample the new product
- Ccan potential consumers easily understand what your product is and how it works?
- Dhow consistent is your product with the existing way of doing things?
42Andrew has spent a lot of time gathering information about his top two clients and has decided to make them participate in his latest product development project. Andrew is trying to establish a ____ with his clients
- AFull partnership
- Bdistinct relationship
- Cpartial partnership
- Dlimited partnership
43____ is the process of continually collecting information from the external marketing surroundings
- Aglobalized marketing
- Btarget marketing
- Cenvironmental scanning
- Dmarket segmentation
44Identify a true statement about cloud computing
- AIt encourages collaboration among employees and business partners
- BIt drastically reduces the processing speed of computer
- CIt subjects a users computer to an intruder attack
- DIt allows users to access their data from any computer without an internet connection
45In the context of B2B markets, e-marketplaces
- Arequire expensive dedicated connections between firms
- Bincrease the time, effort, and cost of doing business for both buyers and sellers when compared to older methods
- Climit the number of market participants with whom the sellers and buyers can negotiate
- Dhelp in forging tighter supply chain relationships
46Which of the following cybermediaries operates Braintree, which is used to handle companies web and mobile payments
- AEzetap
- BPaypal
- CPayLNK
- DVenmo
47Which of the following modes of transportation provides the lowest flexibility in handling?
- AShips
- BTrucks
- CRailroads
- DPipelines
48Which of the following statements is true of copyright law?
- AIt gives the creators of intellectual property the exclusive right to produce, perform, and sell their work for a specified time period
- BOnce an intellectual property is copyrighted, its further use is restricted forever
- CCopyrighting a product ensures that its protected from piracy
- DIt gives individuals the right to reproduce the pirated version of an intellectual property after the death of its original creator
49Someone who is using a program that protects their computer from the risk of unwanted messages and other security threats is using _____
- Aa firewall
- Bspyware
- Cmalware
- Da spam filter
50Abram is a manager at Runa Marcus Corp, a company that runs a womens lifestyle magazine. Abrams strong points are his creative writing skills and expertise in photo editing software. Thus although he is in a managerial role he is able to assist the employees in these functional areas. In the context of management skills Abram has strong _____
- AAnalytic skills
- Boperational skills
- Ctechnical skills
- Dconceptual skills
51EatOut is a food joint that serves pizza while GLowBelle is a luxury beauty salon that sells cosmetics, what do they have in common
- AThey provide pure services
- Bthey have unsought products
- Cthey offer pure goods
- Dtheir products are services and goods
52Bancroft & Morrison Inc as an organization believes that it should always be prepared for the future. Thus while planning the budget each year the senior management of the company leaves aside a portion of the companys earnings to be used in case the company deviates from its core plans or any unexpected events occur. In this scenario the senior management of Bancroft & Morrison is engaged in
- Acontingency planning
- Boperational planning
- Cstrategic planning
- Dtactical planning
53____ is a technology that stores info on a microchip and transmits it to a reader when it is within range
- Athe global positioning system
- Bcomputer-aided design software
- Cgraphical user intrerface
- Dradio frequency identification
54in the context of the characteristics of good information when information is accurate it means that it is
- Aavailable in time to make a difference
- Bable to help users grasp its meaning
- Cfree of error and biases
- Dsecure from hackers
55In the context of management, which of the following statements is true of controlling?
- AIt refers to monitoring performance and making adjustments as needed
- BIt refers to determining a structure for both individual jobs and the overall organization
- CIt refers to determining organisational goals and action plans for how to achieve these goals
- DIt refers to directing and motivating people to achieve organizational goals
56Which of the following statements is true of a supermarket
- AIt offers a small range of everyday and impulse products at easy-to-access locations
- BIt offers a wide range of food products, plus limited nonfood items.
- CIt sells a wide selection of merchandise within a narrow category
- DIt sells discounted food an general merchandise to club members in a large warehouse format
57Which of the following is a traditional promotional tool?
- AProduct placement
- BPublic relations
- CSponsorship
- DNative advertising
58Which of the following statements is true of independent wholesalers?
- AMerchant wholesalers comprise about 80 percent of all wholesalers
- BMerchant wholesalers do not take legal ownership of the goods they distribute
- CAgents take legal possession, or title, of the goods they distribute
- DBrokers do not handle real estate and seasonal products
59Daquip is a baseball kit manufacturer. It sells its products to final consumers through its own stores at a huge discount. From the given scenario, it can be concluded that Daquip is a(n) ____.
- AOutlet store
- BDiscount store
- CConvenience store
- DIndependent wholesaler
60Which of the following statements is true of job enrichment?
- AIt is the creation of jobs with more meaningful content, under the assumption that creative work will motivate employees
- BIt refers to bringing one's personal knowledge and dexterity to perform a particular job task
- CIt is the level of financial stability that individuals gain from a job.
- DIt refers to increasing the value of a particular job role by increasing the responsibilities associated with it.
61In the context of management planning, ____ refers to high-level, long-term planning that establishes a vision for the company, defines long-term objectives and priorities, determines broad action steps, and allocates resources.
- Aoperational planning
- Bstrategic planning
- Ccontingency planning
- Dtactical planning
62A health-drink company faces a lot of flak for misquoting the nutritional facts on its product packages. Once it clears the charges, the company hires a firm that helps it in reviving a positive image in the media as well as the broader community. The firm's primary task is to constantly communicate with the media personnel and make sure that the media runs unpaid stores that create a favorable impression about the company. This scenario exemplifies the use of:
- Alobbying
- Bpublic relations
- Csocial marketing
- Dgreenwashing strategies
63Which of the following utilities satisfies wants by providing goods and services at a convenient period for customers?
- Aownership utility
- Btime utility
- Cform utility
- Dplace utility
64The fixed costs of Allied Breads, a bread baking company, is $200,000 per year. The cost of equipment and labor to make one packet of bread is $3. If the breakeven point of the company is 100,000 packets of bread, Widget Corp. needs to sell its bread packets at a price of ____ per packet to make profits.
- Aat least $7
- Bat least $6
- Cless than $4
- Dmore than $5
65Saffexo is a low-cost toiletries producer in the town of Lucitona. It sells its products through almost all the retail stores in the town of Lucitona. In the context of distribution strategies, Saffexo has adopted the strategy of ____.
- AIntensive distribution
- BSelective distribution
- CExclusive distribution
- DRandom distribution
66Which of the following statements is true of strategic planning?
- AIt is typically done by first-line managers
- BImplementation of strategies should happen largely through operational planning.
- CEvaluation of the results of an organization's strategies should be a continual process.
- DIt is typically done for a fifteen year time frame.
67Which of the following is the key downside of survey research?
- AIt does not provide info about what people are feeling.
- BMany people are not honest or accurate about their experiences and opinions
- CIt does not yield any info on consumer decisions
- DMany surveyors are not able to directly interact with their research subjects
68Rancone Technologies, a laptop manufacturer, released a new laptop model priced at $800 to attract customers who could afford to pay the high price. After a few months, it introduced low-priced versions of the same laptop to attract new buyers. By doing so, it maximized profitability by targeting different segments of the market. In this scenario, Rancone Technologies has used the _____ strategy.
- Apenetration pricing
- Beveryday-high pricing
- Closs-leader pricing
- Dskimming pricing
69Lawrence recently bought a new luxury car, and he is not complentely satisfied with it. He wishes he bought something that made a better impression on his colleagues. Lawrence's friend Howard, on the other hand, bought a secondhand sedan and is extremely happy with it. Howard becomes even more proud of his purchase when his friends compliment his car. From the marking point of view, which of the following concepts has contributed to Howard feeling satisfied with his car?
- AResidual value of the car
- BActual value of the car
- CPerceived value of the car
- DSalvage value of the car
70Longevo, a watch manufacturing company, offers watches in a wide range of designs to suit all age groups. To adequately cover its wide and diversified consumer base, the company makes use of all the traditional and new age media platforms for its promotions. The promotional strategy used by Longevo is ____.
- Aviral marketing
- Bproduct placement
- Cintegrated marketing communication
- Dinbound marketing automation
71____ includes all organizations, processes, and activities involved in the flow of goods from the raw materials to the final consumer.
- Aviral marketing
- Bproduct placement
- Cintegrated marketing communication
- Dinbound marketing automation
72Which of the following statements is true of a supercenter?
- AIt offers a small range of everyday and impulse products at easy to access locations with long hours and quick checkout
- BIt is a producer owned store that sells directly to the public at a huge discount
- CIt sells a wide selection of merchandise within a narrow category
- DIt sells a complete selection of food and general merchandise at a steep discount in a single enormous location
73Spedex, an on-rent cab provider company, launches a new feature on its website that can help its customers track their cabs online. The feature requires a sign-in-process. Since the feature is new, many customers face problems in figuring out a way to access this feature. To solve this problem, Spedex creates a customer support page on its website that will resolve the issues of its customers. In this scenario, the customer support page on Spedex's website is an example of a(n) ____.
- Abusiness intelligence system
- Bexpert system
- Ccybermediary
- Ddata warehouse
74____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.
- Acustomer relationship management
- Bcognitive dissonance
- Ccustomer based segmentation
- Dcustomer centricity
75Mopsun, a garment store, sells customized hoodies at $7 per unit. The total fixed costs add up to $8,000 per year, and the variable costs add up to $3 per unit. How many hoodies should Mopsun sell every year in order to cover all costs?
- A1,000
- B2,000
- C1,500
- D2,500
76The top-level managers of a soft drink bottling company initiate the strategic planning process. They complete their first task of the process, which is to define the mission of the organization. In the context of the strategic planning process, their next task would be to
- Aarticulate the essential reason for the organization's existence
- Bcreate a pro forma report to set the goals for the organization
- Ccreate strategies for competitive differentiation
- Devaluate the organization's competitive position.
77____ is an Internet marketing strategy that tries to involve customers and others not employed by the seller in activities that help promote the product.
- AViral marketing
- Bcall-to-action marketing
- Cclose action marketing
- Doutbound marketing
78A product has three product layers. They are:
- AImplied benefit, explicit benefit, and combined benefit.
- Bphysical form, intangible form, and perceived form
- Ccore benefit, actual product, augmented product
- Dtransient layer, overt benefit, virtual product
79Devon Construction Inc. is currently working on a residential construction project. Matt, the company's operations manager, is using an operations management tool that helps him see the relationships among all the activities required to complete the project. When an equipment breaks down, he realizes that certain tasks are crucial for the overall completion of the project will not be completed on schedule. Using the operations management tool, he is able to estimate the additional time needed for the completion of the project. In the context of the given scenario, Matt is most likely using _____.
- Acause and effect diagram
- Bcritical path method
- Cline balancing
- Dmarginal analysis
80The line approach to organizational structure is not appropriate for medium-sized and large organizations because:
- Atoo much flexibility can hamper the strict work ethics required in a large organization
- Bthere is a lack of specialists to provide inputs on key decisions
- Cit involves red tape that results in a delay in decision making
- Dthere is a lack of clear management hierarchy
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- BUS101 Exam #3 Practice Test
- Author
- Sam K
- Language
- English
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