Mr.wood's Business Test

50 Questions  I  By MSalmons
This is a multible choice test on business.

  
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Question Excerpt

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1.  Philippe owns a store that sells lampshades. The process of receiving money in return for lamp shades is ______.
A.
B.
C.
D.
2.  The location of a coffee shop franchise in a mall creates _____ utility.
A.
B.
C.
D.
3.  As the result of a hurricane heading toward the coastal area of North Carolina, residents rushed to purchase plywood to cover their windows. Retailers who carried plywood were operating in a ______ .
A.
B.
C.
D.
4.  Maria is campaigning for city council and talks with prospective voters in her ward about their concerns. Maria is engaged in ________ marketing.
A.
B.
C.
D.
5.  The Tour of Hope is a cross-country bike tour designed to raise awareness about cancer clinical trials. Dansani bottled water is one of the sponsors, which enables the company to utilize ______ marketing.
A.
B.
C.
D.
6.  Which of the following is the first step in developing a marketing strategy?
A.
B.
C.
D.
7.  Which of the following is both a consumer product and a business product?
8.  An organization’s ___________ is the group of potential customers toward whom is directs its marketing efforts.
A.
B.
C.
D.
9.  Companies use ________to focus on a specific consumer market by combining product, distribution, promotion, and pricing strategies.
10.  Data collected for the first time through observation or surveys is ________.
A.
B.
C.
D.
11.  Census data are _____ and _______ data for marketing researchers.
12.  A company’s financial records are a source of _______and _______ data for marketing researchers.
A.
B.
C.
D.
13.  All of the following are internal sources of data EXCEPT ___________.
A.
B.
C.
D.
14.  Which of the following is a drawback to using Census and other government data sources?
A.
B.
C.
D.
15.  Luke works as a marketing researcher and goes online to obtain information from government publications for census data and demographics. What type of data is Luke researching?
A.
B.
C.
D.
16.  Allen and Erica assembled a group of 12 people and had the group evaluate several promotional campaigns. Allan and Erica collected data from a(n) _________.
A.
B.
C.
D.
17.  The oldest form of segmenting consumer markets is based on _________.
18.  The common basics for segmenting consumer markets include all the following EXCEPT ________ factors.
A.
B.
C.
D.
19.  The most common form of consumer market segmentation is based on __________.
A.
B.
C.
D.
20.  Which of the following is an interpersonal determinant of consumer behavior?
A.
B.
C.
D.
21.  Charlotte wants to purchase a new printer for her computer. She decides to stick with the brand she knows because of her experience with its efficiency and reliability. This is an example of a(n) ____________.
A.
B.
C.
D.
22.  Approximately how much more does it cost to attract one new customer than to keep an existing one?
A.
B.
C.
D.
23.  A university offers alumni a special Visa card with the university’s logo printed on the front. Each time the cardholder uses the card, the university receives a small percentage of the amount charged. This is an example of _________.
A.
B.
C.
D.
24.  A bundle of physical, service, and symbolic attributes designed to satisfy customer wants is called ________.
A.
B.
C.
D.
25.  A marketer focuses on a product’s ________.
A.
B.
C.
D.
26.  All of the following statements are correct EXCEPT _______.
A.
B.
C.
D.
27.  Consumer products are usually classified as ________.
A.
B.
C.
D.
28.  Products that consumers purchase frequently, immediately, and with little effort are ______.
A.
B.
C.
D.
29.  A complete new carpet program for a home falls into which of the following classifications of goods?
A.
B.
C.
D.
30.  A warranty on a consumer product is important because of __________.
A.
B.
C.
D.
31.  Erika, purchasing agent for a small factory, has received a purchase requisition for 3 cases of light bulbs and 10 cases of copy paper. These items would be classified as ________.
32.  A combination of product lines represents a company’s _________.
A.
B.
C.
D.
33.  Ford owns several brands including Ford, Mercury, Volvo, Aston Martin, Jaguar, Land Rover, and Mazda. This constitutes Ford’s _________.
A.
B.
C.
D.
34.  Widgets were introduced a few years ago. The number of companies making widgets has increased recently, drawn by high profits. At the same time, differentiated products for different market segments have begun to emerge. Widgets appear to be in the ________stage of the product life cycle.
35.  Greta has been analyzing the competitive standings of one of her products. Since Greta began her operation, 20 similar products have appeared, forcing her to change distribution strategies. Greta has also needed to change pricing strategies in order to remain competitive. Sales volume has diped, and she suspects sales of her product have reached a saturation level. At what stage of the product life cycle is this item?
A.
B.
C.
D.
36.  Wal-Mart expanding internationally is an example of a _________.
A.
B.
C.
D.
37.  Which of the following strategies concentrates on finding new markets for a firm’s existing products?
A.
B.
C.
38.  A brand that has been given legal protection is known as a _________.
A.
B.
C.
D.
39.  Procter & Gamble markets laundry soap with the brand names of Tide, Cheer, and Dash. Each brand targets a specific market segment. Proctor & Gamble is utilizing __________.
A.
B.
C.
D.
40.  The IBM logo is good because it ________.
A.
B.
C.
D.
41.  The words aspirin and nylon could not become part of a new brand name because the brand name ________.
A.
B.
C.
D.
42.  Luis wants a particular brand of golf ball. His local pro shop is out. Instead of buying a substitute, Luis goes home and orders his preferred brand online. Luis is at which stage of brand loyalty?
A.
B.
C.
D.
43.  Volume objectives in pricing include ________.
A.
B.
C.
D.
44.  Which of the following statements about prices is true?
A.
B.
C.
D.
45.  The method of determining the minimum sales volume needed at a certain price level to cover all costs is _______.
46.  In breakeven analysis, total cost is composed of ________.
A.
B.
C.
D.
47.  In breakeven analysis, the costs that change with the level of production are considered ______.
A.
B.
C.
D.
48.  Breakeven analysis _________.
49.  Assume widgets cost $5.00 each. The variable cost per unit is currently $4.00 and fixed costs are $25,000. If the company can alter its production method such that variable costs fall to $3.50 and fixed costs rise to $30.000, what will happen to the breakeven point?
A.
B.
C.
D.
50.  Compact disc players, introduced in the early 1980s, were frequently over $2,000. Today disc players can be purchased for less than $200. The early compact disk marketers were using which of the following pricing strategies?
A.
B.
C.
D.
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