Marketing Core Competition Practice Exam! Quiz
Questions and Answers
- 1.
Merchandising is classified as
- A.
Production
- B.
Operations
- C.
Accounting and finance
- D.
Management and distribution
Correct Answer
A. ProductionExplanation
Merchandising involves the process of buying and selling goods, which is closely related to production. This is because merchandising involves selecting and purchasing products from manufacturers or suppliers to be sold to customers. It also involves managing inventory, ensuring timely delivery, and maintaining product quality. Therefore, it can be classified as a part of the production process.Rate this question:
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- 2.
The accounting and finance function includes
- A.
Transporting products
- B.
Answering customer products
- C.
Implementing business plans
- D.
Developing budgets
Correct Answer
D. Developing budgetsExplanation
The accounting and finance function includes developing budgets because budgeting is an essential aspect of financial management. It involves creating a plan for allocating resources and estimating future income and expenses. Developing budgets helps organizations set financial goals, monitor their financial performance, and make informed decisions about resource allocation. It allows businesses to control costs, plan for investments, and ensure that they have sufficient funds to meet their obligations and achieve their objectives.Rate this question:
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- 3.
Businesses began to compete with each other to get customers to but their products because
- A.
Consumer had more choices
- B.
Prices were higher
- C.
Advertising became more common
- D.
Businesses could afford to compete
Correct Answer
A. Consumer had more choicesExplanation
The correct answer is that the consumer had more choices. This means that businesses started competing with each other because consumers had a wider range of options to choose from. With more choices available, businesses needed to distinguish themselves and attract customers by offering better products, services, or prices. This competition was driven by the increased variety of products and services available to consumers in the market.Rate this question:
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- 4.
Marketing helps countries use their natural resources better by
- A.
Preventing the waste of materials used to make products consumers won't buy
- B.
Monitoring the use of the resources
- C.
Informing citizens of available resources
- D.
Advertising new products
Correct Answer
A. Preventing the waste of materials used to make products consumers won't buyExplanation
Marketing helps countries use their natural resources better by preventing the waste of materials used to make products consumers won't buy. By conducting market research and analyzing consumer preferences, marketing helps identify the demand for certain products. This information allows countries to allocate their resources efficiently and avoid producing goods that will not be purchased, thereby reducing waste.Rate this question:
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- 5.
Marketing assists in international trade by
- A.
Lowering the cost of trade
- B.
Increasing the price of the products
- C.
Determining where products can be sold
- D.
All of the above
Correct Answer
C. Determining where products can be soldExplanation
Marketing assists in international trade by determining where products can be sold. This is because marketing involves conducting market research to identify target markets and consumer preferences in different countries. By understanding the demand and consumer behavior in various markets, companies can strategically plan their international trade activities and allocate resources effectively. This helps them identify the most profitable markets and tailor their marketing strategies accordingly, ultimately leading to successful international trade ventures.Rate this question:
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- 6.
Business people must take criticiusms of marketing seriously because
- A.
It affects the product's functionality
- B.
It identifies the consumers buying the product
- C.
Many consumers have the same attitude
- D.
Businesses need the demographic data
Correct Answer
C. Many consumers have the same attitudeExplanation
Business people must take criticisms of marketing seriously because many consumers have the same attitude. This means that if multiple consumers are expressing the same criticism or concern about a product or marketing strategy, it is likely that there is a widespread issue that needs to be addressed. Ignoring these criticisms could lead to a decline in sales and damage to the brand's reputation. Therefore, it is important for business people to listen to and address the concerns of their consumers in order to maintain customer satisfaction and loyalty.Rate this question:
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- 7.
Adveritising is used extensively to encourage people to consider
- A.
A general type of product
- B.
Specific brands of product
- C.
Lower prices
- D.
Shopping
Correct Answer
B. Specific brands of productExplanation
Advertising is used extensively to encourage people to consider specific brands of products. Advertisements are designed to create brand awareness and promote the unique features and benefits of a particular brand. By highlighting the qualities and advantages of specific brands, advertising aims to influence consumer behavior and persuade them to choose those brands over others in the market. Through advertising, companies can differentiate their products from competitors and build brand loyalty among consumers.Rate this question:
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- 8.
The decision to use resources in a way that results in the greatest satisfaction of wants and needs is
- A.
Private enterprise
- B.
Competition
- C.
The profit motive
- D.
Value
Correct Answer
D. ValueExplanation
Value refers to the worth or importance that individuals or society place on goods, services, or resources. When making decisions about resource allocation, individuals and businesses consider the value of different options and choose the one that maximizes satisfaction of wants and needs. This involves weighing the benefits and costs of different choices and selecting the option that provides the most value. Therefore, the decision to use resources in a way that results in the greatest satisfaction of wants and needs is based on value.Rate this question:
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- 9.
The demand curve for a business in a monopoly.
- A.
Curves down
- B.
Appears straight
- C.
Curves up
- D.
Varies with the supply available
Correct Answer
B. Appears straightExplanation
In a monopoly, the demand curve appears straight because the monopolist has complete control over the market and can set the price at any level they desire. Unlike in a competitive market where the demand curve slopes downwards, indicating that higher prices lead to lower demand, a monopolist can charge a higher price and still maintain a certain level of demand. This is because there are no close substitutes available for consumers to choose from, giving the monopolist more pricing power. Therefore, the demand curve for a business in a monopoly appears straight.Rate this question:
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- 10.
The earlist use of marketing was
- A.
To move products from the producer to the consumer
- B.
To sell more products
- C.
To manufacture more products
- D.
To interest consumers in purchasing products
Correct Answer
A. To move products from the producer to the consumerExplanation
The earliest use of marketing was to move products from the producer to the consumer. This suggests that the primary purpose of marketing was to facilitate the distribution of products, ensuring that they reached the intended consumers. The other options, such as selling more products, manufacturing more products, or interesting consumers in purchasing products, may be secondary objectives of marketing but do not capture the core essence of its earliest use.Rate this question:
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- 11.
When an unauthorized business imports products into a country and creates a parallel distribution channel that competes with authorized channel, this is known as
- A.
Unauthorized channeling
- B.
Parallel channels
- C.
Gray marketing
- D.
Distribution competition
Correct Answer
C. Gray marketingExplanation
Gray marketing refers to the practice of unauthorized businesses importing products into a country and creating a parallel distribution channel that competes with the authorized channel. This can lead to confusion in the market and can harm the business of authorized distributors. Gray marketing often involves the sale of genuine products that have been obtained through unauthorized means, such as purchasing them in one country and selling them in another without the permission of the manufacturer or authorized distributor.Rate this question:
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- 12.
The most difficult type of competition businesses face is a market in which they compete with other businesses offering
- A.
Similar products
- B.
Different products
- C.
Lower quality products
- D.
More expensive products
Correct Answer
A. Similar productsExplanation
In a market where businesses compete with other businesses offering similar products, it becomes challenging for a company to differentiate itself and stand out from the competition. This type of competition often leads to price wars and intense marketing strategies to attract customers. Businesses need to constantly innovate and find unique selling propositions to gain a competitive edge in such a market.Rate this question:
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- 13.
For most businesses, competition is
- A.
Becoming more intense
- B.
Becoming less intense
- C.
Remaining unchanged
- D.
Non-existent
Correct Answer
A. Becoming more intenseExplanation
The answer "becoming more intense" is supported by the statement that competition is increasing. This suggests that businesses are facing more challenges and rivals in the market, indicating a higher level of intensity. This could be due to factors such as new entrants, globalization, technological advancements, or changing consumer demands. As competition becomes more intense, businesses need to adapt and innovate to stay competitive and maintain their market share.Rate this question:
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- 14.
To make informed decision about the marketing mix, marketers need information about
- A.
Tax policies
- B.
Product price
- C.
Economic conditions
- D.
International markets
Correct Answer
B. Product priceExplanation
To make informed decisions about the marketing mix, marketers need information about product price. This is because pricing plays a crucial role in determining the success of a product or service in the market. By understanding the price of their product, marketers can assess its competitiveness, profitability, and positioning within the market. They can also analyze consumer behavior and demand patterns to determine the optimal pricing strategy that will maximize sales and revenue. Additionally, knowledge of product price allows marketers to evaluate the impact of pricing on the overall marketing strategy and make necessary adjustments to achieve their goals.Rate this question:
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- 15.
Church groups, fraternities, work groups, families, and peer groups are representatives of
- A.
Reference group
- B.
Consumer behavior
- C.
Culture
- D.
Consumers
Correct Answer
A. Reference groupExplanation
Reference groups are groups of people that individuals compare themselves to and use as a basis for their own attitudes, behaviors, and beliefs. Church groups, fraternities, work groups, families, and peer groups are all examples of reference groups because individuals often look to these groups for guidance, validation, and social norms. These groups influence consumer behavior by shaping individuals' preferences, opinions, and purchasing decisions. Therefore, the correct answer is reference group.Rate this question:
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- 16.
A business might use routine decision-making when
- A.
Hiring a new employee
- B.
Redecorating the office
- C.
Constructing a new building
- D.
Purchasing operating supplies
Correct Answer
D. Purchasing operating suppliesExplanation
A business might use routine decision-making when purchasing operating supplies because this is a regular and recurring task that requires minimal analysis or evaluation. The business likely has established procedures and criteria for selecting suppliers and products, and the decision-making process does not involve significant risks or long-term consequences. Additionally, purchasing operating supplies is typically a straightforward task that does not require extensive research or consideration of multiple alternatives. Therefore, routine decision-making is appropriate in this context.Rate this question:
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- 17.
Salesperson can discover information about the competition by
- A.
Making additional sales
- B.
Talking to each other
- C.
Examining the customer records
- D.
Talking to customers
Correct Answer
D. Talking to customersExplanation
Salespeople can discover information about the competition by talking to customers. Customers often have insights and experiences with competitors that salespeople can learn from. By engaging in conversations with customers, salespeople can gather valuable information about the strengths and weaknesses of the competition, which can help them better understand the market and make more informed sales decisions. Additionally, customers may provide feedback on why they chose a competitor over the salesperson's product or service, allowing the salesperson to identify areas for improvement and potentially win back customers in the future.Rate this question:
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- 18.
The total revenue that can be obtained from a market segment is known as the
- A.
Market potential
- B.
Potential earnings
- C.
Market share
- D.
Market opportunity
Correct Answer
A. Market potentialExplanation
Market potential refers to the total revenue that can be obtained from a specific market segment. It represents the maximum amount of sales that can be generated by a product or service within a particular market. Market potential takes into account factors such as the size of the target market, the purchasing power of consumers, and the level of competition. By understanding the market potential, businesses can assess the attractiveness of a market and make informed decisions regarding their marketing and sales strategies.Rate this question:
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- 19.
Consumer advocates often object when companies reduce the size of a package and keep the same price because
- A.
Package sizes should not be reduced
- B.
Prices should not be increased
- C.
The price increase is not obvious
- D.
Package sizes should be increased
Correct Answer
C. The price increase is not obviousExplanation
Consumer advocates often object when companies reduce the size of a package and keep the same price because the price increase is not obvious. This means that consumers may not realize that they are paying the same amount for less product, which can be seen as deceptive or unfair. By keeping the price the same while reducing the package size, companies may be able to maintain their profit margins without consumers noticing the change. This lack of transparency can undermine trust and lead to dissatisfaction among consumers.Rate this question:
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- 20.
The correct sequence of stages that businesses follow as they develop their e-commerce presence on the internet is
- A.
Information, integration, interaction
- B.
Information, interaction, integration
- C.
Interaction, information, integration
- D.
Integration, interaction, information
Correct Answer
B. Information, interaction, integrationExplanation
The correct sequence of stages that businesses follow as they develop their e-commerce presence on the internet is information, interaction, integration. This sequence implies that businesses first need to gather and provide relevant information about their products or services to potential customers. Then, they can focus on engaging with customers through various interactive platforms such as social media or live chat. Finally, businesses can integrate their e-commerce presence with other systems and processes to streamline operations and enhance customer experience.Rate this question:
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- 21.
Some advertising costs are hidden because
- A.
Companies use credit to pay for advertising
- B.
Companies barter their advertising space
- C.
Individuals pay for advertising
- D.
All of the above
Correct Answer
B. Companies barter their advertising spaceExplanation
Some advertising costs are hidden because companies barter their advertising space. Bartering refers to the exchange of goods or services without the use of money. In the context of advertising, companies may trade their products or services in exchange for advertising space, thereby reducing their direct monetary costs. This practice allows companies to hide the true cost of their advertising, as it is not reflected in their financial statements.Rate this question:
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- 22.
The marketing plan is based on
- A.
The marketing strategy
- B.
The current environment
- C.
The behavior of competitors
- D.
Available funds
Correct Answer
A. The marketing strategyExplanation
The marketing plan is based on the marketing strategy because the strategy outlines the overall approach and goals for reaching the target market. It provides a framework for making decisions about product positioning, pricing, promotion, and distribution. The marketing strategy helps to identify the target audience, understand their needs and preferences, and develop a plan to effectively communicate and engage with them. The marketing plan then outlines the specific tactics and actions to be taken to execute the strategy and achieve the desired marketing objectives.Rate this question:
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- 23.
The complete set of all products a business offers to its market is its
- A.
Product assortment
- B.
Product line
- C.
Brand
- D.
Variety
Correct Answer
A. Product assortmentExplanation
A business's product assortment refers to the complete set of products that it offers to its market. This includes all the different variations, options, and choices available to customers. It encompasses the entire range of products that the business has available, allowing customers to choose from a variety of options. Product line refers to a group of related products offered by a business, while brand refers to the unique identity and image associated with a product or company. Variety refers to the range of different types or options within a product category.Rate this question:
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- 24.
The amount of human effort required to deliver a service is
- A.
Labor in-tenseness
- B.
Physical assistance
- C.
Standard
- D.
Measured
Correct Answer
A. Labor in-tensenessExplanation
The term "labor in-tenseness" refers to the amount of human effort or labor required to deliver a service. It implies that the service requires a high level of physical exertion or intensity from the service provider. This term is used to describe the intensity of the labor involved in delivering the service, indicating that it requires significant physical effort.Rate this question:
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- 25.
Information spread by friends about a service is
- A.
Personal selling
- B.
Advertising
- C.
Customer contact
- D.
Word-of-mouth promotion
Correct Answer
D. Word-of-mouth promotionExplanation
Word-of-mouth promotion refers to the act of individuals spreading information or recommendations about a product or service to their friends, family, or acquaintances. This form of promotion relies on personal connections and trust, as people are more likely to trust recommendations from someone they know. Therefore, the correct answer is word-of-mouth promotion, as it accurately describes the act of friends spreading information about a service.Rate this question:
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- 26.
The most difficult purchasing situation occurs when
- A.
A repeat purchase is made
- B.
Changes or improvements are needed to products purchased in the past
- C.
The business could make the product
- D.
A new product or services is purchased
Correct Answer
D. A new product or services is purchasedExplanation
The most difficult purchasing situation occurs when a new product or service is purchased. This is because there is no prior experience or knowledge about the product or service, making it challenging to evaluate its quality, reliability, and suitability for the business's needs. Additionally, there may be a lack of information or reviews available, making the decision-making process more difficult. The business may also face uncertainties regarding the product's performance, potential risks, and compatibility with existing systems or processes. Overall, purchasing a new product or service requires thorough research, analysis, and careful consideration to minimize risks and ensure a successful purchase.Rate this question:
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- 27.
When a business purchase is techinical or very expensive,
- A.
A lawyer will be involved in the transaction
- B.
An engineer may test the product
- C.
Upper management will participate in the purchasing process
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
When a business purchase is technical or very expensive, it is common for all of the above options to be involved. A lawyer will be involved in the transaction to ensure legal compliance and protect the interests of the business. An engineer may test the product to ensure its quality and suitability for the business's needs. Upper management will participate in the purchasing process to make informed decisions and ensure that the purchase aligns with the company's goals and strategies. Therefore, all of the above options are likely to be involved in such a purchase.Rate this question:
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- 28.
The traditional indirect channel of distribution involves a
- A.
Wholesaler, a retailer, and the final consumers
- B.
Producer, a wholesaler, and the final consumers
- C.
Producer, a wholesaler, and a retailer
- D.
Producer, a retailer, and the final consumers
Correct Answer
D. Producer, a retailer, and the final consumersExplanation
The traditional indirect channel of distribution involves a producer, a retailer, and the final consumers. In this distribution model, the producer sells the products to a retailer, who then sells them to the final consumers. This allows the producer to focus on manufacturing the products while the retailer takes care of marketing, selling, and delivering them to the end customers. This distribution model is commonly used in industries such as consumer goods, where there is a need for a middleman to bridge the gap between the producer and the consumers.Rate this question:
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- 29.
Companies using a sales-based objective will sell their products
- A.
To small target markets
- B.
To markets with a large number of available customers
- C.
To customers who value the image of a product
- D.
For the highest possible price
Correct Answer
B. To markets with a large number of available customersExplanation
A sales-based objective focuses on selling products to markets with a large number of available customers. This approach aims to maximize sales volume by targeting a wide customer base. By selling to markets with a large number of potential customers, companies can increase their chances of making more sales and generating higher revenue. This strategy is especially effective when the product has a broad appeal and can be easily marketed to a large audience.Rate this question:
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- 30.
Creidt offered by one buisness to another buisness is
- A.
Trade credit
- B.
Retail credit
- C.
An allowance
- D.
Incentive credit
Correct Answer
A. Trade creditExplanation
Trade credit refers to the credit extended by one business to another business. It allows the purchasing business to buy goods or services on credit and pay for them at a later date, typically within a specified period of time. This arrangement helps in maintaining a smooth cash flow for the buyer and provides flexibility in managing their finances. It is a common practice in business-to-business transactions and is often used to establish and maintain relationships between suppliers and buyers.Rate this question:
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- 31.
Consumer reactions to advertising and other mass communication techniques can be tracked throguh
- A.
Direct communication
- B.
The number of magazine or newspaper subscriptions
- C.
Marketing research
- D.
All of the above
Correct Answer
C. Marketing researchExplanation
Marketing research is the correct answer because it involves the systematic gathering and analysis of information about consumers' reactions to advertising and other mass communication techniques. This can be done through various methods such as surveys, focus groups, and data analysis. By conducting marketing research, companies can track and understand consumer reactions, preferences, and behaviors, which helps them make informed decisions about their advertising and communication strategies.Rate this question:
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- 32.
Today, personal selling is commonly used in
- A.
Industry sales
- B.
Wholesale
- C.
Door to door selling
- D.
Advertising
Correct Answer
A. Industry salesExplanation
Personal selling is commonly used in industry sales because it allows for direct interaction between the salesperson and the potential customer. In industry sales, the products or services being sold are usually complex or require a high level of expertise. Personal selling allows the salesperson to understand the specific needs and preferences of the customer and tailor their approach accordingly. This direct interaction also allows for building relationships and trust, which is important in the business-to-business environment of industry sales.Rate this question:
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- 33.
A carefully arranged sequence of promotions designed around a common theme responsive to specific objectives is a
- A.
Promotional mix
- B.
Marketing plan
- C.
Promotional plan
- D.
Business plan
Correct Answer
C. Promotional planExplanation
A promotional plan is a carefully arranged sequence of promotions designed around a common theme and responsive to specific objectives. It is a strategic approach to marketing that focuses on promoting products or services to target customers. Unlike a marketing plan, which encompasses all aspects of marketing, a promotional plan specifically focuses on the promotional activities and tactics that will be used to achieve marketing goals. A promotional plan is an essential tool for businesses to effectively communicate their offerings to their target audience and drive sales.Rate this question:
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- 34.
Determining customer needs is often done through
- A.
Marketing research
- B.
Planning
- C.
Brainstorming
- D.
Product development
Correct Answer
A. Marketing researchExplanation
Marketing research is the process of gathering and analyzing data about customers, competitors, and market trends in order to understand customer needs and preferences. It involves various techniques such as surveys, interviews, and data analysis to gather insights that can inform decision-making and product development. This helps businesses identify and prioritize customer needs, develop effective marketing strategies, and create products or services that meet those needs. Therefore, marketing research is the most appropriate method for determining customer needs among the given options.Rate this question:
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- 35.
If the customer is dissatisfied with any part of the marketing mix or if competing products appear to meet customer needs better, the salesperson can
- A.
Modify the product or service
- B.
Persuade the customer to buy the product anyway
- C.
Inform the company
- D.
All of the above
Correct Answer
C. Inform the companyExplanation
If the customer is dissatisfied with any part of the marketing mix or if competing products appear to meet customer needs better, it is important for the salesperson to inform the company. By doing so, the company can gather feedback and make necessary modifications to the product or service to better meet customer needs and preferences. This will help improve customer satisfaction and increase the chances of retaining the customer. Persuading the customer to buy the product anyway may not address the underlying issues and could lead to further dissatisfaction.Rate this question:
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- 36.
For selling to be effective, salespeople must receive support from
- A.
Other marketing personnel
- B.
Production
- C.
Customer service
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
To be effective, selling requires support from other marketing personnel, as they can help in creating effective promotional strategies and campaigns. Production support is also necessary to ensure that the products are available and delivered on time. Customer service support is crucial as it helps in addressing customer queries and concerns, building trust and loyalty. Therefore, all three - marketing personnel, production, and customer service - are essential in providing the necessary support for effective selling.Rate this question:
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- 37.
Most countries with a postundustrial economy are
- A.
Producing raw equipment and material for the development of marketing systems
- B.
Developing distribution systems
- C.
Developing laws and procedures to encourage trade with other countries
- D.
Selling raw materials
Correct Answer
C. Developing laws and procedures to encourage trade with other countriesExplanation
Countries with a postindustrial economy are focused on developing laws and procedures to encourage trade with other countries. This is because in a postindustrial economy, the emphasis is on services, technology, and innovation rather than manufacturing. Therefore, these countries prioritize creating favorable trade policies, regulations, and procedures to attract foreign investment, promote exports, and facilitate international trade. This helps them to expand their markets, increase economic growth, and strengthen their position in the global economy.Rate this question:
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- 38.
Money provided to a buisness to assist in the development and sale of its product is
- A.
A tariff
- B.
A subsidy
- C.
A quota
- D.
The Gross Domestic Product
Correct Answer
B. A subsidyExplanation
A subsidy is a form of financial assistance provided to a business to support its development and sales of products. It is typically given by the government or a public institution to encourage the growth of certain industries or to promote specific economic activities. Unlike tariffs or quotas, which are trade restrictions, subsidies aim to stimulate business activities by reducing costs or providing incentives. The money provided helps the business to invest in research, production, marketing, or other areas necessary for product development and sales. Therefore, the correct answer is a subsidy.Rate this question:
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- 39.
Some activities in the action plan will include
- A.
Responsibilities for marketing activities
- B.
Responsibilities for risk reduction
- C.
Responsibilities for the marketing strategy
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The correct answer is "all of the above" because the question asks for activities that will be included in the action plan. The options provided include responsibilities for marketing activities, responsibilities for risk reduction, and responsibilities for the marketing strategy. Since all of these responsibilities are mentioned, the correct answer is "all of the above".Rate this question:
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- 40.
Retrned and replacement products
- A.
Increase sales levels
- B.
Add to the sellers cost
- C.
Generate revenue
- D.
All of the above
Correct Answer
B. Add to the sellers costExplanation
The correct answer is "add to the sellers cost". When products are returned or replaced, it adds to the cost for the seller as they have to bear the expenses of processing the return or replacement, handling the logistics, and restocking the product. This additional cost cuts into the seller's profit margin and reduces their overall revenue. Therefore, returned and replacement products do not increase sales levels or generate revenue, but rather add to the seller's cost.Rate this question:
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- 41.
What term identifies a person who is responsible for a buisness created and owned by others?
- A.
Manager
- B.
Entrepreneur
- C.
Owner
- D.
Investor
Correct Answer
A. ManagerExplanation
The term "manager" is the correct answer because a manager is someone who is responsible for running and overseeing the day-to-day operations of a business that is created and owned by others. They are in charge of making decisions, coordinating activities, and ensuring that the business operates efficiently and effectively. While an entrepreneur may also be responsible for starting a business, an owner refers to someone who owns the business, and an investor refers to someone who provides financial support to the business.Rate this question:
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- 42.
What is true about the role of small businesses in the United States
- A.
They make up over 90% of all buisnesses
- B.
They employ nearly 40% of workers in high tech occupations
- C.
They provide about 75% of the all new jobs
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
Small businesses play a significant role in the United States economy. They make up over 90% of all businesses, indicating their large presence in the market. Additionally, they employ nearly 40% of workers in high tech occupations, highlighting their contribution to the technological sector. Furthermore, small businesses provide about 75% of all new jobs, demonstrating their importance in job creation and economic growth. Therefore, the correct answer is "all of the above" as all the given statements accurately describe the role of small businesses in the United States.Rate this question:
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- 43.
Advertisng agencies and public relations firms are often involved in whivh of the seven marketing functions?
- A.
Promotion
- B.
Selling
- C.
Distribution
- D.
Product/service managment
Correct Answer
A. PromotionExplanation
Advertising agencies and public relations firms are often involved in the promotion function of marketing. This involves activities such as creating and managing advertising campaigns, developing public relations strategies, and implementing promotional tactics to increase awareness and generate interest in a product or service. These agencies and firms play a crucial role in crafting and delivering persuasive messages to target audiences, building brand image, and ultimately driving sales and customer engagement.Rate this question:
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- 44.
Short term planning is also known as which of the following.?
- A.
Strategic plan
- B.
Seat of the pants planning
- C.
Tactical planning
- D.
Operational planning
Correct Answer
D. Operational planningExplanation
Short term planning refers to the process of setting specific goals and objectives for a short period of time, typically within a year or less. It involves determining specific actions and allocating resources to achieve these goals. Operational planning, on the other hand, focuses on the day-to-day activities and tasks necessary to implement the short term plan. It involves determining the specific tasks, assigning responsibilities, and establishing timelines for the execution of the plan. Therefore, operational planning is the most appropriate term for short term planning.Rate this question:
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- 45.
How do managers asses organizational satisfaction?
- A.
Ask the board of directors
- B.
Poll senior management
- C.
Evaluate how well goals are being met
- D.
Survey customers and consumers
Correct Answer
C. Evaluate how well goals are being metExplanation
Managers assess organizational satisfaction by evaluating how well goals are being met. This involves analyzing the performance and progress of the organization in achieving its objectives. By assessing whether the goals are being met or not, managers can gauge the level of satisfaction within the organization. This evaluation helps identify areas of improvement and make necessary adjustments to enhance overall satisfaction. Asking the board of directors, polling senior management, and surveying customers and consumers may provide additional insights, but the primary method for assessing organizational satisfaction is through evaluating goal achievement.Rate this question:
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- 46.
Which part of a marketing plan includes analyzing econiomic conditions
- A.
Marketing strategy
- B.
External environment analysis
- C.
Internal analysis
- D.
Activity schedule
Correct Answer
B. External environment analysisExplanation
The correct answer is external environment analysis. This part of a marketing plan involves analyzing economic conditions, along with other external factors such as political, social, and technological factors. By conducting an external environment analysis, marketers can gain insights into the current economic climate and understand how it may impact their marketing strategy. This analysis allows them to identify opportunities and threats in the market and make informed decisions about their marketing activities.Rate this question:
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- 47.
What is the second lowest of the five levels of marketing employment
- A.
Entry level
- B.
Specialist level
- C.
Career level
- D.
Executive/entrepreneur level
Correct Answer
C. Career levelExplanation
The second lowest level of marketing employment is the career level. This level typically refers to positions that require some experience and expertise in the field of marketing, but are not yet at a managerial or executive level. At this level, individuals may have progressed beyond entry-level positions and may have developed specialized skills or knowledge in specific areas of marketing. While they may still have room for growth and advancement within their careers, they have achieved a certain level of competence and are considered to be in the middle range of marketing employment.Rate this question:
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- 48.
The last thing you should do to complete a successful job interview is
- A.
Tell the interviewer the minimum level of compensation you need
- B.
Ask the interviewer for a written job description
- C.
Send a personal note of thanks to the interviewer
- D.
None of the above
Correct Answer
C. Send a personal note of thanks to the interviewerExplanation
Sending a personal note of thanks to the interviewer is the last thing you should do to complete a successful job interview. This shows gratitude and professionalism, leaving a positive impression on the interviewer. It also allows you to reiterate your interest in the position and highlight any key points that were discussed during the interview. Taking the time to send a thank-you note demonstrates your attention to detail and follow-up skills, setting you apart from other candidates.Rate this question:
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- 49.
Which of the following is generally not recognized as a type of marketing career path?
- A.
Management
- B.
Industry
- C.
Marketing function
- D.
Geographic
Correct Answer
D. GeographicExplanation
Geographic is generally not recognized as a type of marketing career path because it refers to a specific location or region rather than a specific job or role within the marketing field. Marketing career paths typically include management, industry, and marketing function, which are all broad categories that encompass various roles and responsibilities within the marketing industry. However, geographic is not a category that defines a specific marketing career path, but rather a factor that may influence marketing strategies or target audience based on location.Rate this question:
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- 50.
What is one of the functions of certain types of public-relations activities?
- A.
Market segmentation
- B.
Product research
- C.
Damage control
- D.
Sales management
Correct Answer
C. Damage controlExplanation
Certain types of public-relations activities involve damage control. This function focuses on managing and minimizing the negative impact of a crisis or unfavorable situation on a company's reputation. It involves implementing strategies to address and rectify any negative publicity, managing media relations, and restoring public trust. Damage control helps organizations protect their image and maintain a positive public perception in the face of potential harm or criticism.Rate this question:
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Current Version
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Mar 21, 2023Quiz Edited by
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Nov 14, 2011Quiz Created by
Shannon Lazek
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