What is one of the purposes of having business policies?

To make sure the business's actions are consistent

Applying customer-orientation element of the marketing concept enables businesses to do?

Offer products that consumers want to buy

What might a company implement to reinforce its image as an efficient business?

Require employees to respond to customer inquiries

What is an example of employee reinforcing a firm's image through job performance?

Asking customer if they would like a beverage while waiting

What should business people adapt their communication styles to appeal to other cultures?

Being patient, flexible, and empathetic

Why is the quality level of a product important service management decision?

Reflects the image of the business

How does the use of grades and standards affect the buying and selling process?

Enables customers to buy without having to inspect products

Why do profits decline when product's are introduced in first stages of product's life cycle?

Competitors have entered the market

What is a purpose of warranties and guarantees?

protect the producer and the seller

Why is it often important to take notes during meetings or presentation?

Information will be needed later

What is one way that many businesses use the marketing info contained in sales reports?

To improve the effectiveness of salesperson

Joe tries to satisfy customers. Carol closes a sale at all costs. Who is more successful?

Joe, because he will get more repeat business

Which of the following is an unethical situation in product/service management?

Company embellishes information that placed on their labels

Are noncomplainers a more difficult problem for businesses than complainers?

Yes, the salesperson doesn't have time to handle complaints.

What does a salesperson need to do to be successful in selling?

learn the features unique to the brands s/he sells

According to the marketing concept, which option shows company commitment?

Setting aside funds to research what customers want

Why does a company need to know what stage of the product life cycle its product are in?

Adapt it's marketing strategies

What is an example of an ethical issue that a product/service manager might face?

use of environmentally friendly packaging

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Business and Marketing Essentials Course

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Advance Marketing Semester One Final Exam A.K.S. Industry Test

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Questions 80

Answers

1
What is one of the purposes of having business policies?
To ensure that the business makes a profit
To make sure the business's actions are consistent
To encourage customers to make frequent exchanges
To allow employees to make decisions regarding customers
2
Customer buys CD & receives warranty stating actions if CD doesn't work. This is a __warranty
implied
express
full
limited
3
Which of the following is not a tool that people use when participating in discussions
Building on someone's else's comments
Helping the group summarize what been said
Sharing personal experiences
Pointing out missing information
4
What does selling function involve that makes it so important?
Containing customers
Displaying products
Obtaining feedback from vendors
Setting high prices
5
If products are labeled incorrectly, how do you correct this problem? What action is the best?
warranty
product liability
product recall
guarantee
6
Applying customer-orientation element of the marketing concept enables businesses to do?
Coordinate its marketing activities
Persuade customers to buy its products
Offer products that consumers want to buy
Provide more products than consumers need
7
XZY sell soups & promotes by saying, "Great taste!" XYZ positioning products to what strategy?
relationship to other products
features and benefits
unique characteristics
price and quality
8
What allows businesses to produce products that are specialized for a very few customers
Computerized robotics
Automatic production
Mass customization
Intermittent conversion
9
What can salespeople do to maintain good relationships with existing customers?
live up to their promises
ask for new referrals
use customers in advertisements
send customers expensive gifts
10
What might a company implement to reinforce its image as an efficient business?
Allowing employees to establish their own service standards
Require employees to respond to customer inquiries
Requesting that employees sign their time cards end of shift
Ensuring that employees wear clean uniforms during shifts
11
John job duties include planning, organizing and directing and solving problems is job is?
cashier
broker
bookkeeper
manager
12
What is an example of employee reinforcing a firm's image through job performance?
HR manager prepares the firm's employee newsletter
Customer waiting on telephone for shipping confirmation
Asking customer if they would like a beverage while waiting
advising the customer the sofa is available by special order
13
What should you do to eliminate misunderstanding the customer might have concerning complaints?
Restate the complaint
Explain company policy
Thank the customer
Take immediate action
14
PEN makes pens like no other ink in the industry. What positioning strategy is the product
relation to other products in a line
price and quality
unique characteristics
features and benefits
15
Promoting goods to increase sales, how is this business segmenting the market?
By behavior
By demographics
By psychographics
By geographers
16
What is a cost associated with customer complaints?
Markups on inventory
Loss of sales
Higher commissions
Additional advertising
17
What should salespeople do when they must cope with customers who are disagreeable?
Listen patiently and stay calm
Use product knowledge to prove they're wrong
Speed up the sale
Ask them to come back when they are ready
18
Which of the following would be the most likely cause of customer complaints
Price reducations
Product Quality
Extended hours
Institutional ads
19
What marketing professional would be responsible for creating new packaging?
Advertising
Channel management
Market research
Product management
20
By monitoring its sales and customers' buying habits, what are businesses able to identify?
Economic resources
Research methods
Popular products
Competitors' activities
21
Which marketing function helps businesspeople forecast how much will be sold in a given period?
Promotion
Risk management
Selling
Market planning
22
What is at the center of all marketing activities?
Communication
Technological Know-how
Purchasing
Math
23
What legal actions does a business take if reports of injuries are reported?
consumer product safety act
consumer protection
production liability
product deletion
24
To be able to explain ideas objectively to others, individuals usually need to have effective
technical
computerT
reading
verbal
25
What factor affects a business's selection of policies to guide its operations?
Personal preferences of management
Nature of the business
Communication skills of employees
Space available to display policies
26
What marketing career involves determining why customers do what they do?
Marketing research
Advertising
Sales
Distribution/Warehousing
27
When you ask questions in an open-minded way, you avoid
stating your own opinion
suggesting a better way to do somthing
mentioning the truth
attacking someone else's idea
28
Which market segment do customers in cold climates who need snow shovels and blowers represent?
Occupational
Geographic
Behavioral
Psychographic
29
What internal report indicates a business' sales for a product have dropped over past 3 months?
Annual income statement
Market demographics analysis
Quarterly inventory status
Accounts- payable summary
30
What should business people adapt their communication styles to appeal to other cultures?
Being sensitive, transparent, and demanding
Being patient, flexible, and empathetic
Being confident, biased, and manipulative
Being respectful, indifferent, and honest
31
Why is the quality level of a product important service management decision?
Reflects the image of the business
Refers to the way the product works
Protects consumers
Identifies a product's brand
32
How does the use of grades and standards affect the buying and selling process?
Enables businesses to set high prices
Enables salesperson to determine customer needs
Provides product information on unsafe products
Enables customers to buy without having to inspect products
33
Why do profits decline when product's are introduced in first stages of product's life cycle?
Competitors have entered the market
Production is more efficient
Sales decline in the growth stage
Marketing strategies are adjusted
34
What is a purpose of warranties and guarantees?
protect the producer and the seller
increase customer anxiety about purchases
avoid a customer-oriented focus for the business
decrease feedback from customers
35
When organizing information to present in a business report, it is effective to
determine the purpose
develop an outline
remain objective
interpret the data
36
What four P's should investors consider first?
Place
Product
Promotion
Price
37
Why is it often important to take notes during meetings or presentation?
Audience needs something to do
Writing keeps the mind focused
Information will be needed later
Speaker is difficult to understand
38
What type of communication style is appropriate for evaluation interviews with employees?
Technical
Formal
Routine
Casual
39
What is one way that many businesses use the marketing info contained in sales reports?
To monitor expense accounts
To improve the effectiveness of salesperson
To develop negotiating techniques
To qualify potential new customers
40
What kind of customer(s) make the following statement, "I had better come back."
Dishonest
Disagreeable
Slow/Methodical
Suspicious
41
Joe tries to satisfy customers. Carol closes a sale at all costs. Who is more successful?
Joe, because he is a nice person
Carol. because Joe is too timid to close a sale
Carol, because she will make more sales
Joe, because he will get more repeat business
42
Which of the following is an unethical situation in product/service management?
Boutique obtains deep discounts from new designer
Manufacturing uses recycled materials for product packaging
Company embellishes information that placed on their labels
Vincent Electronics discontinues an ineffective product
43
Which marketing function would come up with new product?
Channel management
Promotion
Seling
Product/service management
44
Are noncomplainers a more difficult problem for businesses than complainers?
No, salesperson can satisfy the noncomplainer
No, noncomplainers do not express ill feelings
Yes, the salesperson doesn't have time to handle complaints.
Yes, records of complaints can not be maintained
45
In what stage of brand loyalty do people become aware of the brand?
insistence
preference
satisfaction
recognition
46
What does a salesperson need to do to be successful in selling?
learn the features unique to the brands s/he sells
ask management to limit the number of brands
always attempt to sell related merchandise
describe the disadvantage of competing brands
47
According to the marketing concept, which option shows company commitment?
Teaching marketing to college marketing students
Pricing a product to maximize profitability per item
Leaving marketing to the marketing department
Setting aside funds to research what customers want
48
Why does a company need to know what stage of the product life cycle its product are in?
Predict the length of the life cycle
To find new uses for the product
Prevent imitators from entering the market
Adapt it's marketing strategies
49
What is an example of an ethical issue that a product/service manager might face?
use of nutrition information on a food label
use of environmentally friendly packaging
use of color on the label
use of packaging as a means of promotion
50
What is an internal factor that affects the selling policies of a business?
government legislation
customer requests
actions of competitors
financial resources
51
By increasing awareness of the need for environment controls, what has marketing done?
Improved the quality of life
Regulated the standard of living
Made buying more convenient
Added usefulness to products
52
Which of following is a way that a business can extend the life cycle of an established product
Finding new uses for the product
Promoting the product to current users
Attracting consumers who are innovators
Restricting distribution
53
In order to be understood on the telephone, a business employees should always
speak rapidly
enunciate clearly
speak from notes
use technical terminology
54
What strategy are companies using to position products by stating, "Lightweight and durable!"
price and quality
unique characteristics
features and benefits
Relationship to other products
55
Why would a business use a broad product mix?
relate the products to the target market
decrease legal liabilities
To promote one-stop shopping
To assure that the product lines are related
56
What does continuously monitoring internal marketing enable business's to do?
Analyze economic changes
Investigate competitors
Identify problems
Evaluate market shares
57
Effective follow-up activities that can provide services & develop relationships w/customer?
sending articles about local competitors
calling to make sure the products are satisfactory
explaining the company's business plan
asking for referrals
58
When a business publicly pledges quick and courteous service, what is it doing?
Developing a campaign platform
Establishing product position
Stating industry policies
Making a brand promise
59
What marketing career involves catching customers' attention?
Public relations
Product management
Advertising
Marketing research
60
You want a $300,000 car. You have $150.00 in savings. Are you in the market for a Ferrari?
Yes, you have an unfilled desire for the Ferrari
No, not financially able to purchase
Yes, you have an unfilled desire and are financially able
No, not financially willing to purchase the Ferrari
61
What type of product information might you obtain from a manufacturer's representative?
How the product became popular
How the product is made
What credit terms are available
What inventory method to use
62
A customer asks a product question that a salesperson cannot answer. What should they do?
try to serve the customer as best s/he can
tell the customer to contact the manufacturer
explain the s/he is new and doesn't know
ask an available, experienced employee
63
Which is an example of an implied warranty?
salesperson tells customer, "This is the best you can buy."
television's label promises a full refund if ineffective.
customer buys a toaster and assumes it will toast bread
jacket's hang tag states that the fabric is pure wool
64
Why do companies use brands for their products?
encourage materialism
charge higher prices
demonstrate creativity
differentiate their products
65
What should a salesperson do with a customer who wants to return an unsatisfactory item?
exchange the item
refer the customer to the manufacturer
follow the business's selling policies
consult the buyer
66
What is one way that businesses use marketing information?
To determine credit scores
To prepare sales invoices
To change economic trends
To develop new products
67
Individuals who are able to defend ideas objectively are able to provide other with
emotional information
personal opinions
unrelated statistics
logical evidence
68
Why would a business make changes to its products?
predict the success of the changed product
make room for other products
spread risk over a wider area
keep up with changing consumer preferences
69
What does use of coupon(s) represent?
Goal
Trends
Tactic
Strategy
70
All calls coming into a office should end as pleasantly as possible in order to
make the best use of time
help to get a good review
leave good lasting impression
provide callers with accurate information
71
Sales begin to decrease when customers purchase other brands. Which strategy is appropriate?
Do nothing; fluctuations in sales are common
Triple the advertising budget for the product
Modify the product to renew customer interest
Take product off the market
72
What marketing data can business obtain by reviewing inventory reports and customers' invoices
Product quality
Customers' product preferences
Actual market share
Customers' credit limits
73
Why do many professional organizations develop standards for their members to follow
Establish control
Create influence
Promote group activities
Promote product safety
74
What are one-way businesses use computer technology to obtain information to improve products?
Compiling detailed databases
Tracking visitors to their web sites
Preparing interactive software programs
Miling questionnaires to customers
75
Which is a pre-sale opportunity for salespersons to provide customer service?
technical assistance and support
shipping and delivery
maintenance and repair
providing ample product information
76
What will probably happen to a business id continuously fails to deliver on its brand promise?
Improve sales volume
Decrease Liability
Increase market shares
Lose credibility
77
What is the overall reason that marketing strategies are designed and implemented?
Achieving planned goals
Increasing business profits immediately
Improving management techniques
Changing image of the business
78
Tool that helps employees access the information about the business's products?
Memory card
Generator
Micro-portal
Intranet
79
Which activity is addressed in the product/service management function?
Determining where products will be offered for sale
Setting discounts to clear products from inventory
Eliminating products that are slow sellers
Focusing promotional activities on a new-product release
80
People who fail to adapt communication to appeal to their international clients likely to?
Impress the clients
Persuade the clients to buy
Offend the clients
Earn the clients' trust

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