FINAL EXAM - JRS (60Q)

Question 1

Strategic planning is a systematic way of planning in the organization through initial assessment, analysis & evaluation

Accepted Answer

True

Question 2

_________ uses sites like Facebook and Twitter to connect with customers.

Accepted Answer

Social Media Marketing

Question 3

A web page will have NO impact on traditional marketing techniques.

Accepted Answer

False

Question 4

The acronym HR stands for _______.

Accepted Answer

Human resources

Question 5

In addition to being specific, measurable, attainable, and realistic, a marketing plan goals should be ___________.

Accepted Answer

Time based

Question 6

The purpose of marketing is to ________.

Accepted Answer

Generate customer transactions

Question 7

An individual who is responsible for carrying out the goals of the business is a(n) ______.

Accepted Answer

Manager

Question 8

A Strategic Management tool that can be utilized is a SWOT analysis.

Accepted Answer

True

Question 9

Small businesses are not expected to provide their employees with opportunities to grow ______.

Accepted Answer

False

Question 10

An effective management technique would be_________.

Accepted Answer

All of these

Question 11

A barcode that allows consumers to go directly to a company's website is a(n) _____________.

Accepted Answer

QR code

Question 12

Excessive inventory ties up your money so that you cannot use it elsewhere in your business _____.

Accepted Answer

True

Question 13

The goods and services a company has on hand for resale to customers are its ______.

Accepted Answer

Inventory

Question 14

Pop-up ads are most prevalent in traditional advertising media, such as newspapers ________.

Accepted Answer

False

Question 15

Promoting a new product online is a way in which a company can utilize its website _______.

Accepted Answer

True

Question 16

Which of the following is a disadvantage of the wiki as a marketing tool?

Accepted Answer

It often leads to negative publicity

Question 17

The goods and services a company has on hand for resale to customers are its _______.

Accepted Answer

Inventory

Question 18

Cash invested in the business for the purpose of making a profit is called_________________

Accepted Answer

Equity capital

Question 19

Which of the following is NOT a task associated with inventory management _____.

Accepted Answer

Understanding what customers want

Question 20

The percentage of the total sales of a specific product that one company conducts in the company’s ______________

Accepted Answer

Market share

Question 21

____component of the marketing mix concerned with making products available at right time, right place & right quantity.

Accepted Answer

Distribution

Question 22

Activities that promote goodwill between a business and the public are called _______.

Accepted Answer

Public relation

Question 23

Which of the following are not examples of variable expenses?

Accepted Answer

Salaries

Question 24

Accurate pricing of products and services is crucial to a business's success.

Accepted Answer

True

Question 25

A Strategic Management plan can be utilized by an organization to encourage growth and development.

Accepted Answer

False

Question 26

Placing ads on websites whose typical viewers are the target market for a company's products is known as _________.

Accepted Answer

Web advertising

Question 27

The process of buying merchandise for resale is called _________.

Accepted Answer

Purchasing

Question 28

Use ____________ to determine where to spend your advertising dollars on television, radio, and print advertisements.

Accepted Answer

Market Research

Question 29

The use of banner ads and other graphical advertisements to market products online is called ________.

Accepted Answer

Display Advertising

Question 30

Which of the following is NOT one of the 4 common phases of strategic management.

Accepted Answer

Generalizing

Question 31

The amount of ownership a person has in a business is called _______________

Accepted Answer

Equity

Question 32

Chain of viral activity on Internet can lead>lasting impact on product/company. This impact can be positive or negative.

Accepted Answer

True

Question 33

Managing is the process of ________.

Accepted Answer

Controlling and making decisions about a business

Question 34

The models vary between companies depending upon ______.

Accepted Answer

All of these

Question 35

Which of the following is not a good source for marketing plan templates _________.

Accepted Answer

Competitors

Question 36

What is the opening working fund for the cash register

Accepted Answer

$100

Question 37

Operation planning determines the day-to-day goals for the company _____.

Accepted Answer

True

Question 38

To hire employees that best meet a company’s needs, the company performs a _______.

Accepted Answer

Job analysis

Question 39

Strategic management>method where managers conceive/implement strategy that can lead >sustainable competitive advantage

Accepted Answer

True

Question 40

The type of communication used to motivate people to buy a product or service is known as ____________

Accepted Answer

Promotion

Question 41

Each of the following steps will help you manage inventory to meet customers’ needs, except _______.

Accepted Answer

Selling obsolete inventory

Question 42

Web-based marketing does not present exciting new opportunities for companies to profile their customers.

Accepted Answer

False

Question 43

Which of the following is NOT a form of electronic media that can be used for promotional marketing _______.

Accepted Answer

Newspaper article

Question 44

The pricing method that focuses on what customers are willing to pay is called________

Accepted Answer

Demand-based pricing

Question 45

Expenses that do not change and are not affected by the number of products produced or sold are _______________

Accepted Answer

Fixed

Question 46

Company uploads message on the Internet about its latest product and forwards to hundreds & thousands of people is____

Accepted Answer

Viral Marketing

Question 47

Each of the following steps will help you manage inventory to meet customers’ needs, except _____.

Accepted Answer

Selling obsolete inventory

Question 48

Someone who guides and directs a person to learn what is needed for a situation is a(n). ______.

Accepted Answer

Mentor

Question 49

It is not important to know your target market when developing effective communication using social media.

Accepted Answer

False

Question 50

Excessive inventory ties up your money so that you cannot use it elsewhere in your business ____.

Accepted Answer

True

Question 51

Electronic media should NOT be used as a tool for developing brand recognition and product positioning.

Accepted Answer

False

Question 52

Which of the following are actions not characteristic of an effective manager? ______.

Accepted Answer

Micromanaging employees

Question 53

Which of the following is not a typical task of human resource employees __________.

Accepted Answer

Accounting and auditing

Question 54

Exchanging products or service for other products or services, with no money exchanged, is called ____________________

Accepted Answer

Barter

Question 55

____________ analysis is used to see if an investment is worth pursuing.

Accepted Answer

Cost-Benefit

Question 56

Process of strategic management lists steps managers should take to create a complete strategy and how to implement it

Accepted Answer

True

Question 57

A name, term, or design can set a product or business apart from its competitors.

Accepted Answer

True

Question 58

Decisions about a marketing plan mix include decisions about product, price of the product, promotions, and ______

Accepted Answer

How and where to sell the product

Question 59

Which of the following is NOT a factor to be considered when an entrepreneur decides whether to hire employees ____.

Accepted Answer

Your high school friend is broke and needs a job

Question 60

In the marketing mix, the product’s life cycle will affect and influence _____

Accepted Answer

Price

FINAL EXAM - JRS (60Q)

Questions 60

FINAL EXAM - JRS (60Q)

Questions 60