Archives: Quiz

Given the following information, calculate the depreciation allowance for year 1. Depreciable Basis: $200,000, Declining Balance Depreciation: 175%, Cost Recovery Period: 27 years. A. $3,704 B. $6,481 C. $7,407 D. $12,963 Suppose you plan to put a 20% down payment […]

When employing the sales comparison approach, appraisers must consider numerous adjustments to convert each comparable sale transaction into an approximation of the subject property. Adjustments are divided into two groups: transactional adjustments and property adjustments. All of the following are […]

In order for a deed to be a valid conveyance of property, there must be an observable, verifiable transfer of the deed to the grantee. Typically this is accomplished when the grantor hands the deed to the grantee at closing. […]

The use of the color ________ dates back millennia as seen by artisans in ancient Egypt, China, and Mayan civilizations and is now associated with royalty and divinity. A) red B) green C) blue D) orange E) brown Which of […]

The concentration of wealth in a handful of industrialized countries has significant implications for global marketers. After segmenting in terms of a single demographic variable”income” a company can reach the most affluent markets which does not include: A) half of […]

In 2013, the 10 most populous countries in the world accounted for just over ________ percent of the world income. A) 20 B) 30 C) 40 D) 50 E) 60 The sales of the Apple watch increased when customers were […]

The terminology used to describe the new forms of cooperation strategies varies widely and the phrases used include all of the following except: A) collaborative agreements. B) strategic alliances. C) global strategic partnerships. D) strategic international alliances. E) Greenfield operations. […]

Cultural influences are also quite apparent in food preparation and consumption patterns and habits. Domino’s Pizza, the world’s largest pizza-delivery company, pulled out of Italy because: A) its tomato sauce was too bold and competed with Italian products. B) people […]

The DMBB (D’arcy Massius Benton & Bowles) agency created a psychographic profile of the Russian market. The categories include all of the following except: A) Kuptsy. B) Cossacks. C) Elites. D) Students. E) Business Executives. When a survey questionnaire in […]

Which of the following correctly characterizes the retailing strategy of Benetton, IKEA, and Gap? A) few product categories, own-label focus B) few product categories, manufacturer brand focus C) many product categories, own-label focus D) many product categories, manufacturer brand focus […]

The United States’ growing trade deficit reflects a number of factors which exclude: A) increased imports from China. B) a seemingly insatiable consumer demand for imported goods. C) the enormous cost of military operations in the Middle East. D) the […]

To motivate shopkeepers to stock more of P&G’s products, the company launched a: A) door-to-door program. B) retail store program. C) golden store program. D) hypermarket program. E) sole distributor program. Competitive advertising may impair the effectiveness of the message […]

Which of the following is not characteristic of direct marketing? A) A marketer relinquishes control of product when it is turned over to channel intermediaries. B) Advertising serves to generate an immediate inquiry or purchase. C) Repetition is used in […]

After Fidel Castro took power in Cuba in 1959, his government seized control of American property without paying compensation. Coca-Cola, DuPont, Texaco, and dozens of other American companies have filed claims against Cuba seeking financial settlements. Which of the following […]

Secondary stakeholders include all of the following except: A) media. B) employees. C) local community groups. D) nongovernmental organizations. E) general business community. Chinese direct-response television has learned that there are many obstacles that still need to be overcome, which […]

Michael Porter’s generic strategy framework is derived from the basic types of competitive advantage and the scope of the target market served. If government restrictions prevent 100 percent ownership by foreign companies, the investing company will have to settle for […]

The term “polycentric” describes management’s belief or assumption that each country in which a company does business is the same as the home country business. Being socially responsible is the only the right thing to do; it can distinguish a […]

Former Disney chairman Michael Eisner and other company executives were blinded by ethnocentrism. Avoiding the Self-Reference Criterion (SRC) requires a person to suspend assumptions based on prior experience and success and be prepared to acquire new knowledge about human behavior […]

When British entrepreneur Richard Branson opened the first Virgin Megastore in Japan, he did so by establishing a joint venture with the Marui retailing chain. This represents an inappropriate market-entry approach for a global retailer. GATT (General Agreement on Tariffs […]

Nokia’s reversal of fortune at the hands of Apple and Google underscores the fact that today’s executives must rethink the concept of the corporation if they wish to operationalize the concept of core competencies. Today, market capitalism is widely practiced […]

The Swatch Group is the world’s second largest watchmaker. This shows that in the low-cost segment, brands compete on price and value. An ad valorem duty is expressed as a percentage of the value of goods. Answer: TRUE Dove, a […]

Every commercial transaction is based on a contract of sale, and the trade terms in that contract specify the exact point at which the ownership of merchandise is transferred from the seller to the buyer and which party in the […]

Ethnocentric pricing responds to the competitive and market conditions of national market. “Export price escalation” is the increase in the initial selling price of goods traded across borders. Answer: FALSE Aesthetic elements that are attractive, appealing, and in good taste […]

When Walmart came to Brazil in the mid-1990s, it discovered that local competitors did not have the technological infrastructure that allowed them to match its aggressive pricing policies. Licensing agreements offer limited market control since the licensee typically does not […]

Global market segmentation is based on the premise that companies should attempt to identify consumers in different countries who share similar needs and desires. In developing countries, globalization’s opponents accuse companies of placing intellectual property rights ahead of human rights. […]

Anheuser-Busch, the brewer of Budweiser beer, lost its independence after years of focusing primarily on the U.S. market. Sometimes it is preferable to market to a particular age group rather than a mind-set; in such an instance, psychographic studies can […]

Some company executives become so committed to a current, profitable technology that they fail to provide adequate levels of investment in new, apparently riskier technologies. Yong Nam, CEO of LG, recently stipulated that Chinese would be required throughout the company. […]

Red Bull energy drink manufacturer, Dietrich Mateschitz, hired a market research firm to assess the market potential for the drink. In the tests, consumers reacted negatively to the taste, the logo, and the brand name. The company ignored the research […]

Brazil, China, and India are classified as upper-middle income countries, also known as industrialized or developing countries. An express warrantyis a written guarantee that assures the buyer that he or she is getting what he or she has paid for […]

Apple, Levi Strauss, Nike, Sony, well-known fashion design houses, and other companies with strong brands sometimes establish flagship retail stores as a means of obtaining marketing intelligence. The foreign exchange market consists literally of a buyer’s and a seller’s market […]

According to the forecast regarding online retail sales among select European countries by the year 2018 Germany will be ranked at the top in the region. “Export selling” involves tailoring various elements of the marketing mix to global market requirements. […]

Porsche relies on currency hedging rather than price increases to boost pretax profits on sales of its automobiles. What is the advantage of doing this, and how does hedging work? India has the youngest demographic profile among the world’s large […]

Compared to consumer purchase decisions, organizational purchase decisions: A. are more complex. B. involve fewer people. C. seldom require negotiations. D. require less coordination. E. take a shorter period of time. If an industrial salesperson makes her first call on […]

Performance and conversion goals are the basis for _____ goals. A. activity B. transformation C. consequence D. terminal E. collaborative The _____ Act requires written notification to customers regarding privacy policies. A. Robinson-Patman B. Gramm-Leach-Bliley C. Sarbanes-Oxley D. FOB notification […]

Field selling is typically more demanding than inside selling because field selling: A. involves working at the employer’s location where the salespeople are monitored very closely. B. involves very little interaction with customers, thus making it difficult to establish a […]

Victor is calling on Meridian Cabinet Works. His goal is to close the deal for a customized profile sander valued at about $3,500. He would be willing to accept a purchase of one his firm’s ready-made sanders, which cost about […]

Which of the following products would most likely be the hardest for a new salesperson to sell? A. Laptops for students B. Horse trailers C. Management consulting services D. Office supplies to existing customers E. Restaurant tablecloths Victor is calling […]

Troy is a telemarketer who works directly with Nadine, a sales rep who works on site. Together they develop strategies for handling accounts and address customer concerns. Troy is an example of: A. a missionary salesperson. B. a product specialist. […]

All of the following are reasons why a salesperson may suffer from call reluctance EXCEPT: A. a compulsive need to argue. B. the need to meet a prospecting quota. C. the concern about worst-case scenarios. D. the concern about prospecting […]

A florist agrees to purchase a new $640 refrigeration display cabinet for fresh-flower arrangements. After delivering the cabinet, the salesperson says to the florist, “Did I mention that there is a $100 delivery fee in addition to the price of […]

David has done his job well, presenting the product, showing how it meets the needs of his customer, and handling all questions and objections. David should: A. decrease the price if the buyer seems to be uninterested. B. avoid follow-ups […]

Which of the following is the best example of a benefit opening? A. “Mr. Jackson at FS Tools thought you would appreciate the multitasking flexibility of my company’s machine center.” B. “Good afternoon, Ms. King. My name is Harry Tillot, […]

Which of the following statements about telephoning to make sales appointments is true? A. The telephone is most often used to make an initial appointment. B. Booking an appointment by phone is advantageous because the prospect’s nonverbal reactions to the […]

Salespeople coordinate the activities within their firms to solve customer problems. When a buyer-seller relationship has reached the exploration stage, there is a stated or implied pledge to continue the relationship. Answer: FALSE Net present value analysis allows a buyer […]

Office scanning helps a salesperson assess whether a buyer is listening and understanding what is being said. Life-cycle costing is also known as quality-based costing. Answer: FALSE A salesperson responds to a buyer’s objection by saying, “I understand your concern. […]

A buying center is an informal, cross-department group of people involved in a purchase decision. Negotiations differ from regular sales calls in that they involve lesser intensive planning and a smaller number of people from the selling firm. Answer: FALSE […]

It is up to a single salesperson to change his or her company’s corporate culture to secure a partnership with an important client. Salespeople should not focus on the areas of superior product performance that are not important to the […]

Lead prequalification helps salespeople use their time wisely. If a salesperson is placed in a situation where he or she must act unethically or lose the job, the best way out would be to rationalize an unethical action by placing […]

Assertive salespeople attempt to create new needs in customers through persuasion. Customer satisfaction occurs when a buyer’s expectations are met and needs fulfilled. Answer: TRUE The first step in setting objectives for a sales call is to review what has […]

Generally, negotiators cannot anticipate buyers’ negotiating position. For field sales managers, the easiest method of evaluating performance is to determine the salesperson’s product knowledge. Answer: FALSE It is important to qualify the lead quickly in a cold call. Answer: TRUE […]