Archives: Quiz

The SCAMPER tool is based on the work of Alex Osborne. In entrepreneurship, every good idea is a viable business opportunity. Answer: FALSE Every good idea is not a viable business opportunity. Research suggests that the first good idea entrepreneurs […]

Customers generally view a new company negatively if it imitates established companies and practices in the industry. The SCAMPER tool is based on the work of Alex Osborne. Answer: TRUE The SCAMPER tool is based on the work of Alex […]

Research suggests that the first good idea entrepreneurs come up with is always the best. The following sentence has two independent clauses. The author is best known for her novels, she is known for her poems too. Answer: TRUE This […]

According to the Panel Study of Entrepreneurial Dynamics, the business idea and the decision to start a business were simultaneous for a majority of entrepreneurs. Productivity is more difficult to improve in the service sector. Answer: TRUE At times of […]

One of the pitfalls small business owners fall into is to fail to build a company culture that encourages new ideas and embraces change. One of the pitfalls small business owners fall into is to fail to build a company […]

“S” in the creativity tool SCAMPER stands for summarize. Correlation is one of the four stages in the creative process. Answer: FALSE The four stages of the creative process are preparation, incubation, illumination, and verification. To write economically, you should […]

At times of great change, people become more willing to try extreme new ideas. Manufacturing now constitutes the largest economic sector in postindustrial societies. Answer: FALSE Operations management is the set of activities that creates value in the form of […]

Freud’s theory was the first to stress the influence of __________ on development. A)observational learning B)rewards and punishment C)cultural norms D)the early parent-child relationship In middle childhood, children’s anxieties are directed toward new concerns, such as a fear of A)the […]

Which of the following statements accurately reflects the change in self-description that typically occurs between ages 8 and 11? A)Children tend to describe themselves by focusing on specific behaviors. B)Children will describe positive, but not negative, personality traits. C)Children organize […]

Adolescents who immigrate with their family to the United States from cultures that value interdependent qualities demonstrate __________ the longer their family has been in the United States. A)increased discrimination toward other ethnic minorities B)increased commitment to fulfilling family obligations […]

During Zola’s third month of pregnancy, she should A)be able to feel the baby move. B)avoid regular exercise. C)be able to hear the baby’s heartbeat through a stethoscope. D)be able to tell when the baby is alert. On Halloween, four […]

These four teachers claim to be practicing principles from social cognitive theory. Based on the following information, which one is not? a.Mr. Anderson makes sure students are paying attention when he demonstrates how to do long division problems. b.Ms. Benson […]

Cleary, Wasser, and Nolan formed a partnership on January 1, 2012, with investments of $100,000, $150,000, and $200,000, respectively. For division of income, they agreed to (1) interest of 10% of the beginning capital balance each year, (2) annual compensation […]

Select the incorrect statement regarding the analysis of absolute amounts of various accounts reported on the financial statements. A.Financial statement users with expertise in particular industries can look at absolute amounts and assess a company’s performance in a certain area. […]

Long-term creditors are usually most interested in evaluating: A.Liquidity. B.Managerial effectiveness. C.Solvency. D.Profitability. In countries of Latin America: A.accounting practice is designed to provide adequate information to investors and creditors. B.accounting standards emphasize accounting for high inflation situations. C.banks are […]

From the list of accounts below, determine whether the account would be a nominal account or a real account. a.nominal account b.real account Cash Assume the current ratio is 3 to 1. Estimating the warranties expense on the period’s sales […]

When the ________ is put to work in a market place, it is known as product positioning. A) value proposition B) brand equity C) marketing strategy D) perceived difference In the case of services, ________ focuses squarely on the quality […]

Identify the situation in which a channel will want deals for forward buying. A) high promotional elasticity and high holding cost B) high promotional elasticity and low holding cost C) low promotional elasticity and high holding cost D) low promotional […]

Which of the following is an example of an internal source of information? A) advertisements B) past experiences with products C) recommendations of an opinion leader D) advice from an expert ________ is the ability of the service provider to […]

Which of the following states that the people who did not respond to a study may feel differently about the issue being surveyed than those who did? A) interviewer bias B) nonresponse bias C) central tendency error D) tolerance bias […]

Which of the following refers to the homework part of the new product development process? A) implementing a good project prioritization process B) keeping a strong market orientation throughout the new product development process C) spending time on up-front activities […]

Which of the following leads to intrinsic motivation? A) different aspects of the job B) promotion C) salary increase D) sales contests Which of the following best describes a trend in business to purchase a service from an outside vendor […]

A person watching a television commercial at home is distracted by a crying baby. In the communication process, the crying baby can be cited as an example of: A) a noise. B) a response. C) decoding. D) a feedback. Which […]

For a consumer product sold door-to-door through a multilevel selling company like Mary Kay, ________ would be an appropriate control unit. A) countries B) states C) counties D) blocks Identify the objective of trade promotions. A) get channels to carry […]

Which of the following methods of sales forecasting uses the averages of historical sales figures to make a forecast? A) econometric models B) leading average C) linear extrapolation D) moving average Which of the following statements is true regarding repeat […]

A merchant establishment operated by a concern that is engaged primarily in buying, taking title to, usually storing and physically handling goods in large quantities, and reselling the goods (usually in smaller quantities) to retail or to industrial or business […]

A ________ approach classifies competitors based on objective attributes of the firms. A) customer-based B) supply-based C) market-based D) demand-based Development costs are best described as: A) costs that are associated with individual products that do not vary with sales […]

Which of the following stages of the family life cycle best describes older married couples with dependent children? A) Full nest II B) Empty nest I C) Empty nest II D) Full nest III ________ are also called new-to-the-world products […]

Which of the following best describes the entire population of the target group? A) sample B) universe C) market D) cohort Which of the following types of sales quotas is most commonly used by sales organizations? A) sales volume based […]

As customer knowledge about a product increases: A) the number of intermediaries in the distribution channels also increases. B) the information needs of the customers increase because of their curiosity to learn more. C) the need for personalized services increase […]

For a frequently-purchased product, ________ are the keys to success. A) trial rates B) repeat rates C) brand awareness D) brand recall Which of the following approaches to measuring brand equity are measures of how the brand is represented psychologically […]

________ involves creating a flowchart that describes the flow of activity from the time the customer first contacts the service provider to the time the customer receives the service. A) Conjoint analysis B) Market analysis C) Service blueprinting D) Multi-dimensional […]

During a buying process, the normal procedure once a list of qualified suppliers is formed is to send out a ________ to potential suppliers. A) request for product review B) request for proposals C) request for quotation D) request for […]

Data mining refers to: A) designing customer information file structure. B) collecting customer data required to fill the customer information file. C) entering the customer data in the customer information file. D) analyzing a customer information file. According to the […]

Modern managers have to focus on: A) relationships with the customer. B) transactions that are beneficial. C) increased and instantaneous profit. D) increased market share. Which of the following is considered to be a traditional marketing metric? A) acquisition rate […]

Which of the following is an example of a geographic variable? A) lifestyle B) race C) religion D) climate Which of the following pricing objectives is useful only when the product has a monopoly or near monopoly position so that […]

________ present a standard product differently to each customer. A) Collaborative customizers B) Adaptive customizers C) Cosmetic customizers D) Transparent customizers In this stage of the product life cycle, product development should focus on product enhancements and line extensions that […]

The overall purpose of the marketing plan is to: A) enable managers to stay in touch with key aspects of business environment. B) act as a guideline when performing the final audit. C) serve as the mandatory document to be […]

________ is the person who actually authorizes payment for the product. A) The influencer B) The initiator C) The purchaser D) The decider The salesperson’s ________ is a basic force behind how much effort he or she devotes to the […]

In the classic linear approach, once the company has determined which markets it wants to enter, the immediately next step of a new product development process is: A) initial design and concept screening. B) business analysis. C) testing and concept […]

Different entities involved in the buying process (like initiator, influencer etc.), have: A) the same needs and seek the same benefits. B) different needs but seek the same benefits. C) the same needs but seek different benefits. D) different needs […]

When a retailer or distributor stocks up on a product at a discount while promotion is running and then sells the inventory at regular price, the process is called: A) reverse buying. B) forward buying. C) seasonal buying. D) promotional […]

The most common misuse of focus groups is attempting to use them to: A) generate research hypothesis for further study. B) brainstorm for new product ideas. C) draw general conclusions. D) carry out concept testing. A(n) ________ is the basic […]

Communication activities that provide extra incentives to customers or the sales force to achieve a short-term objective are called: A) sales promotion. B) advertising. C) integrated marketing communication. D) public relations. The senior citizen discounts given at movie theaters and […]

An understanding of the cost structure of the market provides marketing managers with: A) an idea of how low some competitors can price. B) the demographics of target markets. C) the behavioral segmentation of target markets. D) an accurate idea […]

Treating each customer seperately and giving the perception that he or she is being treated as a unique segment by delivering personalized products and services is known as: A) selective marketing. B) mass marketing. C) sales orientation. D) mass customization. […]

The industries in which one company has historically chosen to be the first in changing price or making some other marketing-mix or strategic decision, ________ concept of game theory is used. A) prisoner’s dilemma B) Nash equilibrium C) best strategy […]

Products falling under one category of the BCG matrix are most likely to be eliminated. Identify this category. A) cash cows B) dogs C) stars D) problem children According to the Brand Asset Valuator (BAV) model, which of the following […]

Marketing plans contain guidelines for a product’s marketing programs. Classically innovative products are commonly called new-to-the-company products. Answer: FALSE A competitive advantage should be difficult to imitate. Answer: TRUE An insufficient number of territories means salespeople spend too much time […]

The decider is a person in the organization who influences the decision about which supplier is chosen. In the classic linear approach to new product development, the first step of the new product development process is idea generation. Answer: FALSE […]