Business Law, Channel Management, Financial Analysis, Human Resources Management, Marketing, Market Planning, Pricing, Strategic Management

What type of corporation may be owned by just a few people and does not offer its shares for sale to general public?
Private
Providing marketing information is an important channel activity, businesses rely on marketing information to determine
Their target markets’ needs and wants
What can a business do to determine if there are problems with its customer-service levels in relation to its product-distribution strategies?
Evaluate its channel members’ performance
A farmer with a produce stand in the yard is an example of a ____________ distribution channel
Producer to consumer
An advantage of using satellite tracking technology in distribution is that it enables businesses to
Know where to shipments are at all times
What is another way to describe financial information that is true, complete, and faithfully represented?
Reliable
Which of the following categories of information are found on a balance sheet?
Assets, liabilities, owner’s equity
Using the cash accounting method, determine the amount of sales that a business would record for one day if it makes $2,300 in cash sales, has COD sales of $450, and places a $300 special order
$2,300
The administration of assets refers to decisions about
Investments
Labor-union negotiations are part of which HR management activity?
Employee relations
Which of the following is an example of helpful, printed information that businesses often give new employees during orientation:
Company handbook
How do producers benefit from the exchanges that result from marketing?
By gaining repeat business
The development of goods and services that best satisfy consumer needs and wants is a major goal of
product/service management
A home-improvement company has determined that many of its potential customers will only purchase carpeting from businesses offering a discount. What has the company determined?
Customer buying behavior
Which of the following is a true statement about B2B (business-to-business) marketing
Marketers approach B2B marketing differently than consumer marketing
Natalie searched for 45 minutes to locate an important file folder, which she found under a pike of papers in an unmarked box that was stored under her desk. What action did Natalie fail to take that would have increased her efficiency and saved the company money?
Staying organized
Which of the following is an example of corporate responsibility
A company uses recycled materials in its products
Designing an effective marketing strategy is important
to the success of the business
Which of the following is a consideration in the price element of marketing
Should the business offer discounts?
Determining the group of customers that will be the main target for a company’s goods/services is done through
Market segmentation
Which of the following is an example of a marketing strategy that a business might develop in order to achieve an objective it has outlined in its marketing plan
Lowering prices by 5%
Business A spends less on advertising than Business B. Both businesses sell the same products, but Business B charges higher prices than Business A. Which of the following factors had affected the prices of the business
Promotion
Why are Universal Product Codes (UPCs) often preprinted on products before the manufacturer ships the products to the business?
To simplify the price-marking function
Selling price helps customers to allocate their money because price determines
What customers can afford to purchase
The management function of business is usually responsible for
Setting policy