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Study Guide for Final Exam Fall 2015

1.-Which of the following is defined as a customer's perception that a certain product


offers a better relationship between costs and benefits than competitors' products do?

2.- In the definition of value, what is the most important word to note?

3.- Which of the following gives the five steps in the consumer buying process in the correct order?

4.- Income level, profession, educational level, and political status all reflect which factor that affects our
consumer decision making?

5.- Idaho potatoes are likely sold all over the United States, but it is unlikely that the Idaho potato
industry spends many marketing dollars to promote its potatoes in New England, due to the large potato
production in Maine. This is an example of what kind of consumer marketing segmentation?

6.- Go Red for Women is a campaign put on by the American Heart Association to raise awareness of
heart disease in women. This campaign is an example of what type of marketing?

7.- Which of the following is NOT one of the four Ps of the marketing mix?

8,- Which of the following is NOT one of the four steps in marketing research?

9.- Which of the following is an example of a source of secondary data?

10.- Which of the following is an example of a source of primary data?

11.- Advertising, public relations, publicity, personal selling, and other kinds of sales come into play at
which stage in the marketing process?

12.- At which stage in the marketing process do concept testing and test marketing come into play?

13.- Which of the following lists the four Ps of the marketing mix in order of consideration?

14.- Which of the following is an example of convenience goods and services?

15.- Which of the following is an example of unsought goods and services?

16.- Which product is in a different category of innovation from the others?

17.- Which product is in a different stage of the product life cycle than the other products?

18.- Which of the following gives the stages in developing a new product in the correct order?
19.- Products that don't fit the company's product mix, are too expensive, will take too long to execute, or
won't generate enough sales are addressed at this stage in developing a new product.

20.- A big question at this stage in developing a new product is whether to roll out the product gradually
in selected geographical areas or roll it out nationwide all at once.

21.- Which of the following describes manufacturers' brands?

22.- Which of the following is NOT one of the four goals of branding?

23,- What is the name given to commitment to a particular brandthe degree to which consumers are
satisfied with a product and will buy it again?

24.- Anti-smoking warning labels on cigarette packages, dosage information on cough medicine
packages, and liner notes on DVD packaging all come under which function of packaging?

25.- Which of the following represents the pricing goal of attracting customers?

26.- What is price skimming?

27.- What is setting a low price to attract many customers and deter competition called?

28.- Which of the following is an example of penetration pricing?

29.- Which kind of pricing is the technique of pricing products or services in odd rather than even
amounts to make products seem less expensive?

30.- What is the name given to the total of all the techniques that companies use to motivate consumers to
buy their products?

31.- What is the name given to intermediaries who sell products to other businesses for resale to ultimate
customers or to institutions and businesses for use in their operations?

32.- Which of the following BEST defines the distribution mix?

33.- Which of the following is the most likely example of a distribution channel with three intermediaries?

34.- When intermediaries bring flowers from greenhouses to stores, which of the following are they
affecting?

35.- Warren is an intermediary who serves as an agent. What must be true of Warren's work?

36.- Amazon, Travelocity, and Priceline all principally utilize which type of marketing?

37.- What is the strategy of planning and coordinating the movement of materials and products from raw
materials to final buyers called?

38.- Which of the following is true of logistics?


39.- Which of the following is true of rail transport?

40.- Which of the following is MOST likely to use a distribution center rather than a storage warehouse?

41.- Which of the following is NOT among the promotional tools used in the promotional mix?

42.- Which of the following is one of the three goals of promotion?

43.- Who is the pull promotional strategy aimed at?

44.- Which of the following is NOT among the six major types of advertising strategies?

45.- Which advertising method would MOST likely be used to sell customers life insurance?

46.- Which of the following is a form of publicity?

47.- What is the process of identifying potential customers known as?

48.- What is the term given to the recording of a firm's financial transactions?

49.- Which of the following occurred as a direct result of a specific high-profile accounting scandal?

50.- Which of the following is NOT among the standards of the generally accepted accounting principles?

51.- Why is the format for recording each journal entry known as double-entry bookkeeping?

52.- Which of the following is NOT one of the reports or financial statements the bookkeeper issues at the
end of every accounting period?

53.- Which of the following shows a firm's assets and liabilities?

54.- Which of the following represents the accounting equation?

55.- What are liabilities?

56.- What characteristic must an asset have in order to count as a current asset?

57.- Which of the following is considered a long-term liability?

58.- Current assets divided by which of the following gives the current ratio?

59.- When are financial reports required of a company?

60.- If Bennett is a private certified management accountant, which of the following statements is TRUE
about him?

61.- Flora is interested in studying how to investigate suspected crimes within the field of finance. What
type of accountant will she become?
62.- If Sam, owner of a bicycle repair shop, repairs Jim's bicycle in exchange for a dinner at Jim's
restaurant, what has just occurred?

63.- Which of the following is NOT an example of money?

64 Which of the following is NOT one of the functions of money?

65.- Which of the following is NOT true of the U.S. money supply?

66.- What differentiates M1 from M2?

67.- What percentage of a bank's transaction account funds does the reserve requirement say must be kept
as vault cash or in a Federal Reserve bank account?

68.- Lark argues that in another ten years, paper checks will be used only for ceremonial purposes. Which
of the following is she assuming?

69.- Which of the following is an example of a nonbank?

70.- What are the nondeposit institutions that provide retirement benefits to workers and their families
called?

71.- Which of the following is NOT among those who are protecting your money in banks?

72.- What is one difference between savings and loan associations and mutual savings banks?

73.- What is the chief purpose of the process known as financial control?

74,- Which of the following is considered an intangible asset?

75.- Which of the following is NOT considered an incentive under employee compensation structures?