Question 1

Working capital may be used to pay for:

Accepted Answer

A)  what it costs to store inventory. 
B)  marketing research. 
C)  advertising. 
D)  what a firm owes suppliers. 
E)  All of these. 
A)  what it costs to store inventory. 
B)  marketing research. 
C)  advertising. 
D)  what a firm owes suppliers. 
E)  All of these.

Question 2

What is the first step in marketing cost analysis?

Accepted Answer

A)  Allocating functional cost to customers. 
B)  Reallocating costs to evaluate profitability of profit centers. 
C)  Analyzing the results. 
D)  Reclassifying dollar cost entries into functional cost accounts. 
E)  Initiating a follow-up. 
A)  Allocating functional cost to customers. 
B)  Reallocating costs to evaluate profitability of profit centers. 
C)  Analyzing the results. 
D)  Reclassifying dollar cost entries into functional cost accounts. 
E)  Initiating a follow-up.

Question 3

When a new marketing plan is more successful than expected,

Accepted Answer

A)  scarce supply may result in a waste of marketing resources, especially promotion spending. 
B)  the firm may face problems finding enough well-trained people to handle the growth that occurs. 
C)  the firm is more likely to be able to fund expansion through its own cash flow. 
D)  All of these are correct. 
E)  None of these is correct. 
A)  scarce supply may result in a waste of marketing resources, especially promotion spending. 
B)  the firm may face problems finding enough well-trained people to handle the growth that occurs. 
C)  the firm is more likely to be able to fund expansion through its own cash flow. 
D)  All of these are correct. 
E)  None of these is correct.

Question 4

Task transfer is using telecommunications to move service operations to places where there are pools of skilled workers.

Accepted Answer

A) True 
 B)False

Question 5

Compared to most U.S.firms,Japanese firms have a reputation for expecting a marketing plan to be profitable in a much shorter period of time.

Accepted Answer

A) True 
 B)False

Question 6

Capital is the money needed to pay the personnel expenses required during the period of a marketing plan.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true of an ERP system?

Accepted Answer

A)  It can only be used to store data about a company's resources. 
B)  Its usage makes hacking difficult and therefore enhances security. 
C)  It facilitates the flow of information among all the business functions within an organization. 
D)  Its usage is mandatory for ensuring the protection of customer data. 
E)  It does not facilitate the flow of information between a company and its suppliers. 
A)  It can only be used to store data about a company's resources. 
B)  Its usage makes hacking difficult and therefore enhances security. 
C)  It facilitates the flow of information among all the business functions within an organization. 
D)  Its usage is mandatory for ensuring the protection of customer data. 
E)  It does not facilitate the flow of information between a company and its suppliers.

Question 8

Many companies today choose to use ERP systems to manage information.ERP here stands for:

Accepted Answer

A)  entrepreneurship research program. 
B)  enterprise resource planning. 
C)  efficient resource production. 
D)  economic rate planning. 
E)  ergonomics research program. 
A)  entrepreneurship research program. 
B)  enterprise resource planning. 
C)  efficient resource production. 
D)  economic rate planning. 
E)  ergonomics research program.

Question 9

Each month the sales staff of TechPro Products makes an average of 209 sales calls on prospective customers at a cost of about $4,600 (salary plus expenses).What is the average cost of a sales call (to the nearest dollar amount)?

Accepted Answer

A)  $22 
B)  $25 
C)  $28 
D)  $31 
E)  $34 
A)  $22 
B)  $25 
C)  $28 
D)  $31 
E)  $34

Question 10

A company with a successful marketing strategy has its own internal source of funds-profits.

Accepted Answer

A) True 
 B)False

Question 11

When a marketing strategy increases profit contribution without increasing capital invested,the firm's return on investment also increases.

Accepted Answer

A) True 
 B)False

Question 12

Marketing managers should strive to cut production costs that don't add value for customers.

Accepted Answer

A) True 
 B)False

Question 13

Marketing cost analysis:

Accepted Answer

A)  just uses the same "natural" accounting categories commonly used for financial analysis. 
B)  allocates costs to products or customers to focus on the purpose for which marketing money is spent. 
C)  is not very accurate, since it is almost impossible to link marketing costs to specific sales. 
D)  is done more frequently than analysis of manufacturing costs. 
E)  None of these is true. 
A)  just uses the same "natural" accounting categories commonly used for financial analysis. 
B)  allocates costs to products or customers to focus on the purpose for which marketing money is spent. 
C)  is not very accurate, since it is almost impossible to link marketing costs to specific sales. 
D)  is done more frequently than analysis of manufacturing costs. 
E)  None of these is true.

Question 14

Enterprise resource planning systems are used to integrate internal and external information management across the entire organization.

Accepted Answer

A) True 
 B)False

Question 15

A virtual corporation:

Accepted Answer

A)  acts primarily as a coordinator. 
B)  has no need for suppliers because it produces everything it needs or sells. 
C)  does none of its production "in house". 
D)  All of these. 
E)  Acts primarily as a coordinator and does none of its production "in house" only. 
A)  acts primarily as a coordinator. 
B)  has no need for suppliers because it produces everything it needs or sells. 
C)  does none of its production "in house". 
D)  All of these. 
E)  Acts primarily as a coordinator and does none of its production "in house" only.

Question 16

A firm's working capital may come from either internal sources-such as sales revenue and profits-or external sources-such as money from sales of stocks or bonds.

Accepted Answer

A) True 
 B)False

Question 17

A marketing manager who wants to calculate the cost of marketing several products to several target markets will probably have to:

Accepted Answer

A)  read all requisitions very carefully. 
B)  allocate advertising expense to general overhead. 
C)  reorganize some of the company`s functional cost accounts to natural accounts. 
D)  reclassify all natural accounts into functional accounts. 
E)  None of these-it is impossible to link the costs of marketing to target markets. 
A)  read all requisitions very carefully. 
B)  allocate advertising expense to general overhead. 
C)  reorganize some of the company`s functional cost accounts to natural accounts. 
D)  reclassify all natural accounts into functional accounts. 
E)  None of these-it is impossible to link the costs of marketing to target markets.

Question 18

The problems of matching supply and demand occur less frequently when a marketing plan calls for:

Accepted Answer

A)  rapid penetration into many different types of channels. 
B)  the staged distribution of a new product. 
C)  quick expansion into many different market areas at once. 
D)  a national roll out instead of a regional roll out. 
A)  rapid penetration into many different types of channels. 
B)  the staged distribution of a new product. 
C)  quick expansion into many different market areas at once. 
D)  a national roll out instead of a regional roll out.

Question 19

Capital comes from external sources and working capital comes from internal sources.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is an example of a FUNCTIONAL cost account?

Accepted Answer

A)  Auto repairs 
B)  Advertising 
C)  Taxes 
D)  Social Security 
E)  Any of these-because functional accounts include any costs which are used in the normal preparation of a company's operating statement. 
A)  Auto repairs 
B)  Advertising 
C)  Taxes 
D)  Social Security 
E)  Any of these-because functional accounts include any costs which are used in the normal preparation of a company's operating statement.

Exam 4: Managing Marketings Link With Other Functional Areas

Working capital may be used to pay for:

What is the first step in marketing cost analysis?

When a new marketing plan is more successful than expected,

Task transfer is using telecommunications to move service operations to places where there are pools of skilled workers.

Compared to most U.S.firms,Japanese firms have a reputation for expecting a marketing plan to be profitable in a much shorter period of time.

Capital is the money needed to pay the personnel expenses required during the period of a marketing plan.

Which of the following is true of an ERP system?

Many companies today choose to use ERP systems to manage information.ERP here stands for:

Each month the sales staff of TechPro Products makes an average of 209 sales calls on prospective customers at a cost of about $4,600 (salary plus expenses).What is the average cost of a sales call (to the nearest dollar amount)?

A company with a successful marketing strategy has its own internal source of funds-profits.

When a marketing strategy increases profit contribution without increasing capital invested,the firm's return on investment also increases.

Marketing managers should strive to cut production costs that don't add value for customers.

Marketing cost analysis:

Enterprise resource planning systems are used to integrate internal and external information management across the entire organization.

A virtual corporation:

A firm's working capital may come from either internal sources-such as sales revenue and profits-or external sources-such as money from sales of stocks or bonds.

A marketing manager who wants to calculate the cost of marketing several products to several target markets will probably have to:

The problems of matching supply and demand occur less frequently when a marketing plan calls for:

Capital comes from external sources and working capital comes from internal sources.

Which of the following is an example of a FUNCTIONAL cost account?

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

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