Question 1

"Natural accounts" are:

Accepted Answer

A)  usually allocated to functional accounts by the MIS method. 
B)  accounts to which various costs are charged in the normal accounting cycle. 
C)  misleading for calculating a firm's total profitability. 
D)  usually named to show the purpose for which expenditures are made. 
E)  All of these. 
A)  usually allocated to functional accounts by the MIS method. 
B)  accounts to which various costs are charged in the normal accounting cycle. 
C)  misleading for calculating a firm's total profitability. 
D)  usually named to show the purpose for which expenditures are made. 
E)  All of these.

Question 2

Problems of matching supply and demand often occur when a marketing plan calls for quick expansion into many different types of channels.

Accepted Answer

A) True 
 B)False

Question 3

Human resource issues can be especially important when there is a need to implement a new marketing plan that involves major changes in the organization.

Accepted Answer

A) True 
 B)False

Question 4

____ refers to a share in the ownership of a company.

Accepted Answer

A)  Dividend 
B)  Stock 
C)  Overhead 
D)  Debt 
E)  Working capital 
A)  Dividend 
B)  Stock 
C)  Overhead 
D)  Debt 
E)  Working capital

Question 5

Mass customization means using the principles of mass production to appeal to the unique needs of individual customers and smaller segments of the market.

Accepted Answer

A) True 
 B)False

Question 6

_____ looks at when money will be available.

Accepted Answer

A)  Cash flow 
B)  Profit and loss 
C)  Balance sheet 
D)  Net profit 
E)  Gross margin 
A)  Cash flow 
B)  Profit and loss 
C)  Balance sheet 
D)  Net profit 
E)  Gross margin

Question 7

Capital is the financial term for the amount of money invested in a firm.

Accepted Answer

A) True 
 B)False

Question 8

A firm may raise money by selling shares of ownership in the company called:

Accepted Answer

A)  Bonds. 
B)  Working capital. 
C)  Capital. 
D)  Stock. 
E)  None of these. 
A)  Bonds. 
B)  Working capital. 
C)  Capital. 
D)  Stock. 
E)  None of these.

Question 9

Each month the sales staff of Capital Plumbing Supplies, Inc., makes an average of 125 sales calls on prospective customers at a cost of about $3,500 (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 firm's _____ is usually responsible for finding and allocating capital.

Accepted Answer

A)  chief financial officer 
B)  chief operating officer 
C)  chief technology officer 
D)  chief executive officer 
E)  chief marketing officer 
A)  chief financial officer 
B)  chief operating officer 
C)  chief technology officer 
D)  chief executive officer 
E)  chief marketing officer

Question 11

Starbucks ran a full-page ad in THE WALL STREET JOURNAL proclaiming that its baristas can make more than 87,000 possible combinations of an espresso coffee drink. This is an example of:

Accepted Answer

A)  Combined target market approach. 
B)  Mass customization. 
C)  Task transfer. 
D)  Diversification strategy. 
E)  Single target market approach. 
A)  Combined target market approach. 
B)  Mass customization. 
C)  Task transfer. 
D)  Diversification strategy. 
E)  Single target market approach.

Question 12

Production flexibility allows a firm to provide business customers with the just-in-time delivery service or rapid-response replenishment of inventories that they expect.

Accepted Answer

A) True 
 B)False

Question 13

When Frito-Lay introduced Tostitos Gold, demand quickly outstripped supply resulting in lost sales and wasted promotion spending.

Accepted Answer

A) True 
 B)False

Question 14

The categories to which various costs are charged in the normal financial accounting cycle are:

Accepted Answer

A)  Natural accounts. 
B)  Functional accounts. 
C)  Cash accounts. 
D)  Expense accounts. 
E)  None of these. 
A)  Natural accounts. 
B)  Functional accounts. 
C)  Cash accounts. 
D)  Expense accounts. 
E)  None of these.

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Marketing cost analysis starts with the assumption that:

Accepted Answer

A)  "natural accounts" are more useful than "functional accounts." 
B)  marketing expenditures are made for a specific purpose-and so it makes sense to allocate costs to different market segments, customers, or products. 
C)  all marketing expenditures should be treated as overhead expenses. 
D)  overall profit is what counts-so it isn't critical if some market segments, products, or customers are unprofitable. 
E)  All of these. 
A)  "natural accounts" are more useful than "functional accounts." 
B)  marketing expenditures are made for a specific purpose-and so it makes sense to allocate costs to different market segments, customers, or products. 
C)  all marketing expenditures should be treated as overhead expenses. 
D)  overall profit is what counts-so it isn't critical if some market segments, products, or customers are unprofitable. 
E)  All of these.

Question 17

It is the responsibility of the chief executive-not the marketing manager-to make the strategic planning decisions that concern how a firm is going to use its overall resources-from marketing, production, finance and other areas.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is the reason why an internally financed company selling its products at a lower price can earn more profit than a competitor who is operating on borrowed money?

Accepted Answer

A)  Investors are more likely to purchase a company's stock if it is internally financed. 
B)  It is less expensive since no interest expense is involved. 
C)  The value of stock of an internally financed company is easier to predict. 
D)  Market forecast is more difficult if a company is operating on borrowed money. 
E)  Commercial banks do not allow a company to borrow money unless it can provide collateral security. 
A)  Investors are more likely to purchase a company's stock if it is internally financed. 
B)  It is less expensive since no interest expense is involved. 
C)  The value of stock of an internally financed company is easier to predict. 
D)  Market forecast is more difficult if a company is operating on borrowed money. 
E)  Commercial banks do not allow a company to borrow money unless it can provide collateral security.

Question 19

A major purpose of marketing cost analysis is to:

Accepted Answer

A)  determine which costs are fixed and which are variable. 
B)  avoid the pitfalls of the full-cost approach to allocating costs. 
C)  divide costs into natural accounts. 
D)  show the marketing manager where costs occur in relation to serving particular customers. 
E)  avoid the pitfalls of the contribution-margin approach to allocating costs. 
A)  determine which costs are fixed and which are variable. 
B)  avoid the pitfalls of the full-cost approach to allocating costs. 
C)  divide costs into natural accounts. 
D)  show the marketing manager where costs occur in relation to serving particular customers. 
E)  avoid the pitfalls of the contribution-margin approach to allocating costs.

Question 20

Which of the following is commonly used to integrate internal and external information management across an entire organization?

Accepted Answer

A)  Enterprise resource planning system 
B)  Customer relationship management system 
C)  Human resource planning system 
D)  Enterprise performance management system 
E)  Corporate decision support system 
A)  Enterprise resource planning system 
B)  Customer relationship management system 
C)  Human resource planning system 
D)  Enterprise performance management system 
E)  Corporate decision support system

"Natural accounts" are:

Problems of matching supply and demand often occur when a marketing plan calls for quick expansion into many different types of channels.

Human resource issues can be especially important when there is a need to implement a new marketing plan that involves major changes in the organization.

____ refers to a share in the ownership of a company.

Mass customization means using the principles of mass production to appeal to the unique needs of individual customers and smaller segments of the market.

_____ looks at when money will be available.

Capital is the financial term for the amount of money invested in a firm.

A firm may raise money by selling shares of ownership in the company called:

Each month the sales staff of Capital Plumbing Supplies, Inc., makes an average of 125 sales calls on prospective customers at a cost of about $3,500 (salary plus expenses). What is the average cost of a sales call (to the nearest dollar amount)?

A firm's _____ is usually responsible for finding and allocating capital.

Starbucks ran a full-page ad in THE WALL STREET JOURNAL proclaiming that its baristas can make more than 87,000 possible combinations of an espresso coffee drink. This is an example of:

Production flexibility allows a firm to provide business customers with the just-in-time delivery service or rapid-response replenishment of inventories that they expect.

When Frito-Lay introduced Tostitos Gold, demand quickly outstripped supply resulting in lost sales and wasted promotion spending.

The categories to which various costs are charged in the normal financial accounting cycle are:

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

Marketing cost analysis starts with the assumption that:

It is the responsibility of the chief executive-not the marketing manager-to make the strategic planning decisions that concern how a firm is going to use its overall resources-from marketing, production, finance and other areas.

Which of the following is the reason why an internally financed company selling its products at a lower price can earn more profit than a competitor who is operating on borrowed money?

A major purpose of marketing cost analysis is to:

Which of the following is commonly used to integrate internal and external information management across an entire organization?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Ethical Marketing in a Consumer-Oriented World

Filters

Exam 19: Managing Marketings Link With Other Functional Areas

"Natural accounts" are:

Problems of matching supply and demand often occur when a marketing plan calls for quick expansion into many different types of channels.

Human resource issues can be especially important when there is a need to implement a new marketing plan that involves major changes in the organization.

____ refers to a share in the ownership of a company.

Mass customization means using the principles of mass production to appeal to the unique needs of individual customers and smaller segments of the market.

_____ looks at when money will be available.

Capital is the financial term for the amount of money invested in a firm.

A firm may raise money by selling shares of ownership in the company called:

Each month the sales staff of Capital Plumbing Supplies, Inc., makes an average of 125 sales calls on prospective customers at a cost of about $3,500 (salary plus expenses). What is the average cost of a sales call (to the nearest dollar amount)?

A firm's _____ is usually responsible for finding and allocating capital.

Starbucks ran a full-page ad in THE WALL STREET JOURNAL proclaiming that its baristas can make more than 87,000 possible combinations of an espresso coffee drink. This is an example of:

Production flexibility allows a firm to provide business customers with the just-in-time delivery service or rapid-response replenishment of inventories that they expect.

When Frito-Lay introduced Tostitos Gold, demand quickly outstripped supply resulting in lost sales and wasted promotion spending.

The categories to which various costs are charged in the normal financial accounting cycle are:

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

Marketing cost analysis starts with the assumption that:

It is the responsibility of the chief executive-not the marketing manager-to make the strategic planning decisions that concern how a firm is going to use its overall resources-from marketing, production, finance and other areas.

Which of the following is the reason why an internally financed company selling its products at a lower price can earn more profit than a competitor who is operating on borrowed money?

A major purpose of marketing cost analysis is to:

Which of the following is commonly used to integrate internal and external information management across an entire organization?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Ethical Marketing in a Consumer-Oriented World

Filters