Essential Business & Marketing Principles

Marketing and Business Fundamentals

• The production subsystem develops utility: form.
• The panel method is a primary method of data collection.
• The purchase of a car could be classified as: high involvement.
• Within the factors influencing consumer behavior, personality is not considered a social factor.
• The target audience is the set of consumers that a company targets.
• Amplitude refers to the number of different product lines that make up a company's portfolio.
• Of the following promotional tools, which is not connected to a specific market or customer: advertising.
• Sports sponsorship is an activity related to: public relations.
• Inventory entries can be valued at: purchase price or production cost.
• Sub-stores have the disadvantage that the production flow can rupture, leading to a stockout.
• The graphic used to distinguish a product is called a: logo.
• Variables controllable by a company and therefore changeable according to its interests are known as the: 4 Ps of Marketing.
• A monopoly is a form of imperfect competition in which there is one seller and many buyers.
• The strategy of applying the same brand to all products from the same company is called: single branding.
• Being a "price-acceptor" is a characteristic of a perfect competition market.
• Which of these variables is controllable: product.
• The method used to determine the price that can achieve a given profit or sales volume is the: target price method.
• When retailers have exclusive sales for a territory, the distribution channel usually used is: short.
• Which of the three options is correct: Marketing identifies, creates, and develops demand.
• The reorder point is the level of stored goods at which a new order must be placed.

Management and Organizational Principles

• Most plans include the following elements: objectives, strategies, and task allocation.
• Which is the correct statement: Departmentalization by function is most often used in medium and large enterprises that produce a single product.
• Which of these tools is not used as a control tool: control unit.
• What is a flow chart: A graphic representation that reflects organizational units and their relationships.
• The function of leading is composed of the following activities: planning, organizing, managing, and controlling.
• The theory based on the assumption that most people find work unpleasant is: F. Taylor's Scientific Management.
• Within the planning function of a company, objectives are the end results to be achieved with the plan.
• The set of tasks grouped with a delineation of authority and responsibility for a person's role is called a: job.