C201 BUSINESS ACUMEN QUESTIONS & ANSWERS
Which part of the organizing process aids in effective and efficient progress toward
planned goals and often results in changes within the organization?
1. Promoting vision
2. Evaluating results
3. Turning strategy into action
4. Determining the specific activities - Answers -Evaluating results
What is the result of a company increasing the delegation of authority and the span of
control?
1. Centralized decision making
2. Increased number of managers at the upper management level
3. Increased number of direct reports per manager
4. Increased decision-making authority given to employees - Answers -Increased
decision-making authority given to employees
When would a pull promotional strategy enhance a competitive advantage to market a
product better than a push strategy?
1. When the product is best sold through personal selling activities.
2. When demand for the product is driven by marketing intermediaries.
3. When demand for the product is driven by the end user.
4. By combining messages of price-value, product differentiation, and prestige into a
focused campaign. - Answers -When demand for the product is driven by the end user.
Which marketing tool is often used to build effective relationship marketing campaigns?
1. Affinity programs
2. Logistics
3. Distribution strategies
4. Product mix - Answers -Affinity programs
Which element of the promotional mix has the advantage of messaging that can be
tailored for each customer, but the disadvantage of a high cost per contact?
1. Advertising
2. Personal selling
3. Sales promotion
4. Sponsorships - Answers -Personal selling
What three factors should be addressed in a successful marketing plan?
Choose 3 answers:
, 1. Target market
2. Product gross margin target
3. Sales revenue goals
4. Product specifications
5. Plan implementation timeline - Answers -1. Target market
3. Sales revenue goals
5. Plan implementation timeline
Which three characteristics are measured in demographic segmentation?
Choose 3 answers:
1. Race and ethnicity
2. Geographic location
3. Income
4. Purchase history
5. Household size - Answers -1. Race and ethnicity
3. Income
5. Household size
In which three ways does business-buying behavior differ from consumer-buying
behavior?
Choose 3 answers:
1. A group or committee often makes decisions.
2. Purchasers follow an ad hoc process.
3. Purchasers often invite selected providers to bid on a purchase.
4. Buyers treat each buying decision independently.
5. Buyers face organizational influences that affect their own preferences. - Answers -
1. A group or committee often makes decisions.
3. Purchasers often invite selected providers to bid on a purchase.
5. Buyers face organizational influences that affect their own preferences.
Which three factors suggest a product should be marketed as a specialty product?
Choose 3 answers:
1. Priced high
2. Priced low
3. Purchased frequently
4. Purchased infrequently
5. Available from a large number of retailers
6. Available from a small number of retail outlets - Answers -1. Priced high
4. Purchased infrequently
6. Available from a small number of retail outlets
Which part of the organizing process aids in effective and efficient progress toward
planned goals and often results in changes within the organization?
1. Promoting vision
2. Evaluating results
3. Turning strategy into action
4. Determining the specific activities - Answers -Evaluating results
What is the result of a company increasing the delegation of authority and the span of
control?
1. Centralized decision making
2. Increased number of managers at the upper management level
3. Increased number of direct reports per manager
4. Increased decision-making authority given to employees - Answers -Increased
decision-making authority given to employees
When would a pull promotional strategy enhance a competitive advantage to market a
product better than a push strategy?
1. When the product is best sold through personal selling activities.
2. When demand for the product is driven by marketing intermediaries.
3. When demand for the product is driven by the end user.
4. By combining messages of price-value, product differentiation, and prestige into a
focused campaign. - Answers -When demand for the product is driven by the end user.
Which marketing tool is often used to build effective relationship marketing campaigns?
1. Affinity programs
2. Logistics
3. Distribution strategies
4. Product mix - Answers -Affinity programs
Which element of the promotional mix has the advantage of messaging that can be
tailored for each customer, but the disadvantage of a high cost per contact?
1. Advertising
2. Personal selling
3. Sales promotion
4. Sponsorships - Answers -Personal selling
What three factors should be addressed in a successful marketing plan?
Choose 3 answers:
, 1. Target market
2. Product gross margin target
3. Sales revenue goals
4. Product specifications
5. Plan implementation timeline - Answers -1. Target market
3. Sales revenue goals
5. Plan implementation timeline
Which three characteristics are measured in demographic segmentation?
Choose 3 answers:
1. Race and ethnicity
2. Geographic location
3. Income
4. Purchase history
5. Household size - Answers -1. Race and ethnicity
3. Income
5. Household size
In which three ways does business-buying behavior differ from consumer-buying
behavior?
Choose 3 answers:
1. A group or committee often makes decisions.
2. Purchasers follow an ad hoc process.
3. Purchasers often invite selected providers to bid on a purchase.
4. Buyers treat each buying decision independently.
5. Buyers face organizational influences that affect their own preferences. - Answers -
1. A group or committee often makes decisions.
3. Purchasers often invite selected providers to bid on a purchase.
5. Buyers face organizational influences that affect their own preferences.
Which three factors suggest a product should be marketed as a specialty product?
Choose 3 answers:
1. Priced high
2. Priced low
3. Purchased frequently
4. Purchased infrequently
5. Available from a large number of retailers
6. Available from a small number of retail outlets - Answers -1. Priced high
4. Purchased infrequently
6. Available from a small number of retail outlets
