ADMN 400 UPDATED ACTUAL Exam
Questions and CORRECT Answers
Financial planning - CORRECT ANSWER - process of looking at your current financial
condition, identifying your goals, and anticipating steps towards meeting those goals.
PITI - CORRECT ANSWER - Principal, interest, taxes, and insurance
Which of the following is the first step in the marketing research process? - CORRECT
ANSWER - study the current situation
The marketing department of a community college invites a group of students to participate in a
guided discussion of their college experience, including what they like and dislike, and how their
expectations of college life differ from their actual experiences. What form of marketing research
is the community college using? - CORRECT ANSWER - Focus group
Data a company collects itself when consumers test its products is ________. - CORRECT
ANSWER - Primary data
Perfect Pizza likes to find out directly from customers what customers like and don't like.
Management brings together groups of customers and asks them questions about the company
and its products. This is an example of which of the following?3 - CORRECT ANSWER -
Focus group
Management of Alright Airlines wanted to know why passengers were not selecting their flights,
so they hired a company to make phone calls to former customers to find out why they switched
to a different airline. What type of research did Alright Airlines conduct? - CORRECT
ANSWER - Survey
What is the BEST way for a company to gather information that it needs quickly? - CORRECT
ANSWER - Secondary data
, A retail store increases its hours of operation so that it is open from 9:00 a.m. until 9:00 p.m.
Monday through Friday, and 9:00 a.m. until 6:00 p.m. on Saturday and Sunday. Which form of
utility does this represent? - CORRECT ANSWER - Time
In response to growing consumer demand for environmentally friendly products, a retailer of
men's clothing offers a selection of vegan and leather-free footwear and carries only items that
meet a strict set of environmental standards. This would BEST reflect which element of the
company's external environment? - CORRECT ANSWER - Sociocultural enviornment
Exciting Electronics, Inc. provides options for its customers. Its products can be purchased
online or at retail stores. What is Exciting Electronics providing? - CORRECT ANSWER -
Place utility
For every $100 Jason spends each month on groceries at his favorite store, he receives 10 cents
off a gallon of gas, so Jason often will drive out of his way to shop at this store. This is an
example of ________. - CORRECT ANSWER - Relationship marketing
A company stops using a celebrity in its ads because he was reported to have made offensive
racial comments. This is an example of how the ________ environment affects marketing. -
CORRECT ANSWER - Sociocultural
All cell phone companies have similar products, so their advertising focuses on convincing
potential customers of the benefits their products offer. What are these companies facing? -
CORRECT ANSWER - Brand competition
The element of the marketing mix that includes personal selling, publicity and public relations,
and direct or interactive marketing is _______. - CORRECT ANSWER - Promotional
Inventory control and transportation options are part of which of the four "Ps" of marketing? -
CORRECT ANSWER - Place
Custom Cosmetics is offering a free gift with any purchase of $25 or more. This is an example of
________. - CORRECT ANSWER - Sales promotion
Questions and CORRECT Answers
Financial planning - CORRECT ANSWER - process of looking at your current financial
condition, identifying your goals, and anticipating steps towards meeting those goals.
PITI - CORRECT ANSWER - Principal, interest, taxes, and insurance
Which of the following is the first step in the marketing research process? - CORRECT
ANSWER - study the current situation
The marketing department of a community college invites a group of students to participate in a
guided discussion of their college experience, including what they like and dislike, and how their
expectations of college life differ from their actual experiences. What form of marketing research
is the community college using? - CORRECT ANSWER - Focus group
Data a company collects itself when consumers test its products is ________. - CORRECT
ANSWER - Primary data
Perfect Pizza likes to find out directly from customers what customers like and don't like.
Management brings together groups of customers and asks them questions about the company
and its products. This is an example of which of the following?3 - CORRECT ANSWER -
Focus group
Management of Alright Airlines wanted to know why passengers were not selecting their flights,
so they hired a company to make phone calls to former customers to find out why they switched
to a different airline. What type of research did Alright Airlines conduct? - CORRECT
ANSWER - Survey
What is the BEST way for a company to gather information that it needs quickly? - CORRECT
ANSWER - Secondary data
, A retail store increases its hours of operation so that it is open from 9:00 a.m. until 9:00 p.m.
Monday through Friday, and 9:00 a.m. until 6:00 p.m. on Saturday and Sunday. Which form of
utility does this represent? - CORRECT ANSWER - Time
In response to growing consumer demand for environmentally friendly products, a retailer of
men's clothing offers a selection of vegan and leather-free footwear and carries only items that
meet a strict set of environmental standards. This would BEST reflect which element of the
company's external environment? - CORRECT ANSWER - Sociocultural enviornment
Exciting Electronics, Inc. provides options for its customers. Its products can be purchased
online or at retail stores. What is Exciting Electronics providing? - CORRECT ANSWER -
Place utility
For every $100 Jason spends each month on groceries at his favorite store, he receives 10 cents
off a gallon of gas, so Jason often will drive out of his way to shop at this store. This is an
example of ________. - CORRECT ANSWER - Relationship marketing
A company stops using a celebrity in its ads because he was reported to have made offensive
racial comments. This is an example of how the ________ environment affects marketing. -
CORRECT ANSWER - Sociocultural
All cell phone companies have similar products, so their advertising focuses on convincing
potential customers of the benefits their products offer. What are these companies facing? -
CORRECT ANSWER - Brand competition
The element of the marketing mix that includes personal selling, publicity and public relations,
and direct or interactive marketing is _______. - CORRECT ANSWER - Promotional
Inventory control and transportation options are part of which of the four "Ps" of marketing? -
CORRECT ANSWER - Place
Custom Cosmetics is offering a free gift with any purchase of $25 or more. This is an example of
________. - CORRECT ANSWER - Sales promotion
