BTM Final Exam Review Questions With Completed Answers Already Passed!!

In which of the following situations should a manager use tactical management? - When working with a part-time or temporary employees. Which marketing function involves communication directly with potential customers to determine their needs? - Selling. What are the four elements of a marketing mix? - Product, distribution, price, and promotion. Gross margin is? - The difference between selling price and the product costs. Personal selling is usually done? - Face to face with each customer. Which of the following is a direct channel of distribution? - Farmer Jane grows tomatoes and sells them to customers at a roadside stand next to her farm. Contests, games, and product give-aways are all examples of? - Sales promotion. Which type of budget is an estimate of the actual money recieved and paid out for a specific period? - A cash budget. Which of the following would NOT be considered a benefit? - A salary. The final step in the financial decision-making process is to? - Make needed adjustments to the budget. Which one of the management functions involves analyzing imformation, setting goals, and making decisions about what needs to be done? - Planning.Employees at the first level of management in a business are? - Supervisors. All leaders need to be dependable, which means that they? - Follow through on commiments. Sources of job satisfaction include? - Recognition from supervisors for a job well done. Facilities management begins with? - Keeping utilities costs under control. A time plan for completing activities is called a(n)? -Schedule. Additions and improvements to a basic product are called? - Product features. Product costs + operating expenses + profit =? - Selling price. After several new products ideas have been generates, companies will most likely? - Evaluate the ideas to determine which have the best opportunity to succeed. To plan effective promotions, marketers must first? - Understand the communication process. A key difference between advertising and publicity is that? - Advertising is paid communication and publicity is non-paid. A business will make a profit if? - Revenue is greater than expenses. In simple terms, _______ are what a company owns. - Assets The staffing management function? - Includes all of the activities involved in obtaining and compensating employees.Executives spend most of their time on? - Planning and controlling activities