C201 - Business Acumen: Exam Questions and Answers

C201 - Business Acumen: Exam Questions and Answers Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? Evaluating results What is the result of a company increasing the delegation of authority and the span of control? Increased decision-making authority given to employees Which two key elements does an effective organization include? Choose 2 answers Human interaction Structure Why does a line organizational structure function most effectively in a crisis situation? It establishes a direct flow of authority. A company might divide itself into smaller groups that best match the types of customers it serves. What is this is an example of? Departmentalization Which primary driver does management use for an organization's structure? Achievement of company goals Which step in the organizing process results in management grouping work activities into units within the organization? Departmentalization A high-tech startup company is launching a marketing campaign for its new social media portal by highlighting how the portal exceeds the connectivity and collaboration capabilities of all other social media sites. Which type of competitive advantage is this company leveraging? Product Which marketing strategy is devoted to maintaining continuous bottom line prices rather than relying on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales? Everyday low pricing When would a pull promotional strategy enhance a competitive advantage to market a product better than a push strategy? When demand for the product is driven by the end user. Which marketing tool is often used to build effective relationship marketing campaigns? 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? Personal selling What three factors should be addressed in a successful marketing plan? Choose 3 answers Target market Sales revenue goals Plan implementation timeline Which three characteristics are measured in demographic segmentation? Choose 3 answers Race and ethnicity Income Household size In which three ways does business-buying behavior differ from consumer-buying behavior? Choose 3 answers A group or committee often makes decisions. Purchasers often invite selected providers to bid on a purchase. 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 Priced high Purchased infrequently