2024 WGU C201 BUSINESS ACUMEN OBJECTIVE
ASSESSMENT QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED
Which two key elements does an effective organization include? -
✔✔ANSWER✔✔>>Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis situation? -
✔✔ANSWER✔✔>>It establishes a direct flow of authority
customer database that allows managers to combine data from several different
organizational functions - ✔✔ANSWER✔✔>>Data warehouse
distinguishes markets on the basis of various demographic or socioeconomic
characteristics - ✔✔ANSWER✔✔>>demographic segmentation
marketing strategy that focuses on the precise way a B2B purchaser will use a product -
✔✔ANSWER✔✔>>end-use segmentation
analysis of external environmental factors by marketers to understand how they impact
business and marketing decisions - ✔✔ANSWER✔✔>>environmental scanning
marketing or sponsoring short-term events such as athletic competitions and cultural
and charitable performances - ✔✔ANSWER✔✔>>event marketing
activity in which two or more parties give something of value to each other to satisfy
perceived needs - ✔✔ANSWER✔✔>>exchange process
marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or
other premiums - ✔✔ANSWER✔✔>>Frequency marketing
dividing a market into homogeneous groups on the basis of their locations -
✔✔ANSWER✔✔>>geographical segmentation
revenues and intangible benefits (referrals and customer feedback) from a customer
over the life of the relationship, minus the amount the company must spend to acquire
and serve that customer - ✔✔ANSWER✔✔>>lifetime value of a customer
,The process of dividing the total market into several relatively homogeneous groups -
✔✔ANSWER✔✔>>Market Segmentation
the activity, set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners, and society at
large - ✔✔ANSWER✔✔>>marketing
company-wide consumer orientation to promote long-run success -
✔✔ANSWER✔✔>>marketing concept
blending of the four elements of marketing strategy - product, distribution, promotion,
and pricing - to fit the needs and preferences of a specific target market -
✔✔ANSWER✔✔>>marketing mix
collecting and evaluating information to help marketers make effective decisions -
✔✔ANSWER✔✔>>marketing research
marketing strategy that influences consumers to accept the goals of, receive the
services of, or contribute in some way to an organization -
✔✔ANSWER✔✔>>organization marketing
use of efforts designed to attract the attention, interest, and preference of a target
market toward a person - ✔✔ANSWER✔✔>>person marketing
attempt to attract people to a particular area, such as a city, state, or nation -
✔✔ANSWER✔✔>>place marketing
dividing consumer markets into groups based on buyers' relationships to the good or
service - ✔✔ANSWER✔✔>>product-related segmentation
dividing consumer markets into groups with similar psychological characteristics,
values, and lifestyles - ✔✔ANSWER✔✔>>psychographic segmentation
developing and maintaining long-term, cost-effective exchange relationships with
partners - ✔✔ANSWER✔✔>>relationship marketing
group of people toward whom an organization markets its goods, services, or ideas with
a strategy designed to satisfy their specific needs and preferences -
✔✔ANSWER✔✔>>Target market
the power of a good or service to satisfy a human need - ✔✔ANSWER✔✔>>Utility
How does planning assist a company? - ✔✔ANSWER✔✔>>Effective planning helps a
company avoid costly mistakes and seize opportunities.
,True or False: The ethical tone that a top management team establishes can reap
monetary rewards only. - ✔✔ANSWER✔✔>>False
Which of the following planning activities involves two components: business
continuation and public communication? - ✔✔ANSWER✔✔>>contingency planning
Fathima, a CEO, sets guideposts that help managers in her organization define the
organization's desired performance in such areas as profitability, customer service,
growth, and employee satisfaction. In this scenario, Fathima is: -
✔✔ANSWER✔✔>>setting objectives.
Decisions involving entering a new market, deleting a product from the line, or
developing a new product are examples of: - ✔✔ANSWER✔✔>>nonprogrammed
decisions
_____ is centered on the boss. - ✔✔ANSWER✔✔>>Autocratic leadership
Managers use symbols, rituals, ceremonies, and stories to reinforce: -
✔✔ANSWER✔✔>>corporate culture
Which of the following statements is true of management? -
✔✔ANSWER✔✔>>Management is the process of achieving organizational objectives
through people and other resources.
The want-satisfying power of a good or service is called _____. -
✔✔ANSWER✔✔>>Utility
Canon's assembly line produces a camera by assembling various parts such as a
shutter or a lens cap. This is an example of a(n) _____ production process. -
✔✔ANSWER✔✔>>synthetic
Historically, robots were commonly used in the _____. - ✔✔ANSWER✔✔>>electronics
and automotive industries
A company that wants to locate near a community often must prepare a(n) _______ that
analyzes how a proposed plant would affect the quality of life in the surrounding area. -
✔✔ANSWER✔✔>>environmental impact study
Since suppliers often offer virtually identical quality levels and prices, the final decision
on supplier selection often depends on: - ✔✔ANSWER✔✔>>the company's past
experience with each supplier.
, The _____ phase of production control determines the sequence of work throughout the
facility and specifies who will perform each aspect of the work at what location. -
✔✔ANSWER✔✔>>routing
True or False: Production creates form utility - ✔✔ANSWER✔✔>>True
A furniture store offers free delivery and free assembly for its buyers is an example of
______ utility? - ✔✔ANSWER✔✔>>ownership
______ is the power of a good or service to satisfy a want or need. -
✔✔ANSWER✔✔>>Utility
The exchange process is an activity in which two or more parties give something of
value to each other to: - ✔✔ANSWER✔✔>>satisfy perceived needs.
For centuries, organizations of the _____ stressed efficiency in developing quality
goods. - ✔✔ANSWER✔✔>>Production Era
In which of the following eras did organizations fully recognize the importance of their
customers? - ✔✔ANSWER✔✔>>Marketing Era
A company ensured a full crowd of spectators by signing a professional golfer to host its
National golf tournament, which also honored U.S. military members. Which one of the
nontraditional categories does this exemplify? - ✔✔ANSWER✔✔>>Organization
marketing
True or False: Not-for-profit organizations operate in both the public and private sector. -
✔✔ANSWER✔✔>>True
Which plan outlines a company's marketing strategy and includes information about the
specific activities to be undertaken, the audience to whom each activity is targeted,
sales and revenue goals, the marketing budget, the timing of who will be responsible for
specific tasks, metrics used to measure goals, and the timing to implement elements of
the marketing mix? - ✔✔ANSWER✔✔>>Marketing Plan
Which strategy includes decisions about package design, brand names, trademarks,
warranties, product image, new-product development, and customer service? -
✔✔ANSWER✔✔>>Product strategy
______ is the process of collecting and evaluating information to help marketers make
effective decisions. - ✔✔ANSWER✔✔>>Marketing Research
ASSESSMENT QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED
Which two key elements does an effective organization include? -
✔✔ANSWER✔✔>>Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis situation? -
✔✔ANSWER✔✔>>It establishes a direct flow of authority
customer database that allows managers to combine data from several different
organizational functions - ✔✔ANSWER✔✔>>Data warehouse
distinguishes markets on the basis of various demographic or socioeconomic
characteristics - ✔✔ANSWER✔✔>>demographic segmentation
marketing strategy that focuses on the precise way a B2B purchaser will use a product -
✔✔ANSWER✔✔>>end-use segmentation
analysis of external environmental factors by marketers to understand how they impact
business and marketing decisions - ✔✔ANSWER✔✔>>environmental scanning
marketing or sponsoring short-term events such as athletic competitions and cultural
and charitable performances - ✔✔ANSWER✔✔>>event marketing
activity in which two or more parties give something of value to each other to satisfy
perceived needs - ✔✔ANSWER✔✔>>exchange process
marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or
other premiums - ✔✔ANSWER✔✔>>Frequency marketing
dividing a market into homogeneous groups on the basis of their locations -
✔✔ANSWER✔✔>>geographical segmentation
revenues and intangible benefits (referrals and customer feedback) from a customer
over the life of the relationship, minus the amount the company must spend to acquire
and serve that customer - ✔✔ANSWER✔✔>>lifetime value of a customer
,The process of dividing the total market into several relatively homogeneous groups -
✔✔ANSWER✔✔>>Market Segmentation
the activity, set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners, and society at
large - ✔✔ANSWER✔✔>>marketing
company-wide consumer orientation to promote long-run success -
✔✔ANSWER✔✔>>marketing concept
blending of the four elements of marketing strategy - product, distribution, promotion,
and pricing - to fit the needs and preferences of a specific target market -
✔✔ANSWER✔✔>>marketing mix
collecting and evaluating information to help marketers make effective decisions -
✔✔ANSWER✔✔>>marketing research
marketing strategy that influences consumers to accept the goals of, receive the
services of, or contribute in some way to an organization -
✔✔ANSWER✔✔>>organization marketing
use of efforts designed to attract the attention, interest, and preference of a target
market toward a person - ✔✔ANSWER✔✔>>person marketing
attempt to attract people to a particular area, such as a city, state, or nation -
✔✔ANSWER✔✔>>place marketing
dividing consumer markets into groups based on buyers' relationships to the good or
service - ✔✔ANSWER✔✔>>product-related segmentation
dividing consumer markets into groups with similar psychological characteristics,
values, and lifestyles - ✔✔ANSWER✔✔>>psychographic segmentation
developing and maintaining long-term, cost-effective exchange relationships with
partners - ✔✔ANSWER✔✔>>relationship marketing
group of people toward whom an organization markets its goods, services, or ideas with
a strategy designed to satisfy their specific needs and preferences -
✔✔ANSWER✔✔>>Target market
the power of a good or service to satisfy a human need - ✔✔ANSWER✔✔>>Utility
How does planning assist a company? - ✔✔ANSWER✔✔>>Effective planning helps a
company avoid costly mistakes and seize opportunities.
,True or False: The ethical tone that a top management team establishes can reap
monetary rewards only. - ✔✔ANSWER✔✔>>False
Which of the following planning activities involves two components: business
continuation and public communication? - ✔✔ANSWER✔✔>>contingency planning
Fathima, a CEO, sets guideposts that help managers in her organization define the
organization's desired performance in such areas as profitability, customer service,
growth, and employee satisfaction. In this scenario, Fathima is: -
✔✔ANSWER✔✔>>setting objectives.
Decisions involving entering a new market, deleting a product from the line, or
developing a new product are examples of: - ✔✔ANSWER✔✔>>nonprogrammed
decisions
_____ is centered on the boss. - ✔✔ANSWER✔✔>>Autocratic leadership
Managers use symbols, rituals, ceremonies, and stories to reinforce: -
✔✔ANSWER✔✔>>corporate culture
Which of the following statements is true of management? -
✔✔ANSWER✔✔>>Management is the process of achieving organizational objectives
through people and other resources.
The want-satisfying power of a good or service is called _____. -
✔✔ANSWER✔✔>>Utility
Canon's assembly line produces a camera by assembling various parts such as a
shutter or a lens cap. This is an example of a(n) _____ production process. -
✔✔ANSWER✔✔>>synthetic
Historically, robots were commonly used in the _____. - ✔✔ANSWER✔✔>>electronics
and automotive industries
A company that wants to locate near a community often must prepare a(n) _______ that
analyzes how a proposed plant would affect the quality of life in the surrounding area. -
✔✔ANSWER✔✔>>environmental impact study
Since suppliers often offer virtually identical quality levels and prices, the final decision
on supplier selection often depends on: - ✔✔ANSWER✔✔>>the company's past
experience with each supplier.
, The _____ phase of production control determines the sequence of work throughout the
facility and specifies who will perform each aspect of the work at what location. -
✔✔ANSWER✔✔>>routing
True or False: Production creates form utility - ✔✔ANSWER✔✔>>True
A furniture store offers free delivery and free assembly for its buyers is an example of
______ utility? - ✔✔ANSWER✔✔>>ownership
______ is the power of a good or service to satisfy a want or need. -
✔✔ANSWER✔✔>>Utility
The exchange process is an activity in which two or more parties give something of
value to each other to: - ✔✔ANSWER✔✔>>satisfy perceived needs.
For centuries, organizations of the _____ stressed efficiency in developing quality
goods. - ✔✔ANSWER✔✔>>Production Era
In which of the following eras did organizations fully recognize the importance of their
customers? - ✔✔ANSWER✔✔>>Marketing Era
A company ensured a full crowd of spectators by signing a professional golfer to host its
National golf tournament, which also honored U.S. military members. Which one of the
nontraditional categories does this exemplify? - ✔✔ANSWER✔✔>>Organization
marketing
True or False: Not-for-profit organizations operate in both the public and private sector. -
✔✔ANSWER✔✔>>True
Which plan outlines a company's marketing strategy and includes information about the
specific activities to be undertaken, the audience to whom each activity is targeted,
sales and revenue goals, the marketing budget, the timing of who will be responsible for
specific tasks, metrics used to measure goals, and the timing to implement elements of
the marketing mix? - ✔✔ANSWER✔✔>>Marketing Plan
Which strategy includes decisions about package design, brand names, trademarks,
warranties, product image, new-product development, and customer service? -
✔✔ANSWER✔✔>>Product strategy
______ is the process of collecting and evaluating information to help marketers make
effective decisions. - ✔✔ANSWER✔✔>>Marketing Research
