BA Exam 3 Questions and Answers Already Passed
All of the following are outsiders who rely on information from an organization's financial
statements except ______ - Answers managers
Magazines located next to the checkout counter at a grocery store would probably be classified
as ______ - Answers convenience products
An accounting term that is synonymous with revenue is ______ - Answers sales
CPA stands for ______ - Answers certified public accountant
The first major step of a marketing strategy is to ______ - Answers select a target market
Diet Coke is a ______ - Answers brand name
Another name for a checking account is a ______ - Answers demand deposit
When a computer company initially charged a low price for a new computer and then raised the
price after gaining a large market share, it was using which pricing strategy? - Answers
penetration
The marketing mix is a combination of ______ - Answers product, price, promotion, and
distribution (place)
Long-term assets are also called what? - Answers fixed
If a company is eliminating certain models of a product and cutting back on expenditures, the
product is most likely in which life cycle stage? - Answers decline
What is not considered an asset (inventory, land, cash, equipment, a bank loan)? - Answers a
bank loan
The most widely used source of short-term financing is ______ - Answers trade credit
Cash, investments, accounts receivable, and inventory are also known as ______ - Answers
current assets
If Linda Wilson borrows $20,000 to buy a car and ends up paying the lender a total of $24,000,
the $4,000 difference represents the ______ - Answers interest
If a company develops an advertising campaign that targets a segment of consumers with a
certain income and education, the company is using the following segmentation variable ______
- Answers demographic
Money has all the following characteristics except ______ - Answers intangibility
As a medium of exchange, money ______ - Answers eliminates the cumbersome barter system
, An income statement shows ______ - Answers revenues, expenses, and net income over a
period of time
What is the definition of marketing? - Answers a systematic approach to satisfying consumers
What are the different functions of marketing? - Answers research, product design, pricing,
transportation, storage, distribution, advertising, promotion and personal selling
What is a "marketing orientation?" - Answers an approach requiring organizations to gather
information about customer needs, share information across firm, use information to build long-
term relationships with customers
What are the two components of "Developing Marketing Strategies?" - Answers (1) the selection
and analysis of a target market and (2) the creation and maintenance of an appropriate
marketing mix (a combination of product, price, distribution, and promotion developed to satisfy
a particular target market)
What is market segmentation? - Answers a strategy to divide the total market into groups of
people with relatively similar product needs
What is a target market? - Answers a more specific group of consumers on whose needs and
wants a company focuses its marketing efforts
What is the product definition in a marketing mix? - Answers a good, service or idea that has
tangible and intangible attributes that provide satisfaction and benefits to consumers (includes
brand identity, packaging, labeling, and service features)
What is the price definition in a marketing mix? - Answers a value placed on a product or service
that is exchanged between a buyer and seller (includes strategies for discounts, shipping costs,
competitor pricing, etc.)
What is the place definition in a marketing mix? - Answers making products available to
consumers in the quantities and locations desired (channel of Distribution via internet, e-
commerce, drop shipping, etc.)
What is the promotion definition in a marketing mix? - Answers a persuasive form of
communication that attempts to expedite a marketing exchange by influencing individuals and
organizations to accept goods, services, and ideas
What are the two types of data available to decision makers? - Answers (1) primary data and (2)
secondary data
(1) PD is collected directly from respondents (surveys)
(2) SD is information compiled inside or outside an organization for some purpose other than
All of the following are outsiders who rely on information from an organization's financial
statements except ______ - Answers managers
Magazines located next to the checkout counter at a grocery store would probably be classified
as ______ - Answers convenience products
An accounting term that is synonymous with revenue is ______ - Answers sales
CPA stands for ______ - Answers certified public accountant
The first major step of a marketing strategy is to ______ - Answers select a target market
Diet Coke is a ______ - Answers brand name
Another name for a checking account is a ______ - Answers demand deposit
When a computer company initially charged a low price for a new computer and then raised the
price after gaining a large market share, it was using which pricing strategy? - Answers
penetration
The marketing mix is a combination of ______ - Answers product, price, promotion, and
distribution (place)
Long-term assets are also called what? - Answers fixed
If a company is eliminating certain models of a product and cutting back on expenditures, the
product is most likely in which life cycle stage? - Answers decline
What is not considered an asset (inventory, land, cash, equipment, a bank loan)? - Answers a
bank loan
The most widely used source of short-term financing is ______ - Answers trade credit
Cash, investments, accounts receivable, and inventory are also known as ______ - Answers
current assets
If Linda Wilson borrows $20,000 to buy a car and ends up paying the lender a total of $24,000,
the $4,000 difference represents the ______ - Answers interest
If a company develops an advertising campaign that targets a segment of consumers with a
certain income and education, the company is using the following segmentation variable ______
- Answers demographic
Money has all the following characteristics except ______ - Answers intangibility
As a medium of exchange, money ______ - Answers eliminates the cumbersome barter system
, An income statement shows ______ - Answers revenues, expenses, and net income over a
period of time
What is the definition of marketing? - Answers a systematic approach to satisfying consumers
What are the different functions of marketing? - Answers research, product design, pricing,
transportation, storage, distribution, advertising, promotion and personal selling
What is a "marketing orientation?" - Answers an approach requiring organizations to gather
information about customer needs, share information across firm, use information to build long-
term relationships with customers
What are the two components of "Developing Marketing Strategies?" - Answers (1) the selection
and analysis of a target market and (2) the creation and maintenance of an appropriate
marketing mix (a combination of product, price, distribution, and promotion developed to satisfy
a particular target market)
What is market segmentation? - Answers a strategy to divide the total market into groups of
people with relatively similar product needs
What is a target market? - Answers a more specific group of consumers on whose needs and
wants a company focuses its marketing efforts
What is the product definition in a marketing mix? - Answers a good, service or idea that has
tangible and intangible attributes that provide satisfaction and benefits to consumers (includes
brand identity, packaging, labeling, and service features)
What is the price definition in a marketing mix? - Answers a value placed on a product or service
that is exchanged between a buyer and seller (includes strategies for discounts, shipping costs,
competitor pricing, etc.)
What is the place definition in a marketing mix? - Answers making products available to
consumers in the quantities and locations desired (channel of Distribution via internet, e-
commerce, drop shipping, etc.)
What is the promotion definition in a marketing mix? - Answers a persuasive form of
communication that attempts to expedite a marketing exchange by influencing individuals and
organizations to accept goods, services, and ideas
What are the two types of data available to decision makers? - Answers (1) primary data and (2)
secondary data
(1) PD is collected directly from respondents (surveys)
(2) SD is information compiled inside or outside an organization for some purpose other than
