AnswersGA-Introduction to Business and TechnologyAccounting

Study Guide and Quiz Answers

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1
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_____________ are things people want in order to be happy and feel good.

A
Features
B
Desires
C
Images
D
Needs
2
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If your company increases its market penetration, what is happening?

A
The target market is growing.
B
More people in the target market are buying the company's product.
C
The market saturation of the target market has decreased.
D
Competitors who offer similar products are entering the market.
3

Which of the following is a reason that your company might not want to increase its market share?

A
The market saturation for your product is low.
B
Many of your company's competitors have bad reputations.
C
Your company has a limited capacity for producing your product.
D
The price of your product is very competitive.
4

If you collect personal information about your customers, what should you do?

A
Tell customers how you will use and protect their information.
B
Share their information with other companies in your industry.
C
Give the customers access to your database so they can learn about other customers.
D
Hide customer information from most of your employees.
5

Which of the following is an example of secondary data?

A
Your company observes the behavior of people who visit your Web site.
B
Your company conducts a customer profile survey.
C
Your company collects and analyzes data from the U.S. census.
D
Your company collects credit card information from customers.
6

When you gather primary or secondary data, what part of the market information management process are you participating in?

A
Market positioning
B
Market research
C
Data analysis
D
Data mining
7

What is data mining?

A
A promotion strategy
B
Entering primary data into a CRM database software program
C
Collecting primary and secondary data
D
Analyzing data to detect patterns of shared characteristics
8

A company's ____________ is the percentage of the total target market for the product that belongs to the company.

A
Market saturation
B
Market share
C
Brand image
D
Market information
9

Which type of data does your company collect from customers or potential customers?

A
Positioning data
B
Market share data
C
Primary data
D
Secondary data
10

In the five C's, how is cost different from price?

A
It includes the company's operating costs.
B
It makes it easier to promote the product.
C
It reduces the company's operating expenses.
D
It includes all of the costs related to the product.
11

Instead of focusing on a good, a company that provides a service is likely to focus its marketing message on what?

A
The physical goods that are used to provide the service
B
The features of the service or the data storage methods the company uses
C
The people who provide the service or the experience customers will have
D
The company's competitors or the SWOT analysis of the company
12

Which of the following is an example of promotion?

A
The quality of a product
B
The price of a product
C
An advertisement
D
An employee who works for your company
13

_____________ is when your company makes an effort to actively control and shape your brand image with your target market.

A
Market penetration
B
Market segmenting
C
Data mining
D
Market positioning
14

What do fear-based marketing messages and advertisements focus on?

A
Negative changes in the market that have reduced demand for the product
B
Threats to the company's business
C
The bad things that will happen to people who don't buy the product
D
The company's competitors and their prices
15

_____________ is when your company makes an effort to actively control and shape your brand image with your target market.

A
Market penetration
B
Market segmenting
C
Data mining
D
Market positioning
16

In the five C's, how is cost different from price?

A
It includes the company's operating costs.
B
It makes it easier to promote the product.
C
It reduces the company's operating expenses.
D
It includes all of the costs related to the product.
17

Which of the following is a reason that your company might not want to increase its market share?

A
The market saturation for your product is low.
B
Many of your company's competitors have bad reputations.
C
Your company has a limited capacity for producing your product.
D
The price of your product is very competitive.
18

Which of the following is an example of secondary data?

A
Your company observes the behavior of people who visit your Web site.
B
Your company conducts a customer profile survey.
C
Your company collects and analyzes data from the U.S. census.
D
Your company collects credit card information from customers.
19

If you collect personal information about your customers, what should you do?

A
Tell customers how you will use and protect their information.
B
Share their information with other companies in your industry.
C
Give the customers access to your database so they can learn about other customers.
D
Hide customer information from most of your employees.
20

If your company increases its market penetration, what is happening?

A
The target market is growing.
B
More people in the target market are buying the company's product.
C
The market saturation of the target market has decreased.
D
Competitors who offer similar products are entering the market.

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