Business Administration
Exam Answer Key
Course Introduction
Business Administration is a comprehensive field of study that focuses on the principles and practices involved in managing and overseeing business operations. The course covers key topics such as organizational behavior, management theory, marketing, finance, accounting, human resources, and strategic planning. Students develop critical thinking, problem-solving, leadership, and communication skills, enabling them to analyze and address complex business challenges. By exploring real-world case studies and engaging in practical projects, learners gain a foundational understanding of how businesses operate and succeed in competitive environments, preparing them for a wide range of careers in the private, public, and non-profit sectors.
Recommended Textbook
Marketing Management An Asian Perspective 3rd Edition by Philip Kotler
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Chapter 1: Marketing: Managing Profitable Customer Relationships
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Sample Questions
Q1) According to the authors of your text,the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy.
A) product
B) production
C) marketing
D) retailing
E) societal marketing
Answer: C
Q2) Value has different meanings to and is perceived differently by different consumers.
A)True
B)False Answer: True
Q3) Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Your department is practicing the selling concept.
A)True
B)False
Answer: False
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Chapter 2: Company and Marketing Strategy: Partnering to Build
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Q1) Into what quadrant of the product/market expansion grid would a modified or new product fall?
Answer: It would fall into the product development quadrant.
Q2) The BCG growth-share matrix classifies four types of SBUs.They are ________,________,________,and ________.
A) product; price; promotion; placement
B) sales; market share; price; promotion
C) stars; cash cows; question marks; dogs
D) planning; implementing; leading; controlling
E) market penetration; market development; product development; diversification
Answer: C
Q3) What type of strategy should a company use to manage its cash cows?
Answer: Because a cash cow generates cash without much investment,a company should use the profits to support other SBUs.
Q4) Into what BCG quadrant does a high-share,high-growth SBU fall?
Answer: It falls into the "star" category.
Q5) How might the BCG matrix represent a life cycle?
Answer: Many SBUs start out as question marks,then move into the star category if they succeed; stars eventually become cash cows,and then perhaps,dogs.
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Chapter 3: The Marketing Environment
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Q1) A(n)________ is defined as any group that has an actual or potential interest in,or impact on,an organization's ability to achieve its objectives.
A) team
B) competitor
C) market
D) public
E) intermediary
Answer: D
Q2) Richard Tan works for a distribution channel firm that helps several electronics companies find customers or make sales to them.Richard works for a reseller.
A)True
B)False
Answer: True
Q3) How do baby boomers today differ from previous generations as they neared and reached their sixties?
Answer: Baby boomers are more likely to retire later and to work more after retiring; Rather than viewing themselves as phasing out,they see themselves as entering new life phases.
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Chapter 4: Managing Marketing Information
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Q1) Larger samples typically are more expensive but do not provide more reliable results.
A)True
B)False
Q2) Causal research is used to ________.
A) test hypotheses about cause-and-effect relationships
B) gather preliminary information that will help define problems
C) uncover information in an unstructured way
D) describe marketing problems or situations
E) quantify observations that produce insights unobtainable through other forms of research
Q3) Which method of research can obtain information that people are unwilling or unable to provide?
A) observational
B) focus groups
C) personal interviews
D) fax surveys
E) questionnaires
Q4) In what way(s)did Jason's project require exploratory research?
Q5) Did Jason use any particular type(s)of marketing intelligence in this scenario?
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Chapter 5: Consumer Markets and Consumer Buyer
Behavior
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Q1) A customer's lifestyle can be measured by using the AIO dimensions.What does AIO stand for?
A) Activities, Interests, Opinions
B) Achievement, Involvement, Organizations
C) Accommodation, Investment, Orientation
D) Acknowledgements, Interests, Observations
E) Adoptions, Interests, Occupations
Q2) Compare and contrast the four types of buying decision behavior exhibited by consumers.
Q3) Explain the concept of brand personality.
Q4) Give an example of a cultural shift that may impact the marketing of products or services.
Q5) The buying process starts with ________,in which the buyer recognizes a problem.
A) need recognition
B) information search
C) product awareness
D) product interest
E) alternative evaluation
Q6) What role do the four Ps play in consumer behavior?
Q7) In what way might a marketer rely on opinion leaders? Page 7
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Chapter 6: Business Markets and Business Buyer Behavior
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Q1) E-procurement typically cuts transaction costs and results in more efficient purchasing for both buyers and suppliers.
A)True
B)False
Q2) Which business buying situation is the marketer's greatest opportunity and challenge?
A) modified rebuy
B) straight rebuy
C) new task
D) multiple rebuys
E) system rebuy
Q3) Members of the buying center at ABC Kid's World are drawing up a list of desired toy supplier attributes and their relative importance.Next,they intend to compare several suppliers to these attributes.What step of the business buying process is the ABC Kid's World engaged?
A) supplier search
B) proposal solicitation
C) supplier selection
D) order-routine specification
E) performance review
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Chapter 7: Customer-Driven Marketing Strategy: Creating
Value for Target Customers
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Q1) Explain gender segmentation.
Q2) When a business market segment is large or profitable enough to serve,it is termed
A) measurable
B) accessible
C) substantial
D) actionable
E) differentiable
Q3) Mass marketing is becoming a marketing principle for the 21?? century.
A)True
B)False
Q4) Many firms make an effort to identify smaller,better-defined target groups by using
A) differentiation
B) concentrated marketing
C) multiple segmentation bases
D) positioning
E) mass marketing
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Q5) Why must marketers guard against stereotypes when using age and life-cycle segmentation?
Chapter 8: Products,Services,and Brands: Building
Customer Value
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Q1) Head & Shoulders began to market shampoo for normal hair.In an attempt to increase profits and use excess market capacity,Head & Shoulders then marketed shampoo for oily hair and color-treated hair.This is an example of ________.
A) line filling
B) social marketing
C) a shopping product
D) an unsought product
E) people marketing
Q2) In a service business,the customer and front-line service employee interact to create the service.
A)True
B)False
Q3) Product support services identify the product or brand,describe several things about the product,and promote the product through attractive graphics.
A)True
B)False
Q4) Give an example of the second level of a product.
Q5) List the desirable qualities for a brand name.
Q6) A manufacturer has four brand sponsorship options.Describe what they are.
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Chapter 9: New Product Development and Product
Life-Cycle
Strategies
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Q1) Introducing a new product into the market is called ________.
A) test marketing
B) new product development
C) experimenting
D) commercialization
E) marketing development
Q2) Apple's iPod has been called "one of the greatest consumer electronics hits of all time." More than 120 million iPods have been sold.This success has attracted many large,resourceful competitors.The iPod is in the ________ stage of the product life cycle.
A) introduction
B) product development
C) maturity
D) decline
E) adoption
Q3) When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.
A)True
B)False
Page 12
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Chapter 10: Pricing Products: Understanding and Capturing
Customer Value
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Q1) Identify and describe the internal factors affecting a firm's pricing decisions.
Q2) Explain a pure monopoly.
Q3) The simplest pricing method is cost-plus pricing,which involves adding a standard markup to the cost of the product.
A)True
B)False
Q4) The relationship between the price charged and the resulting demand level can be shown as the ________.
A) demand curve
B) variable cost
C) target cost
D) break-even pricing
E) experience curve
Q5) When setting prices,the company must consider its external environment.Describe four parts of the external environment and how they affect businesses.
Q6) Value-based pricing is being used when costs vary directly with the level of product.
A)True
B)False
Page 13
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Chapter 11: Pricing Products: Pricing Strategies
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Q1) When are competitors most likely to react to price changes? How can a firm anticipate the likely reactions of its competitors?
Q2) Governments accept some reasons for price fixing when it does not limit competition.
A)True
B)False
Q3) The frequent use of promotional pricing can encourage customers to only buy when a brand is on sale.
A)True
B)False
Q4) IKEA slashed its prices in China to the lowest in the world.This is an example of a
A) market-skimming pricing
B) market-penetration pricing
C) new-product pricing
D) discount pricing
E) value-added pricing
Q5) How can a manufacturer avoid using retail price maintenance but still exert some influence over the price retailers charge for its product?
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Chapter 12: Marketing Channels: Delivering Customer Value
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Q1) Producers benefit from using intermediaries because they ________.
A) offer greater efficiency in making goods available to target markets
B) bring a fresh point of view to strategy development
C) eliminate risk
D) are generally backlogged with orders
E) refuse to store products for longer than a few days
Q2) Which of the following is an example of horizontal channel conflict?
A) managers of two separate Holiday Inns disagreeing over what constitutes poor service
B) Singapore Airlines competing with Northwest Airlines for customers
C) disgruntled factory workers complaining about a small pay raise
D) the BMW dealership in one state complaining that the BMW dealership in another state is situated too close
E) A and D
Q3) Why is it important for Toyota to be sensitive to the needs of its dealers?
A) Dealers have few legal rights.
B) Manufacturers have few legal rights.
C) Dealers can easily be replaced by third-party logistics providers.
D) Dealer support is essential to creating value for the customer.
E) Manufacturers cannot break commitments to channel.
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Chapter 13: Retailing and Wholesaling
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Q1) Early ________ cut expenses by offering few services and operating in warehouse-like facilities in low-rent,heavily traveled districts.
A) chain stores
B) factory outlet malls
C) discount stores
D) off-price retailers
E) full-service retailers
Q2) Touch-screen kiosks,customer-loyalty cards,handheld shopping assistants,and self-scanning checkout systems are all examples of how retailers use technology to
A) maintain inventory costs
B) send information between stores
C) meet consumers' expectations
D) produce more accurate forecasts
E) interact with suppliers
Q3) The distinction between large retailers and large wholesalers is changing because most large wholesalers are abandoning their retail operations.
A)True
B)False
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Chapter 14: Communicating Customer Value: Integrated Marketing
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Q1) Describe the six buyer-readiness stages along with marketing strategies that may be used at each stage.
Q2) The six ________ stages that consumers normally pass through on their way to making a purchase begin with awareness and end with purchase.
A) personal readiness
B) buyer-readiness
C) objective readiness
D) market readiness
E) supplier readiness
Q3) All of the following are strategies a marketer would use to lead consumers into making the final step toward a purchase EXCEPT which one?
A) offer special promotional prices
B) offer add-on features
C) offer premiums
D) use extensive "teaser" advertising
E) offer rebates
Q4) How are advertising and direct marketing different?
Q5) Explain why sellers must avoid bait-and-switch advertising.
Q6) Outline the steps in developing effective marketing communications.
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Chapter 15: Advertising and Public Relations
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Q1) The advertiser must decide on the ________,or desired media impact,of a message in a specific medium.
A) reach
B) illustration
C) qualitative value
D) exposure costs
E) frequency
Q2) High audience selectivity; flexibility; no ad competition within the same medium; allows
Personalization.Which medium has these advantages?
A) advertising
B) television
C) radio
D) direct mail
E) outdoor
Q3) Give an example of testimonial evidence.
Q4) Slice of life,lifestyle,and personality symbol are all execution styles used in public relations.
A)True
B)False
Page 18
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Chapter 16: Personal Selling and Sales Promotion
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Q1) Kirk Wong renewed his mobile phone contract with M1 and purchased a new mobile phone through the M1 website.If Kirk mails M1 his phone receipt,proof of purchase,and a completed form,he will receive $50 in the mail.What type of sales promotion is being used by M1?
A) point of purchase
B) advertising specialty
C) premium
D) price pack
E) rebate
Q2) During the hiring process,companies that test sales applicants typically measure all of the following abilities EXCEPT ________.
A) sales aptitude
B) organizational skills
C) accounting skills
D) analytical skills
E) personality traits
Q3) Why does a firm's number of prospects always equal or exceed its number of qualified customers?
Q4) What type of company would be likely to use a product sales force structure?
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Chapter 17: Direct and Online Marketing: Building Direct Customer Relationships
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Q1) Amazon.com,eBay,and Dell employ ________ as their only method of doing business with customers.
A) mass marketing
B) sales promotion
C) direct marketing
D) public relations
E) personal selling
Q2) The forerunners of today's direct marketing were the catalog companies,direct mailers,and telemarketers who gathered customer names and sold goods mainly by mail and telephone.
A)True
B)False
Q3) Which of the following is a challenge of marketing through online social networks?
A) Users often resent an intrusive marketing message.
B) Existing networks are resistant to advertising.
C) Most existing networks are already controlled by major corporations.
D) Virtual worlds will most likely replace social networks in the near future.
E) Measuring the frequency and volume of network usage is difficult.
Q4) What are "opt-in" calling systems?
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Chapter 18: Creating Competitive Advantage
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Q1) Michael Porter suggests four basic competitive positioning strategies that companies can follow-three winning strategies and one losing one.Which of the following are considered winning strategies?
A) middle-of-the-roader, focus, and overall cost leadership
B) focus, differentiation, and middle-of-the-roader
C) overall cost leadership, differentiation, and middle-of-the-roader
D) overall cost leadership, differentiation, and focus
E) differentiation, operational excellence, and focus
Q2) The existence of competitors in a market may help a company increase total demand.
A)True
B)False
Q3) Rather than challenging head on,the challenger can make ________ on the competitor's weaknesses or on gaps in the competitor's market coverage.
A) a direct attack
B) a frontal attack
C) an indirect attack
D) an individual attack
E) a leadership attack
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Page 21
Chapter 19: The Global Marketplace
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Questions
Q1) Nokia created dustproof keypads,crucial in dry,hot countries with many unpaved roads,such as India.This is an example of ________.
A) product invention
B) straight product extension
C) standard global marketing
D) communication adaptation
E) product adaptation
Q2) Hershey recently linked with Indian-based Godrej Beverages and Foods to make and distribute its chocolates in that country.When it comes to selling chocolate in India,Hershey will need all the help it can from its new local partner.This is an example of which joint venture?
A) licensing
B) contract manufacturing
C) management contracting
D) joint ownership
E) indirect exporting
Q3) Why is it important for companies to understand cultural differences and nuances before entering a foreign country's market? Give two examples of cultural differences that would be important for a company to know.
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Chapter 20: Sustainable Marketing: Social Responsibility and Ethics
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Q1) Xerox Corporation's Equipment Remanufacture and Parts Reuse Program converts end-of-life office equipment into new products and parts.This not only helps sustain the environment,but it is also highly profitable for the company.Such a practice is known as
A) pollution prevention
B) green marketing
C) a sustainability vision
D) design for environment (DFE)
E) new environmental technology
Q2) How is the societal marketing concept related to marketing ethics?
Q3) The following quote best describes ________."The marvels of modern technology include the development of a soda can which,when discarded,will last forever,and a...car,which when properly cared for,will rust out in two or three years."
A) planned obsolescence
B) product failure
C) deceptive promotions
D) deceptive packaging
E) excessive markups
Q4) Discuss two components of the environmental sustainability portfolio.
Page 23
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