WGU C201 Study Set Questions and Answers 2024

WGU C201 Study Set Questions and Answers 2024 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 Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:06 / 0:15 Full screen Which two key elements does an effective organization include? 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? Organization 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? Target market Sales revenue goals Plan implementation timeline Which three characteristics are measured in demographic segmentation? Race and ethnicity Income Household size In which three ways does business-buying behavior differ from consumer-buying behavior? A group or committee often makes decisions Buyers face organizational influences that affect their own preferences Purchasers often invite selected providers to bid on a purchase With which two types of products does a marketing strategy rely on advertising more than personal selling? Accessories to primary products Consumable supplies After years of marketing a body lotion, a cosmetics company begins promoting the lotion as an insect repellent as well. In which three product life cycle extension strategies did this company engage? Adding new users Increasing frequency of use Finding new uses for the product What are three qualities of strong brand equity? Awareness Loyalty Favorable images A customer intends to purchase her favorite cereal. It is out of stock, so she purchases an alternative brand of cereal instead. Which stage of brand loyalty is this customer in? Brand equity Which manufacturer distribution model is enhanced by the shipping and tracking capabilities of a global package delivery service? Direct Which three tasks are key responsibilities of operations managers? Planning the overall production process Determining the best layout for the firm's facilities Implementing the production plan Which two characteristics does a Just-In-Time (JIT) System have? Production using JIT reduces a firm's inventory costs. A JIT system seeks to eliminate anything that does not add value in operations activities. Which aspect of operations management do the ISO 9000 standards address? Establishment of effective quality systems Which manufacturing model uses technology to produce small runs of customized products cost effectively? Flexible Which two of the following distribution channels would take title of the products they handle? Limited-function merchant wholesaler Full-function merchant wholesaler Which economic graph is used by organizations to regulate production by predicting the amount of product buyers will purchase at different prices? Demand curve Which two factors drive demand in a microeconomic system? Component shortage Price of substitute goods How does a sudden shortage of a commodity product affect the immediate demand for the product at its current price? Demand increases Which two impacts result from a nation's increase in productivity? Economy expands Personal wealth increases For which two purposes will the U.S. Federal Reserve System follow an expansionary monetary policy? To encourage bankers to make loans To cut the cost of borrowing Which two economic impacts should a manager anticipate when the U.S. government reduces the number of Treasury bills, Treasury Notes, and Treasury bonds it sells? A rise of interest rates on these securities An increase in overall cost of debt to private borrowers What is one role of a financial manager? Analyzing major investment decisions