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WGU C201 BUSINESS ACUMEN OBJECTIVE ASSESSMENT 2 LATEST VERSIONS
WGU C201 BUSINESS ACUMEN OBJECTIVE ASSESSMENT 2 LATEST VERSIONS
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WGU C201 BUSINESS ACUMEN OBJECTIVEASSESSMENT 2 LATEST VERSIONS (VERSION A
AND B) NEWEST 2024 ACTUAL EXAM TEST BANK
COMPLETE 400 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |
ALREADY GRADED A+
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
A company might divide itself into smaller groups that best match the types of
customers it serves. What is this an example of? - ANSWER Departmentalization
Which primary driver does management use for an organization's structure? -
ANSWER Achievement of company goals
Which step in the organizing process results in management grouping work activities
into units within the organization? - ANSWER 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? - ANSWER
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? - ANSWER Everyday Low Pricing
When would a pull promotional strategy enhance a competitive advantage to market
a product better than a push strategy? - ANSWER When demand for the product is
driven by the end user
Which marketing tool is often used to build effective relationship marketing
campaigns? - ANSWER 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? -
ANSWER Personal Selling
,What three factors should be addressed in a successful marketing plan? - ANSWER
Target Market, Sales Revenue Goals and Plan Implementation Timeline
Which three characteristics are measured in demographic segmentation? -
ANSWER Race & Ethnicity, Income and Household Size
In which three ways does business-buying behavior differ from consumer-buying
behavior? - ANSWER A group or committee often makes decisions
Purchasers often invite selected providers to bid on a purchase
Buyers face organizational influences that affect their own preferences
Which three factors suggest a product should be marketed as a specialty product? -
ANSWER Priced high
Purchased infrequently
Available from a small number of retail outlets
With which two types of products does a marketing strategy rely on advertising more
than personal selling? - ANSWER 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? - ANSWER Adding new users, finding new
uses for the product, increasing frequency of use.
What are three qualities of strong brand equity? - ANSWER Awareness, Loyalty and
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? - ANSWER brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking
capabilities of a global package delivery service? - ANSWER Direct
Which three tasks are key responsibilities of operations managers? - ANSWER
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? - ANSWER
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? -
ANSWER Establishment of effective quality systems
Which manufacturing model uses technology to produce small runs of customized
products cost effectively? - ANSWER Flexible
, Which two of the following distribution channels would take title of the products they
handle? - ANSWER 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? - ANSWER Demand
Curve
Which two factors drive demand in a microeconomic system? - ANSWER Price of
substitute goods
Customer preference
How does a sudden shortage of a commodity product affect the immediate demand
for the product at its current price? - ANSWER Demand increases
Which two impacts result from a nation's increase in productivity? - ANSWER
Economy expands
Personal wealth increases
For which two purposes will the U.S. Federal Reserve System follow an
expansionary monetary policy? - ANSWER 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? - ANSWER 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? - ANSWER Analyzing major investment
decisions
Which two activities are finance activities rather than accounting activities? -
ANSWER Making capital market investments
Creating a financial plan
Which three sources should a business consider when seeking a long-term funding
source? - ANSWER Venture capital
Public sale of stocks
Hedge funds
In which type of security should a business invest its excess cash in anticipation of
paying off the current year's tax liability? - ANSWER commerical paper
Which role does the underwriter play in financing business operations when using
the capital market to sell securities to the public? - ANSWER It assumes the risk of
the assessed value of the security from the issuer.
Why should a manager use financial controls in a firm's financial plan? - ANSWER
To determine the accuracy of forecasted revenues, costs, and expenses
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