SEVI 2053 Final Exam 2023 Questions and Answers;these are all possible quizzes with complete solution
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SEVI 2053 Final Exam 2023 Questions and Answers;these are all possible quizzes with complete solution
Lotsa Fabric, Inc. just installed a computer-based system for continually gathering internal and external information about fabric sales. This system is known as
a marketing information system....
SEVI 2053 Final Exam 2023 Questions and Answers;these
are all possible quizzes with complete solution
Lotsa Fabric, Inc. just installed a computer-based system for continually
gathering internal and external information about fabric sales. This system is
known as
a marketing information system.
Brandon wants to ask his girlfriend to marry him. To prepare for the big date, he
decides to buy a new suit to wear, a dozen roses, a ring, and make reservations at
a nice restaurant overlooking a lake. He has determined that he has $1,000 to
spend for everything on his list. He has picked out the ring and the roses, and is
down to $400 in his budget for the dinner and suit. He estimates dinner will cost
about $150 which will leave him with $250 for the suit. Any money left from the
suit will be used to buy a nicer ring. He finds a suit he likes at Men's Warehouse
but it is $600. He finds one similar and made from the same fabric at Macys for
$700. He finds one at the Suit Outlet Store that is not quite as nice, but looks
good on him for $100. Brandon buys the suit from Suit Outlet and buys a bigger
diamond for the ring. In this scenario, price serves the function of allocator. What
kind of allocation did Suit Outlet enjoy when Brandon bought his suit?
financial resources of producers
When Glade introduced the plug-in room freshener, it had developed an entirely
new
innovation
____ focuses on enhancing the reputation of the total organization by increasing
public awareness of a company's products, brands, or activities and by fostering
desirable company images, such as innovativeness, dependability, or social
responsibility.
Public relations
In order to compare financial data in their annual reports, most corporations
include important elements of their financial statements
for recent years.
Louis Vuitton designs dresses which are shown at fashion shows. Almost
immediately after the shows, similar clothing is designed by other firms to
compete with these styles. These products are called
imitations
____ has a repayment period of 30 to 60 days.
Trade credit
Clarabelle is opening a cheese shop. She has determined what it costs to
produce each type of cheese product she will sell, how much overhead she must
include in each product price, and other costs associated with producing each
cheese product. After doing these computations she visits cheese specialty
shops in other cities and several neighborhood grocery stores to review their
cheese prices. She returns to her shop and prices her cheeses similar to the
competitors' prices. What type of pricing strategy is she using?
Competition-based pricing
,When a firm reports its operating expenses, they are categorized as either ____
expenses related to the firm's marketing activities or ____ expenses incurred in
managing the business.
selling; general
Nail Concepts, a nail and day spa, is collecting marketing research information.
All of the following are ways to collect useful marketing research information
except
impulsively stopping persons on the street to inquire about their buying habits.
On Terry's Tire Shop books, the cost of the car lifts, which are fixed assets, will
be spread over their useful life which is called
depreciation
Princess Cruise Lines representatives talk to its present and potential customers
to assess where they would like to cruise, where they have cruised, how many
people they would most likely take with them on a cruise, and what amenities and
activities they enjoy and participate in or are likely to participate in. Princess is
applying the ___ concept.
marketing
Kerry's Store orders a product from the manufacturer, who puts it on a truck
owned by a third-party shipper, who delivers it to the post office in Kerry's city
where it is put on a post office truck and delivered to Kerry's Store. This
sequence of organizations is known as a
distribution channel.
Onolina went to the mall with her friend to do some shopping, eat lunch, and go
to a movie. She picked out several articles of clothing at one store, tried them on,
and decided to buy them. She gave the cashier a plastic card from her wallet
which the cashier swiped through the reader on the register. Onolina was happy
because she would not have to pay for the clothing until she received the
statement at the end of the month. She and her friend went to the movie theater
where Onolina used cash from her wallet to pay for her ticket, drink, and popcorn.
When the movie was over, she and her friend went to lunch at a restaurant in the
mall. When it was time to pay, she gave the cashier a different plastic card from
her wallet. The cashier ran the card through her machine and the amount due was
immediately electronically subtracted from Onolina's bank account. What kind of
transaction did she participate in when she paid for lunch?
Debit card transaction
Dishes, luggage, clothing, golf clubs, and camping gear that Costco owns for
selling to its customers are classified as
merchandise inventory
Kohls, Inc. has central distribution centers where goods are received and stored
and prepared for reshipment. The activities involved in operating these
distribution centers are called
warehousing
SDF Corporation is in dire financial straits. It will ____ as a last resort for
obtaining funds.
sell assets
,Southwest Traders, a single location food service distributor in Temecula,
California, serves as a carrier for several private food supply companies. This
business is a ____ carrier.
contract
The finance office of Wendy's is setting out its budget for the next year and has
set aside $1 million for advertising appropriation. This is
the total amount of money designated for advertising in a given period.
Nancy has moved into a new apartment. Since her old roommate owned the
television and several other large living room items, Nancy is now spending time
comparing prices, products, and styles of furniture and televisions for her
apartment. Her television and furniture are best classified as _____ products.
shopping
Bicycles and Bytes, a bicycle shop with Internet access, sells bicycles, tires,
pumps, bicycle repair kits, and other bicycle parts; energy snacks, drinks, and
powders; and bicycling apparel and shoes. This store is classified as a ____.
traditional specialty store
Wealthy female street motorcycle riders could be considered a(n) ___ for Ducati,
a manufacturer of expensive luxury motorcycles.
market segment
Esther makes out her shopping list with the following items that she insists are
the best there is and she will not buy any by any other producer: Heinz ketchup,
Bounty paper towels, Kleenex tissues, Dawn dish soap. Esther has made her
shopping list based on her ___.
brand loyalty
A ___ is everything that one receives in an exchange including all tangible and
intangible attributes and expected benefits.
product
An employee whose responsibility is to oversee all the activities concerned with
obtaining money and using it effectively is a(n)
financial planner.
Tito is reviewing the statement of cash flows for his business. This statement will
provide him with all of the following information except
expenses during a particular accounting period.
Chocolate, a dinner at The French Laundry, and an overnight stay at the Ritz
Carlton all satisfy human needs. Therefore, each
possesses utility
To develop a ___, United Airlines may use executive judgments, surveys of
buyers or sales personnel time-series analyses, correlation analyses, and market
tests.
sales forecast
Kenny's Muffler Service will pay the mortgage off on its shop over a 20-year
period. The majority of this mortgage will be classified on Kenny's balance sheet
as a
long-term liability
___ occurs when expenses exceed revenues.
Net loss
, Large companies often have internal web pages, called ___ which allow
employees to access internal data and facilitate communication among
departments.
intranets
Which of the following would be accessory equipment for the finance department
of Jerry's Constriction?
Calculators
Adamaris sells used cars which he buys from rental agencies. The agencies
usually require part of the payment upfront or proof that payment will be made on
delivery. Because Adamaris has been in business for many years, and has used
the same bank for his business for the entire time he has been in business, he
works out an agreement with his banker that the bank will advance him funds for
a short term at prime interest rate plus one percent without collateral because he
has a good credit rating. What kind of transaction did Adamaris enter into with
the bank?
Unsecured bank loan
Alyssa and Ayonna are shoe shopping in The Forum Shops at Caesars Palace on
the Las Vegas Strip. Alyssa wants to purchase a pair of Jimmy Choo shoes
because, at $10,000, she is sure they are of much better quality than any of the
other designer shoes. Ayonna argues that they are just shoes and if worn often,
will wear out like any other shoes. Ayonna also says the shoes are highly over-
priced. When buyers equate the status, quality, and value of a luxury item with its
cost, what part of the pricing strategy is involved with setting prices of these
luxury items?
Pricing perceptions
_____ provide the bulk of the data provided for a management information
system.
Internal sources
A ___ is the complete and legal name of an organization such as Target Stores,
Incorporated
trade name
Darrell is trying to determine the base prices and kinds of discounts for the chairs
he sells at his furniture store. Darrell is concerned with the ___ element of the
marketing mix.
pricing
___ is one of the services provided by department stores.
Personal assistance
Wholesalers provide a wide variety of services to retailers. They provide all of the
following except
manufacturing a wide selection of products.
Most corporate bonds today are
registered bonds.
Michael works for an electrical contractor that wires new buildings for school
districts. Each contract with the school districts must be bid on by the
contractors and the bid price is normally based on the cost to fill the contract
plus profit. Michael works with the producers and wholesalers of electrical parts
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