1. The construction industry uses which of the following pricing methods? A. Target-return B. Perceived-value C. Cost-plus D. Markup
2. When problems are encountered with continuous improvement, how should problems be solved? A. To determine the most urgent need B. To find the root cause C. To find the person responsible D. To determine value and non-value activities
3. Priceline, a website where hotels post last-minute deals on available hotel rooms, is an example of ______ e-commerce. A. consumer-to-business B. consumer-to-exchange C. business-to consumer D. exchange-to consumer
4. Companies can increase sales revenues significantly with which of the following? A. Down-selling B. Lateral-selling C. Up-selling D. Cross-selling
5. Which of the following customers are the most valued to a business? A. Loyal B. Major C. Below-average D. Average
6. Which of the following reduces cost, improves quality, and decreases product development cycle time? A. Early involvement of suppliers in product design B. Co-sourcing suppliers C. Supplier reduction strategies D. Supplier certification methods
7. At which inventory level is operations management considered to be doing an excellent job? A. Below the minimum level B. Absolute maximum level C. Above the minimum level D. Absolute minimum level
8. Double electronic auction occurs between A. one seller and many buyers. B. one buyer and many sellers. C. one buyer and one seller. D. many buyers and many sellers.
9. Continuous improvements are made possible when the focus is on quality at the A. supplier 3 source. B. supplier 1 source. C. factory source. D. supplier 2 source.
10. A company needs to make a 20% profit on all products. What pricing method should it use to achieve its profit goal? A. Cost-plus B. Target-return C. Perceived-value D. Markup
11. Marketing management uses which of the following to find relationships between data and customers? A. Data warehouses B. Databases C. Data mining D. Data marts
12. When a retailer or car dealer says "we will meet or beat the competitor's prices," it refers to _______ pricing. A. skimming B. auction-type C. going-rate D. value-based
13. Companies can understand its customers better though A. sales contracts. B. market research. C. market basket analysis. D. pricing methods.
14. Which of the following types of inventory is used to support the production processes but isn't part of finished products? A. Finished goods B. Work-in-process C. Raw materials D. Maintenance, repair, and operating
15. Regarding product mix, channels are a part of A. product. B. price. C. place. D. promotion.
16. In capacity management, which of the following is a long-term plan to increase the capacity? A. Creating additional work shifts B. Building a new manufacturing factory C. Asking employees to work overtime D. Expanding an existing manufacturing factory
17. A company could incur excessive costs and lose money if they primarily focus on _______ customers. A. loyal and major B. loyal and average C. major and average D. average and below-average
18. Regarding multiple sourcing, which of the following is preferred? A. Many strong and committed suppliers B. Few strong, few weak, and unpredictable suppliers C. Many, weak, stable, and committed suppliers D. Few, strong, stable, and committed suppliers
19. Regarding selling methods, professional salespeople spend less time on A. presenting the product to a client. B. pre-approach and planning. C. identifying a client's needs. D. prospecting clients. End of exam
20. Which of the following customers pose a high risk if ignored? A. Loyal B. Major C. Below-average D. Average