MBA Midterm Exam Questions with All Correct Answers
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Course
MBA
Institution
MBA
MBA Midterm Exam Questions with All Correct Answers
What is the purpose of networking with other businesses? - Answer- To create a supportive system of sharing information and resources with businesses who have similargoals, interests, and clients
In general, what is a business's most valuab...
MBA Midterm Exam Questions with
All Correct Answers
What is the purpose of networking with other businesses? - Answer- To create a
supportive system of sharing information and resources with businesses who have
similargoals, interests, and clients
In general, what is a business's most valuable resource? - Answer- Employees
Maria has started a lawn care service about a year ago. She did good work and her
customers spread the word. Sales are increasing quickly! What stage of the product life
cycle is described in this example? - Answer- Growth
You are about to start a meeting with your team to announce the winner of the
employee of the quarter award when you find out your company is being bought out.
What should you do? - Answer- Begin with the planned award announcement and then
remind your team not to spread any rumors.
A prepaid expense is: - Answer- An asset
As a buyer, which market structure would be worst for you? - Answer- Monopoly
You manage a department with many employees. Which is something you should NOT
consider when forced to do layoffs? - Answer- Amount of paperwork required
What does total revenue minus total expenses indicate? - Answer- The profit or loss
made by the business.
In which phase of a product design does manufacturing check tooling and engineering
to refine designrelated issues? - Answer- Modeling and prototyping
The Law of Demand states that, all other factors being equal, as the product price
increases the quantity of the product sought by buyers __________. - Answer-
decreases
Your boss has asked you to pick up one of the employees traveling in from New Delhi,
India at the airport. How should you greet her to show your appreciation for her culture?
- Answer- Use the namaste
Which direction does the demand curve slope? - Answer- down
, What is promotion? - Answer- Any form of communication that a business uses to
inform, persuade, or remind potential customers about their products
Why would you add borders to cells? - Answer- To group the cells
What are good methods for collecting feedback from customers? - Answer- Comment
card available at the business
A feedback page on the business's website
An on-line survey
A member of your team comes into your office upset that she may be losing her job in a
buyout. You are leaving for a meeting with your boss. What should you do? - Answer-
Encourage her to come in and listen carefully to her concerns.
What is the driving force in the U.S. economy? - Answer- entrepreneurship
What is the focus on Relationship Era marketing? - Answer- Long-term connection to
customer
Which economic system is the most predictable to members of its society? - Answer-
Traditional
How many operators are in the following formula? =B14+AVERAGE(E1:E50)-D3/D6 -
Answer- 3
Which of these terms refer to the visual part of a product's identity? - Answer- brand
mark
What is the term that refers to adding value to a product by making it more useful? -
Answer- Economic utility
Which of these statements about the impacts of marketing is TRUE? - Answer- Virtually
all of the goods and services you use are marketed.
Marketing impacts our daily lives, our society, and even the environment.
The impacts of marketing can be both positive and negative.
An example of evaluating and controlling would be - Answer- inspecting products to
ensure quality
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