WGU C201 BUSINESS ACUMEN 2024 UPDATE
COMPREHENSIVE QUESTIONS AND VERIFIED
ANSWERS OBJECTIVE ASSESSMENT 2 GRADE A+
Which marketing strategy is devoted to maintaining continuous bottom line
prices 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 essential to building an effective relationship marketing
campaign?
An affinity program
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
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 sits. Which type of competitive
advantage is this company leveraging?
Customer loyalty
What three factors should be addressed in a successful marketing plan? Choose
3 answers.
Target Market, Sales revenue goals, Plan implementation timeline (not on list,
marketing budget)
Which three characteristics are measured in demographic segmentation? Choose
3 answers
Race and ethnicity, Income, Household size
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 number of direct reports per manager
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 established a direct flow of authority
Number the seven steps in the recruiting and interviewing process from first to
last.
,1) Define job requirements, 2) Contact and visit colleges for applicants/interns, 3)
Conduct employment tests, 4) Review resumes, 5) Conduct candidate interviews, 6)
Follow up interviews, 7) Hiring determination
Which primary driver does management use for an organization's structure?
Achievement of company goals
Which step in the organizing process results in management group work
activities into units within the organization?
Departmentalization
In which three ways does business-buying behavior differ from consumer-buying
behavior? Choose 3 answers
Buyers face organizational influences in addition to their own preferences, purchasers
often invite selected providers to bid on a purchase, a group or committee often makes
decisions
Which three conditions, in a global selling environment, should a small company
leverage to create a competitive advantage? Choose 3 answers
cultural homogeneity, mobility of labor, local labor costs
With which two types of products does a marketing strategy rely on advertising
more than personal selling? Choose 2 answers.
Consumable supplies, accessories to primary products
After years of marketing a body lotion, a cosmetics company begins promoting
the lotion as an the lotion as an insect repellent as well. In which three product
life cycle extension strategies did this company engage? Choose 3 answers
Adding new users, finding new uses for the product, increasing frequency of use.
What are three ways that an effective brand name can influence consumer
product recognition? Choose 3 answers
It conveys an image, it depicts trademark protection, it reflects brand equity.
A customer has purchased a product twice and intends to do so again. Which
stage of brand loyalty is this customer in?
Brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking
capabilities of a global package delivery service?
retail
Which three tasks are key responsibilities of operations managers? Choose 3
answers
Planning the overall production process, implementing the production plan, determine
the best layout for the firm's facilities.
Which two characteristics does a Just-In-Time (JIT) System have? Choose 2
answers
A JIT system seeks to eliminate anything that does not add value in operations
activities, production using JIT reduces a firm's inventory costs.
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? Choose 2 answers
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 microeconomics system? Choose 2
answers
Customer preference, price of substitute goods
How does a sudden shortage of a commodity product affect the immediate
demand for the product at its current price?
There is no immediate effect on demand
Which two impacts result from a nation's increase in productivity? Choose 2
answers
Economy expands, Personal wealth increases
For which two purposes will the U.S Federal Reserve System follow an
expansionary monetary policy? Choose 2 answers
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? Choose 2 answers
An increase in overall cost of debt to private borrowers, an increase of funds for public
services
What is one role of a financial manage?
Analyzing major investment decisoins
Which two activities are finance activities rather than accounting activities?
Choose 2 answers
Making capital market investments, creating a financial plan
Which three sources should a business consider when seeking a long-term
source? Choose 3 answers
Hedge funds, Venture capital, public sale of stocks
In which type of security should a business invest its excess cash in anticipation
of paying off the current year's tax liability?
Commercial paper
Which role does the underwriter play in financing business operations when
using the capital market to sell securities to the public?
It insures the value of the security to the investor
Why should a manager use financial controls in a firm's financial plan?
to determine the accuracy of forecasted revenues, costs, and expenses
What does a CFO use in financial planning to determine the expected level of
revenue for future periods?
Sales forecast plus non-sales revenue
How did the Dodd-Frank Wall Street Reform and Consumer Protection Act impact
retailers?
capped the debit card fee at 21 cents
COMPREHENSIVE QUESTIONS AND VERIFIED
ANSWERS OBJECTIVE ASSESSMENT 2 GRADE A+
Which marketing strategy is devoted to maintaining continuous bottom line
prices 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 essential to building an effective relationship marketing
campaign?
An affinity program
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
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 sits. Which type of competitive
advantage is this company leveraging?
Customer loyalty
What three factors should be addressed in a successful marketing plan? Choose
3 answers.
Target Market, Sales revenue goals, Plan implementation timeline (not on list,
marketing budget)
Which three characteristics are measured in demographic segmentation? Choose
3 answers
Race and ethnicity, Income, Household size
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 number of direct reports per manager
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 established a direct flow of authority
Number the seven steps in the recruiting and interviewing process from first to
last.
,1) Define job requirements, 2) Contact and visit colleges for applicants/interns, 3)
Conduct employment tests, 4) Review resumes, 5) Conduct candidate interviews, 6)
Follow up interviews, 7) Hiring determination
Which primary driver does management use for an organization's structure?
Achievement of company goals
Which step in the organizing process results in management group work
activities into units within the organization?
Departmentalization
In which three ways does business-buying behavior differ from consumer-buying
behavior? Choose 3 answers
Buyers face organizational influences in addition to their own preferences, purchasers
often invite selected providers to bid on a purchase, a group or committee often makes
decisions
Which three conditions, in a global selling environment, should a small company
leverage to create a competitive advantage? Choose 3 answers
cultural homogeneity, mobility of labor, local labor costs
With which two types of products does a marketing strategy rely on advertising
more than personal selling? Choose 2 answers.
Consumable supplies, accessories to primary products
After years of marketing a body lotion, a cosmetics company begins promoting
the lotion as an the lotion as an insect repellent as well. In which three product
life cycle extension strategies did this company engage? Choose 3 answers
Adding new users, finding new uses for the product, increasing frequency of use.
What are three ways that an effective brand name can influence consumer
product recognition? Choose 3 answers
It conveys an image, it depicts trademark protection, it reflects brand equity.
A customer has purchased a product twice and intends to do so again. Which
stage of brand loyalty is this customer in?
Brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking
capabilities of a global package delivery service?
retail
Which three tasks are key responsibilities of operations managers? Choose 3
answers
Planning the overall production process, implementing the production plan, determine
the best layout for the firm's facilities.
Which two characteristics does a Just-In-Time (JIT) System have? Choose 2
answers
A JIT system seeks to eliminate anything that does not add value in operations
activities, production using JIT reduces a firm's inventory costs.
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? Choose 2 answers
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 microeconomics system? Choose 2
answers
Customer preference, price of substitute goods
How does a sudden shortage of a commodity product affect the immediate
demand for the product at its current price?
There is no immediate effect on demand
Which two impacts result from a nation's increase in productivity? Choose 2
answers
Economy expands, Personal wealth increases
For which two purposes will the U.S Federal Reserve System follow an
expansionary monetary policy? Choose 2 answers
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? Choose 2 answers
An increase in overall cost of debt to private borrowers, an increase of funds for public
services
What is one role of a financial manage?
Analyzing major investment decisoins
Which two activities are finance activities rather than accounting activities?
Choose 2 answers
Making capital market investments, creating a financial plan
Which three sources should a business consider when seeking a long-term
source? Choose 3 answers
Hedge funds, Venture capital, public sale of stocks
In which type of security should a business invest its excess cash in anticipation
of paying off the current year's tax liability?
Commercial paper
Which role does the underwriter play in financing business operations when
using the capital market to sell securities to the public?
It insures the value of the security to the investor
Why should a manager use financial controls in a firm's financial plan?
to determine the accuracy of forecasted revenues, costs, and expenses
What does a CFO use in financial planning to determine the expected level of
revenue for future periods?
Sales forecast plus non-sales revenue
How did the Dodd-Frank Wall Street Reform and Consumer Protection Act impact
retailers?
capped the debit card fee at 21 cents
