Contents

Thursday, August 1, 2019

Marketing Q&A

________ are three basic designs used in quantitative research.
Metaphor analysis, survey, and observation
Observation, experimentation, and survey
Survey, interviews, and experimentation
Interviews, focus groups, and metaphor analysis
Focus groups, observation, and survey

________ can simply be described as "How we see the world around us."
Attitude
Knowledge
Understanding
Motivation
Perception

According to Maslow's hierarchy of needs, protection, order, and stability are examples of ________.
social needs
physiological needs
safety and security needs
self-actualization needs
egoistic needs

As sensory input ________, our ability to detect changes in input or intensity ________.
increases; increases
decreases; remains constant
increases; remains constant
decreases; increases
remains constant; decreases

Barry wants a sandwich for lunch. Tom wants a turkey sandwich with lettuce, tomato, and mayonnaise from Subway. Barry has a(n) ________, whereas Tom has a(n) ________.
product-specific goal; objective goal
product-specific goal; generic goal
subjective goal; generic goal
objective goal; subjective goal
generic goal; product-specific goal

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________.
customer satisfaction
the corporate vision
the market targeting
market segmentation
the value proposition

During a depth interview, which of the following is NOT part of the interviewer's strategy?
Probe the respondent and encourage him/her to talk freely about the product category and/or brand under study.
Establish an atmosphere that encourages the consumer respondent to relax and open up to provide valuable insights.
Give the consumer an opportunity to respond to specific verbal and visual materials.
Provide as much time as possible for the consumer to express his or her thoughts and behaviors.
Talk as much as possible to ensure the consumer gives the answers s/he wants.

Egoistic needs can take either an inward or an outward orientation, or both. Outwardly directed ego needs reflect an individual's need for ________.
self-esteem
personal satisfaction with a job well done
reputation
independence
self-acceptance

In 2009, the Axe brand launched a line of hair care products to complement its existing assortment of body washes and deodorants, hoping to leverage the Axe brand equity to expand into a new category of men's personal care products. This is an example of a manufacturer taking advantage of ________.
perceptual defense
the halo effect
the persistence of first impressions
perceptual blocking
physical appearances

In a ________, 8 to 10 participants are encouraged to discuss their reactions to product and service concepts, or new advertising or marketing communications campaigns.
survey
controlled experiment
depth interview
metaphor analysis
focus group

In product placement scenarios, marketers place an advertised product into a TV show or film by having it used by the cast, integrated into the plot, or associated with a character. In product placements, the product is considered the ________ and the show is the ________.
entertainment; brand
ground; figure
ground; perceptual organization
perceptual block; perceptual organization
figure; ground

Jill gets good grades because her parents will punish her if she doesn't receive at least a 3.5 GPA. Julia gets good grades because she likes the sense of accomplishment she feels when she gets a straight-A report card. Jill's goal is referred to as a(n) ________, whereas Julia's goal is referred to as a(n) ________.
positive object; negative object
approach object; avoidance object
physical object; psychological object
avoidance object; defensive object
avoidance object; approach object

Motivation is produced by a state of tension, which exists as the result of ________.
unrealized desires
environmental forces
peer pressure
unfulfilled needs
satisfied desires

Needs and goals are ________; neither exists without the other.
interactive
mutually exclusive
autonomous
interdependent
independent

Needs that we learn in response to our parents, social environment, and interactions with the environment are called ________ needs.
biogenic
primary
psychological
innate
acculturated

On a questionnaire, a(n) ________ question is one where the respondent merely checks the appropriate answer from a list of options.
undisguised
disguised
closed-ended
exploratory
open-ended

Packaging and warranties are elements of which of the four Ps?
price
place
promotion
product
people

Sigmund Freud's psychoanalytic theory of personality is built on the premise that ________ are at the heart of human motivations and personality.
efforts to avoid anxiety
social relationships
unconscious needs or drives
efforts to overcome inferiority
conscious decision-making processes

Some TV ads change sensory input by using silence or louder sounds in their ads to generate attention. This is a form of advertising used in order to overcome ________.
sensation
preference for competitive advertisements
the just noticeable difference
sensory adaptation
perceptual blocking

The emphasis in the definition of personality is on inner characteristics, which are ________.
those characteristics of an individual that are not readily apparent to others
those characteristics that make one individual similar to others
those characteristics that distinguish one individual from others
those characteristics that constitute the individual's ideal self-image
those characteristics which individuals try to hide from others

The image and unique identity of a product, service or brand in consumers' minds is called its ________.
perception
target
position
imposition
segment

To simplify life, people have a natural tendency to select stimuli from the environment and organize them into groups and perceive them as a unified whole. In a perception context, this is known as ________.
perceptual mapping
closure
grouping
perceptual blocking
figure-ground

Two people driving together may spot a billboard at different times. This means they have different ________.
absolute thresholds
adaptation levels
differential thresholds
just noticeable differences
sensory adaptations

Using sexual imagery to sell a product primarily appeals to Freud's conceptualization of the ________.
ego
self-image
super-id
id
superego

When stimuli are highly ambiguous, an individual will usually ________.
interpret them according to one's own needs, wishes, and interests
consult others as to their meaning
block them out
take extra time to understand the intentions of the source
ignore them

Which of the following is considered an example of consumer behavior?
Jessica prefers to buy her produce from the farmer's market instead of the grocery store.
Javier generally gets gas on Monday mornings on his way to work.
Jeremy generally recycles his old newspapers and cardboard boxes.
Janice prefers to buy name-brand pain relievers like Tylenol and Advil, rather than the store brand.
All of the above are examples of consumer behavior.

Which of the following is most likely to be used to gather descriptive and numerical information?
complaint analysis
qualitative research
quantitative research
motivational research
controlled statistics

Which of the following is NOT true about the effect of expectations and motives on perceptions?
People tend to perceive the things they need or want.
Irrelevant sexuality can distract from the ad's main message.
There is decreased awareness of stimuli that are irrelevant to a consumer's needs.
Stimuli that conflict sharply with expectations often receive less attention than those that conform to expectations.
People see what they expect to see based on familiarity, previous experience, and expectations.

Which of the following is true of JND?
There is no JND for decreased product volume sold in existing packaging.
Making drastic changes to a company's logo to an extent well beyond consumers' JND allows companies to update their image without losing their ready recognition.
Increasing prices below consumers' JND is likely to go unnoticed by consumers.
Making product improvements that far exceed consumers' JND is likely to maximize company revenues.
Decreasing prices below consumers' JND is likely to cause a significant rise in sales.

Which of the following is true of the relationship between consumers' perceptions and their expectations?
Ads with irrelevant sexuality generally lead to better recall of the product advertised due to the attention-getting nature of the sexual content.
What consumers expect to see is completely dependent on their objective, first-hand experience with the particular product or advertising medium.
Individual motivation does not affect perception.
People tend to make observations and arrive at conclusions completely independent of their expectations.
Consumers tend to perceive products and product attributes according to their own expectations.

Tuesday, July 9, 2019

Connect - another Financial Accounting, Chapter 9


1.
Dextra Computing sells merchandise for $18,000 cash on September 30 (cost of merchandise is $10,800). The sales tax law requires Dextra to collect 2% sales tax on every dollar of merchandise sold. Record the entry for the $18,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 2% tax on this sale to the state government on October 15.
NoDateGeneral JournalDebitCredit
1Sep 3018,360selected answer correctnot attempted
not attempted18,000selected answer correct
not attempted360selected answer correct
2Sep 3010,800selected answer correctnot attempted
not attempted10,800selected answer correct
3Oct 15360selected answer correctnot attempted
not attempted360selected answer correct

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2.
Ticketsales, Inc., receives $4,920,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales. Ticketsales, Inc. initially records prepaid and unearned items in balance sheet accounts.
NoDateGeneral JournalDebitCredit
1Oct 314,920,000selected answer correctnot attempted
not attempted4,920,000selected answer correct
2Nov 051,230,000selected answer correctnot attempted
not attempted1,230,000selected answer correct

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3.
On November 7, 2017, Mura Company borrows $190,000 cash by signing a 90-day, 12% note payable with a face value of $190,000. (Use 360 days a year. Do not round your intermediate calculations.)

1.
 Compute the accrued interest payable on December 31, 2017.
Principalx Rate (%)x Time    = Interest
Total through maturity190,000selected answer correct12selected answer correct%5,700selected answer correct
Year end interest accrual190,000selected answer correct12selected answer correct%3,420selected answer correct
Interest recognized February 5190,000selected answer correct12selected answer correct%2,280selected answer correct

2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2017 and payment of the note at maturity.
NoDateGeneral JournalDebitCredit
1Dec 31, 20173,420selected answer correctnot attempted
not attempted3,420selected answer correct
2Feb 05, 2018190,000selected answer correctnot attempted
3,420selected answer correctnot attempted
2,280selected answer correctnot attempted
not attempted195,700selected answer correct

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4.
Merger Co. has 10 employees, each of whom earns $1,850 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee.
 
Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.)
NoDateGeneral JournalDebitCredit
1Mar 312,525.25selected answer correctnot attempted
not attempted1,147.00selected answer correct
not attempted268.25selected answer correct
not attempted111.00selected answer correct
not attempted999.00selected answer correct

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5.
Noura Company offers an annual bonus to employees if the company meets certain net income goals. Prepare the journal entry to record a $16,000 bonus owed to its workers (to be shared equally) at calendar year-end.
NoDateGeneral JournalDebitCredit
1Dec 3116,000selected answer correctnot attempted
not attempted16,000selected answer correct

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6.
On September 11, 2016, Home Store sells a mower for $420 with a one-year warranty that covers parts. Warranty expense is estimated at 6% of sales. On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $29 in materials taken from the Repair Parts Inventory.
 
Prepare the September 11, 2016, entry to record the mower sale, and the July 24, 2017, entry to record the warranty repairs. (Round your answers to 2 decimal places.)
NoDateGeneral JournalDebitCredit
1Sep 11, 2016420.00selected answer correctnot attempted
not attempted420.00selected answer correct
2Sep 11, 201625.20selected answer correctnot attempted
not attempted25.20selected answer correct
3Jul 24, 201729.00selected answer correctnot attempted
not attempted29.00selected answer correct

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7.
The payroll records of Speedy Software show the following information about Marsha Gottschalk, an employee, for the weekly pay period ending September 30, 2017. Gottschalk is single and claims one allowance. Compute her Social Security tax (6.2%), Medicare tax (1.45%), federal income tax withholding, state income tax (1.0%), and net pay for the current pay period. (Use the withholding table in Exhibit 11A.6) (Round your final answers to 2 decimal places.)

   
Total (gross) earnings for current pay period$670
Cumulative earnings of previous pay periods$8,710

Gross pay670.00selected answer correct
Social security tax deduction41.54selected answer correct
Medicare tax deduction9.72selected answer correct
Federal income tax deduction78.00selected answer correct
State income tax deduction6.70selected answer correct
Total deductions135.95
Net pay$534.05

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8.
Keesha Co. borrows $170,000 cash on November 1, 2017, by signing a 90-day, 12% note with a face value of $170,000.
 
1. On what date does this note mature? (Assume that February has 28 days)
2. & 3. What is the amount of interest expense in 2017 and 2018 from this note? (Use 360 days a year. Round final answers to the nearest whole dollar.)
4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest at the end of 2017, and (c) payment of the note at maturity. (Assume no reversing entries are made.) (Use 360 days a year. Do not round intermediate calculations.)
NoTransactionGeneral JournalDebitCredit
1(a)170,000selected answer correctnot attempted
not attempted170,000selected answer correct
2(b)3,400selected answer correctnot attempted
not attempted3,400selected answer correct
3(c)1,700selected answer correctnot attempted
3,400selected answer correctnot attempted
170,000selected answer correctnot attempted
not attempted175,100selected answer correct

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9.
Lenny Florita, an unmarried employee, works 52 hours in the week ended January 12. His pay rate is $12 per hour, and his wages are subject to no deductions other than FICA Social Security, FICA Medicare, and federal income taxes. He claims three withholding allowances. Compute his regular pay, overtime pay (for this company, workers earn 150% of their regular rate for hours in excess of 40 per week), and gross pay. Then compute his FICA tax deduction (use 6.2% for the Social Security portion and 1.45% for the Medicare portion), income tax deduction (use the wage bracket withholding table from Exhibit 11A.6.), total deductions, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.)
HoursHourly Rate
Regular pay40selected answer correct12.00selected answer correct$480.00
Overtime pay12selected answer correct18.00selected answer correct216.00
Gross pay696.00
FICA - Social Security tax deduction43.15selected answer correct
FICA - Medicare tax deduction10.09selected answer correct
Income tax deduction62.00selected answer correct
Total deductions115.24
Net pay580.76selected answer correct