BUS 100 Test #3 Review

Sections 1 and 2, Fall 2011 Last updated December 7, 2011

Your third and final examination is scheduled as follows:

Section 1 (class that normally meets at 3:30 PM): testing at 4:10-6:10 PM, December 15

Section 2 (class that normally meets at 11:00 AM): testing at 9:40-11:40 AM, December 13

Please bring a pencil and the correct answers (in your head). I recommend that you start preparing immediately. The study questions below represent the topics that will be emphasized on the test. Historically, people that have done well on my examinations prepared lengthy answers to the study questions using both the class notes and course text information. We will discuss these questions in more detail during the review session on December 8. I reserve the right to change, add, or delete questions to this study guide no later than during the December 8 review session.

Chapter 9: Marketing

1. What is a marketing mix?

2. How can businesses define a target audience?

3. Why is a strong brand important for a business?

4. What benefits do intermediaries provide? How long should a distribution channel be? How intensive should distribution be?

5. How does the product life cycle help companies to manage their products? How can businesses extend the product life cycle for their products?

Chapter 10: New Product Development

1. What are the steps in the new product development process?

2. What types of innovation exist in product development?

3. Where do new ideas come from?

Chapter 11: Operations Management

1. How are operations and materials management different? How can they be used to create a competitive advantage for a company?

2. Explain the three types of operating systems and give a strength and weakness of each.

3. What is TQM?

4. How do Gantt and PERT charts help with business operations?

Chapter 12: Accounting

1. Describe the primary tasks of accounting.

2. Why are generally accepted accounting principles needed?

3. What are the three main sections of a company’s balance sheet? How are these sections related to the accounting equation?

4. What is asset liquidity?

5. What does an income statement measure? What are the main components of the income statement?

Questions and Comments to: drmartin@hawaii.edu

This document was last modified December 7, 2011