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When a business presents an item to the marketplace by emphasizing its economic value, the business is positioning the product on the basis of its
A. features
B. price
C. competitors
D. benefits
B. price
Which of the following sample designs is similar to “drawing names out of a hat”:
A. Simple random sampling
B. Systematic random sampling
C. Stratified random sampling
D. Cluster sampling
A. Simple random sampling
It is usually most effective for goals to be phrased in __________ terms.
A. complex
B. simple
C. general
D. specific
D. specific
Rent, salaries, and advertising are all examples of
A. fixed costs.
B. cost of goods sold.
C. variable costs.
D. operating expenses.
D. operating expenses.
To build collaborative relationships with coworkers, it is necessary for each person to
A. change their personal opinions.
B. be willing to share information.
C. possess the same skills and attitudes.
D. develop a competitive spirit.
B. be willing to share information.
Salespeople may risk losing a sale to a potential customer if they are unable to explain a business's __________ policies.
A. employee
B. operating
C. purchasing
D. selling
D. selling
Massimo's Corner Grocery sells a variety of fruits and vegetables to consumers within the community. Massimo's is considered a(n)
A. producer.
B. agent.
C. wholesaler.
D. retailer.
D. retailer.
Researchers are studying a company's past sales invoices as part of their current marketing research project. The sales invoices are examples of
A. units of analysis.
B. primary data.
C. secondary data.
D. relevant variables.
C. secondary data.
The owner of a business in a small town is considering moving to a nearby larger city but is concerned that current customers will not travel the additional 50 miles. What marketing element is involved in this situation?
A. Promotion
B. Place
C. Product
D. Price
B. Place
You are a marketing-research specialist for a company and have been asked to develop ideas for a new product that the company might produce. To compile age, income, and geographic information on possible customers, you should obtain
A. primary data from marketing-research companies.
B. primary data from industry organizations.
C. secondary data from government agencies.
D. secondary data from company sales records.
C. secondary data from government agencies.
What is wrong with a survey question that asks, “How would you rate our customer service and product quality?”
A. It asks respondents to assess two different topics at the same time.
B. It influences the respondent's answer by inserting an opinion.
C. It uses unfamiliar terminology that could confuse respondents.
D. It is an open-ended question that limits the respondent's answer.
A. It asks respondents to assess two different topics at the same time.
Jerry walks into his first job interview with his resume and job application. He is wearing jeans, a T-shirt, and a baseball cap. Jerry had the skills and background necessary for the job but did not get the job. Which of the following concepts should Jerry consider for his next interview:
A. Additional paperwork such as references and cover letters are required at job interviews.
B. Appearance is critical in the workplace.
C. Researching a workplace before the interview is crucial.
D. Personal appearance does not always reflect a person's attitude.
B. Appearance is critical in the workplace.
Naomi's company purchases property for the location of a new motorcycle dealership. A month later, she runs the numbers again and discovers it doesn't make financial sense to open a new store. She convinces herself that the new location will bring in plenty of money and that the company shouldn't worry. Naomi's decision- making is affected by
A. obedience to authority.
B. loss aversion.
C. incrementalism.
D. sunk costs.
D. sunk costs.
After a Korean auto manufacturer built a plant in Ames, Iowa, Kwan noticed a substantial growth of Korean residents in the area, many of whom were relocated to Ames to work for the plant. Kwan decided to import Korean goods and sell them in a small Korean specialty store near town. This is an example of a product opportunity resulting from
A. shifts in population ethnicity.
B. advancements in technology.
C. differences in priorities.
D. changes in travel habits.
A. shifts in population ethnicity.
Alyssa and Tyrone are working on a report together. They need to finish the report by Monday, but both of them will be out of town for the weekend. What tool would best help Alyssa and Tyrone finish their assignment on time without compromising teamwork?
A. A collaborative software application such as Google Docs
B. A single-user word-processing software such as Notepad
C. A multimedia presentation software application such as PowerPoint
D. A mathematical spreadsheet program such as Microsoft Excel
A. A collaborative software application such as Google Docs
Which of the following examples illustrates the use of the cause and effect method of formatting for structuring oral presentations:
A. We will discuss the basic steps used in developing effective time management techniques, and the first step is to prioritize all of your commitments.
B. Monet and Cezanne were both impressionist artists; however, their painting techniques and use of color differed greatly.
C. The use of toxic chemicals in the environment can result in the extinction of many species of waterfowl.
D. The public supports increased spending on national security, and a survey reports that over 70% of the citizens fear future terrorist attacks.
C. The use of toxic chemicals in the environment can result in the extinction of many species of waterfowl.
During what phase of a product's life cycle is a business most likely to develop advertising campaigns to remind customers about the product or promote features added to the product?
A. Obsolescence
B. Introduction
C. Maturity
D. Decline
C. Maturity
Von is a very thorough record keeper. He always carefully files his company's bills, receipts, and cancelled checks because he knows that the company has a responsibility to prove the expenses it lists on its tax return. Von's company bears a
A. tax return proof.
B. burden of proof.
C. responsibility to prove.
D. record burden.
B. burden of proof.
What is the primary goal of corporate promotion?
A. To sell a product
B. To publicize a service
C. To explain a specific feature
D. To create a certain image
D. To create a certain image
Which of the following factors helps determine if a manufacturer is illegally using closed sales territories for distribution purposes:
A. Limited risk
B. Reduced competition
C. Increased intensity
D. Perishable goods
B. Reduced competition
Kelly runs a small home bakery. To help her fulfill more orders, she hired three part-time employees. The additional workers increased her output, so she hired another three workers. To her surprise, Kelly's output actually decreased once she added the last three workers. This example best demonstrates the
A. harm of taking business risks.
B. law of diminishing returns.
C. danger of hiring employees.
D. need for effective employee training.
B. law of diminishing returns.
Which situation is an example of SUGGING?
A. A salesperson offers a customer the opportunity to try an expensive product free of charge.
B. A business promotes a product by sending samples to its customers without authorization.
C. A marketer tells a customer that they are conducting research, and then begins a sales pitch.
D. A telemarketer asks a customer if they know anyone who would want to buy a certain product.
C. A marketer tells a customer that they are conducting research, and then begins a sales pitch.
A trade association agrees to a set of standards and grades that will apply to products developed by its members. How will consumers of the products benefit from these standards?
A. Guarantee of the same price
B. Ease of comparison shopping
C. Assurance of buyers' satisfaction
D. Guarantee of product availability
B. Ease of comparison shopping
Strident Technologies recently released a new model of its popular desktop computer that functions using a brand new software system. Customers interested in purchasing the new computer will have to buy the new software, too. This is an example of
A. destructive advertising.
B. poor marketing.
C. product exposure.
D. planned obsolescence.
D. planned obsolescence.
When Rebecca's research for her school project is complete, she's not quite sure what to do with her data. Her friend Allison suggests coding the data, and she decides to give it a try. Why should Rebecca use coding to organize her research findings?
A. It is the only method to interpret data in a meaningful way.
B. It prevents data entry mistakes such as omissions or duplications.
C. It saves time by eliminating the need to check the data for flaws and errors.
D. It turns large amounts of data into a form that is more easily understood.
D. It turns large amounts of data into a form that is more easily understood.