Customer Service
Which technique expresses appreciation and builds customer loyalty?
What is...
Communicating with customers
Most customers associate price with...
What is...
Quality
The president of a company has asked employees to make suggestions for a new product the
company could develop. This activity involves which step in the product-planning process.
What is...
Idea Generation
The purpose of government regulation of business monopolies is to:
What is...
Protect competition
Honda recently opened a plant in a town in hopes of building their vehicles cheaper. When Honda
began interviewing potential employees, they found there were few educated and trained employees in
the area. The limited number of potential employees compared to Honda’s need for trained and
educated employees is considered to be the economic problem of...
What is...
Scarcity
The best source of referrals is a/an:
What is...
Satisfied user of the product
As the price of an item increases, demand will...
What is...
Decrease
When Apple decided to improve features of the IPOD by developing a newer, more up-to-date version,
they conducted the marketing function known as __________.
What is...
Product Development
Which system allows businesses to compete actively in the marketplace
What is...
Capitalistic
Information about marketing trends, new products, competitors activities, and new technology are
examples of which type of marketing information?
What is...
External
Why must employees be able to explain business policies to customers?
What is...
The policies are not always evident to customers
Marketing has helped consumers by lowering ________ of goods through competition.
What is...
Prices
Which of the following economic utilities refers to the value added by changing the physical
characteristics of a product to make it more desirable
What is...
Form
New Zealand promotes private ownership of businesses where competition among business owners
drives prices. They are considered to be closer to which type of economic system?
What is...
Market
Which event causes a business to change its marketing strategies?
What is....
A store selling similar products opens down the
street
One method for identifying potential customers is to:
What is...
Attend trade shows
Which internal factors affect selling policies?
What is...
Customer wants and needs
In an economic system, the decision to sell products to middle class teenagers whose hobbies include
sports answers which economic choice?
What is...
For whom to produce?
Which increases gross domestic product?
What is...
Improving the use of resources
The marketing function of __________ is used when Mayfield Milk decides how many trucks to use to
transport its products in a timely manner to reduce product spoilage.
What is...
Logistics
A salesperson knows it takes seven days for a product to be delivered. In order to make the sale and
reach his sales quota, the salesperson promises delivery in two days. This is unethical because:
What is...
If an earlier shipment date is promised, the
product must be delivered on time
The four step process for training sales staff consists of:
What is...
Explanation, demonstration, action, and selling
The channel of distribution for a product, or path that a product takes to get from producer to
consumer, should be ______, ______ and ______ ______ in order for a company to move their
products effectively.
What is...
Fast, cost effective and controlled for quality
Hu Jintao, the dictator of China, makes the decisions which affect the jobs and living conditions of
people living in China. The economic system in China is closer to which economic system?
What is...
Command
Economics is the study of how a nation uses its resources. The resources, or factors of production, in
an economy include
What is...
Land, Labor, Capital and Entrepreneurship