Management & Leadership
What is the most effective way for a manager to communicate a policy change?
Staff Meeting
A rivalry between two or more businesses to attract customers is called what?
Competition.
Promotional activities are used to do what?
Introduce customers to products or services
What is the primary responsibility of the person making business purchases?
Buying needed goods and services.
Using telephone surveys to learn about what products consumers use at home is an example of what?
Market research.
What is the primary goal of management?
Accomplishing the business’s goals.
What happens to demand as the price of an item increases?
It decreases.
Which are included in the promotional mix?
Personal selling, advertising, direct marketing, sales promotion, and public relations.
What document records details about a shipment during the receiving process?
Delivery receipt.
Information about marketing trends, new products, and competitors’ activities is what type of data?
External marketing information.
Which management function involves assigning responsibility and directing work?
Organizing
What are goals that state what a marketer wants to achieve through pricing called?
Pricing objective
The distinctive identification symbol in an advertisement is called what?
A logo or signature.
What are the five artistic design steps in creating an effective display?
Select merchandise, select type of display, choose a setting, manipulate artistic elements, and evaluate the display.
Which technique expresses appreciation and builds customer loyalty?
Communicating with customers and showing gratitude.
Which situation indicates manager training is needed?
Changes in job function.
If a meal costs $7.85, what is a 20% tip?
$1.57.
What is the best source of referrals for a salesperson?
A satisfied customer.
What advantage does taking unit inventory offer?
It provides a detailed list of stocked items.
What is the best way for employees to explain business policies to customers?
Clearly and accurately, so customers understand company procedures.
What method requires a trainee to make quick decisions about hypothetical situations?
Role play situations.
If an item sells for $14.95 with a 20% discount, what is the employee price?
$11.96.
What are the four steps in training sales staff?
Explanation, demonstration, trial, and critique.
Asking employees for suggestions for a new product involves which step of product planning?
Idea generation.
What is one method for identifying potential customers?
Attending trade shows or networking to generate leads.