managers
Which is the most effective method for a manager to communicate a policy change?
staff meeting
MERCH: Calculate inventory shrinkage given the following physical and perpetual inventory
information: Physical Inventory as of January 1 - $3,000; Purchases, January - March - $7,500; Sales
January - March - $6,500; Markdowns, January - March - $200; Physical inventory as of March 31 -
$3,400
400
Using telephone surveys to learn about products used in a consumer’s household is an example of:
market research
MM: The way employees treat customers affects the businesses'
image
Goals that state what a marketer wants to achieve through pricing are called:
pricing objective
A manager instructs his employees to get a new, heavy-duty cord for the display lights instead of using
the worn-out one. The manager is implementing
loss prevention
In an economic system, the decision to sell products to middle class teenagers whose hobbies include
sports answers which economic choice?
what to produce
Which event causes a business to change its marketing strategies?
a store selling similar products opens down the street
Most customers associate price with:
quality
What happens to price when there is a surplus of a good or service?
Which discourages employees from communicating dissatisfaction to management?
hostile work enviornment
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?
market
A rivalry between two or more businesses to attract limited customer dollars is called a/an:
competition
Which technique expresses appreciation and builds customer loyalty?
communicating with customers
P: If a meal is $7.85, which is the amount of a 20% tip?
1.57
what Is the primary goal of management
accomplishing the businesses goal
Haiti’s economy is based mainly on agricultural products such as coffee. This is considered which type
of economic system?
traditional
Increasing a business's productivity has what positive effect?
it helps the business gain competitive
advantage and increase profits
One method for identifying potential customers is to:
attend trade shows
If an item sells for $14.95 and an employee receives a 20% discount, how much will the employee
pay for them?
11.96
Which situation indicates manager training is needed?
changes in job function
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 ________
scarcity
Print advertisements usually contain a headline, copy, an illustration, and a:
signature
Why must employees be able to explain business policies to customers?
the policies are not always evident to customers
Annie has decided to mark up the cost of the newest bathing suit line she just ordered for her boutique
by 50%. This is an example of the __________ marketing function
pricing