Marketing Management
Which is the most effective method for a manager to communicate a policy change?
Staff Meeting
Most customers associate price with:
Quality
As the price of an item increases, demand will:
Decrease
The best source of referrals is a/an:
satisfied user of the product
The primary responsibility of the person making business purchases is:
Buying needed goods and services
Which instructional method requires a trainee to make quick decisions about a series of hypothetical situations?
Role play situtions
If an item sells for $14.95 and an employee receives a 20% discount, how much will the employee pay for them?
$11.96
A rivalry between two or more businesses to attract limited customer dollars is called a/an:
Competition
A salesperson uses probing to be a/an
Problem Solver
An advantage of taking unit inventory is that it:
increases the company's profit margin
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
Which pricing technique sets the prices of goods and services at lower prices to attract customers, then heavily advertises those goods and services?
Leader Pricing
Which is most likely to affect the price of roses?
A large number of rose bushes are killed by disease.
Which internal factors affect selling policies?
customer wants and needs
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
Why must employees be able to explain business policies to customers?
the policies are not always evident to customers
If a meal is $7.85, which is the amount of a 20% tip?
$1.57
Increasing a business's productivity has what positive effect?
it helps the business gain competitive advantage and increase profits.
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
if an earlier shipment date is promised, the product must be delivered on time.
What are the five artistic design steps that create an effective display and encourage repeat business?
Select merchandise, select type of display, choose a setting, manipulate artistic element, and evaluate completed display
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.
Idea generation
Identify the value of the variable in the following equation 4(x/2)=16
A business with well-planned buildings, effective employee training and careful selection of goods and services does what to its business risk?
Prevents or controls
The four step process for training sales staff consists of:
Explanation, demonstration, action, and selling.
Which form is attached to an invoice for a shipment of incoming goods and is used to record information about the shipment throughout the receiving process?
bill of lading