Terms in this set (100)
What usually results when business operations and procedures are efficient and economical?
consumers can buy quality products at competitive prices
Which types of computer software programs usually contain thesaurus?
Which companies would principally be involved in industrial purchasing?
What is usually the last step in the buying process?
placing the order
A characteristic of the accrual method of accounting is that it...
records credit purchases when the purchases are made
How long are businesses required to keep their records?
The growth of e-commerce is changing the way companies do business by allowing them to...
be accessible to customers at all times
An upscale department store tracks customer purchases made with store credit cards and then tailors promotional messages and merchandise offers to specific clients based on their purchases. What software allows the retailer to manage this strategy?
A business that decides to enlarge its facility and hire additional employees is taking a... risk
Why do businesses with excessive debts often file chapter 7 bankruptcy?
In order to get the full meeting of what someone is saying, you need to listen carefully and to...
watch the speaker's body language
Employees should answer the telephone in a businesslike manner in order to...
project the image of the business
What is the most important component of the effective business letter?
An example of a type of simple written report used in marketing is the...report
One of the purposes of staff communication is for managers to provide...
employees with guidance and direction
In which situation might a business manager be violating the privacy of employees?
listens to telephone conversations
A large chain often transports shipments of goods from one location to the other by using its own...
For which markets would producers use a short channel of distribution?
A channel member that knowingly markets a defective product that is determined to be harmful to the environment and then denies responsibility for its actions is taking a(n)... approach to social and ethical responsibility
Calculate the amount due on an invoice for a cruise that costs $789 if the customer pays within 10 days and receives a 5% discount
How can purchasing agents or buyers benefit from an efficient receiving process?
they can find out what goods are on backorder and when they will be delivered
What shipping method would a business probably use to ship a small order to a customer in the next state?
Which of the following products would need to be protected from the weather during storage but would not need special care or services?
What type of channel conflict might occur if the manufacturer of a specific brand begins to allow retailers other than the authorized retailers to sell the brand name products?
Cash-register tapes and shipping forms used by a business would be classified as industrial?
Excess demand and excess supply cause changes in
The routine cost involved in running a business are referred to as
Which of the following is a standard used in measuring an individual worker's productivity?
GDP figures for the U.S. include the value of...
all production for which money is exchanged
The buying and selling of goods and services between nations is called...
A business that obtains financing in order to stock more inventory is often able to...
Mr. and Mrs. Smith are planning to purchase a new, 24 foot, camper trailer. What type of credit would be best for the Smith's if they now have half of the purchase price...
What is one way that businesses use marketing information?
to predict a change
Which function of a marketing-information management system involves changing the form of marketing information to make it more useful?
What is information about customers that businesses often monitor in order to make marketing decisions?
Sources of marketing data that are outside the business are called... information sources
What research method might a business use that is inexpensive, reaches a large number of people, and obtains information about its customers' needs?
How does marketing research help a business to implement that marketing concept?
by identifying consumers' wants and needs
What do businesses often do with the marketing information they collect from consumer questionnaires?
enter it into a computer for analysis
One of the reasons why a chain of supermarkets might analyse and interpret the marketing information contained in databases is to...
What are the primary advantages of using descriptive statistics?
it allows you to summarize data and make comparisons across units
Which of the following is an important reason why the finding of a business's marketing study should be effectively communicated to the business's managers?
to make the information useful
Which of the following is part of the promotional element of marketing?
Which of the following is an example of a consumer market?
music lover buying CDs
Which of the following would most likely indicate that an adjustment in a sales forecast is needed?
the anticipated economic recovery did not occur
Which of the following is a benefit to the business of effective human relations?
Employees who always keep their commitments to customers are building positive relationships with those customers by being...
When confused by things that they do not fully understand, assertive individuals are likely to...
ask questions to clarify their understanding
"I like this sofa, but I just don't know whether my family will like it," is a statement characteristic of a... customer
The first step in dealing with a customer who has a complaint is to...
let the customer explain the problem
What is a benefit of orienting new employees?
reduces anxiety about the job
What is a way that a business can use the money it saves by controlling expenses?
Why does being interested and enthusiastic help people to attract friends?
people prefer being with interested, enthusiastic people rather than with boring and indifferent people
Assuming that all people of a certain nationality will work long hours for low pay is an example of...
Organized people define their priorities in order to make sure that they...
get important jobs done first
Several employees are facing the possibility of being laid off from work. By concluding that they should look for new jobs before that happens, they are...
What would NOT be scheduled on a daily to-do list?
activities that must be done next month
What marketing career involves determining why customers do what they do?
Which of the following is a guideline to follow in writing a follow-up letter after a job interview?
be brief, concise, and prompt
Manuel is preparing his job resume, but he has never held a paying job. He has only worked for his father and done some volunteer work in the community. What should Manuel do about the work-experience section of his job resume?
he should list his family job and his volunteer work
What should employees in today's changing world do to prevent their skills from becoming obsolete?
continue their education
A group of people in the same industry or geographic area who join forces to search for solution to common problems is called...
a trade association
What is an example of price in the financial services industry?
interest on a loan
Charging premium prices for lumber to hurricane victims because supply is limited is...
unethical and legal
Businesses that come under government control often set a target return of profit because they...
may be investigated if they earn high profits
At which stage of a product's life cycle does commercialization occur?
One of the ways in which a business can revive a product that is in the decline stage of the product life cycle is to... the product
Any business that transports goods across state lines must comply with standards set by...
Colson Furniture Store advertised deluxe video stand and bookcase in the weekend newspaper. However, the ad did not mention "limited quantities or assembly required." What government agency might charge the business with misleading advertising?
federal trade commission
A specialty business whose target market is the career woman with expensive taste would have a product mix with... assortment
narrow variety, deep
Businesses benefit from repeat sales to consumers who have brand...
In the communication process, why is it important for the sender to effectively encode the message to be sent?
to ensure that the receiver will understand it
The promotion of baseball-nut ice cream during baseball season would be classified as... promotion
What is NOT a form of promotion?
What is an example of socially responsible promotion?
supporting worthwhile causes
What type of promotional media might a business use to target a specific audience of customers at home?
What is bad advice for someone writing advertising copy?
disregard competitors' advertisements
One of the advantages of using databases in advertising is that it allows businesses to...
What often triggers an advertiser's' banner ad to appear on a search engine's web page?
Most news releases are written in an "inverted pyramid" style which means that...
all the vital information is presented first
What promotional activities should be coordinated with a business's advertising?
Customers are more likely to trust businesses and products when the salesperson is...
WHo should take full responsibility for any misunderstandings that are part of a sales transaction?
Which consumer regulation would protect a customer who purchased a product from a door-to-door salesperson and wished to return two days later?
state cooling-off laws
According to the Uniform Commercial Code, contract sales transactions above what amount are required to be in writing?
Who would be most likely to make an informative presentation to employees about the specific features and benefits of a new line of products they will be selling?
the firm's buyer
One factor leading to differences in the ways salespeople use the selling process is the...
nature of the product
Katherine is very interested in fashion and always buys the newest styles, regardless of the price. Which of the following personality types is Katherin demonstrating?
Identify the factor affecting needs and wants in the following situation: For his birthday, Jonathan wanted a tricycle, coloring books, and toy soldiers
Jonathan's age level
Which of the following is an example assisting customers in making buying decisions?
demonstrating product knowledge
Which of the following is a customer benefit of the salesperson's use of probing?
it reduces product dissatisfaction
Most businesses have times when stock of a particular item is in short supply. If this occurs, the salesperson should utilize...
A salesperson explains to the business that the energy saver cycle on the new furnace will save 30% on the utility bill in a one-year period. This is an example of...
The salesperson should pause before answering a customer's objections in order to...
get the customer's full attention
The salesperson who is of the most benefit to the customer and to the business is the one who knows how to use...
Determine whether the following statement is true or false: Follow-up should only be used when a sale has been completed
false, follow-up should be used even if no sale is made
Many businesses train employees to use sales tax charts to calculate sales tax on customers' purchases because the charts...
make tax calculation easy
A product's style, reorder, or catalog number is recorded in what part of the sales check?
Salespeople who are prospecting can often obtain lists of the current and past customers, credit records, and product inquiries from
their own companies
many businesses try to increase sales by using sales quotas as a(n)
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