Buying and merchandising deca

A business's sales budget estimates $865,500 in sales for the coming year. If the business pays each of its three salespeople a base salary of $45,000 and each of them a 2% commission on total sales, how much should it budget for their compensation

$186,930

A cashier open the register with one roll of quarters, two rolls of dimes, one roll of nickels, and one roll of pennies. What is the total amount of change in the drawer?

$22.50

I'd bet annual sales are $500,000 and the average monthly inventory at retail is $50,000, the rate of stock turnover by the retail method is _______ stock turns per year.

10

An online cookware store sold 750 sets of carving knives last year and is on track to sell 900 sets this year. How many sets of carving knives should they buy to sell next year if ur expects another 20% increase in sales?

1080

Calculate the stock turnover rate if a store keeps an average of 687 packages of AA batteries in stock and sells 6,183 packages of AA batteries a year

9

Which of the following is an example of a special order

A costumer requests a tote bag with a monogram embroidered on it

Lindsey tells her salesperson, Pablo, that San might be interested in purchasing products from him. This is an example of salesperson receiving

A referral

Focusing on its products superior attributes is a way that a business positions the product ____ the market leader

Above

Which of the following is part of the promotional element in marketing

Advertising

Operations managers must work closely with managers and employees in

All other parts of the business

Which of the following is a situation that involves the illegal use of copyrighted material

An online business allows its costumers to download and share music without the recording artists consent

A company trade you for five days on how to run a high speed printing press. Now you were working by yourself, but you have forgotten a step in the process although the machine seems to be operating correctly. What should you do?

Ask for help

Which of the following is an example of a good listening skill?

Asking appropriate questions

When marketing researchers code the various responses on a questionnaire, they are __________ to each answer.

Assigning a numeric value

Which of the following is the type of organization that a person can contact to verify that his/her credit history report is accurate

Authorized credit bureau

A display designer who creates A display featuring a different number of items on each half of the display is using which principle of design?

Balance

A business that deliberately provides complex information about its products that most costumers will be unable to understand is

Behaving unethically

Technological advancements have made it possible for a business to use promotional activities to target specific markets so the business can

Build close and ongoing costumer relationships

What is one way that an efficient receiving process can help an auto-parts store to control marking expenses?

By ordering premarked goods

Which of the following are not likely to offer product information to salespersons:

Competitors

Henderson so company introduce a liquid soap containing a new chemical that cause many of the customers who tried to soap to develop skin rashes and irritations. The government intervened and required the company to recall the product until further study could be made. This type of business and government activity is called

Consumer protection

Because people buy benefits rather than features, product planning should be approached from the ______ point of view

Consumers

The form of business organization that limits the losses or the risks of the owners is a

Corporation

A long rang benefit that a business may derive from promoting its company image is

Costumer loyalty

A salespersons explaining that a product is inexpensive to operate and lasts a long time is an example of the _____ approach

Costumer-benefit

Legal considerations for finance often involve a business's use of

Credit

Which is one of the functions of certain types of public relations activities

Damage control

The salesperson who sells goods and services by visiting costumers in their homes is using the ____ selling method

Direct

Shelley has a $25 gift certificate and is having difficulty making a choice between a sweater and a pair of earrings. If she chooses the sweater, what is the opportunity cost of this decision?

Earrings

When you indicate to others who have suffered some kind of serious loss that you know how they feel you are demonstrating

Empathy

Becoming more orderly and systematic can cause you to feel more self-

Esteem

Which of the following is a true statement about change

Everyone reacts differently to change

Which credit legislation gives consumers the right to inspect their credit history files

Fair credit reporting act

What should receiving employees do if they find that 10 cartons of an order of paper cups have been crushed and severely damaged during shipment?

File a claim with the carrier

One effect of an exclusive distribution relationship between a supplier and a retailer is that retailers are

Forced to limit their brand selection for certain products

Which of the following is the primary factor that businesses consider when determining how often to reorder goods

Frequency of sale

What is most likely to occur when a business exhibits ethical behavior by being fair and honest

Goodwill

What is the advantage in using personal interviews to collect marketing data

High flexibility

A costumers stealing money from an open cash register is an example of _____ risk

Human

One way that a businesses use environmental monitoring in the marketing planning process is to

Identify changes that might be opportunities

In which I'd the following ways is inventory shrinkage usually expressed

In units

A benefit of suggestion selling to the salesperson is that it can

Increase a salespersons total sales

Which of the following is not a benefit of using an electronic cash register

Increased sales

Low unemployment levels lead to higher wages for employees. Which often result in an increase in the

Inflation rate

Why is it important to assess personal strengths and weaknesses before interviewing for a job?

Interviews often ask you to discuss your strengths and weaknesses

What is the primary purpose of offering customers a few months free access to a well-known Internet portal when they purchase new computer systems?

It increases the probability of long term internet use and service

Purchasing can help manufacturing businesses to sharpen their competitive edge by

Keeping their prices down.

One reason why retailers write purchase orders when buying merchandise from manufacturers is to establish a

Legal contract

A modern method of producing promotional signs for displays is through the use of

Logo types

Retailers often remove certain merchandise from the shelves at the end of each season to

Make room for new stock

George is trying to decide if his company should increase its production. To get an accurate idea of whether to increase production, he should chart a graph that illustrates ______ and ________.

Marginal cost; marginal revenue

Al's hardware wants to know whether to carry a new type of electric saw. This is a question that can be solved through

Marketing

And auto producer decided to produce a new car called the "Shark." Since the parts of the car it will be easily interchangeable in the company expects to produce a large quantity of cars, the best method of production would be _______ production

Mass

When delivering an oral presentation, the speaker should

Monitor his/her own nonverbal language

In what type of market do companies compete by making their products different from each other as to quality, service, styles, and prices

Monopolistic competition

To calculate the total cash received for the day, what should you remember to subtract from the total cash drawer amount on your fault balance form?

Opening change fund

Which of the following is a standard function of most spreadsheet software programs

Performing financial calculations

What is the computerized system linking cash registers to a central processing point that transmits information to the central database, thereby allowing apparel stores to instantly update perpetual inventory records, place reorders, take markdowns, and balance inventories?

Point-of-sale

Employees who have an achievement orientation usually have a

Positive attitude

Which function of marketing determines how much gross profit a business will make in a food or service?

Pricing

Marketing research is used in problem solving and decision making in all areas of the marketing mix which includes

Promotion

One way for Sidney to motivate her team members to accomplish a certain goal in a specific amount of time is by what

Providing an incentive

Many businesses coordinate a wide variety of promotional activities such as Advertising, special events, and displays in order to

Reach a large audience

If a wholesaler objects to a suppliers policies restricting trade or competition, it is illegal for the supplier to _____ with the wholesaler.

Refuse to deal

A salesperson who frequently handles customer complaints should think of each complaint as an opportunity to

Satisfy the costumer

Employees who handle company property correctly so it needs less repair often help the business to

Save money

If some of a new employees job tasks are unfamiliar and seem complicated, she/he should

Seek clarification from the supervisor

The way you feel about you view of yourself is referred to as your

Self esteem

The primary purpose of collaborative software applications in the business environment is to

Share information

The number of levels of management that a business needs usually depends upon the

Size of the business

Why is it important to define your project precisely?

So you can achieve your objectives

Which of the following is one of the drawbacks of using consensus building as a decision making tool:

Takes time

Hospitality and tourism businesses maintain accurate records of their income and expenses in order to comply with the governments

Tax laws

When costumers are provided the most satisfactory goods, they have positive feelings about the company and often

Tell others about the business

Which of the following is a situation that demonstrates the use of technology to recruit employees

The TRN company posts its current job openings on its web site

The HiTech Electronics company is determining if it should offer its costumers a coupon or a rebate as a promotion for a new electronics product that is releasing. Determine which of the following is the better promotional offer for costumers if the product sells for $799: A 15% coupon or a $110 rebate

The coupon. by using the coupon, the costumer will pay $679.15; by using the rebate, the costumer will pay $689

Which of the following statements about understanding your spending habits is true

The first step in creating a financial plan

When processing a telephone order for a computer printer ink cartridge, a salesperson should always have the costumer provide

The manufacturer and model number of the computer printer

What was the original economic intent of communism?

The people would own everything

What effect do tariffs and other trade barriers usually have on retailers

They raise prices, making it more difficult to sell those goods

Who is it a good idea to take a small dictionary with you when completing a job application form?

To create a positive impression by spelling the words correctly

Why do Many businesses expect their employees to to their jobs according to strict guidelines

To create a safe environment

What is one of the main reasons that a business develops a promotional plan?

To create consumer demand

When dismantling displays, who is it important for stores to carefully examine the furniture pieces that have been used to display accessories

To evaluate their condition

Why do many socially responsible businesses offer their employees benefits such as counseling, retirement planning, and additional training?

To increase employee satisfaction

An illustration of a hollow tree "inhabited" by Keebler elves appears on boxes of Keebler Town House Crackers. These elves are known as

Trade characters

One of the reasons why a business should examine its profit and loss statement is to

Understand it's entire financial situation

Managers and researchers have decided to conduct their marketing research study by looking at individual costumers rather than at households. They have determined the

Unit of analysis

What should Jake do after giving verbal directions to his classmates?

Verify their understanding

Large retailers that store merchandise often keep the excess items in

Warehouses

The type of visual merchandising that is used to draw costumers into the business is ____ displays

Window

Because the Hubert Company is not sure how to define its marketing problem, it should begin examining the issue by

conducting exploratory research.

Producers are able to match their production to the needs of consumers or industrial users because intermediaries

develop an assortment of goods

Millie is reading a book to learn how to knit. She wants to make her sister a scarf for Christmas, but it's only a week away, and she doesn't have much time. Millie decides to skip ahead of the directions, and the scarf winds up looking more like a potholder. Which of the following tips for following directions did Millie ignore:

don't rush

Which of the following is an important factor that affects the legal procedure:

jurisdiction

One way that employees can provide efficient, quick service to customers is by being

organized

Marketers at GG Unlimited are using the company's marketing-information management system (MkIS) to learn more about the effectiveness of the company's latest advertising campaign. This is an example of how the MkIS can be used to evaluate

promotional strategies

When developing a web page, it is best to

use short blocks of text.

A memorandum is typically used for communication that takes place

within a business

A job applicant who wants to write a follow-up letter should follow the guidelines for

writing a business letter