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