DECA EXAM#2 - Matthew Brueckner

A taxi service competes with other taxi services, but it also competes with the local bus system. This second type of competition is known as __________ competition.

Indirect. A taxi service and a bus service compete with each other indirectly. They are not the same type of product, but they still strive to win scarce customer dollars. Understanding competition—both direct and indirect—is an important step in identifying and carrying out brand promise. Indirect competition is not referred to as friendly, unnecessary, or incomplete.

Which of the following work tasks must always be completed in designated sequential order:

Jack pulls stock, Mary packs the box, and Tim places the order on the truck. When one task needs to be completed before another task can be started, then the work must be done in sequential order. Before Tim can place an order on the truck, Mary must pack the stock that Jack pulls from inventory. In this situation, each employee depends on another employee to perform a task before s/he can perform his/her assigned task.

To take advantage of work-related networking opportunities, a businessperson might benefit by

Joining a professional organization. A professional organization is a group of persons in the same profession who form a society to further their common interests. By joining a professional organization, a businessperson has the opportunity to meet others who work in the same field or industry. When a businessperson talks or networks with other businesspeople about topics such as career-development activities or job leads, s/he is taking steps to advance his/her career. Participating in an online social network, developing a creative résumé and cover letter, and planning a meeting with a sales trainer do not necessarily provide a businessperson with work-related networking opportunities.

Which of the following sample designs draws data from the knowledge of experts:

Judgment sampling. Judgment sampling, also known as expert sampling or purposive sampling, is a non-probability sampling method in which researchers handpick respondents based on their knowledge or expertise. Referral sampling, another name for snowball sampling, is a non-probability sampling method in which researchers ask respondents to help them identify and recruit additional respondents for the study. Simple random sampling is a probability sampling method in which every sampling unit has a known and equal chance of being selected. Systematic random sampling is a probability sampling method in which researchers place sampling units into a random list and draw a sample using a skip interval.

Rashid's business always puts the customer first. All of the company's decisions are made to satisfy customer wants and needs. Rashid's company is using the __________ concept.

Marketing. The marketing concept is a philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals. While utility and the marketing concept go hand in hand, the utility concept is not a term commonly used to refer to the marketing concept. The marketing concept is also not typically referred to as the customer concept or the relative concept.

Which of the following sources of data would be best for a marketer who is looking for trends and changes in his/her industry:

Trade journal. A trade journal is an industry-specific publication that keeps readers up to date on what is happening in the field. If a marketer wants to know about trends and changes in his/her industry, a trade journal would be a useful source of data. A sales invoice is a valuable source of data for customer information. A competitor's promotional campaign is beneficial when gathering data about the competition's strategy. Finally, public financial data can inform marketers about competitors.

A marketing survey that contains questions that are to be answered on a scale of 1 to 5, with 1 being the worst and 5 being the best, is an example of

Coding. Coding is the process of assigning a numeric value to the various responses on a marketing questionnaire or survey. Some questionnaires contain built-in codes, such as when the respondent is asked to rate agreement with a question on a scale of 1 to 5. The numbers from 1 to 5 are the numeric codes. For other types of questionnaires, researchers often establish a master code. For example, there are six possible responses to a certain question and the third answer has a numeric value of 3, but that number is not printed on the questionnaire. Tabulating the responses occurs after the surveys are completed. Sorting and marking do not assign numeric values to each response on a marketing questionnaire.

If the test-marketing process yields positive results, the next step is

Commercialization. Test marketing involves introducing a new product to a limited market to determine what its acceptance will be. If the test market accepts the product, it is ready for commercialization. Commercialization is the point at which a product goes into full-scale production, the marketing plan is put in place, service and sales training are done, and the product's life cycle begins. Product innovation is the process of generating product ideas. After screening ideas and determining the feasibility of a specific idea or item, the business develops a prototype, which is an early model or sample of the item. Modification is altering an existing product.

Which of the following activities is an aspect of marketing a service:

Determining how much to charge for a haircut. While finding out about customers, offering a new, improved product, and advertising on television are all forms of marketing, only determining how much to charge for a haircut is an aspect of marketing a service. A service is an intangible activity that is performed by someone else for money. A haircut is a service. Cell phones and coffee are goods, and the state of Michigan is a place.

Which of the following would be a job responsibility of warehouse employees:

Determining where to store goods between production and consumption. Warehouse employees ensure that goods are effectively stored until they are purchased. They determine where the goods should be stored, how to process orders, and how to fulfill customer service needs. Retailers develop merchandise displays, public relations professionals communicate with the media to create a positive company image, and salespeople and customer service representatives assist customers with setting up accounts.

Pedro received a check in the amount of $432.87 from the Tabor Corporation, a company in which he is a stockholder. This source of income is referred to as

Dividends. Individuals and businesses acquire income in many ways. Dividends are earnings that are paid to investors or stockholders for their investments. When Pedro purchased shares of Tabor stock, he became an owner of the company. As an owner of the company, Pedro has the opportunity to earn a percentage of the company's profits, which are paid to him in the form of dividends. Wages are the income that workers earn for the work that they perform. Interest is the reward or cost of lending or borrowing money, usually figured as a percentage of the amount borrowed. An inheritance is the assets (e.g., property, goods, money) that a person leaves to others upon his/her death.

Elise smiles brightly and says, "Martin, you are making incredible progress. I am very proud of your efforts—keep up the good work!" What characteristic of coaching is Elise demonstrating?

Enthusiasm. Coaching is the process of helping others reach their full potential and overcome the barriers that are keeping them from doing so. Effective coaching involves exhibiting certain qualities and characteristics, including enthusiasm. When coaches show their own excitement and interest in helping them, their protégés are more likely to be motivated to make changes and improvements to reach their goals. Empathy is the ability to put yourself in another person's place. Humility is a lack of pride. Patience is the ability to endure life's aggravations and difficulties calmly. Although these are also important traits for effective coaches to have, Elise is not demonstrating those particular traits in the example.

If a business doesn't want to pay to set up operations overseas, it might choose to expand through

Exporting to foreign countries. If a business doesn't want to pay to set up operations overseas, it might choose to expand through exporting. With exporting, a business simply ships its products to other countries. Joining a strategic alliance, establishing a multinational firm, and creating a wholly owned subsidiary are all options that require the time, effort, and money of setting up overseas operations.

Which of the following is an effective subject line for a professional email:

Meeting on Monday at noon. It's important to write an email subject line that accurately and specifically describes what is in the email. If you use a vague subject, like "Hello!" "Can I ask you a question?" or "FYI," your recipient might not even open the email. An email subject should summarize the main point of your email.

Which of the following is an example of an employee using nonverbal communication effectively to reinforce his/her service orientation:

Molly nodded and maintained eye contact as Ms. West explained the problem with her computer. Having a service orientation involves expressing a positive, helpful attitude with the business's customers. Employees' gestures and facial expressions convey their attitudes, which customers often believe is a reflection of the business's attitudes. Because Molly nodded and maintained eye contact with Ms. West while she was explaining a computer problem, Molly was indicating that she was listening and willing to help her customer. Employees are not exhibiting a service orientation by behaving rudely, which may include rolling their eyes, crossing their arms, and being impatient with customers. Tristan was demonstrating a service orientation through his verbal rather than his nonverbal communication.

What is the advantage to a business of having its employees generate product ideas as a group?

More participants provide a variety of perspectives. An advantage to group collaboration is that several people are actively involved in the process, which provides greater potential for a lot of ideas. Because each group member has different life experiences, each person has different perspectives (points of view). When a lot of different ideas are generated, more ideas tend to emerge—ideas that build upon previous ideas. Idea generation is not always an easy process. Screening ideas, reaching consensus about the feasibility of a specific idea, and developing and implementing a product concept are steps of the product-development process that occur after the idea-generation process.

A benefit to the seller of bundling products is that doing so

Often lowers the marketing costs. Product bundling involves combining several products and selling them for one all-inclusive price. Bundling products often lowers a business's marketing costs because the business is selling three items together as one unit rather than three individual items. Bundling products for one low price communicates value to consumers and may reduce their comparison shopping activities, but comparison shopping cannot be eliminated. Bundling products does not reduce product- quality problems, but changes in production processes might improve the quality of products. Product placement is a form of advertising media that uses products as props (e.g., in films or television shows). Product bundling does not usually decrease a business's promotion goals in relation to product placement.

During the vendor-selection process, BWH Company asks potential vendors if they can process purchase requisitions so that the shipments arrive at the company's warehouse within five days. In this situation, BWH Company is most concerned with the

Order cycle. The order cycle is the period of time that it takes to process and deliver an order upon receipt of a purchase order or requisition. The order cycle is a very important factor to consider when selecting vendors. For example, if a vendor cannot ship parts to a manufacturing company when they are needed, the manufacturing company's production process may be stalled. Product quality, pricing, and the shipping method are factors that businesses consider when selecting vendors; however, the BWH Company is not asking about these factors in the situation provided.

4- Beth's Orchard sells fruit to Aaron's Fruit Warehouse, which then sells the fruit to a variety of local stores that sell to the final consumer. In this example, the fruit is following which channel of distribution?

Producer to wholesaler to retailer to consumer. In this situation, the producer sells to Aaron's (wholesaler) which sells to a variety of local stores (retailers) that sell to the final consumer. In producer to agent to consumer, there is no agent involved and the local retailers are left out. In producer to agent to wholesaler to consumer, there is no agent, and the local retailers have been left out. In producer to retailer to consumer, Aaron's Fruit Warehouse has been left out.

The reason that businesses establish standards for their goods and services is to

Provide uniform, consistent products. Standards are statements that specify a product's size, contents, and/or quality. Businesses use standards as a basis for comparing or judging goods and services. A business establishes product-quality standards to make sure that each good and/or service the business offers is uniform and consistent in appearance, durability, or performance. Businesses do not establish product-quality standards to determine necessary inventory levels or to encourage customers to buy in bulk. Businesses establish time standards to improve their employees' productivity rates.

Which department would a marketing manager contact to make sure that enough product is on hand for an upcoming promotion?

Purchasing. A company's purchasing department negotiates pricing and orders products from suppliers to service customers and keeps the operation going. A promotion might require an additional product for a specific time. Therefore, the marketing manager needs to advise the purchasing department to order additional items for the promotion. The shipping department coordinates the movement of materials from the warehouse to the transportation channels. An accounting department is responsible for the company's financial matters. The customer service department troubleshoots issues, such as placing orders or handling returns, between the company and the customer.

What statement is true about technology in relation to channel management?

Some businesses have the capacity to distribute most or all of their products through the Internet. Some businesses provide pure services that do not require the use of intermediaries. For example, it is possible for business consultants or freelance copyrighters to deliver their services directly to the end users through their websites. Many financial services, such as bank loans and stock trades, can be completed online without the use of intermediaries. Because some businesses are bypassing intermediaries and selling products directly to the end users through their websites, vertical conflict among channel members continues to be a problem. When businesses decide to sell directly to consumers, the number of intermediaries they use is reduced. In many ways, technological advancements make the distribution process more efficient. For example, extranets make it easier for channel leaders to monitor channel activities and for channel members to communicate with one another.

A person planning a budget for living on his/her own most likely needs to conduct research to calculate

The cost of his/her future expenses. When planning a budget for living on his/her own, a person most likely will need to conduct research for the cost of his/her future expenses because they have not occurred yet. A person usually knows her/his current income and how much s/he has in savings. S/He is not likely to consider his/her savings or the interest paid on savings when determining a budget.

Which of the following is a characteristic of an efficient accounting system:

User-friendly. An accounting system is the methods and procedures that a business uses in handling its financial information. An efficient accounting system allows the business to retrieve the information it needs quickly and easily. Because most companies use computer-based accounting systems to help them store, track, and retrieve important financial data, it is important for the accounting system's software to be user-friendly, easy to use, and easy to operate. Most companies do not want a lot of people to have access to their financial data, so it is important to keep it secure and accessible for those who need and use the information. Accounting systems require some type of maintenance because people must continuously update the information. Accounting systems do not produce results for the business—they simply store information in an organized way.

When DeShawn's teacher compliments his work on his group project, he's sure to give credit to the other group members who helped. DeShawn is showing

When DeShawn's teacher compliments his work on his group project, he's sure to give credit to the other group members who helped. DeShawn is showing