Marketing cluster

If total cost is $3,000 with zero quantity produced and $6,500 with 1,000 items produced, what is the marginal cost of producing each item?

$3.50

What is a bus iness's total cash available if it has a beginning cash balance of $2,400, total cash receiptsof $3,500, and payments due of $1,200?

$5,900

Which of the following is essential to all marketing research:

Accuracy

Jan left her cash register unattended, and her supervisor reprimanded her for leaving the sales floor without permission. Jan apologized to her supervisor and agreed that her action was wrong. Which of the following guidelines for handling constructive criticism did Jan follow:

Admit your mistakes.

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 bank denies a business owner's application for credit saying, "We feel that you would be unable tomake the monthly payments because of your other debts." What financial report did the bank review?

Balance sheet

A well-known company developed the first tissues that were enhanced with lotion. What strategy was most likely used to initially position the product in the marketplace?

Benefits

Which of the following packaging strategies is often considered to be unethical:

Cause

Which of the following is the type of branding that differentiates an organization from its competitors:

Corporate

Which of the following is an example of a business tabulating the results of a marketing survey:

Counting the number of respondents who agreed with the questions

Which of the following is a technique that businesses often use to coordinate promotional and selling activities:

Create an in-house event

When implementing purchasing activities, what do businesses often establish in order to select vendors?

Criteria

Calculate the rate of unemployment in a community if there are 20,500 people in the labor force and 1,300 people are unemployed.

D. 6.3%

If the price of gasoline increases $ .50 per gallon, what would most likely happen to the demand for Type A cars that get 18 miles to the gallon vs. Type B cars that get 40 miles to the gallon?

Demand will go down for Type A cars and up for Type B cars.

What type of promotional media is a business using when it sends out a postcard telling customers who recently purchased products that the business is adding a new line of products?

Direct mail

Which of the following is an example of a situation analysis aid:

Environmental scanning

Franklin received his monthly statement from Friendship General Store. Franklin realized that thecompany had made a mistake and charged him twice for a set of speakers. He notified the company ofthis error and requested an investigation. A representative from Friendship informed Franklin thecompany would look into this matter and provide a written explanation or correct the error within 90 days.The federal credit legislation that Friendship is complying with is known as the

Fair Credit Billing Act.

Which of the following most accurately describes the relationship between risk and return:

For the potential of a high return, you usually accept a high risk.

Which of the following statements is true regarding the regulation of promotional activities:

Governmental restrictions in regard to promotional activities vary by country

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

High flexibility

Which of the following is demographic information that businesses might monitor when making marketing decisions:

Income

A company's ad features the care it takes not to damage the environment with its manufacturing methods. This is an example of what type of promotion?

Institutional

Decisions can be affected by which of the following factors:

Internal and external

Which of the following is not a demographic characteristic:

Location

What does a business need in order to understand why a product that has been a strong seller for a longtime is now losing popularity?

Marketing information

What is one of the weaknesses of secondary information obtained from government sources?

May be inaccurate

What is the professional organization related to apparel and accessories?

Menswear Retailers of America

Which of the following is an example of bait-and-switch advertising

Offering low -priced goods that are unavailable

Which of the following is not a category of selling policies:

Operating policies

John, Robert, and Charles were college friends who wanted to start a business. john has creative ability, Robert's expertise is selling, and Charles' expertise is management. however, each has limited capital. the ideal business ownership for these young men is a

Partnership

Which of the following is motivation for a customer's buying behavior that is based on loyalty:

Patronage

In relation to unexpected events, which of the following is a true statement about project planning:

Plans should change if necessary

Which of the following is a business trend that involves supplementing a company's existing "brick andmortar" sales efforts and promotional activities with Internet technology:

Posting web sites

What type of software program allows businesspeople to combine graphics, transparencies, slides, and text for an on-screen display of information?

Presentation

What does a salesperson need in order to be able to translate the features of goods and services into benefits?

Product information

Which of the following research techniques usually answers questions related to "how many":

Quantitative

Which of the following is an example of a durable good that could be marketed:

Refrigerator

Which of the following is a true statement about the importance of sales ethics:

Salespeople have a direct effect on a customer's first impression of the business

Which of the following is a source of error in the research process:

Sample design

Why should salespeople understand their company's distribution system?

So they can give good customer service

Which of the following workplace-related safety and health issues would most likely be regulated by law:

Storage and disposal of chemicals

Which of the following e-mail options provides a brief statement about the message's content:

Subject

Which of the following is a common behavior found on teams that successfully work together toward ashared vision:

Taking action

What are two things that a purchasing specialist should consider when making a make-or-buy decision?

The company's production capabilities and the cost of making the needed parts

What do businesses often use to disseminate positive information about themselves and their employees to external audiences?

The media

ABC Corporation is preparing to print the results of a marketing -research project conducted by anexternal research company. The researcher believes the conclusions that ABC has drawn from the reportare not supported by the data. What should the researcher do?

The researcher should tell ABC's managers that the data do not support their conclusions

Whom do employees hurt when they behave unethically?

Themselves and their employers

Which of the following is an accurate statement about the use of time:

Time is a precious commodity

Which of the following is not a reason for revising standards:

To cut costs and increase profits

Why do some businesses sponsor local events?

To obtain publicity

Why do businesses keep copies of letters to clients and minutes of meetings with customers?

To refer to in the future

Which of the following is an internal factor that has a significant effect on selling price

Variable expenses

An employee who is trying to reduce the level of stress s/he is experiencing focuses on a peaceful beachscene and tries to imagine the sights and sounds of the scene. This is an example of which stressmanagement and relaxation technique?

Visualization

Top- Notch Wheels buys mountain bikes from The Great Colorado Mountain Bike Company and sells them to bike shops. Top-Notch Wheels is an example of a(n)

Wholesaler

When using the Six Thinking Hats technique for generating ideas, which color of hat focuses on the positives?

Yellow

An operations manager deciding to move the production facility to a foreign country to lower costs by using the child -labor market might be an example of

an ethical issue.

In budgeting, utility bills, salaries, advertising, equipment purchases, taxes, and loans are examples of

business expense.

what might result if a manufacturer wants prompt payment for goods, but the intermediary wants to defer payment for as long as possible?

channel conflict

Developing a marketing -research brief helps a firm

communicate the purpose of the study.

A manager evaluates the production output of a department by checking it against the production goalsfor that time period. This is an example of the __________ function of management

controlling

One reason why businesses develop and use information systems is to help with the

decision-making process

Making sure that the headline, illustrations, and copy promote the same theme is an example of coordinating

elements in advertisements

Advertising copy that states "Only 3 days left" is trying to

encourage action

Empathy can help employees to handle customers' returns effectively because it will enable them to

feel customers' frustration with the products.

Mark had an entry -level job with a marketing company but was consistently denied promotions becausehe was overweight. He was dependable and productive and continued to try for advancement eventhough management was not supportive. He was advised by a career counselor that he couldn't bedenied promotions because of his size. Mark felt that he was being treated unfairly and decided to

file a lawsuit.

When return on capital is positive, the company is

growing in value.

Warranties and guarantees often benefit businesses by providing

increased profits and customer feedback

Jonathan works in his small town's only video store. He is on a first-name basis with most of the customers who come in. Cheryl is a difficult customer. Sometimes she's really friendly, and other times she snaps at Jonathan. She is a(n) __________ customer.

irritable/moody

Dedication to your company's goals is an indication of

loyalty.

When the Federal Reserve System puts more money into circulation, businesses and consumers often

make more purchases.

Katharine has just been hired as a brand manager at a retail chain. Her career is in the area of

marketing management

Employees can manage their work in order to control expenses by

meeting project deadlines

The time required to sell intangible products is usually __________ is required to sell tangible goods

more than

An example of a physical communication barrier is

noise

One of the main reasons for developing a marketing plan is to identify the strategies necessary to achieve the marketing

objectives

One advantage to a business of installing a global-positioning system in all of the business's delivery vehicles is that the drivers can

obtain accurate directions to destinations

what should employees keep in mind when trying to be objective while defending their ideas?

others may have different opinions

One way that technological innovation has changed business is by decreasing the use of

paper forms

Target markets are important factors to consider when businesses are

positioning their corporate brands.

A business that advertises a special sale as well as its delivery service is using a combination of ___________ competition.

price and nonprice

Marketing research objectives are intended to explain the research

problem

The way in which a business makes changes in the amount or type of goods or services it offers is known as its

product-mix strategy.

many businesses establish guidelines to direct the interactions of employees with customers for the purpose of

promoting good customer relations

The primary purpose of most government regulation of consumer products is to

protect consumers.

The development of the computer database impacts the way that a business manages products because it

provides quick and easy access to purchasing histories

A business's customers buying between six and nine products per week is an example of

range

which of the following is a characteristic of debtor-creditor relationships:

regulated by various laws

A salesperson who is planning a business trip to meet with several customers in a different city might write letters of inquiry in order to

request appointments

A job applicant who writes to a business that is advertising positions available may include in the letter an offer to telephone the business at a certain time in order to

schedule an interview

The cost of promoting products are often

shared by channel members

the overall reason that supervisors try to establish good communication with staff members is to

support the work effort

what do business employees often do during meetings to be able to share important information with other employees?

take notes

which of the following is an example of a large business using coercion in the distribution channel:

threatening to stop using a supplier unless given major concessions

why is it important for business employees to identify the audience before developing an oral presentation?

to include appropriate information

An advantage of participating in trade shows to locate sales contacts is that the cost of participating intrade shows is usually less than the cost of

traditional advertising

What do both buyers and sellers want to receive when exchanging goods and services for a specificprice?

value

When a business collects marketing information from its customers, it should consider that consumer-privacy laws

vary by jurisdiction

A business's customers recommending the business to their friends is an example of

word-of-mouth communication

The ultimate responsibility for personal health and safety on the job rests with the

worker.

Advertisers should not make exaggerated claims for a product when advertising to young children because

young children have a limited ability to evaluate information