Do Now Test 1st Semester & 3rd Quarter
When setting marketing objectives. What should businesses include to make the objectives more effective?
Time period to accomplish the objective
Which of the following is an aspect of customers service that imports the distribution function?
Timeliness
What is one way that a business might use marketing information?
To develop new products
Why do many countries tax the products that are imported into those countries?
To protect domestic industries from foreign competitors
Why do businesses often make it possible for employees to meet during work time and participate in group discussions?
To share many different opinions
The benefits that employees receive in addition to their regular wages usually increase the employees....
Total Compensation
Which of the following is a type of agreement between a buyer and a seller that the Clayton Act makes illegal:
Tying Contract
Economics is the study of how to meet unlimited competition wants with....
Unlimited resources
What type of channel conflict might occur if a business that sells to wholesalers decides to also sell its products directly to retailers...
Vertical
A businesses' market structure in an industry can be described as a
Way for suppliers and demanders to interact
Which of the following questions is it important to ask to determine the business's strengths wen conducting a SWOT analysis?
Where are we making money?
Why is it important for businesses to assess global trends and opportunities?
Worldwide economic conditions affect marketers
Most businesses must collect sales tax on the products that they sell to final consumers and
turn it over to the state and local government
Letters of inquiry that businesses write to other businesses are routine business communication and usually contain only...
Basic information
Which of the following is an inelastic demand?
Bread
Potential losses that businesses face are called __________
Business Risks
To make sure products are available when customers want, a business should coordinate promotion with
Distribution
Which of the following is the best way to handle dishonest customers?
Don't jump to quick conclusions
Which of the following is a reason why some businesses use creditors pricing?
Drive out competitors
Obsolescence, a change in local conditions and government spending policies are examples of business risks that are classified as
Economic
When segmenting international markets, the value of currency and the rate of inflation are ________ factors that businesses should consider?
Economic
Price stability which means that the price levels stay fairly constant, is an example of a(n)_____________________?
Economic Goal
When consumers attempt to obtain maximum satisfaction from limited resources, they are
Economizing
One of the main purposes of a business plan is to help a new business?
Establish objectives
Organizations often develop customer service activities that are based on their customers'
Expectation
What type of information should a business include when writing a sales proposal to send a customer?
Features and Benefits
In business budgets are prepared for a specific time period, usually a
Fiscal Year
What is a business usually better able to do when it selects a certain target market?
Focus marketing decisions on a specific group of people
One of the main reasons why a business conducts a market analysis is to
Forecast Sales
It's all the individuals who own a business share unlimited liability for the business's losses these individuals are part of a(n)
General Partnership
Increasing membership by 25% during the next year might be one of the _________ of a health club.
Goals
When creating and posting information to a website, one of the most important consideration is the
Home Page
The tax that businesses pay on the profits they earn is an example of __________ tax.
Income
Which of the following is demographic information that businesses might monitor when making marketing decisions:
Income
A primary reason that businesses expand their operations in foreign countries is to
Increase revenues
As the size and power of U.S. businesses have increased over time, the federal governments involvement in the U.S., economy has
Increased
Why might result if a business merchandising budget called for purchasing more goods than customers wanted?
Increased cost
What type of property is a business protecting when it registers its trademark?
Intellectual
Certifications of deposit & collectibles are types of
Investments
A group of workers who have joined together for a common purpose is called a(n)
Labor Union
A franchisor requiring a franchise to see only the franchisors produces is an example of exclusive dealing which is_________________?
Legal in this situation
The first step in dealing with a customer who has a complaint is to....
Let the customer explain the problem
Which of the following external environmental factors has an effect on business
Local competitors
Which of the following is an example of a business coordinating distribution with the marketing function of promotion:
Making sure products are in stock before advertising
The basic economic questions such as what and how much a country will produce are answered by consumers in a ________ economic system?
Market
What do businesses often conduct in order to be able to forecast sales and plan for the future?
Market Analysis
One way in which a business can show its social responsibility is by _____ its profits.
Maximizing
Which of the following often prepare budgets in business?
Middle Manager
Which of the following is an example of a simple written report that a business might prepare on a regular basis
Minutes of a staff meeting
Because individuals and businesses are the primary decision makers, while government helps to regulate 2nd control the system, the US private enterprise system is considered a ________ economic system.
Mixed
Cotton is an example of a __________ resource?
Natural
Expenses associated with the costs of running a business are _____ expenses
Operating
Businesses often conduct a situational analysis during the marketing-planning process to identify possible threats in the marketplace in order to turn threats into...
Opportunities
One way that employees can provide efficient, quick service by being
Organized
A basic purpose of writing a daily activity report is to provide a(n)
Overview of work completed and planned
Selling barbecue supplies at a park picnic area is an example of ________ utility
Place
One way to effectively prepare for an oral presentation is to?
Practice
Why might businesses decide to hold on to products to sell later when the economy is experiences high levels of inflation?
Prices will continue to rise
Which of the following is an example of a direct channel of distribution strategy?
Procedures using catalogs to sell
The process of converting resources into god and services is called...
Production
Research has included that your businesses needs to let customers know it produces pizzas with more toppings than your competitors offer. What element of marketing mix should be utilized?
Promotion
Which of the following would most likely indicate that an adjustment in a sales forecast is needed:
Promotional strategies will remain the same for next year.
How does insurance benefits a business?
Protects against finance loss
Which of the following is often a characteristics of products that us the exclusive level of distribution strategy?
Purchased infrequently
Which of the following departments in many businesses is responsible for generating product ideas?
Research & Development
What do businesses often develop before obtaining marketing information to solve a problem?
Research Theory
What a business earns from the sales of goods and service is
Revenue
A business giving an employee a free cruise for having developed a way to save the business money is an example of giving an employee a _________?
Reward
A type of promotional activity that a business should coordinate with other promotional activities is
Sampling
What type of resource would most likely encourage a company to do business with a foreign firm?
Scarce
One aspect of coordination distribution with the marketing function of pricing involving?
Setting appropriate prices
A characteristic of a simple written report is that it usually is....
Short
One reason it is important for businesses to regularly review products to make sure they fill customers needs is because the _____ changes
Social Environment
What is the next topic that you should address after you define the specific problem in a written proposal?
Solutions
What does an enclosure notation at the bottom of a business letter signify?
Something is being send with the letter
An important reason why businesses set clear marketing goals and objectives is to
State what the business hopes to achieve
Businesses maintain accurate records of their income and expenses in order to comply with the government's
Tax Laws
Which of the following is a true statement about teams and conflict:
Teams can help to reduce workplace conflict
If monopolies are illegal in the United States why are some utility companies allowed to exists as monopolies?
The companies are regulated by government
What do businesses need to develop and use in order to prepare financial statements ___________?
Accounting Systems
A characteristic of an oligopoly is that business operation in this type of market are greatly influenced by...
Actions of competitors
An employer who wants to find out how good a job applicant's specific skills are may ask the applicant to take a(n) _______ test.
Aptitude
Which of the following is an economic good?
Automobiles
When writing email messages, employees should remember that emails
Can be forwarded to others
When a business conducts an environmental scan, which of the following issues is a political factor that it should consider
Changes in regulation
A product entering the maturity stage of its life style is a reason for a business to consider evaluating....
Channel Member
Reconciling a personal bank statement is the process of determining and differences between the bank statement and the...
Checkbook balances
An oral expression of dissatisfaction is an employee's _______ regarding his/her job of job situation.
Complaint
Why is important for businesses to create processes that allow them to continually look for and recognize opportunities?
Complete successfully in the marketplace
One of the resources that business & consumers use credit is because it provides
Connivence
The amount of a product that is produced is most directly affected by....
Consumer Demand
Fluctuation in interest rates often have an impact on the use of....
Credit
One of the purposes of a situational analysis component of a marketing plan is to determine a business's ______________?
Current weakness