Business Essentials 12th Edition Ronald Ebert, Ricky Griffin - Solutions

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When companies compete aggressively on the basis of price, quality, and brand-name image because consumers carefully compare brands, these businesses are most likely selling __________ goods and services.a. convenienceb. shoppingc. specialtyd. unsought
When businesses hire celebrities to endorse their products and connect their brands with positive attributes, they are focusing on enhancing their branda. loyalty.b. awareness.c. association.d. extension.
A brand that markets several different products under the same brand name is aa. manufacturer’s brand.b. family brand.c. private brand.d. co-brand.
Siobhan Clark just bought a Chicago Cubs jersey with player Jon Lester’s name and number on the back, as well as a hat and jacket that display the Cubs logo. The type of branding strategy used for these products isa. generic branding.b. manufacturer’s branding.c. private branding.d. brand
In what stage in the product life cycle would you consider Tesla automobiles to be?a. Introductionb. Growthc. Maturityd. Decline
Stephanie Ling has been asked to conduct a breakeven analysis. In which category would she put the cost of rent for the manufacturing facility?a. Fixed costb. Variable costc. Revenue costd. Production cost
Rocco Valentino shops only at Walmart because Rocco believes he will receive the lowest price without further hassles. This type of pricing strategy is known as __________ pricing.a. dynamicb. everyday lowc. competition-basedd. penetration
Sally and Brian only go shopping on Tuesdays because they can get the senior discount.Which pricing strategy are they taking advantage of?a. Predatory pricingb. Price discriminationc. Target costingd. Psychological pricing
The augmented product provides additional value to a customer’s purchase.True or False
A local pizza joint increased its prices, so now you buy pizza elsewhere. Pizza is therefore an inelastic good.True or False
The local small appliance store has microwave ovens for sale at a price of $149.95. The price tag notes that the manufacturer’s suggested retail price is $160. This type of pricing is referred to as a loss leader.True or False
MRO B2B products are marketed much like consumer convenience goods and services.True or False
A product’s packaging is used only to provide protection of the good’s contents.True or False
Describe the core, actual, and augmented product benefits for the following goods and services: a hamburger purchased at McDonald’s, a gym membership, and this textbook.
Describe when it might be appropriate to use each of the following pricing strategies: discounting, rebates, bundling, dynamic pricing, prestige pricing, psychological pricing, loss leader pricing, and reference pricing.
Which team would you recommend the company fund? Why?
How do the potential profits of Team B’s drug affect your stance from both financial/business and medical/ethical perspectives?
What about pricing? How might you reconcile the need to keep the drug company profitable with the ethical responsibility to make medications affordable for those in need?
Go to Apple’s iPhone website. Describe Apple’s marketing mix strategy for its product and its price.When would an iPhone be a consumer product, and when would it be a B2B product? What does Apple do to augment its product? What type of branding strategy is Apple pursuing? What stage of the
Organic products are increasing in popularity.Suppose Coca-Cola came out with an organic soda product. Use the Internet to research other organic beverages and sodas. Where among Coca-Cola’s product lines would this item fit? How would CocaCola’s established branding help or hurt the product
Choose a favorite brand of clothing or food and use the Internet to gather information about it. What type of brand is it—manufacturer’s, private, individual, or other? Is it part of a brand extension? Is it associated with a co-brand or a licensing arrangement? How do packaging and labeling
Look at Walmart’s website or a website for an online drugstore. List the various manufacturers of toothpaste. Then, for each one, list the various products they make. How are companies trying to differentiate their products from each other? How do you think consumers react to these various types
Go to an online comparison shopping website such as mySimon, PriceGrabber, or DealTime and research the prices for at least three products. Describe the different prices for each product, noting the kind of stores that offer the lowest and the highest prices. Does there seem to be some consistency
Which of the following is a step involved in a promotional campaign?a. Identify the target marketb. Determine the budgetc. Implement an integrated marketing communications pland. All of the above
McDonald’s advertises that any size coffee is $0.99 all day. This is an example of __________ advertising.a. productb. retailc. comparatived. corporate
Your college professors take on what kind of sales role when they select books for their class?a. Order takerb. Order influencerc. Support personneld. None of the above
Bosch tools are sold in stores such as Home Depot and Lowe’s. What kind of distribution strategy is being used?a. Exclusiveb. Intensivec. Selectived. Franchise
Your grocery store most likely purchases Oreos and other Nabisco products from aa. wholesaler.b. retailer.c. agents/broker.d. distributor.
Which type of logistics is involved in bringing raw materials, supplies, and information from suppliers to the producer?a. Inboundb. Outboundc. Reversed. Third-party
Which is not an example of a nonstore retail outlet?a. A kioskb. A vending machinec. A factory outletd. A telemarketer
American Idol judges often have on their desks tall glasses embossed with Coca-Cola’s logo.This advertising strategy is known asa. product placement.b. viral marketing.c. an infomercial.d. a direct pitch.
Which of the following is a consumer sales promotion tool?a. A 10-percent-off online promo codeb. A $10.00 mail-in rebatec. A frequent buyer cardd. All of the above
QR codes, text messages, and apps are part of what kind of promotional strategy?a. Viral promotionsb. E-commercec. Mobile marketingd. Social promoting
The product itself can be considered part of the promotional mix because samples of it can be given away to demonstrate its features.True or False
Finding the best way to communicate the benefits of a product and persuade customers to buy it is a critical job of marketers.True or False
Personal selling is the least expensive part of the promotional mix, and therefore should always be used.True or False
Using marketing intermediaries often adds efficiency to the supply chain.True or False
The last step in the selling process is closing the sale.True or False
Describe mobile marketing. Why is it such a growing promotional trend? Describe a mobile marketing technique that has made you notice a product. Why did it work (or not work)?
Discuss when it would be appropriate to use the following sales promotional techniques:coupons, rebates, frequent-user incentives, free samples, and cents-off deals.
If you were a legislator voting on a bill that proposed a ban on DTC advertising of pharmaceuticals in the United States, would you vote for it or against it? Why?
Is DTC advertising more appropriate for certain drugs? For example, do the ethics of advertising cholesterol-lowering drugs differ from the ethics of advertising antidepressants? Why?
Consider the tactics pharmaceutical companies use in print and television ads. When or where are the side effects mentioned? Do the ads help raise the awareness of certain illnesses and treatments, or do they give false hope and/or incomplete information to people about powerful medications?
Many companies spend a significant part of their marketing budget on search engine optimization (SEO). Research what SEO is. Why is it so important for companies to do? Discuss why you think companies feel it is worth spending millions of dollars to do.
Find an example of a viral marketing campaign on YouTube. Discuss the features of this campaign that made it go viral. Research to see if the company reported any benefit from this campaign. Discuss whether you think viral marketing is an effective type of marketing.
There are many different careers in sales. To determine whether sales is a good career path for you, use the Internet to research careers in sales. You might want to start by looking at the Occupational Outlook Handbook on the Bureau of Labor and Statistics website. What are the pros and cons of a
Suppose you want to earn a few dollars but don’t want a full-time job. Research the benefits and requirements of working for a multilevel marketing company doing in-home product demonstrations.Some companies to consider are the Pampered Chef, Amway, Discovery Toys, Herbalife, or MonaVie. How does
The text discussed the distribution channels for several products. Complete a similar diagram to Figure 14.7 using examples of other products with a one-step distribution channel (producer to consumer), a twostep distribution channel (producer to retailer to consumer), and so on. FIGURE 14.7
Which formula is the fundamental accounting equation?a. Owners’ equity = assets + liabilitiesb. Assets = liabilities + owners’ equityc. Owners’ equity = assets ÷ liabilitiesd. Liabilities - assets = owners’ equity
The role of a financial manager can best be described asa. outlining a company’s short- and long-term needs.b. identifying the sources and uses of funds for company operations.c. monitoring cash flow and investing excess funds.d. All of the above.
Ted White owns Soup & Salad Café. The terms of his last order for produce were 3/15 net 60. The total amount of the order is $1,500. How much will Ted pay if he pays within two weeks?a. $1,500.b. $1,300.c. $1,455.d. $1,440.
Gormley Paper Products, Inc., is a privately held company with no intentions of going public or being managed by an outside group. It is looking to build a new manufacturing facility in another state. It is considering all of its financing options. Which would be a viable possibility for raising
Cash flow management is important for which business?a. Spring Mountain Ski Shop, which operates between November and Marchb. Lederach Tea Room, which serves breakfast and lunch all yearc. Tailwinds Airlines, which just had its first stock offeringd. All of the above
Financial accounting is the process ofa. producing budgets and financial documents for managers.b. producing financial documents for outside investors.c. auditing corporate financial statements.d. preparing federal tax returns.
Which is not measured in a statement of cash flows?a. Cash Flow from Salesb. Cash Flow from Investingc. Cash Flow from Financingd. Cash Flow from Operations
Hunter Wentworth is reviewing last quarter’s financial statements and realizes that there has been an increase in working capital. The most likely cause for an increase in working capital is a(n)a. decrease in long-term liabilities and an increase in total assets.b. increase in current assets and
Which of the following reflects a company’s financial leverage?a. Gross profit marginb. Operating profit marginc. Debt-to-equity ratiod. Earnings per share
Maureen found an old barn that would be a perfect location for her restaurant and catering business. She opened a Kickstarter account to begin to raise funds for the business. Maureen is taking advantage ofa. crowdfunding.b. microloans.c. peer-to-peer lending.d. social media investing
Factoring can be a good source of cash by selling accounts receivable.True or False
A risk of using credit cards to finance business activities for a sole proprietor is that a default could ruin the owner’s personal credit.True or False
A project budget includes all the costs necessary to operate an organization, including inventory, sales, manufacturing, marketing, and operating expenses.True or False
A ratio analysis can be used to better compare companies of different sizes.True or False
The statement of cash flows is analogous to a checkbook register because it records the cash generated by a business.True or False
Jason owns a sandwich deli that offers delivery service. Because of the quality of the service and the sandwiches, Jason is experiencing increased demand for his products, especially in his town’s business district. He now wants to buy a food truck to operate from 10:00 am to 2:00 pm in the
The text lists only a few ratios that are used to analyze financial statements. Research three more ratios, explain how they are calculated, and explain why they are important to financial analysis.
What changes did the act bring to companies’ auditing practices?
Discuss whether the act has been successful.
Companies are not the only entities that must create budgets. Cities, states, and other governmental agencies must also prepare budgets, but unlike corporations, they can raise or lower taxes to help balance their budgets. Raising taxes is not always politically popular. Lowering taxes helps get a
Suppose you want to start a business and have decided to finance it with funds raised on a crowdfunding website. Research two or three different crowdfunding sites. What are the similarities and differences between them? Which site would you choose, and why?
Visit job search sites, such as Monster.com, and find postings for financial managers and accountants.What are the job specifications and requirements?What companies are advertising the openings? Are these careers you are interested in pursuing? Why or why not?
Go to the website of a local bank and research its options for short-term business financing. What are the terms of its small business loans and lines of credit?Does it offer other commercial financing options,such as factoring? If you were going to open a small business, how would you go about
Mason recently bought a $10,000 government bond with a 3.5 percent interest rate. For the first two years, his semiannual interest payments were $175, $175, $200, and $200. What kind of government bond would Mason most likely have purchased?a. Treasury billb. Treasury notec. TIPSd. Treasury bond
Which of the following could cause a stock price to change for Sunny Orange Growers, Inc.?a. More investors dislike the stock and sell it than those who like the stock and buy it.b. An unexpected freeze ruins the Florida orange crop for the year.c. The government establishes a tax incentive for all
What document must companies prepare and make available to investors when issuing stocks for the first time?a. A prospectusb. An initial public offeringc. Proprietary underwritingd. Investor guideline sheets
Tracy Quinn feels she has a great investment portfolio. She has investments in technology stocks, banking stocks, and consumer goods stocks. Which type of investment should she use if she is striving for greater asset allocation?a. Foreign stock mutual fundb. S&P Index fundc. Municipal bond fundd.
Jose Fernandez is saving toward retirement and has an investment portfolio that reflects his risk tolerance. It was carefully put together by a trusted investment adviser. Unfortunately, the returns on the portfolio are not projected to generate the type of savings Jose desires. What should Jose
Jeremy wants to invest in companies that have a long history of consistent growth and stability.He should invest in which of the following?a. Blue-chip stocksb. Growth stocksc. Value stocksd. Cyclical stocks
Which of the following describes a security issued by a local government agency?a. Acme, Inc. debenture bondb. Souderton County Water Authority bondc. 10-year Treasury bondd. Fidelity bond fund
If you own a $5,000 bond that has a coupon of 4 percent and pays interest semiannually, how much interest would you receive?a. $200 every six monthsb. $200 once a yearc. $200 every two yearsd. $100 twice a year
Which is not an advantage of investing in mutual funds?a. Mutual funds have less price variability than stocks or bonds.b. Mutual funds provide diversification.c. Mutual fund investments are managed by a professional.d. None of the above.
An ETF isa. a contract that gives a buyer the right to buy or sell a security at a specified price on or before a certain date.b. an agreement between a buyer and seller to buy an asset at a later date at a specified time.c. an investment fund that is valued by its net asset value at the end of a
A person’s risk tolerance might change with more investment knowledge or greater wealth.True or False
Five years ago, Jerome bought 100 shares of Kodak at $60 per share. Last month, he sold the 100 shares at $55 per share. Jerome has a capital gain from the sale.True or False
Treasury notes are bonds that mature in 2, 3, 5, 7, and 10 years.True or False
Common stockholders get paid before preferred stockholders if a firm goes out of business.True or False
Asset allocation is an investment strategy that suggests you structure your portfolio with stocks from different sectors.True or False
List three short- to medium-term financial goals you want to achieve in the next one to five years and an approximate value for each. List three long-term financial goals that you want to achieve in the next 6 to 20 years and an approximate value for each. Discuss how you might be able to achieve
The term blue chip applies to stocks issued by a company in excellent financial standing with a record of producing earnings and paying dividends. Stocks in companies such as GE and Chrysler were initially considered blue chip stocks. Today, stocks in companies that were not in existence when the
The List (p. 000) includes 10 blogs that offer good financial information for young adults. Visit three of these blogs and find one article or piece of content on each that seems relevant to your current financial situation. Summarize the content of the article and discuss how it is meaningful to
At this stage in your life, putting your money in a savings account may be the most you can do.Savings rates are at historically low levels, so it is even more important that you find the most advantageous interest rate for your savings account. Go to Bankrate.com, where you can search and compare
Several investment strategies help investors select stocks. Dogs of the Dow is one of the most publicized strategies. Research this strategy and discuss whether it be a good investment strategy for you.
It is difficult to perfectly time your investments so that you purchase when a stock is at its lowest point or sell when a stock is at its highest point. Research the investment strategy of dollar cost averaging. In a paragraph, describe what this strategy is, why it is used, and the advantages and
Municipal bonds are issued by local and state governments and other municipal organizations, such as school districts and toll road authorities. Conduct online research to determine the municipal bonds that the state in which you live has issued. Research two of these municipal bond projects. What
In 2017, the U.S. government was $20 trillion in debt. Should the government print money to pay off the debt? What effect would such a strategy have on consumers and business?
The Fed is supposedly non-political body. Do you agree with this observation? Do you think it should be, or shouldn’t be? Why?
Why are online retailers taking so much market share from the traditional brick-and-mortar stores?
Do you think that legacy stores such as Macy’s and even WalMart will be able to compete with online stores in the future? How would they have to change in order to be more competitive?
How have changes in physical distribution changed the marketplace? How has the marketplace changed the distribution networks?
What kinds of products do you think you would find in Anderson’s “long tail”? Give examples.
Why should companies be concerned about hackers?

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Business Essentials 12th Edition Ronald Ebert, Ricky Griffin - Solutions

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