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business
introduction e-business management
Business Principles And Management 12th Edition James L. Burrow, Kenneth E. Everard, Brad Kleindl - Solutions
How can a management information system contribute to resolving this situation?
How would you suggest that A’yanna proceed in this situation?
What are some alternative solutions?
List the symptoms of the problems. Explain why you believe the things you listed are symptoms rather than problems.
What are some possible problems in this situation? Identify problems that could be occurring in the accounting department as well as in other departments of the company.
For each problem identified in the data collection section above, select the solution you believe is likely to be most effective. Then develop a written set of procedures to follow to accomplish each solution and prevent the problem from occurring.
Under the list of activities developed above, estimate (a) how much time you will need to devote to each activity and (b) when you will need to complete each activity during a typical month. Then develop a sample monthly calendar on which you schedule management activities.
Develop a chart with four headings: Planning, Organizing, Implementing, and Controlling. Under each heading, list the activities you will need to complete to manage your juice bar effectively.
Businesses that sell directly to final consumers
Keeping the needs of the consumer uppermost in mind during the design, production, and distribution of a product
Emphasizing widespread distribution and promotion to sell products
Types of buyers a business wishes to attract and where those buyers are located
The study of a company’s current and prospective customers
Groups of customers with very similar needs to whom the company plans to sell its product
All attributes, both tangible and intangible, that customers receive in exchange for the purchase price
Detailed written description of all marketing activities that a business must accomplish to sell its products
Set of activities required to transport and store products and make them available to customers
Blend of all decisions related to the four elements of marketing—product, price, distribution, and promotion
Amount of money given to acquire a product
Product life cycle stage in which several brands of the new product are available
Businesses that buy products from businesses and sell them to other businesses are calleda. industrial companiesb. marketers’ retailersc. wholesalersd. retailers
A ________ producer concentrates on making more kinds of products in greater quantities.a. production-orientedb. sales-orientedc. market-orientedd. product-oriented
The four stages of sales and profit performance through which a product progresses are called thea. product categoriesb. marketing mixc. product life cycled. product evolutionary cycle
In the _______ stage, a brand-new product enters the market and there is only one brand of the product available for consumers to purchase.a. introductionb. growthc. maturityd. decline
In the _______ stage, there are many competing brands with very similar features and customers have a hard time identifying differences among the brands.a. introductionb. growthc. maturityd. decline
Inexpensive items that consumers purchase regularly without a great deal of thought are calleda. convenience goodsb. consumer goodsc. shopping goodsd. specialty goods
Providing money for various marketing activities, such as by obtaining credit when buying and extending credit when selling, is calleda. granting creditb. setting pricec. financingd. risk taking
Describe the ways that trucking companies, banks, and warehouses are marketing businesses.
Explain why it is important to conduct market research to determine the markets to be served before deciding what to produce and sell.
Describe how customers might know if a company has a customer orientation rather than a sales orientation.
What are some examples of goods or services that would sell well only in specific geographic locations?
Describe how the price is influenced by the other three elements of the marketing mix. What could a marketing manager do with other mix elements to increase or decrease a product’s price?
Math Complete the following table for the four products listed by determining the total cost of each product and the percentage of the final product price that was spent on marketing.Product 1 Product 2 Product 3 Product 4 Retail Price $45.20 $576.00 $32,750.00 $4.80 Raw Materials 6.20 28.00
Research Interview 10 people to determine how they purchase jeans.Ask each of them the following questions: Where do you usually buy your jeans? What product features are important to you? How important is price in your decision to purchase jeans? Do you usually buy one brand? Do you usually look
Speaking Participate in a debate with other class members. Your teacher will assign you to one side of the issue or the other and will give you specific instructions and guidelines. The issue is: Marketing causes people to spend money for things they otherwise would not buy and do not need. Do you
Technology Use the Internet to find examples that illustrate each of the four elements of the marketing mix—product, price, distribution, and promotion. Use presentation software such as PowerPoint to link to examples and to the concept of a marketing mix.
Physical product in its simplest form
Product that includes additional features that are not part of the physical product but increase its usability
Group of similar products with obvious variations in the design and quality to meet the needs of distinct customer groups
Routes products follow while moving from producer to consumer, including all related activities and participating organizations
Complete set of all products a business offers to a market
Differences between a business’s offerings and the consumer’s requirements
Businesses that participate in activities that transfer goods and services from the producer to the user
Distribution in which producers sell directly to the ultimate consumer
Distribution that takes place through channel members
Channel in which one organization takes a leadership position to benefit all channel members
A product that offers different features and options for the consumer is a(n)a. augmented productb. branded productc. enhanced productd. total product
One of the most popular methods of direct distribution combines telephone sales with computer technology and is calleda. direct marketingb. online marketingc. phone salesd. telemarketing
A distribution channel in which one business owns organizations at other levels of the channel is a(n)a. administered channelb. channel integrationc. channel captaind. channel linkage
Packing products in large shipping containers at the factory and shipping them by a variety of transportation methods isa. multishippingb. containerizationc. factory shippingd. piggybacking
Which of the following are functions of packaging?a. protecting productsb. providing information to customersc. making the product easier to used. All of the above are functions of packaging.
The type of distribution in which a sales rep calls on a person or a company sends material directly to a customer is calleda. direct distributionb. indirect marketingc. telemarketingd. database marketing
The preferred low-cost transportation system used to move heavy and bulky items isa. air freightb. ocean freightc. raild. trucks
Identify a company with a product that has an extensive product line. Identify specific products that are part of the product line.Then describe the differences among those products and why they meet different customers’ needs.
For a product with which you are familiar, describe ways that the packaging improves sales and usability. Now identify examples of packaging that interferes with sales and usability.
Make a list of products you have purchased that were probably stored for a length of time before you purchased them. Then make a similar list of products that were not stored or were stored only a short time before you purchased them. Discuss the differences among the products.
Provide examples showing that the ways in which consumers purchase a product influence the type of distribution channel used.
Discuss the problems businesses and consumers might encounter with product distribution and order processing when the Internet is used for selling and buying.
Math An appliance store can purchase a certain brand of electric heater for $45.00 from a firm in City A or for $48.50 from another firm in City B. The transportation cost from City A is $3.88 per heater. From City B, the transportation cost is $2.77 per heater.What is the difference in cost
Technology A student organization to which you belong has decided to sell containers of bottled water at after-school activities, athletic events, and other functions as a fund-raiser. Your organization made an agreement with the supplier that allows you to design a unique package for the water
Writing Assume you work for a company located in Utah that manufactures children’s toys and games. Your potential customers are located throughout the world. Write a one-page report stating the ways in which you can use each of the following methods to improve customer service or profitability:
Research Use the Internet to identify two companies that specialize in shipping products. List the services they offer and describe how they specialize. Compare your answers to those of other students.
Initial price that the seller posts on a product
Price reduction given for paying by a certain date
Cost to produce a product or buy it for resale
Difference between the selling price and the cost of goods sold
Promotion through direct, personal contact with a customer
Methods of delivering a promotional message to the audience
The reasons people buy
Any promotional activities other than advertising and personal selling intended to motivate customers to buy
Difference between the selling price and all costs and expenses of the business
Providing all information necessary for consumers to make an informed decision
Ability to prove all claims made about a product or service in promotions
Requiring a company to stop using specific advertisements
A price reduction that manufacturers give to their channel partners, such as wholesalers or retailers, in exchange for additional services is aa. manufacturer’s discountb. trade discountc. sales promotiond. wholesale discount
Reductions taken from the price of a product to encourage customers to buy is known as aa. selling priceb. markdownc. markupd. trade discount
A price reduction offered for ordering or taking delivery of products in advance of the normal buying period to encourage buyers to purchase earlier than necessary or at a time when orders are normally low is called a(n)a. quantity discountb. seasonal discountc. annual discountd. special discount
The costs of operating a business, not including costs involved in the actual production or purchase of merchandise, are thea. cost of goods soldb. normal expensesc. operating expensesd. operating costs
If a company violates federal law by “misleading in a material respect” or in any way that could influence the customer’s purchase or use of the product, it could be forced toa. cease and desistb. use corrective advertisingc. pay a fined. all of the above
Subtracting any discounts from a product’s list price yields the actual price customers pay for the product, or itsa. actual priceb. sale pricec. selling priced. trade price
Advertising designed to change false impressions left by misleading information is calleda. corrective advertisingb. false advertisingc. normal advertisingd. misleading advertising
Explain why it is important for businesses to consider both the customer and the business when planning the sale of products.
Using the formula for calculating net profit, suggest several ways that a business can increase the net profit from the sale of a product.
Which advertising media do you believe are most effective for the products you purchase? Why? Would the same media be most effective for advertising the products your parents buy? Why or why not?
Explain why high-technology products are often sold initially at very high prices but later at prices that have dropped dramatically.
Why do you believe that closing the sale is the most difficult step of the selling process for many salespeople? As a customer, what would you recommend to salespeople to make that step easier and more successful?
Math A book and gift store with average annual sales of $700,000 spends 3 percent of its sales for advertising. The store’s advertising budget is divided as follows: catalogs, 30 percent; calendars and other sales promotions, 7 percent; window displays, 15 percent;newspaper advertising, 15
Research Use the Internet to identify the cost of ad placement in a number of media. Identify the cost per thousand (cost/1,000 people reached) for each medium. Identify which media have a higher cost.Specify why these media are able to charge a higher price.
Technology Use the Internet to find online examples of each of the following types of advertising: static banner, interactive banner, button, sponsored site, and affiliate listing with another Internet site. Using a screen capture, take an example of each online advertisement you find and prepare a
Speaking Assume that you are a salesperson in a furniture store.Develop a list of the buying motives you believe might be prompting each of the following types of customers to consider buying a sofa sleeper: (a) a college student who is buying furniture for a one-bedroom apartment, (b) a family
Confidential personal problem-solving, counseling, and support services for employees
State-managed program that provides temporary income to individuals who have been laid off from their jobs
Advancement of an employee within a company to a position with more authority and responsibility
Employer-provided insurance for the death, injury, or illness of employees that result from their work
Temporary or permanent reduction in the number of employees because of a change in business conditions
Performance feedback gathered from a broad range of people with whom an employee works rather than from just the employee’s manager
Federal law that prescribes standards for wages and overtime pay
Rate at which people enter and leave employment in a business during a year
List of the qualifications a worker needs to do a specific job
All activities involved with acquiring, developing, and compensating the people who do the company’s work
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