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business
understanding business ethics
Understanding Business 13th Edition William Nickels, Jim McHugh, Susan McHugh - Solutions
Describe the role of the public relations department, and show how publicity fits in that role.
Assess the effectiveness of various forms of sales promotion, including sampling.
Show how word-of-mouth promotion, viral marketing, social networking, blogging, podcasting, e-mail marketing, and mobile marketing work.
Identify a target market. (Refer back to Chapter 13 for a discussion of segmentation and target marketing.)
Define the objectives for each element of the promotion mix. Goals should be clear and measurable.
Determine a promotional budget. The budgeting process will clarify how much can be spent on advertising, personal selling, and other promotional efforts.
Develop a unifying message. The goal of an integrated promotional program is to have one clear message communicated by advertising, public relations, sales, and every other promotional effort.
Implement the plan. Advertisements, blogs, and other promotional efforts must be scheduled to complement efforts being made by public relations and sales promotion.Salespeople should have access to all materials to optimize the total effort.
Evaluate effectiveness. Measuring results depends greatly on clear objectives.Each element of the promotion mix should be evaluated separately, and an overall measure should be taken as well. It is important to learn what is working and what is not.
What are the three most important advertising media in order of dollars spent?
What are the seven steps in the B2B selling process? How does it differ from the B2C selling process?
What are the three steps in setting up a public relations program?
What are five sales promotion techniques used to reach consumers?
What sales promotion techniques are used to reach businesses?
What are blogging and podcasting?
What is promotion?
What are the four traditional promotional tools that make up the promotion mix?
What is advertising?
What are the advantages of using the various media?
Why is the use of infomercials, online advertising, and social media advertising growing?
What are the seven steps of the B2B selling process?
What are the steps in the B2C selling process?
What is public relations?
What are the three major steps in a good public relations program?
What is publicity?
How are sales promotion activities used both within and outside the organization?
Is word of mouth a major promotional tool?
How is word of mouth used in promotion today?
What other promotional tools can marketers use to promote products?
What are the major promotional strategies?
What kinds of problems can emerge if a firm doesn’t communicate with environmentalists, the news media, and the local community? Do you know of any firms that aren’t responsive to your community? What are the consequences?
How often do you buy online? If you don’t actually buy, do you use the Internet to compare goods and prices? Do you or your friends take advantage of low prices on used goods on eBay or other online sites like Craigslist? Do you look at ads on the Internet?Do they seem to be effective?
How have blogging, podcasting, and social media affected other media you use, like newspapers or television? Do you read print newspapers now or do you get your news some other way? Do you watch programs on TV or on other devices? How has the move away from print and network television affected
On what website does Petplan offer live chats? How does having the live chat on a website other than its own benefit the company and its customers?
SnapEngage offers live chats in a way that we wish more companies would. What is it, and how effective do you think it is in keeping viewers on its site instead of moving on somewhere else?
How do each of the companies’ website chats help them develop stronger relationships with their customers?
Using at least two different media—a newspaper, magazine, television, radio, online—choose two ads you consider effective and two you find ineffective. Be prepared to explain your choices based on what you have learned in this chapter.
Scan your local newspaper or search online for examples of publicity (stories about new products) and sales promotion (coupons, contests, sweepstakes). Share your examples and discuss the effectiveness of such promotional efforts with the class.
Many students shy away from careers in selling, often because they think they are not outgoing enough or that salespeople are dishonest or pushy. Prepare a one-page document about your experience with salespeople and describe how they used one or more of the selling strategies covered in this
In small groups, discuss whether you are purchasing more goods using brick-and-mortar stores or online and why. If you shop at brick-and-mortar stores, do you look up information online before buying goods and services? How helpful are such searches?Present your findings to the class.
In small groups, list six goods and services most students own or use and discuss promotional techniques that prompt you to buy them: advertising, personal selling, social media, publicity, sales promotion, or word of mouth. Which seems most effective for your group? Why?
What are the differences between publicity and advertising?
How does a sales promotion activity such as the loyalty program help ensure continued customer support?
Is Zappos likely to increase or decrease its use of social media in its promotion mix? Why?
Demonstrate the role that accounting and financial information play for a business and its stakeholders.
List the steps in the accounting cycle, distinguish between accounting and bookkeeping, and explain how computers are used in accounting.
Explain how the major financial statements differ.
Demonstrate the application of ratio analysis in reporting financial information.
Identify the different disciplines within the accounting profession.
What are the six steps of the accounting cycle?
What is the difference between bookkeeping and accounting?
What are journals and ledgers?
How do computers help accountants?
What are the major accounts of the balance sheet?
What are the four key categories of ratios?
What is the major value of ratio analysis to the firm?
How does financial accounting differ from managerial accounting?
What is the job of an auditor?
What is the difference between a private accountant and a public accountant?
Why must accounting reports be prepared according to specific procedures (GAAP)?Would it be a good idea to allow businesses some flexibility or creativity in preparing financial statements? Why or why not?
Why is cash flow analysis more important to small and medium-sized businesses than to large multinational companies?
Why is it important for not-for-profit organizations to have top managers that have strong finance and accounting skills?
What are the key differences in working for business, industry, or government as opposed to public accounting?
Does a large, international accounting firm seem appealing to you? What is the primary attraction of such firms? What’s the major downside?
Summarize your personal career plan and offer a short explanation why you chose each option you selected.
Go to the website of the American Institute of Certified Public Accountants (aicpa.org)and find the requirements for becoming a certified public accountant (CPA).
Go back in time and read about the fraudulent accounting practices that led to passage of the Sarbanes-Oxley Act of 2002. Then travel forward and explore the causes of the financial crisis that began in 2008 that led Congress to pass the Dodd-Frank Wall Street Reform and Consumer Protection Act.
What’s the difference between assets and liabilities?Which of the key financial statements features these categories prominently?
Identify the six steps in the accounting cycle.
Why do many Taco Bell managers take special pride in supporting workers through the company’s educational programs?
How does Taco Bell’s Live Más Scholarship differ from traditional scholarship programs?
What are the benefits of Taco Bell’s educational initiatives both for employees and the company?
Herzberg concluded that pay was not a motivator. If you were paid to get better grades, would you be motivated to study harder? In your employment experiences, have you ever worked harder to obtain a raise or as a result of receiving a large raise? Do you agree with Herzberg about the effects of
Think of all the groups with which you have been associated over the years—sports groups, friendship groups, and so on—and try to recall how the leaders of those groups motivated the group to action. Did the leaders assume a Theory X or a Theory Y attitude? How often was money a motivator? What
One managerial idea is to let employees work in self-managed teams. There is no reason why such teams could not be formed in colleges as well as businesses. Discuss the benefits and drawbacks of dividing your class into self-managed teams for the purpose of studying, doing cases, and so forth.
Look over Maslow’s hierarchy of needs and try to determine where you are right now on the hierarchy. What needs of yours are not being met? How could a company go about meeting those needs and thus motivate you to work more effectively?
Talk with several of your friends about the subject of motivation. What motivates them to work hard or not work hard in school and on the job? How important to them is self-motivation as opposed to external reward?
Sometimes a personality test does not accurately identify your personality, but it may give you a place to start looking for a portrait that fits. After you have read the portraits on the website, ask a good friend or relative which one best describes you.
After you identify your personality type, read the corresponding personality portrait.How well or how poorly does the identified personality type fit?
What are some common characteristics of Millennials and Gen Zers?
How are Generation X managers likely to be different from their Baby Boomer predecessors?
What is the difference between high-context and low-context cultures?
How can managers encourage open communication?
How does open communication improve employee motivation?
Name two forms of job enrichment that increase motivation.
What characteristics of work affect motivation and performance?
According to equity theory, employees try to maintain equity between inputs and outputs compared to other employees in similar positions. What happens when employees perceive that their rewards are not equitable?
What are the key elements of expectancy theory?
What is the basis of expectancy theory?
What is management by objectives (MBO)?
What is goal-setting theory?
What is Theory Z?
What is Theory Y?
What is Theory X?
Who developed Theory X and Theory Y?
What are the hygiene (maintenance) factors?
What are the factors called motivators?
What is the difference between Frederick Herzberg’s motivator and hygiene factors?
Can managers use Maslow’s theory?
What levels of need did Maslow identify?
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