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- Question
Consumer protection laws are meant to
- Correct Answer
- Protect the consumer from the seller who cheat to sell his product The FTC?s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and responsibilities
- 1. What is innovation in marketing? Discuss
- 2. Market survey means...........
Options- A. Market Research
- B. Market Planning
- C. Marketing Strategies
- D. Market Monitoring Discuss
- 3. Which of the following is an example of market failure?
Options- A. Prices do not reflect the full social cost of production
- B. A firm goes out of business because it cannot find a market for its products
- C. Prices rise so that the consumers cannot afford the products they want to buy
- D. Producer surplus is maximized Discuss
- 4. What is Inbound and outbound marketing? Discuss
- 5. What is multi - level marketing (MLM)? Discuss
- 6. Which of the following is not a selling expense?
Options- A. Freight-out
- B. Advertising expense
- C. Store supplies
- D. Office salaries expense Discuss
- 7. What does destination scan mean?
Options- A. The shipment has arrived at a UPS facility.
- B. The shipment has departed a UPS facility and is on its way to the next UPS facility.
- C. The shipment has arrived at the local UPS facility responsible for final delivery.
- D. UPS has received the shipment. Discuss
- 8. In-transit to destination or out for delivery means Discuss
- 9. A supply curve slopes upward because
Options- A. an increase in price gives producers an incentive to supply a larger quantity.
- B. the quantity supplied of most goods and services increases over time.
- C. an increase in input prices increases supply.
- D. as more is produced, total cost of production falls. Discuss
- 10. The relationship between quantity supplied and price is
Options- A. Directly proportional
- B. Inverselyproportional
- C. Can't be determined
- D. None of the above Discuss
Marketing and Sales problems
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Correct Answer: Innovation is generally considered a process that brings together various novel ideas in a way that they have an impact on society It differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better
Correct Answer: Market Research
Correct Answer: Prices do not reflect the full social cost of production
Explanation:
Prices do not reflect the full social cost of production is an example of Market failure.
A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants.
It also occurs if externalities are not accounted for.
If a firm fails to maximize its profits this is not a general market failure.
Correct Answer: Inbound Marketing : Inbound marketing refers to marketing activities that bring visitors in, rather than marketers having to go out to get prospect's attention 1 Communication is interactive and two-way 2 Customers come to you via search engines, refferals and social media 3 Marketers provide value 4 Marketers seek to entertain and/or educate 5 It is a cheaper way of marketing 6 It is the new trend in marketing 7 People are more in control of what information they receive and how Outbound Marketing In Outbound marketing the company contacts the customer through a message It uses offline methods such as trade shows, mails to customers and calling customers 1 Communication is one-way 2 Customers are sought out via print, TV, radio, banner advertising and cold calls 3 Marketers Provide little to no added value 4 Marketers rarely seek to entertain or educate 5 It is expensive compared to inbound marketing 6 It is one of the traditional methods of marketing 7 In outbound marketing company is in control
Correct Answer: It is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit This recruited sales force is reffered to as the participant's 'downline' , and can provide multiple levels of compensation Other terms used for MLM include pyramid selling, network marketing and refferal marketing Most commonly, the salespeople are expected to sell products directly to consumers by means of relationship referrals and word-of-mouth marketing
Correct Answer: Office salaries expense
Explanation:
Office salaries expense would not come under a selling expense.
Correct Answer: The shipment has arrived at the local UPS facility responsible for final delivery.
Explanation:
Shipment movement information is captured each time a tracking label is scanned in the UPS delivery system. There may be several days between scans if the shipment is going cross-country or moving between countries.
Destination Scan: The shipment has arrived at the local UPS facility responsible for final delivery.
Arrival Scan: The shipment has arrived at a UPS facility.
Departure Scan: The shipment has departed a UPS facility and is on its way to the next UPS facility.
Origin Scan: UPS has received the shipment.
Correct Answer: When you give your item to the USPS for delivery, it accepts your item and starts the process of delivery Transit is a part of the shipment delivery process When we say that the package is in the transit or in transit to the destination, it means that the package is on the way to the delivery
Correct Answer: an increase in price gives producers an incentive to supply a larger quantity.
Explanation:
The supply curve slopes upward because for reflecting the higher price needed to cover the higher marginal cost of production.
Correct Answer: Directly proportional
Explanation:
Price and quantity supplied move in the same direction. As the price decreases, quantity supplied also decreases and viceversa.
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