Final Deca exam

Why do businesses want to meet quality standards?

Why do businesses want to meet quality standards?

To reduce costs

One of the purposes of the situational analysis component of a marketing plan is to determine a business's

current weaknesses.

In what stage of a product's life cycle would a company spend the least amount of money on promoting the product?

Declining

All existing goods and services began with a(n)

Ideas

When Elliot was tabulating marketing research data, he transposed some numbers as he was converting raw data into numerical values. What type of error occurred?

Recording

Word-of-mouth marketing is based on the idea that

Consumers trust each other more than brands

Which of the following is a belief you should have about your own behavior if you want to be assertive

You have the right to choose the way you respond to your circumstances

When an individual invests in a mutual fund they are?

Pooling their money with other investors

When developing promotional activities, a business should consider how to accomplish its goal of attracting consumer attention in an effective and __________ way.

Tasteful

PetFast pet store is known for its low prices and great value. The store frequently advertises its weekly sales, during which customers can get bulk pet foods for discounted prices. This is an example of corporate

Positioning

In a free-enterprise economic system, promotional practices are often subject to regulation by governmental systems, consumer groups, and __________ organizations.

Industry

When writing informational messages, business employees should explain the situation and include sufficient data for the recipient to be able to

Make a decision

To write text on your web page, you need to use_____ software

Web-editing

Technology is important to the product/service management function because it helps a business

Monitor inventory

A situation analysis reveals that Pullman Industries will need to increase its minimum wage to $9.30 per hour in three months or face severe government fines for noncompliance. This is an example of a _________ factor that affects businesses.

Regulatory

What question does establishing a sampling plan for a research project answer?

How many people to survey

Which of the following research designs would be best suited to determine the reach of an advertisement in a particular target market:

Survey

A pharmaceutical company accidentally included a mildly poisonous substance in a popular over-the-counter drug. As a result, many users got sick and the company was faced with a lawsuit. Which of the following torts was most likely cited as a reason for the lawsuit:

Negligence

What should researchers consider when evaluating the design of questionnaires?

Type of questions

Akua is in charge of supervising the entire process of getting products into the marketplace, otherwise known as the flow of goods. Akua's job title is most likely

Supply chain manager

How research will be conducted depends on a business

Size and resources

Which of the following is the type of branding that differentiates an organization from its competitors:

Corporate

One way that the gross domestic product (GDP) can be increased is by

increasing labor and capital resources.