Which of the following is a characteristic of debtor-creditor relationships: A. Designed to monitor accounts

1. Which of the following is a characteristic of debtor-creditor relationships: • A. Designed to monitor accounts • B. Controlled by industry standards C. Intended to increase competition • D. Regulated by various laws

2. The answer is D. There are several laws that regulate the use of credit. These laws are intended to guarantee that credit is managed fairly. The laws tend to improve the debtor-creditor relationship.

3. 2. Which of the following is a benefit of the business-formal franchise arrangement? • A. Strict operating hours. • B. Reduced risk of failure • C. Limited number of vendors • D. Uniform store appearance.

4. Answer • The answer is B. This type of assistance reduces the franchisee’s risk of business failure.

5. 3.The total number of members in a channel is called ________ • Channel length • Distribution intensity • Distribution pattern • Channel width

6. Answer The correct answer is A because channel length may be long or short depending on what makes the most economic sense. Channel width refers to the number of middlemen available at the same level of a channel.

7. 4. For which of the following markets would producers use a short channel of distribution: A. Baby Boomers C. Local consumers B. Generation X D. Senior citizens

8. The Answer is C (Local consumers.) A short channel can be used when the potential customers are few and/or located close together. The baby boomer, senior citizen, and generation X markets have many potential customers who are widely dispersed.

9. Question 5

10. Channel members sharing inventory and order-processing info through databases and computer systems is an example of the use of technology in….. • A.Pricing B. planning • C. distribution D. promotion

11. Its C distribution • Uses technology for storage, product handling, inventory control. • Used technology to plan. • Often used to verify credit

12. Marketing Cluster Exam Question 6 & 7

13. It Important for the JBH Company to advise all of its channel members about sales promotion that it plans to hold next month so the… Question 6 A) Risk of inventory b) Transporter can hire more C) Company can avoid inventory D) Capacity to regulate change This is a bull

14. Answer D So that they can insure that increase of demand form the product to keep up the demanded

15. Question 7 Ability to provide training. Personality to develop friendships. Authority to demand cooperation. Capacity to regulate change One reason a channel of distribution that has strong leadership is often able to avoid conflict within the channel because the leader has…

16. Answer C Strong leaders have the authority and power to influence and direct the action of others.

17. Questions 8,9, 10 Chan MitchareuneSinjin KirkpatrickAustonBodine

18. Question #8 In a weekly staff meeting, Morgan presents a set of new procedures that she believes will improve the department’s productivity levels. Jacob disagrees with Morgan’s approach and provides an alternative for improvement. Although Morgan agrees with a couple of Jacob’s points, she still thinks her plan will be better for the company in the long run. How can Morgan effectively defend her idea for improvement?

19. Answers • Tell Jacob that most of his ideas are weak and restate her suggestions. • Present supporting research for her suggestions in an unbiased way. • Request that the group meet again, so she has time to come up with new ideas. • Ask the other members of the group for their input and ideas

20. Correct Answer: B • The question asks how Morgan can defend her ideas. “A” doesn’t include her defending her ideas, just restating them. “C” does not consist of her defending her ideas yet. “D” would make the other members of the group defend her ideas, not Morgan herself.

21. Question #9 Employees should answer the telephone in a businesslike manor in order to…

22. Answers • be a candidate for a promotion • Reflect the importance of the job • handle a lot of calls at one time • project the image of the business

23. Correct Answer: D When an employee answers the phone, they give the first impression of how the company handles customer service.

24. Question #10 Before organizing an oral presentation, the presenter should…

25. Answers • gather information from a variety of sources • determine the size of the audience • determine the purpose or nature of the message • prepare appropriate visual aids

26. Correct Answer: C The speaker has to know the purpose of the message before they can gather information and visual aids or determine the size of the audience.

27. Marketing Cluster Exam Problem #’s: 11, 12, 13. Kori Rivera, Devan Baltus, and Desiree Porter

28. Problem #11 • What does an enclosure notation at the bottom of a business letter signify? A. Something is being sent with the Letter. B. Copies of the letter were sent to others. C. The sender wishes for a reply. D. The sender prepared the letter.

29. Solution • What does an enclosure notation at the bottom of a business letter signify? A. Something is being sent with the Letter. B. Copies of the letter were sent to others. C. The sender wishes for a reply. D. The sender prepared the letter. The Word “enclosure” at the bottom of the page indicates that other material accompanies letter. This lets the recipient know s/he should look for additional material. Explanation:

30. Problem #12 • Which of the following is an example of persuasive messages that businesses write: A. Interoffice memo B. Electronic mail C. Handwritten note D. Collection letter

31. Solution • Which of the following is an example of persuasive messages that businesses write: A. Interoffice memo B. Electronic mail C. Handwritten note D. Collection letter A collection letter is a type of persuasive message that many businesses will write to customers who are delinquent in making payments on their accounts. Explanation:

32. Problem #13 • Which of the following is a reason why it is important for businesses to have effective staff communication: A. To promote social interaction B. To encourage personal relationships C. To develop business contacts D. To help employees do a good job

33. Solution • Which of the following is a reason why it is important for businesses to have effective staff communication: A. To promote social interaction B. To encourage personal relationships C. To develop business contacts D. To help employees do a good job Explanation: Employees need to receive accurate directions and instructions on what is expected of them in order to do their jobs correctly. Supervisors need to be able to communicate this information to employees and be able to answer any questions.

34. TEAM KOLE Also Tristan & Sara

35. Question 14 • When employees strive to see things from the customer’s viewpoint, it helps the business build positive customer/clients relations because the employees are…… • A) resourceful • B) empathetic • C) knowledgeable • D) accommodating

36. Answer: B • EMPATHETIC. • Ability to relate to another person’s thoughts, feelings, & experiences. • Important part of building positive customer/client relations involves the way business’s employees treat customers.

37. Question 15 • When customers complain, what is the general rule that business personnel follow in order to assure that customers receive fair and consistent treatment? • A) customer complaint plan • B) store procedure • C) customer service plan • D) store policy

38. Answer: D • STORE POLICY. • Business has policies for its employees to follow in handling complaints, customers are more likely to receive same treatment • Procedures are the step-by-step processes that personnel follow in performing specific tasks

39. Question 16 • Which of the following is an example of an economic good: • A) Guitar Lessons • B) Medical Exam • C) Automobile • D) Photo developing

40. Answer: C • AUTOMOBILE. • In order for something to be an economic good, must be physical object, capable of satisfying human wants and needs, and have monetary value.

41. Exam prepBy: Brandon Boyle, Brianna Armijo, Kirk Steel, Linus Voss

42. #17: For long-term success of the business, Stacey’s Steamers has decided to add a self-serve Laundromat. Which of the following describes activity Stacey’s Steamers is likely involved in: • A. Organizing itself for meeting its objectives • B. Establishing a system for retrieving information • C. Promoting its new service to potential customers • D. Determining what will put in reach of its goals

43. The Correct Answer Is……….. • D. Determining what will put in reach of its goals

44. #18: Laws that prohibit the sale of unsafe products are examples of factors that • A. Limit economic freedom • B. Promote competition • C. Increase Production • D. Reduce inflation

45. The Correct Answer Is……….. • A. Limit economic freedom

46. #19: Purchasing insurance to cover business risks is an example of business risks’ being handled through • A. Retention • B. Avoidance • C. Transfer • D. Prevention

47. The Correct Answer Is……….. • C. Transfer

48. #20: Increased consumer spending indicates that the economy is stable and growing because increased spending leads to an increase in • A. Unemployment levels • B. Interest rates • C. Demand for products • D. Scarcity of resources

49. The Correct Answer Is……….. • C. Demand for products

50. #21: A worker who completes a transaction in which money changes hands but no receipts are kept and the income is not reported to the government is participating in • A. Double counting • B. The underground economy • C. Accuracy in counting • D. An uncounted production