What is marketing and why is it important?
What will be an ideal response?
Marketing is all the activities involved in determining the product to offer, the price at which it should be offered, how to inform customers about the product, and how to get the product in the customers’ hands. Organizations need to able to create exchanges between themselves and the purchasers of those products in order to satisfy both the organization’s needs and objectives as well as those of the purchaser. Marketing should create utility, which is the ability of the product to satisfy the needs of the customer.
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Which of the following determines the nature of procurement of raw materials, transportation of materials to and from the company, manufacture of the product or operation to provide the service,
and distribution of the product to the customer along with follow-up service? A) Competitive strategy B) Product development strategy C) Marketing and sales strategy D) Supply chain strategy
Recently the Canadian dollar realized an unexpected appreciation in value
Which of the following actions being considered by Tall Timber Exports, a Canadian logging firm specializing in exporting raw forest products, would be considered a highly unlikely response to the appreciation of the Canadian dollar? A) Tall Timber Exports might lower export prices in an effort to maintain market share. B) Tall Timber Exports might raise export prices only slightly in an effort to increase market share. C) Tall Timber Exports might leave export prices as they are and wait to determine what actions to take if any in the future. D) all of the above
Which of the following is not a characteristic of a public assistance program benefits?
A) Based on demonstrated need B) Subject to change C) Fully funded D) Funded by general taxes
All of the following are reasons why employee empowerment is not universally embraced except:
A. Empowering employees was attempted before, and it failed. B. Employees are not able to make responsible decisions. C. Managers fear the loss of power, control, and authority. D. Empowered employees displace too many managers.