How does marketing research help managers make decisions?
What will be an ideal response?
ANSWER: Marketing research can help managers in several ways. First, it improves the quality of decision making, allowing marketers to explore the desirability of various alternatives before arriving at a path forward. Second, it helps managers trace problems. Was the initial decision incorrect? Did an unforeseen change in the external environment cause the plan to fail? How can the same mistake be avoided in the future? Questions like these can be answered through marketing research. Third, marketing research can help managers understand very detailed and complicated relationships. Most importantly, sound marketing research can help managers serve their customers accurately and efficiently. Marketing research also helps managers gauge the perceived value of their goods and services, as well as the level of customer satisfaction.
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Which part of the presentation reminds the audience what you want listeners to do or think?
A) Introduction B) Final remarks C) When you end with clarity and confidence D) When you restate your main points E) During the presentation close
A company manufactures and sells a product for $120 per unit. The company's fixed costs are $68,760, and its variable costs are $90 per unit. The company's break-even point in sales dollars is:
A. $2,292. B. $68,760. C. $275,040. D. $206,280. E. $91,680.
Which of the following inventory costing methods yields the highest net income during a period of rising inventory costs?
A) specific identification B) weighted-average C) last-in, first-out D) first-in, first-out
Which of the following is usually NOT a reason to hold inventory?
a. to drive up price b. to smooth out fluctuations in production c. to hedge against variations in demand and supply d. to decouple one step in the production process from another