The Bitty-Baby Store wants to update its way of doing business from the methods of the sales era to the more current methods of the marketing concept. Which of the following tactics will not be a step in the right direction?
A. Creating cross-departmental teams to generate more new-product ideas
B. Doubling its advertising budget to reach its customers more frequently
C. Attempting to obtain more information from present customers
D. Finding new distribution methods that improve delivery times
E. Modifying pricing structures to increase sales
Answer: B
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Which one of the following statements regarding sales discounts is correct?
A. A sales discount is subtracted from Sales Revenue whereas a purchase discount is added to Cost of Goods Sold. B. Credit terms of "2/10, n/30" means that if payment is made in two days, a 10% discount may be taken; if not paid within two days, the full invoice price will be due in thirty days. C. The terms "sales discounts" and "purchase discounts" are used interchangeably by a company. D. If a company offers a discount to encourage prompt payment and the discount is taken, the discount reduces the amount of net sales.
VALS FrameworkVALS creates profiles of people based on their primary motivation and resources. In the VALS framework above, C refers to
A. Self-Expression. B. Ideals. C. Survivors. D. Achievement. E. Innovators.
A contract pledging title to assets as security for a note or bond is known as a(an):
A. Lease. B. Mortgage. C. Sinking fund. D. Indenture. E. Equity.
Which of the following statements is true when there is a defect in design of a product?
A) There was a failure to provide adequate instruction on use of the product. B) There was a failure to warn customers about the possible dangers of using the product. C) A single item is defectively designed, and it has the potential to cause injury. D) All the products are defectively designed and have the potential to cause injury.