ULTIMATE MARKETING STUDY GUIDE Pt. 2 – Flashcards
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As the chief financial officer of Bockian's Bookstores, Incoporated, Merisela monitors the companis financial status. She also meets with other company officers to decide the direction the company will take to meet customer needs and increase profits. What team does Merisela belong to?
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Top Management
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What is the source of direction for the company in horizontally organized companies
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the customers
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Faro illustrated children's books for a large publishing house. Her illustrations were original and charming, but very different from the types of drawings the company preferred. Eventually, Faro left the company for a job with another publishing form where her unique illustrations are eagerly accepted and her salary is twice what is was. At her second job, what is Faro rewarded for?
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creativity
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Employee morale is very low at the I Was Frames art supplies company. Employees are unhappy because vacant management positions are always filled by people from outside the company. Turnover at the production and supervisory levels is high. What do employees feel goes unrewarded at I Was Framed?
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loyalty
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Who are those who assign work duties and supervise employees?
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supervisors
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The Frisinas take a vacation every spring. Working with a travel agent to gather info. about possible destinations, they have planned and taken trips to resort locations throughout the U.S. What type 0f decision making will the Frisinas use to select next year's trip?
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limited
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Frank owns a gardening service. Every few months, he leaves flyers detailing his services on the doorsteps of houses in local neighborhoods. What method is Frank using to find new customers?
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cold canvassing
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In business-to-business selling, what is the key factor in determining the kinds of preapproach activities a salesperson should do?
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the salesperson's prior relationship with the customer
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Sometimes a home owner who wishes to sell his or her house will but a home warranty. This means that the buyer of the house will not have to pay for particular house repairs that become necessary during the first year after the house is sold. In this case, what is the warranty?
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extended product feature
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The owner of Furry Friends pet store holds weekly informal meetings to keep employees aware of new products in the store. How are the pet shop employees getting product information?
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formal training
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Jesse works in the mens clothing department of a large department store. Yesterday, he noticed a customer inspecting an elegant suit. Approaching the customer, Jesse said, "Good morning, Mr. Phelps. May I put that suit in a dressing room for you?" What method of initial approach is Jesse using?
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greeting approach
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According to Marketing Essentials, how does a customer feel when you ask several questions in a row?
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cross-examined
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When are the customers' needs usually determined in a business-to-business sales situation?
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during the preapproach
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How should a salesperson greet a customer in Japan?
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shake hands firmly and bow
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In which step of the sale should you learn what the retail customer is looking for in a good or service?
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determining needs
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"My spouse and I would love to take this trip to Hawaii that you've described, but we have to repaint our house and we really should replace out refrigerator." What us such an objection based on?
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need
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A customer in a computer store tells the salesperson, "I cant buy this software program. I dont understand the directions." The salesperson's reply is, "Let's read over the directions together. What is the first direction you find confusing?" What method of handing objections is the salesperson using?
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question
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A salesperson says to a customer, "I've has many customers express the same concern you've just stated." What step of the basic strategy for handling objections does the preceding comment exemplify?
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acknowledge
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In which situation is using the latest jargon acceptable?
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beds and dressers to hotel managers
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During a presentation, what is the maximum number of items a salesperson should show a customer at one time?
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three
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The sales close that should be used infrequently because it can be viewed by the customer as a pressure tactic is the...
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standing room only close
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Latasha sells upscale casual wear at Northeastern Adventures. Just before she writes up a customer's order, Latasha shows the customer the store's newest merchandise, particularly those items that coordinate with the customer's purchases. What method is she usnig to sell additional merchandise?
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offering related merchandise
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During what stage of selling should you educate a customer about the special care or special instructions an item requires?
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departure
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What is the easiest and most effective method of suggestion selling?
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offering related merchandise
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What should the salesperson do when a customer is having difficulty making a buying decision?
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stop showing additional merchandise
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How can you, as a salesperson, best avoid disagreements with a customer about the amount of money the customer gave you as payment?
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by placing the money on the cash drawer ledge
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What should you do when a customer interrupts you with a question while you are making change?
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ignore the interruption
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What is a typical cash register arrangement?
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coins in front, bills in back, $2 bills places under $1 bills
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Shana needed to stock up on office supplies. She bought three packages of multi-colored file folders at $4.25 per package, six boses of felt-tip markers at $3.68 per box, and two staplers at $6.19 apiece. Assuming a tax rate of 6 percent, what was the total cost of Shana's purchase?
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$50.04
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What is the name f a legal contract between a buyer and a supplier that lists the characteristics, price, and shipping instructions of the items the supplier will provide?
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purchase order
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The Natural Place is a gift store selling items that focus on the environment and ecological concerns. Chris coordinates all of the physical elements in The Natural Place so that the store projects the right image to its customers. What is Chris directly involved in?
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sales promotion
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The business often has the least control over which type of promotion?
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publicity
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As Marinanna opened a new box of tissue, she noticed a card inside listing prizes she could win if she wrote her name and address on a pice of paper and mailed it to the tissue manufacturer, who would pull 10,000 names of winners out of an enormous collection bin. What is the tissue manufacturer promoting sales though?
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incentives
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A company's commitment to maintaining a good health and benefits package for its workers will directly affect its
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employee relations
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What is a special price discount that is given as an incentive to wholesalers and retailers?
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buying allowance
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According to the textbook, what is the one visual merchandising element that influences customer behavior more directly than any other?
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the width of the store's aisles
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Score Sporting Goods store always has a display with mannequins engaged in season-appropriate sports. The store uses many props to make customers feel as if they could almost join the fun going on in the displays. How would you describe the settings for such displays?
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realistic
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A visual merchandising specialist is creating a display for a new walking shoe. The shoe store owner wants to emphasize the comfort and freedom of movement the shoes give the wearer. To created this effect, the visual merchandising specialist should create what type of lines?
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curved
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Something's Cooking sells a variety of cooking and serving utensils. Each November the promotion staff creates an elaborate display of all he utensils and cooking pans a cook could possibly need to cook a big Thanksgiving meal. What type of display would this be considered?
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related merchandise dislpay
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A music store's display of compact discs by a popular country-western singer was unsuccessful. Huge posters of the singer completely overshadowed the CDs. Once the display was removed, sales of the CDs improved. What is the artistic element that most likely caused the display's failure?
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proportion
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What is one characteristic of advertising?
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it always identifies the name of the business of individual that paid for it
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Businesses that advertise in newspapers can target their ads to people wit particular interests or to those living in a particular region. Why can businesses do this targeting?
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newspapers circulation is documented and verifiable
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According to the text, what is one of the most important consideration in direct mail advertising?
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the accuracy of the mailing list
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In which type of print medium is an advertisement's life the shortest?
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newspaper
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Which printed media is found in 98 percent of American homes?
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directory
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When used in headlines, what words attract most readers' attention?
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now, free, new
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What is the purpose of an illustration in an ad?
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encourage the customer to make a purchase
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A print ad includes a photo of a woman dressed in pre-Revolutionary War attire and cooking over an open-air fire. The woman is clearly an employee of Williamsburg, the Virginia town in which daily life in 18th century America is re-enacted. The ad's headline reads "History Repeats Itself, 9 to 5 Daily." What is this headline an example of?
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familiar saying with a twist
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In an advertising agency, some people study demographic data in order to determine the type of message that will appeal to a particular market segment. In what department do such agency employees usually work?
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research service
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In ads, what are line of force?
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illustration sight lines lead the reader to the copy
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Sabrina owns and operate Sabrina's Textiles which manufactures fabric used by furniture makers for covering sofas and chairs. Sabrina's business is too small to afford its own sales force. What is the distribution channel that Sabrina would most likely use in marketing her dry goods?
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manufacturer hires agent who represents him or her in selling to industrial user
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A mortgage broker arranges for a lending institution (such as a bank or savings and loan association) to provide a mortgage for a consumer of business. In this case, what is the channel for distribution of services?
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indirect
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What is the most likely distribution channel for manufacturer of laundry products, candy, and flowers desined for consumers use?
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manufacturer to wholesaler to retailer to consumer
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The Baker and Roberti 29 Flavors ice cream company sells its ice cream and frozen yogurt only in its company-owned retail stores. What is this particular kind of distribution called?
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integrated
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Brigette works for Rising Bakery Company. She manages the bakery's inventory at 25 supermarkets by refilling stock and maintaining the stores' Rising Bakery displays. What is Brigette?
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rack jobber
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What type of transportation is convenient and helps reduce both packaging and inventory costs?
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trucking
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What is the transportation system with the best safety record?
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pipeline
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A lettuce farmer in California sends a carload of produce east to Ohio on Monday night. On Tuesday morning, the farmer finds a buyer for the lettuce in Albuquerque, New Mexico. What railroad service can be use to arrange for the lettuce to go to New Mexico instead of Ohio?
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diversion-in-transit
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What is the least expensive means of product transportation?
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water
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What type of transportation accounts for the smallest percentage of total ton-miles of freight shipped?
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air
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Materials requirement planning is part of what overall business activity?
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production planning
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Ordering staple goods from a familiar vendor is what type of purchasing situation?
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straight-rebury
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On what figure are all other sales projection figures in a merchandise plan based?
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planned sales
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Pet World wants to reduce its planned reductions by 7 percent from last year's figure of $850. Therefore, what would be Pet World's planned reduction amount for this year?
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$790.50
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Arabesque Danceware store had $67,500 in sales during January and its BOM stock inventory was $135,000. What was its stock-to-sales ratio?
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2
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What is the difference between recorded sales and inventory based on a physical count?
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stock shortage
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What is electronic data interchange used for?
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to transact purchase orders between businesses
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What is the checking method that is susceptible to errors if receivers do not physically count the total number of items in shipment?
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direct check
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Claire check merchandise shipments for a large electronics store. Recently, a shipment containing a variety of computer monitors and disk drivers arrived at the store later than expected and without an invoice. The salespeople needed the merchandise on the floor quickly in anticipation of a big weekend sale. What method should Claire use to ensure quick and accurate merchandise checking?
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blind check method
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What do many store use to mark the price on a dress or suit?
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UPC code
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What industry was adversely affected by price wars?
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the home scanner industry
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What does the law of diminishing marginal utility state?
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consumers will buy only a limited amount of a product no matter how low its price
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What is the law which prohibits companies from engaging in price fixing?
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Sherman Antitrust Act
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Price x Quantity Sold = what?
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sales revenue
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How does most price planning begin?
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cost and expense analysis
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What is the contract term 3/10 net 30 extra 60 an example of?
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discount pricing
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A stationary and gift store has a sale on July 5th of all small American flags and of red, white, and blue paper goods. Customers are given 50 percent off the price of the goods. What is this an example of?
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seasonal discount
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In what product lifecycle state is a product in when a product in when a product's marketers are looking for new market segments?
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maturity
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What is loss-leader pricing a part of?
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psychological pricing
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What is the most temporary of the psychological pricing techniques?
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promotional
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Richard bought bath towels for his new apartment. The original price for the towels was $21.95 each, but they had been marked down by 33 percent. What was the total cost to Richard, excluding tax, for four towels.
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$58.83
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A tape recorder that cost Plugged In electronics store $18 and that originally sold for $42 is marked down 25 percent. What is the maintained markup in dollars for the recorder?
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$13.50
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Determine the maintained markup percentage for a refrigerator that costs an retailer $365 to stock and that sells for $690; the store wants to mark down the refrigerator 30 percent.
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24 percent
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Petite Boutique buys its blouses from Too Sweet blouse manufacturers. Too Sweet offers a 12 percent discounts on orders of $3,000 or more. Petite Boutique ordered $4,200 worth of merchandise and insistred on terms of 4/10 net 30. If the store takes advantage of both discounts, what will be the net amount of the invoice?
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$3,548.16
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What is the first step in the procedure for determining an item's retail price when we know the item's cost and the customary markup on retail?
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determine what percentage of the retail price is equal to cost
