Marketing vocab testmark

What should a salesperson do when dealing with a customer who wants to return an unsatisfactory item?

Follow the business's selling policies

Which is an appropriate characteristic for a firm's selling policies?

Enforced with reasonable firmness

Which is an internal factor that affects the selling policies of a business?

Financial resources

Which antitrust regulatory act would prevent a business from randomly offering discounts to whomever it chose?

Robinson-Patman Act

Which is an internal factor that might have an effect on a business's selling policies?

Research efforts

Teri purchased a new car and expects for the entertainment system to work smoothly. Which warranty is Teri expecting to be fulfilled?


How does the use of grades and standards affect the buying and selling process?

It enables customers to buy without having to inspect each product.

Which is an example of an implied warranty?

A customer buys a toaster and assumes it will toast bread.

Why do many professional organizations develop standards for their members to follow?

To promote product safety

A customer buys a CD player and receives a printed warranty card stating the action the company will take if the CD player does not work properly. This is an example of which type of warranty?


What is a purpose of warranties and guarantees?

To protect the producer and the seller

Any business that transports goods across state lines must comply with standards set by which group?

Government agencies

What will probably happen to a business if it continuously fails to deliver on its brand promise?

Lose credibility

Which is a policy that the WNJ Company might implement to reinforce its image as an efficient and responsive business?

Requiring employees to respond to customer inquiries within 24 hours

When a business publicly pledges to provide all of its customers with quick, courteous service, what is it doing?

Making a brand promise

John communicates through all advertisements that his employees go through extensive training. What is John doing?

Making a brand promise

Which is an example of an employee reinforcing a firm's image through his or her job performance?

Jack politely asks if his customer would like a beverage while she or he waits for car service.

When salespeople explain the benefits of a technical product, which question are they answering for customers?

What is in it for me?

How does a feature-benefit chart help a salesperson?

Provides a quick reference to the salesperson about the product

Which type of product information might a salesperson be able to obtain from a manufacturer's representative?

How the product is made

Geri asks a salesperson about some features of the new Samsung Android cellular telephone. Since the salesperson is not aware of the features, what should the employee do?

Ask an available, experienced employee

A customer asks a specific product question that a new salesperson cannot answer. What should the new salesperson do?

Ask an available, experienced employee

By what will the emphasis put on each phase of the selling process vary most significantly?

Product and client

The phase of the selling process that includes writing up the order is which action?

Reaching closure

After learning that a customer is interested in a computer that can produce sophisticated graphics, what should be the salesperson's next step?

Suggesting a specific computer to the customer

What should a salesperson remember to do during the closing phase of the selling process?

Ask the customer to buy

Determine whether this statement is true or false: All salespeople should use the step of the selling process in which a relationship is established with the customer.

True, this is an important step for all salespeople.

Judy sold customers substitute computers for the iPad. What should she explain to the customers about the substitute computers?

Comparable features

Which is part of establishing relationships with customers?

Sizing up the customer

A 589-pound shipment is sent by motor freight at a rate of $11.56 per 100 pounds. What are the shipping charges?


Wal-Mart and Sears attract two different types of customers because of their pricing strategies. They have established prices based on which decisions?


Which factors should businesses consider when establishing the selling price of a product?

Economic conditions

Companies A, B, and C sell similar products. Together, they recently decided to sell their products for the same price. The businesses are engaging in which unethical activity?


Which pricing tactic might be considered questionable by some businesses?

Developing a complex pricing structure

The Standard Oil Company's price-fixing tactics and monopolistic control over oil refining and distribution in the late 1800's was a major contributing factor in the enactment of which piece of legislation?

Sherman Antitrust Act

Why do some new companies set their selling prices as low as they can?

To get market share as fast as possible

Which is an external factor that affects the price that a business charges for its products?

Economic conditions

What would be the most appropriate pricing strategy for a business in a small town where unemployment has skyrocketed and the economy is in a downturn?

Flexible pricing

A business charges a small company a higher price for a product than it charges a large company for the same product. What does this activity represent?

Price discrimination

Charging premium prices for lumber to hurricane victims because supply is limited is a practice of which behavior?

Unethical and legal

What might happen if a business's customers feel that they are not getting the most value for their money?

Customers will spend money elsewhere.

Which is an example of an ethical issue as it relates to predatory pricing?

A local ice-cream shop prices menu items below cost in an effort to eliminate its competition.

Which is an example of an unethical pricing practice?

A company set prices for its products low in an attempt to drive its competitors out of business.

Technology allows manufacturers to preprint product packaging with Universal Product Codes (UPCs). Which information would be available?


One way that many businesses use technology to reduce the costs associated with marking prices on products is by using which option?

Computer-generated tags