Question 1

What is innovation in marketing?

Accepted Answer

Innovation is generally considered a process that brings together various novel ideas in a way that they have an impact on society It differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better

Question 2

Consumer protection laws are meant to

Accepted Answer

Protect the consumer from the seller who cheat to sell his product The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and responsibilities

Question 3

Which of the following is not a selling expense?

Accepted Answer

Office salaries expense would not come under a selling expense.

Question 4

What does destination scan mean?

Accepted Answer

Shipment movement information is captured each time a tracking label is scanned in the UPS delivery system. There may be several days between scans if the shipment is going cross-country or moving between countries. Destination Scan: The shipment has arrived at the local UPS facility responsible for final delivery. Arrival Scan: The shipment has arrived at a UPS facility. Departure Scan: The shipment has departed a UPS facility and is on its way to the next UPS facility. Origin Scan: UPS has received the shipment.

Question 5

In-transit to destination or out for delivery means

Accepted Answer

When you give your item to the USPS for delivery, it accepts your item and starts the process of delivery Transit is a part of the shipment delivery process When we say that the package is in the transit or in transit to the destination, it means that the package is on the way to the delivery

Question 6

A supply curve slopes upward because

Accepted Answer

The supply curve slopes upward because for reflecting the higher price needed to cover the higher marginal cost of production.

Question 7

The relationship between quantity supplied and price is

Accepted Answer

Price and quantity supplied move in the same direction. As the price decreases, quantity supplied also decreases and viceversa.

Question 8

What does in transit to destination mean?

Accepted Answer

on the way for delivery

Question 9

The systematic risk of the market is measured by

Accepted Answer

Beta is the measurement of the systematic risk of the market.

Question 10

In contrast to investment, consumption is

Accepted Answer

In contrast to investment, consumption is relatively stable.

Question 11

When backed by buying, power wants become

Accepted Answer

When backed by buying, power wants become demands.

Question 12

The first step in the marketing research process is to

Accepted Answer

Marketing Research Process is a systematic method for planning and executing market research projects to inform business decisions. The 5 Step Marketing Research Process : Define the Problem or Opportunity Develop Your Research Plan Collect Relevant Data and Information Analyze Data and Report Findings Take Action.

Marketing and Sales Questions