MTDM DECA Exam questions well answered already passed, Exams of Nursing

Download MTDM DECA Exam questions well answered already passed and more Exams Nursing in PDF only on Docsity! MTDM DECA Exam questions well answered already passed Agency relationship - correct answer ✔✔The agent has authority to act on behalf of the principal. Ex. Josh is a small business owner who hires a lawyer to represent him in court. Josh is the principal; the lawyer is the agent. Representative - correct answer ✔✔A person elected to represent the people Which business is most likely to vioate antitrust laws if it insists on an exclusive dealing agreement? - correct answer ✔✔A firm with dominant market power. Dominant firms may be held to a higher standard under antitrust laws b/c of their monopolistic potential. Small-start ups are less likely to violate competitive laws, as are buyers who are being locked into the agreement. Exclusive dealing only pertains to vertical business partners. Vertical business partners - correct answer ✔✔a partnership between a firm and its suppliers or distributors. Horizontal business partners - correct answer ✔✔formed between partners operating in the same business area. The firm partners with a competitive company to improve its position against other competitors. Tends to be anti-competitive, hence anti-trust law should be considered in this type of alliance. cross linking - correct answer ✔✔a strategy that can come in handy to get high search engine rankings, by leveraging multiple domains owned by you a method of adding links on your website to other websites with similar content or interests affiliate marketing - correct answer ✔✔a marketing arrangement by which an organization refers consumers to the selling company's website affinity marketing - correct answer ✔✔A method of selling goods and services by creating partnerships with similar or compatible companies and brands. This increases brand loyalty for both companies and products and heightens market awareness of both. persuasive writing - correct answer ✔✔writing that attempts to convince an audience to perform a certain action, such as buying a product responsive writing - correct answer ✔✔writing used to respond to some prior communication informative writing - correct answer ✔✔writing used to transfer information to an audience passive voice writing - correct answer ✔✔writing that transfers the object of the action into the subject position How can businesses reinforce brand promise after a sale? - correct answer ✔✔By resolving any problems or complaints payroll taxes - correct answer ✔✔taxes associated with being employed as well as being an employer. employers must withhold certain taxes from other employee's paychecks. ex. Melinda's employer withholds certain taxes, such as local income taxes, from her paycheck. excise taxes - correct answer ✔✔taxes built into the purchase price of products secondary dimensions of diversity - correct answer ✔✔characteristics that may change at various points throughout one's lifetime. religion, work experience, education level, income level, language, family status primary dimensions of diversity - correct answer ✔✔inborn differences that cannot be changed and affect a person's entire life. collectivist culture - correct answer ✔✔culture that is geared towards group accomplishments purchasing functionality - correct answer ✔✔a performance measurement that measures the department against the functional requirements to provide the correct item at the right time at the lowest cost. surplus - correct answer ✔✔A situation in which quantity supplied is greater than quantity demanded shortage - correct answer ✔✔a situation in which quantity demanded is greater than quantity supplied predatory pricing - correct answer ✔✔pricing that is typically prohibited under national competition laws and involves temporarily pricing products below market value to end competitive threats and monopolize the market false advertising - correct answer ✔✔a promotion that deceives customers price discrimination - correct answer ✔✔occurs when a business charges different customers different prices for similar amounts and types of products How are commodity products priced? - correct answer ✔✔Priced with minimal pricing flexibility, since there are too many competitors with non-unique products. How would an uncontrolled market affect pricing flexibility? - correct answer ✔✔It would allow for maximum pricing flexibility How would a controlled market affect pricing flexibility? - correct answer ✔✔It would allow for moderate pricing flexibility. lincensing - correct answer ✔✔buying permission from another person or company to sell a product test marketing - correct answer ✔✔introducing the product to a limited market to see how it will be accepted positioning - correct answer ✔✔a strategy in which a business create a certain image or impression of a product in the minds of consumers commercialization - correct answer ✔✔the point at which the product goes into full-scale production, a marketing plan is put in place, service and sales training are conducted, and the product's life cycle begins liquidation - correct answer ✔✔when a company chooses to discontinue a product and sell off the remaining inventory. often used in the decline stage of a company. penetration pricing - correct answer ✔✔a strategy used during the introduction stage of a company, where marketers price a product low to achieve rapid market acceptance foreclosure - correct answer ✔✔occurs when a person or business can no longer make payments on a piece of property planogram - correct answer ✔✔a computer-developed diagram that instructs retailers how to display products. product opportunity gap - correct answer ✔✔occurs when there is a hole in the market that a business can fill. alteration product-mix strategy - correct answer ✔✔involves making changes in the company's products or lines contraction product-mix strategy - correct answer ✔✔removing product items or lines from the product mix. perhaps a product's production has become a problem expansion product-mix strategy - correct answer ✔✔occurs when a business expands its product mix by adding additional product items or lines trading up product-mix strategy - correct answer ✔✔when a company decides to add a higher priced product or line to its mix product bundling tactic - correct answer ✔✔marketing strategy that involves offering several products for sale as one combined product content marketing - correct answer ✔✔the creation and distribution of content to attract customer engagement brand insistence - correct answer ✔✔the final stage of brand loyalty in which consumers insist on buying a specific brand white papers - correct answer ✔✔showcases a company's expertise on a subject case studies - correct answer ✔✔allow a company to showcase a real-world application of its product or brand with proven results and statistics pre-sale customer service - correct answer ✔✔includes suggestion selling and providing ample product information post-sale customer service - correct answer ✔✔the critical time to flex your customer services. time of follow-through is what separates successful businesses from unsuccessful. offer customer training. internal factors - correct answer ✔✔comes from the business itself, and the business has a measure of control over it. ex. production capacity external factors - correct answer ✔✔factors in the business environment outside of a particular firm's control regulatory factors - correct answer ✔✔laws and guidelines put in place by government entities slander - correct answer ✔✔saying something untrue that damages a person's or business' reputation negligence - correct answer ✔✔not doing something necessary or required, ILLEGAL skip interval - correct answer ✔✔the number of spaces between each sampling unit drawn in systematic random sampling semantic differential scale - correct answer ✔✔a type of itemized scale that marketing researchers use to measure attitudes. provides seven spances which are bounded by descriptive antonyms at each end, such as reliable and unreliable. respondent places an "x" on the point that describes how they feel about a product that they are rating. itemized scales - correct answer ✔✔provides respondents with a set of options from which they must choose an answer Likert scale - correct answer ✔✔measures the respondents' level of agreement with a statement Stapel scale - correct answer ✔✔a 10-point scale that places the phrase in the middle and requires the respondent to mark which series of positive or negative numbers best describes their feelings about the phrase in relation to the object or idea internal changes - correct answer ✔✔businesses have control over changes such as personnel, pricing, and product lines. often affects their sales forecasts external changes - correct answer ✔✔changes that occur outside of businesses. marking changes and economic changes are examples of changes that businesses have no control over elastic demand - correct answer ✔✔a form of demand in which changes in price correspond to changes in demand. ex, when customers can afford to spend money and buy products, businesses respond by increasing prices because there is demand. businesses want to keep their prices at a level that is compatible with demand market share - correct answer ✔✔a business's share of the total industry sales in a specific market product mix - correct answer ✔✔the particualr assortment of products that a business offers in order to meet the needs of its market and company goals webcast - correct answer ✔✔video and/or sound bytes that people can view thru the internet. businesses use this to communicate/demonstrate their product's attributes so they can stimulate sales broadband - correct answer ✔✔a method of accessing the Internet via cable or DSL opt-in email - correct answer ✔✔electronic promotional messages that businesses send with a recipients permission and allow for the recipient to request removal from the subscriber list at any time corrective advertising - correct answer ✔✔involves placing messages in various media to retract an inaccurate statement or to correct the public's false impression about a product's features or abilities. often a major financial cost to a company, and may negatively affect reputation. case law - correct answer ✔✔a primary source of law that is based on previous court decisions constitutional law - correct answer ✔✔supreme law of the land and is based upon the U.S. constitution uniform laws - correct answer ✔✔addresses issues such as trade and commerce. privdes legal consistency among the states that adopt them. statutory laws - correct answer ✔✔laws enacted by federal, state, or local legislatures comment cards - correct answer ✔✔small,short,preprinted questionanaires environmental monitoring - correct answer ✔✔involves tracking a variety of data and statistics to identify emerging trends. enables businesses to understand trends and make changes in order to remain competitive. application software - correct answer ✔✔software that enables the users to perform specific tasks, such as word processing operating system - correct answer ✔✔runs on the computer, serves as a go-between for hardware and software applications. provides security for the computer system. EX. Windows, OSX, and Linux server - correct answer ✔✔any combination of hardware or software designed to provide services to clients hard drive - correct answer ✔✔the element of the system that stores software applications, the operating system, and other data Benefit of optimized supply chains? - correct answer ✔✔Lowers costs by eliminating unnecessary transactions and suppliers meta tags - correct answer ✔✔HTML (Hyper Text Markup Language)codes that display information about webpages. American Standard Code for Information Interchange (ASCII) - correct answer ✔✔plain text from which HTML documents are usually created. marketing management - correct answer ✔✔career that involves all marketing functions: -channel management/distribution -marketing information management -pricing -product/service management -promotion -selling -financing computer-aided design(CAD) - correct answer ✔✔type of software that allows users to draw 2 or 3- dimensional illustrations on the computer. used for designing products or as a blueprint for constructing products fraud - correct answer ✔✔deception purposely carried out to secure unfair or unlawful gain