__________ is the value of the benefit that is given up by selecting one alternative rather than another. A)Benefit loss B)Opportunity cost C)Privileged cost D)Selection cost E)Exchange loss

__________ is the value of the benefit that is given up by selecting one alternative
rather than another.
A)Benefit loss
B)Opportunity cost
C)Privileged cost
D)Selection cost
E)Exchange loss
by

1 Answer

Answer :

B)Opportunity cost
by

Related questions

__________ is the value of the benefit that is given up by selecting one alternative rather than another 1. Benefit loss 2. Opportunity cost 3. Privileged cost 4. Selection cost 5. Exchange loss

Description : __________ is the value of the benefit that is given up by selecting one alternative rather than another 1. Benefit loss 2. Opportunity cost 3. Privileged cost 4. Selection cost 5. Exchange loss

Last Answer : Opportunity cost

A mission statement can benefit a company in all of the following ways EXCEPT A)giving it clear purpose and direction. B)describing its unique focus. C)keeping it focused on customer needs rather than its own abilities. D)providing specific direction and guidelines to top managers. E)providing a detailed plan for implementation.

Description : A mission statement can benefit a company in all of the following ways EXCEPT A)giving it clear purpose and direction. B)describing its unique focus. C)keeping it focused on customer ... D)providing specific direction and guidelines to top managers. E)providing a detailed plan for implementation.

Last Answer : E)providing a detailed plan for implementation.

The recruiting and selection process should include enough steps to yield the information needed to make accurate selection decisions. However, the stages of the process should be sequenced so that the more expensive steps are A)near the beginning. B)always completed before anything else. C)near the end. D)paid by the prospects rather than the company.

Description : The recruiting and selection process should include enough steps to yield the information needed to make accurate selection decisions. However, the stages of the process should be sequenced so that the more ... anything else. C)near the end. D)paid by the prospects rather than the company.

Last Answer : C)near the end.

Where speed is less important, which of the following remains an important criterion in selecting a transportation mode? A)Cost differences B)Security differences C)Performance differences D)Regulation E)Capability

Description : Where speed is less important, which of the following remains an important criterion in selecting a transportation mode? A)Cost differences B)Security differences C)Performance differences D)Regulation E)Capability

Last Answer : A)Cost differences

A __________ is created when a company matches its distinctive competency to the opportunities it has discovered in the market. A)market opportunity B)market requirement C)competitive advantage D)strategic window E)competitive opportunity

Description : A __________ is created when a company matches its distinctive competency to the opportunities it has discovered in the market. A)market opportunity B)market requirement C)competitive advantage D)strategic window E)competitive opportunity

Last Answer : C)competitive advantage

A __________ is something that an organisation does extremely well--sometimes so well that it gives a company an advantage over its competition. A)competitive advantage B)sustainable competitive advantage C)distinctive competency D)strategic vision E)marketing opportunity

Description : A __________ is something that an organisation does extremely well--sometimes so well that it gives a company an advantage over its competition. A)competitive advantage B)sustainable competitive advantage C)distinctive competency D)strategic vision E)marketing opportunity

Last Answer : C)distinctive competency

Realising that consumers have begun to seek safer cars, car makers are promoting air - bags to capitalise on this __________ while the strategic window is open. A)marketing mix B)market opportunity C)objective D)requirement E)need

Description : Realising that consumers have begun to seek safer cars, car makers are promoting air-bags to capitalise on this __________ while the strategic window is open. A)marketing mix B)market opportunity C)objective D)requirement E)need

Last Answer : B)market opportunity

Matt's girlfriend tells him she wants jewellery for *********. Matt decides to go to a store that provides the best possible selection of jewellery. His best choice would be to shop at a __________ store. A)department B)catalogue C)discount D)speciality E)convenience

Description : Matt's girlfriend tells him she wants jewellery for Christmas. Matt decides to go to a store that provides the best possible selection of jewellery. His best choice would be to shop at a __________ store. A)department B)catalogue C)discount D)speciality E)convenience

Last Answer : D)speciality

Which of the following statements concerning motivating marketing personnel is FALSE? A)Management must discover employees' needs and then develop motivational methods. B)Motivational methods should be fair, ethical, and well -understood by employees. C)Selecting effective motivational tools becomes easier as the work force becomes less diverse. D)Rewards to employees must be tied to organisational goals. E)Managers must use different tools to motivate different individuals.

Description : Which of the following statements concerning motivating marketing personnel is FALSE? A)Management must discover employees' needs and then develop motivational methods. B)Motivational methods should ... to organisational goals. E)Managers must use different tools to motivate different individuals.

Last Answer : C)Selecting effective motivational tools becomes easier as the work force becomes less diverse.

Smith's Fine Foods is involved in selecting and analysing a target market and developing a marketing mix to gain long -run competitive advantages. Based on this example, Smith's is creating a A)corporate strategy. B)target design. C)mix strategy. D)marketing strategy. E)marketing tactic.

Description : Smith's Fine Foods is involved in selecting and analysing a target market and developing a marketing mix to gain long -run competitive advantages. Based on this example, Smith's is creating a A)corporate strategy. B)target design. C)mix strategy. D)marketing strategy. E)marketing tactic.

Last Answer : D)marketing strategy.

Perception is a three-step process that involves A)motivation, personality, and attitudes. B)collecting, eliminating, and organising information inputs. C)selecting, organising, and interpreting information inputs. D)anticipating, classifying, and discarding information inputs.

Description : Perception is a three-step process that involves A)motivation, personality, and attitudes. B)collecting, eliminating, and organising information inputs. C)selecting, organising, and interpreting information inputs. D)anticipating, classifying, and discarding information inputs.

Last Answer : C)selecting, organising, and interpreting information inputs.

The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B)developing marketing objectives to meet organisation goals C)deciding how to organise the marketing department to meet customer needs. D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Description : The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B) ... D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Last Answer : D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Most specifically, marketing strategy: A)is concerned with key decisions required to reach an objective VU Cafeteria B)encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix C)expands geographic boundaries of markets to serve larger geographic areas D)involves determining the direction and objectives of marketing management

Description : Most specifically, marketing strategy: A)is concerned with key decisions required to reach an objective VU Cafeteria B)encompasses selecting and analysing a target market and creating ... to serve larger geographic areas D)involves determining the direction and objectives of marketing management

Last Answer : B)encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix

The first step in planning a marketing research project is: A)conducting a cost/benefit analysis B)searching the environment C)defining and locating problems D)assessing organisation resources E)defining goals and objectives

Description : The first step in planning a marketing research project is: A)conducting a cost/benefit analysis B)searching the environment C)defining and locating problems D)assessing organisation resources E)defining goals and objectives

Last Answer : C)defining and locating problems

The cost of any activity measured in terms of the value of the next best alternative forgone a). Economic cost b). Variable cost c). Opportunity cost d). Marginal cost

Description : The cost of any activity measured in terms of the value of the next best alternative forgone a). Economic cost b). Variable cost c). Opportunity cost d). Marginal cost

Last Answer : c). Opportunity cost

Sandra, a new salesperson for Brenham Foods calls in an order for twice the amount of merchandise that Corner Market requested because she knows that it will increase her sales and will not be noticed by Corner Market. This relates to ------- as an influence in ethical decision making. A)opportunity B)exposure C)significant others D)peers E)external rewards

Description : Sandra, a new salesperson for Brenham Foods calls in an order for twice the amount of merchandise that Corner Market requested because she knows that it will increase her sales and will not ... in ethical decision making. A)opportunity B)exposure C)significant others D)peers E)external rewards

Last Answer : A)opportunity

The Golden Rule and Kant's categorical imperative are examples of rules for ethical behaviour based on A)utilitarianism. B)relativism. C)opportunism. D)ethical opportunity. E)ethical formalism.

Description : The Golden Rule and Kant's categorical imperative are examples of rules for ethical behaviour based on A)utilitarianism. B)relativism. C)opportunism. D)ethical opportunity. E)ethical formalism.

Last Answer : E)ethical formalism.

Which of the following is NOT one of the factors that interact to determine the ethical decision -making process in marketing? A) Relationships with superiors B) Laws and regulation s C) Opportunity D) Individual factors E) Relationships with coworkers

Description : Which of the following is NOT one of the factors that interact to determine the ethical decision-making process in marketing? A) Relationships with superiors B) Laws and regulations C) Opportunity D) Individual factors E) Relationships with coworkers

Last Answer : B) Laws and regulation s

In the thirty minutes Jane has before a meeting on the firm's new marketing plan, she would like to refresh her memory of essential aspects of the document. She should read which section of the document? A)Opportunity and threat analysis B)Environmental analysis C)Executive summary D)Situation analysis E)Marketing objectives

Description : In the thirty minutes Jane has before a meeting on the firm's new marketing plan, she would like to refresh her memory of essential aspects of the document. She should read ... A)Opportunity and threat analysis B)Environmental analysis C)Executive summary D)Situation analysis E)Marketing objectives

Last Answer : C)Executive summary

A marketing plan usually begins with a(n) A)executive summary. B)introduction to the company's marketing objectives. C)summary of current performance as compared with past performance. D)situation analysis. E)opportunity and threat analysis.

Description : A marketing plan usually begins with a(n) A)executive summary. B)introduction to the company's marketing objectives. C)summary of current performance as compared with past performance. D)situation analysis. E)opportunity and threat analysis.

Last Answer : A)executive summary.

The process of collecting information about the marketing environment is A)a market opportunity. B)a market resource. C)environmental scanning. D)a market requirement. E)development of the environment.

Description : The process of collecting information about the marketing environment is A)a market opportunity. B)a market resource. C)environmental scanning. D)a market requirement. E)development of the environment.

Last Answer : C)environmental scanning.

When the right combination of circumstances occurs at the right time to allow an organisation to take action toward a target market, the firm has identified a A)market objective. B)market requirement. C)strategic market plan. D)market opportunity. E)corporate objective.

Description : When the right combination of circumstances occurs at the right time to allow an organisation to take action toward a target market, the firm has identified a A)market objective. B)market requirement. C)strategic market plan. D)market opportunity. E)corporate objective.

Last Answer : D)market opportunity.

Lynx has demonstrated against the sale of coats made of animal furs.This group's efforts to change shoppers' attitudes represents _________ for fur retailers. A)an opportunity B)self-regulation C)a societal force D)an economic force E)a technological force

Description : Lynx has demonstrated against the sale of coats made of animal furs.This group's efforts to change shoppers' attitudes represents _________ for fur retailers. A)an opportunity B)self-regulation C)a societal force D)an economic force E)a technological force

Last Answer : C)a societal force

Capri is a brand of cigarette that is low tar and slim in design to appeal to women. In this instance, women comprise Capri's: A)marketing mix B)target market C)target audience D)marketing strategy E)marketing opportunity

Description : Capri is a brand of cigarette that is low tar and slim in design to appeal to women. In this instance, women comprise Capri's: A)marketing mix B)target market C)target audience D)marketing strategy E)marketing opportunity

Last Answer : B)target market

If Erin Farm Insurance saw a sudden increase in the number of farmers seeking flood insurance in Ireland due to major floods in Britain, the floods would be presenting the company with a marketing: A)opportunity B)strategy C)concept D)mix E)target

Description : If Erin Farm Insurance saw a sudden increase in the number of farmers seeking flood insurance in Ireland due to major floods in Britain, the floods would be presenting the company with a marketing: A)opportunity B)strategy C)concept D)mix E)target

Last Answer : A)opportunity

The three factors that influence the ethical decision -making process include A)individual factors, corporate culture, and peer influence. B)opportunity, personal moral philosophies, and situational variables. C)individual factors, organisational relationships, and opportunity. D)peer influences, personal moral philosophies, and opportunity.

Description : The three factors that influence the ethical decision-making process include A)individual factors, corporate culture, and peer influence. B)opportunity, personal moral philosophies, and ... relationships, and opportunity. D)peer influences, personal moral philosophies, and opportunity.

Last Answer : C)individual factors, organisational relationships, and opportunity.

As a media buyer for the Angelo Agency, Sheila knows that no one ever checks to see if her phone calls are business related or personal. With regard to ethical behaviour, this situation relates most closely to: A)exposure. B)opportunity. C)moral framework. D)organisational factors.

Description : As a media buyer for the Angelo Agency, Sheila knows that no one ever checks to see if her phone calls are business related or personal. With regard to ethical behaviour, this situation relates most closely to: A)exposure. B)opportunity. C)moral framework. D)organisational factors.

Last Answer : B)opportunity.

Kevin notices that when Alice weighs tomatoes at the checkout counter , she regularly leans on the scale. Kevin's consideration about reporting this practice to top management involves ethical decisions with regard to: A)organisational relationships. B)opportunity. C)product issues. D)promotion issues.

Description : Kevin notices that when Alice weighs tomatoes at the checkout counter , she regularly leans on the scale. Kevin's consideration about reporting this practice to top management involves ethical ... regard to: A)organisational relationships. B)opportunity. C)product issues. D)promotion issues.

Last Answer : A)organisational relationships.

The three major considerations in assessing opportunities and resources are environmental scanning, evaluating market opportunities, and A)competitive scanning. B)environmental analysis. C)understanding the firm's capabilities. D)opportunity search.

Description : The three major considerations in assessing opportunities and resources are environmental scanning, evaluating market opportunities, and A)competitive scanning. B)environmental analysis. C)understanding the firm's capabilities. D)opportunity search.

Last Answer : C)understanding the firm's capabilities.

In developing a new herbicide, Atwell Chemicals comes up with two formulations. Option 1 is more effective in killing weeds but has a questionable impact on ground water. Option 2 is generally seen as safe but somewhat less effective than its alternative. In choosing Option 2, the firm's stance is consistent with which one of the following moral philosophies? A)Egalitarianism B)Utilitarianism C)Ethical directionism D)Contract theory E)Pluralism

Description : In developing a new herbicide, Atwell Chemicals comes up with two formulations. Option 1 is more effective in killing weeds but has a questionable impact on ground water. Option ... following moral philosophies? A)Egalitarianism B)Utilitarianism C)Ethical directionism D)Contract theory E)Pluralism

Last Answer : B)Utilitarianism

Global marketing is A)the development of marketing strategies for the entire world or major regions of the world. B)performing marketing activities across national boundaries. C)the creation of value and the exchange of value between countries. D)having firms with operations or subsidiaries located in many countries.

Description : Global marketing is A)the development of marketing strategies for the entire world or major regions of the world. B)performing marketing activities across national boundaries. C)the creation ... of value between countries. D)having firms with operations or subsidiaries located in many countries.

Last Answer : A)the development of marketing strategies for the entire world or major regions of the world.

Which of these statements BEST describes international marketing? A)developing and performing marketing activities across national boundaries. B)the exporting of goods and services. C)the creation of value and the exchange of value between countries. D)having firms with operations or subsidiaries located in many countries.

Description : Which of these statements BEST describes international marketing? A)developing and performing marketing activities across national boundaries. B)the exporting of goods and services. C)the creation ... between countries. D)having firms with operations or subsidiaries located in many countries.

Last Answer : A)developing and performing marketing activities across national boundaries.

Marketing efforts are specifically aimed at: A)distributing "something of value" to buyers and sellers. B)facilitating satisfying exchange relationships. C)developing new products for target markets. D)understanding buyer behaviour to meet buyer needs.

Description : Marketing efforts are specifically aimed at: A)distributing "something of value" to buyers and sellers. B)facilitating satisfying exchange relationships. C)developing new products for target markets. D)understanding buyer behaviour to meet buyer needs.

Last Answer : B)facilitating satisfying exchange relationships.

The market for heavy industrial equipment is concentrated in the West Midlands, so an equipment manufacturer has decided to employ a direct sales force in that region. Which factor most influenced this distribution channel selection? A)Buyer behaviour B)Product attributes C)Organisational objectives D)Environmental forces E)Market characteristics

Description : The market for heavy industrial equipment is concentrated in the West Midlands, so an equipment manufacturer has decided to employ a direct sales force in that region. Which factor ... A)Buyer behaviour B)Product attributes C)Organisational objectives D)Environmental forces E)Market characteristics

Last Answer : E)Market characteristics

By expanding its selection of cards for Grandparent's Day, Hallmark is responding to changes in which segmentation based on : A)Religion B)Family life cycle C)Income D)Gender E)Ethnicity

Description : By expanding its selection of cards for Grandparent's Day, Hallmark is responding to changes in which segmentation based on : A)Religion B)Family life cycle C)Income D)Gender E)Ethnicity

Last Answer : B)Family life cycle

If Proctor and Gamble, the makers of Ariel, need to know what percentage of customers examine product labels before making a product selection in the supermarket, this could best be accomplished through: A)focus groups B)mail surveys C)personal interviews D)observation E)mail-intercepts

Description : If Proctor and Gamble, the makers of Ariel, need to know what percentage of customers examine product labels before making a product selection in the supermarket, this could best be accomplished through: A)focus groups B)mail surveys C)personal interviews D)observation E)mail-intercepts

Last Answer : D)observation

After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the organisational buying decision process? A)problem recognition B)product specification C)product-supplier search D)product selection E)product evauation

Description : After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the ... recognition B)product specification C)product-supplier search D)product selection E)product evauation

Last Answer : C)product-supplier search

After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the organisational buying decision process? A)problem recognition B)product specification C)product-supplier search D)product selection E)product evauation

Description : After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the ... recognition B)product specification C)product-supplier search D)product selection E)product evauation

Last Answer : C)product-supplier

After deciding to order replacement parts for ageing machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the organisational buying decision process? A)problem recognition B)product specification C)product-supplier search D)product selection E)product evauation

Description : After deciding to order replacement parts for ageing machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the ... recognition B)product specification C)product-supplier search D)product selection E)product evauation

Last Answer : C)product-supplier search

Which method of organisational buying is appropriate when the product is highly homogeneous and examination of each item is not feasible? A)Negotiation B)Sampling C)Description D)Inspection E)Homogeneous selection

Description : Which method of organisational buying is appropriate when the product is highly homogeneous and examination of each item is not feasible? A)Negotiation B)Sampling C)Description D)Inspection E)Homogeneous selection

Last Answer : B)Sampling

A change in an individual's behaviour prompted by information and experience is called: A)learning. B)role selection. C)perception. D)inculturation. E)motivation.

Description : A change in an individual's behaviour prompted by information and experience is called: A)learning. B)role selection. C)perception. D)inculturation. E)motivation.

Last Answer : A)learning.

To announce the development of a new surgical breakthrough, a hospital management team feels it needs to get wide media coverage. Under these circumstances, which one of the following would probably be its best alternative? A)Captioned photograph B)Feature article C)Third party endorsement D)Television advertisement E)Press conference

Description : To announce the development of a new surgical breakthrough, a hospital management team feels it needs to get wide media coverage. Under these circumstances, which one of the following ... )Captioned photograph B)Feature article C)Third party endorsement D)Television advertisement E)Press conference

Last Answer : E)Press conference

Technical personnel who help develop the specifications and evaluate alternative products for possible use are called: A)users B)influencers C)buyers D)deciders E)gatekeepers

Description : Technical personnel who help develop the specifications and evaluate alternative products for possible use are called: A)users B)influencers C)buyers D)deciders E)gatekeepers

Last Answer : B)influencers

After purchasing a new Micra, George sees a Fiesta pass him on the street and begins to wonder if he made the right choice. George is affected by A)problem recognition B)cognitive dissonance C)internal search D)alternative evaluation E)framing

Description : After purchasing a new Micra, George sees a Fiesta pass him on the street and begins to wonder if he made the right choice. George is affected by A)problem recognition B)cognitive dissonance C)internal search D)alternative evaluation E)framing

Last Answer : B)cognitive dissonance

As Bob runs out of shaving cream, he tries to remember what he did the last time this happened. He is engaging in: A)external search B)evoked set development C)internal search D)cognitive dissonance E)alternative evaluation

Description : As Bob runs out of shaving cream, he tries to remember what he did the last time this happened. He is engaging in: A)external search B)evoked set development C)internal search D)cognitive dissonance E)alternative evaluation

Last Answer : C)internal search

Brands that are promoted through comparative advertising are MOST likely to be A) market leaders. B) brands that are attempting to compete with market leaders. C) primarily services rather than tangible goods. D) attempting to compete on a nonprice basis. E) competing in a less competitive market.

Description : Brands that are promoted through comparative advertising are MOST likely to be A) market leaders. B) brands that are attempting to compete with market leaders. C) primarily services rather than tangible goods. D) attempting to compete on a nonprice basis. E) competing in a less competitive market.

Last Answer : B) brands that are attempting to compete with market leaders.

Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called A)raw materials. B)major equipment. C)accessory equipment. D)component parts. E)process materials.

Description : Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called A)raw materials. B)major equipment. C)accessory equipment. D)component parts. E)process materials.

Last Answer : C)accessory equipment.

Utilitarian moral philosophies focus on A)the Golden Rule. B)the rights of individuals and the intentions associated with a particular behaviour. C)maximising the greatest good for specific individuals. D)maximising the greatest good for the greatest number of people. E)resolving conflicts and ensuring mutual benefit for all members of society.

Description : Utilitarian moral philosophies focus on A)the Golden Rule. B)the rights of individuals and the intentions associated with a particular behaviour. C)maximising the greatest good for specific individuals ... of people. E)resolving conflicts and ensuring mutual benefit for all members of society.

Last Answer : D)maximising the greatest good for the greatest number of people.

Mary King's job is to call on GP's and explain how patients can benefit from new prescription drugs her firm develops. Mary is: A)a technical salesperson B)a missionary salesperson C)an order taker D)an order getter E)a trade salesperson

Description : Mary King's job is to call on GP's and explain how patients can benefit from new prescription drugs her firm develops. Mary is: A)a technical salesperson B)a missionary salesperson C)an order taker D)an order getter E)a trade salesperson

Last Answer : B)a missionary salesperson

What type of advertising points out a brand's uses, features, and advantages that benefit consumers but may not be available in other brands? A)Reminder advertising B)Reinforcement advertising C)Competitive advertising D)Defensive advertising E)Institutional advertising

Description : What type of advertising points out a brand's uses, features, and advantages that benefit consumers but may not be available in other brands? A)Reminder advertising B)Reinforcement advertising C)Competitive advertising D)Defensive advertising E)Institutional advertising

Last Answer : C)Competitive advertising