A company decides that it will become the market leader in the poultry business in five years, with a 40 share of the market. This statement would be classified as a(n):
A) vision.
B) mission.
C) strategy.
D) operational plan.
E) goal.
Question 2 - A hair products manufacturer asked professional hair stylists to upload a photo of their best look using the company's products, and the winner got an all-expenses-paid trip to Orlando. What type of sales promotion is this?
A) Rebate
B) Point-of-purchase display
C) Frequent-user incentive
D) Contest
E) Press conference
Question 3 - When Starbucks states that by 2017 it plans to purchase 100 of its coffee from ethical sources, it is stating a(n):
A) goal.
B) achievement.
C) plan.
D) strategy.
E) task.
Question 4 - Home improvement retailer Menard's runs weekly sales in which you can get certain items for free after sending in a form and a copy of your sales receipt. This is an example of a:
A) frequent-user incentive.
B) rebate.
C) premium.
D) sweepstakes.
E) coupon.
Question 5 - Planning, organizing, leading/motivating, and controlling make up the:
A) four organizational goals every firm wants to achieve.
B) step-by-step management procedure.
C) four basic functions in the management process.
D) process of coordinating people and other resources to achieve the goals of the organization.
E) steps taken to achieve an organization's product launch plans.
Question 6 - If you buy 40 or more of Lancme cosmetics at Nordstrom, you receive a free full-size repair, lift or hydrate serum. What type of sales promotion does this represent?
A) Rebate
B) Coupon
C) Frequent-user incentive
D) Point-of-purchase display
E) Premium
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