Question

8 Which method of sales forecasting is based on the informal but informed opinions of​ managers?

A. The product stages method

B. The jury of executive opinion method

C. The moving average method

D. The regression method

E. The salesforce estimation method

10 During the​ ________ stage of the product life​ cycle, sales are primarily based on the need to replace products.

A. growth

B. maturity

C. decline

D. introduction

E. Saturation

13 Which management function precedes and is the basis for other management​ functions?

A. Influencing

B. Controlling

C. Financing

D. Planning

E. Organizing

14 When setting objectives for where a firm would like to be in comparison to​ competitors, what key area of objectives is being​ considered?

A. Productivity

B. Innovation

C. Market standing

D. Profitability

E. Physical and financial resources

21 What step in the management by objectives process involves the manager and the worker checking to see whether the objectives are being​ reached?

A. Evaluate performance

B. Monitor progress

C. Set worker objectives

D. Give rewards

E. Create new objectives

22 At which step would a manager develop strategic and tactical plans in the planning​ process?

A. When choosing the best alternative

B. When listing alternative ways of reaching objectives

C. When formulating organizational objectives

D. When putting plans into action

E. When developing plans to pursue the chosen alternative

Answer 1

8) B

In this, managers have informal but informed opinion on sales forecast

10) C

In the decline stage, there is need to replace the product

13) D

Planning is the basis for all other management functions

14) C

When a firm would like to stand out in comparison to competitors, it is considered as Market standing