The Owner of Mercury Appraisal Company Held a Ribbon-Cutting Event

question 23

Multiple Choice

The owner of Mercury Appraisal Company held a ribbon-cutting event when he opened his new business.He invited city dignitaries,representatives from news media,and anyone who might have need of his services.The goal of his promotion was most likely which of the following?

• A) to show how his services were improved
• B) to create awareness
• C) to keep loyal customers
• D) to retain customers

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Definitions:

Wage Survey Data

Information collected on wage rates for various jobs within an industry or region, used to compare and set competitive salaries.

Internal Equity

A pay strategy ensuring fairness in employees' wages within the same organization, based on job value and employee contribution.

External Equity

A principle in compensation management that ensures an organization's pay rates are competitive with those in the external labor market.

Hay Profile Method

A job evaluation technique that assesses roles based on knowledge, problem solving, accountability, and working conditions to determine pay scales.