Element of the Marketing Mix That Describes a Means of Communication

question 250

Multiple Choice

element of the marketing mix that describes a means of communication between the seller and buyer is known as

• A) a product.
• B) promotion.
• C) the price.
• D) the place or distribution.
• E) advertising.

Identify potential negative outcomes of incentive systems based on meeting predetermined standards.

Recognize the importance and methods of setting standards, including benchmarking and time and motion studies.

Grasp the role and calculation of standard costs in production, including material and labor variances.

Understand how variance analysis is used for control purposes and to highlight areas for corrective action.

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Definitions:

Equal Pay Act

A law aimed at abolishing wage disparity based on sex by ensuring equal pay for equal work for both men and women.

PATRIOT Act

Legislation enacted in the United States to enhance law enforcement investigatory tools and abilities, particularly in response to terrorism.

Equal Employment Opportunity Commission

A federal agency responsible for enforcing laws against workplace discrimination and advocating for fair treatment of all employees.

National Labor Relations Board

The National Labor Relations Board (NLRB) is an independent US federal agency responsible for enforcing US labor law in regard to collective bargaining and unfair labor practices.