Marketing Essentials

Unit 1: The World of Marketing

Math Workout

1
The fixed costs for your T-shirt business include the following for May: rent $1500 and utilities $500. If your production costs, including employee benefits and materials are $3000, what is the cost per item if you produce 1000 T-shirts?
A)$2
B)$5
C)$50
D)$30
2
Yearly fixed costs for your toy business are $20,000. What is the difference in cost per item if you spend $50,000 per year in production costs to produce 200,000 items or $30,000 per year to produce 100,000 items?
A)$0.15
B)$0.85
C)$0.30
D)$0.05
3
The retail price on an item is $24.99. If production costs are 32% of retail, what is the gross profit on each item sold?
A)$7.99
B)$32.99
C)$19.49
D)$16.99
4
At Computer World, someone without a marketing degree can get an entry-level job that pays $20,000 a year. However, a person with a marketing degree qualifies for a job that pays 15% more per year. What is the starting salary of someone with a marketing degree at Computer World?
A)$23,500
B)$17,000
C)$23,000
D)$20,015
5
Since you have a background in marketing, your boss at your new job tells you that you are eligible for a 5% yearly increase in pay after one year. If your salary is $32,000, what will your salary be next year?
A)$48,000
B)$33,600
C)$30,400
D)$16,000
6
You have interviewed for jobs at two different businesses and have received offers from both. Business A has offered you a starting salary of $30,000, with a yearly increase of 6%. Business B has offered you $28,000 with a yearly increase of 7%. Assuming you plan to stay in the job for five years, which job would pay you more over the five years?
A)Business A
B)Business B
C)They’re the same
D)Not enough information
7
As you strategize about the location of the new branch of the electronics store your company will be opening, you consider two locations. One is on a busy block where about 350 people pass daily. The other is in front of a high school where about 250 students pass daily. Your research tells you that, typically, about 35% of the general public and 45% of high school students passing by will enter an electronics store and buy something. At which location will more sales be made?
A)Busy block location
B)High school location
C)Same at both locations
D)Not enough information
8
You are trying to decide how to advertise a new product that your company has developed. You can either air a television commercial for about $40,000 that is likely to be seen by about one million people, or you can advertise in magazines for about $27,000 but will be seen by only 900,000 people. How much less expensive is magazine advertising per contact?
A)$0.10 per contact
B)$0.50 per contact
C)$0.08 per contact
D)$0.01 per contact
9
Seventy-five percent of purchases of golf clubs at your company are made by men each year. If 2,450 women purchased the clubs this year, how many sets of clubs were sold to men?
A)9,800 sets of clubs
B)1,838 sets of clubs
C)7,350 sets of clubs
D)4,288 sets of clubs
10
Suppose a city has a population of 780,000 that is 60% Caucasian, 25% African-American, and 15% Hispanic. You are selling a product that typically appeals to Hispanic people. How many people are you targeting with your marketing campaign?
A)117,000
B)312,000
C)897,000
D)663,000
11
There are about 25,000 women over 50 years of age in the community where you have just launched an ad campaign. If this group represents about 8% of the population, what is the total population?
A)45,000
B)312,500
C)200,000
D)31,250
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