Midterm II

A  TRUE

B  FALSE

A  end-use

B  demographics

C  psychographic

D  product

A  business products

B  target market

C  consumer products

D  marketing mix

A  selected a target market

B  developed a marketing plan

C  developed a marketing mix

D  created personal utility

A  when the business firm converts raw materials into finished products

B  when the product is made available to the consumer at a time the consumer wants to buy it

C  when arrangements for the transfer of title from seller to buyer are made

D  by having the good or service available at a convenient location when the consumer wants to buy it

A  secondary data

B  marketing mix

C  B2B

D  End-use segmentation

E  Comarketing

F  Market segmentation

A  marketing mix

B  Exchange process

C  End-use segmentation

D  B2B

E  Consumer behavior

F  Affinity program

A  B2B

B  Consumer behavior

C  Ownership utility

D  Exchange process

E  End-use segmentation

F  Affinity program

A  Consumer behavior

B  secondary data

C  Exchange process

D  End-use segmentation

E  Market segmentation

F  Affinity program

A  Market segmentation

B  secondary data

C  End-use segmentation

D  Exchange process

E  Consumer behavior

F  Comarketing

A  B2B

B  secondary data

C  Consumer behavior

D  Comarketing

E  Market segmentation

F  End-use segmentation

A  Comarketing

B  Consumer behavior

C  End-use segmentation

D  secondary data

E  Exchange process

F  B2B

A  Consumer behavior

B  Affinity program

C  Market segmentation

D  marketing mix

E  B2B

F  End-use segmentation

A  Market segmentation

B  Ownership utility

C  Exchange process

D  marketing mix

E  Consumer behavior

F  Affinity program

A  Affinity program

B  Consumer behavior

C  Ownership utility

D  Exchange process

E  marketing mix

F  Market segmentation

A  Product

B  Fixed

C  Process

D  Customer oriented

A  Paper mill

B  Steel manufacturer

C  Jewelry manufacturer

D  Software developer

A  quality management

B  specialization

C  mechanization

D  standardization

A  To manage the use of people and other resources in the development of distribution channels and promotional strategies

B  To determine the most economical routes for transporting the firms’ products

C  To manage the use of people and machinery in converting materials and resources into finished goods and services

D  To design systems that will provide managers with information useful for decision making

A  distribution

B  process utility

C  time utility

D  production

A  An affirmative action program

B  Classroom-based training

C  Cross-training

D  A management development program

A  markets

B  values

C  growth plans

D  profits

A  is a method that guarantees a firm monopoly in a market and allows it to eliminate competition.

B  encourages price-fixing.

C  guarantees a reduction in production costs for a company.

D  is the unique combination of abilities and approaches that sets a company apart from its competitors.

A  obtaining financing is often easier.

B  less risk is involved.

C  product or service is not known in the marketplace.

D  existing suppliers and employees are in place

A  Fiona who blames others for her failures.

B  Philip who has an aversion for taking risks.

C  Marcel who cannot tolerate failures.

D  Gina who is driven by the need to excel

A  Sales

B  Marketing

C  Distribution

D  Production

A  Growth stage

B  Introductory stage

C  Maturity stage

D  Decline stage

A  late maturity and decline

B  late introduction and growth

C  growth and maturity

D  stabilization

A  Utility

B  Marketing

C  Barter

D  Exchange

A  safety

B  psychological

C  social

D  esteem

A  Strategic planning

B  Operational planning

C  Tactical planning

D  Contingency planning

A  physical characteristics

B  benefits

C  service attributes

D  symbolic attributes

A  FALSE

B  TRUE

A  product

B  production

C  pricing

D  promotional

A  Identify a target market

B  Decide how to promote the product

C  Implement the appropriate distribution system

D  Develop the right product

A  Market segmentation

B  Consumer behavior

C  Marketing research

D  Marketing

A  proximity to suppliers

B  proximity to raw materials

C  physical factors such as energy

D  tax incentives

A  Workers perform specialized tasks.

B  It is inefficient for producing small batches of different items.

C  It moves the product along a conveyor belt past a number of workstations.

D  Managers are seldom able to create conditions for high productivity.

A  Standardization, job-order production, and specialized labor

B  Mechanization, specialized labor, and robots

C  Analytic systems, synthetic systems, and continuous processes

D  Mechanization, specialized skills, and standardization

A  Marketing

B  Production

C  Merchandising

D  Distribution

A  FALSE

B  TRUE

A  safety

B  self-actualization

C  esteem

D  physiological

A  higher order needs have to be satisfied first.

B  people’s needs are based on their wants

C  satisfied needs are motivators and unsatisfied needs are not motivators.

D  people’s needs are arranged in a hierarchy of importance

A  involuntary separation

B  downsizing

C  voluntary turnover

D  outsourcing

A  health insurance

B  Social Security

C  unemployment insurance

D  Medicare

A  time wage

B  wage

C  employee benefit

D  salary

A  bonus

B  wage

C  salary

D  commission

A  Forecasting anticipated sales

B  Supervising hourly employees on a daily basis

C  Determining various sources of operating funds in the organization

D  Maximizing employee effectiveness in the organization

A  company budget forecasts

B  employee compensation and benefits

C  training and performance evaluation

D  employee recruitment

A  Change management

B  Research and Development (R&D)

C  Human resource management

D  Human asset accounting

A  TRUE

B  FALSE

A  commitment

B  flexibility

C  leadership

D  delegation

A  They are mostly based on criteria that are objective rather than subjective.

B  They are held too frequently.

C  They take place in the form of two-way communication.

D  They may be skewed in favor of a single manager’s subjective opinion.

A  attention, interest, desire and alternative

B  attention, interest, desire and action

C  attention, interest, desire and advantage

D  observation, interest, desire and action

A  investigate discrimination complaints

B  determine employee benefits and compensation packages

C  guarantee companies pay social security for all employees

D  enforce the Family and Medical Leave Act of 1993

A  Identifying job requirements

B  Reviewing applications and résumés

C  Interviewing candidates

D  Conducting employment tests

A  FALSE

B  TRUE