Midterm II

A  FALSE

B  TRUE

A  end-use

B  demographics

C  psychographic

D  product

A  consumer products

B  business products

C  marketing mix

D  target market

A  developed a marketing plan

B  selected a target market

C  developed a marketing mix

D  created personal utility

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

B  when the business firm converts raw materials into finished products

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

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

A  End-use segmentation

B  secondary data

C  Market segmentation

D  marketing mix

E  B2B

F  Comarketing

A  Affinity program

B  End-use segmentation

C  Exchange process

D  Consumer behavior

E  B2B

F  marketing mix

A  B2B

B  End-use segmentation

C  Ownership utility

D  Affinity program

E  Consumer behavior

F  Exchange process

A  Consumer behavior

B  secondary data

C  Affinity program

D  Exchange process

E  Market segmentation

F  End-use segmentation

A  Market segmentation

B  Comarketing

C  Consumer behavior

D  Exchange process

E  End-use segmentation

F  secondary data

A  B2B

B  Consumer behavior

C  Comarketing

D  secondary data

E  Market segmentation

F  End-use segmentation

A  B2B

B  secondary data

C  Exchange process

D  Comarketing

E  Consumer behavior

F  End-use segmentation

A  End-use segmentation

B  Consumer behavior

C  Affinity program

D  Market segmentation

E  B2B

F  marketing mix

A  marketing mix

B  Ownership utility

C  Affinity program

D  Consumer behavior

E  Exchange process

F  Market segmentation

A  marketing mix

B  Affinity program

C  Exchange process

D  Ownership utility

E  Market segmentation

F  Consumer behavior

A  Fixed

B  Process

C  Product

D  Customer oriented

A  Jewelry manufacturer

B  Paper mill

C  Steel manufacturer

D  Software developer

A  standardization

B  specialization

C  mechanization

D  quality management

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

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

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

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

A  production

B  time utility

C  process utility

D  distribution

A  An affirmative action program

B  Cross-training

C  A management development program

D  Classroom-based training

A  markets

B  values

C  profits

D  growth plans

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

B  encourages price-fixing.

C  guarantees a reduction in production costs for a company.

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

A  product or service is not known in the marketplace.

B  less risk is involved.

C  existing suppliers and employees are in place

D  obtaining financing is often easier.

A  Philip who has an aversion for taking risks.

B  Gina who is driven by the need to excel

C  Fiona who blames others for her failures.

D  Marcel who cannot tolerate failures.

A  Marketing

B  Sales

C  Distribution

D  Production

A  Decline stage

B  Introductory stage

C  Maturity stage

D  Growth stage

A  late maturity and decline

B  stabilization

C  growth and maturity

D  late introduction and growth

A  Exchange

B  Marketing

C  Barter

D  Utility

A  social

B  psychological

C  esteem

D  safety

A  Operational planning

B  Contingency planning

C  Tactical planning

D  Strategic planning

A  service attributes

B  benefits

C  physical characteristics

D  symbolic attributes

A  TRUE

B  FALSE

A  promotional

B  product

C  pricing

D  production

A  Decide how to promote the product

B  Develop the right product

C  Identify a target market

D  Implement the appropriate distribution system

A  Marketing research

B  Marketing

C  Market segmentation

D  Consumer behavior

A  proximity to raw materials

B  tax incentives

C  physical factors such as energy

D  proximity to suppliers

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

B  Workers perform specialized tasks.

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

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

A  Mechanization, specialized labor, and robots

B  Standardization, job-order production, and specialized labor

C  Mechanization, specialized skills, and standardization

D  Analytic systems, synthetic systems, and continuous processes

A  Marketing

B  Merchandising

C  Distribution

D  Production

A  TRUE

B  FALSE

A  physiological

B  esteem

C  self-actualization

D  safety

A  higher order needs have to be satisfied first.

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

C  people’s needs are based on their wants

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

A  outsourcing

B  involuntary separation

C  downsizing

D  voluntary turnover

A  health insurance

B  unemployment insurance

C  Medicare

D  Social Security

A  salary

B  wage

C  employee benefit

D  time wage

A  wage

B  bonus

C  commission

D  salary

A  Maximizing employee effectiveness in the organization

B  Forecasting anticipated sales

C  Determining various sources of operating funds in the organization

D  Supervising hourly employees on a daily basis

A  employee compensation and benefits

B  employee recruitment

C  training and performance evaluation

D  company budget forecasts

A  Research and Development (R&D)

B  Human resource management

C  Human asset accounting

D  Change management

A  FALSE

B  TRUE

A  flexibility

B  leadership

C  delegation

D  commitment

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

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

C  They are held too frequently.

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

A  attention, interest, desire and action

B  observation, interest, desire and action

C  attention, interest, desire and advantage

D  attention, interest, desire and alternative

A  enforce the Family and Medical Leave Act of 1993

B  investigate discrimination complaints

C  determine employee benefits and compensation packages

D  guarantee companies pay social security for all employees

A  Conducting employment tests

B  Interviewing candidates

C  Reviewing applications and résumés

D  Identifying job requirements

A  FALSE

B  TRUE