Midterm II

A  FALSE

B  TRUE

A  demographics

B  psychographic

C  product

D  end-use

A  consumer products

B  target market

C  marketing mix

D  business products

A  developed a marketing mix

B  created personal utility

C  selected a target market

D  developed a marketing plan

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

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

A  secondary data

B  Market segmentation

C  End-use segmentation

D  Comarketing

E  marketing mix

F  B2B

A  Consumer behavior

B  End-use segmentation

C  marketing mix

D  Exchange process

E  B2B

F  Affinity program

A  Affinity program

B  End-use segmentation

C  Exchange process

D  Ownership utility

E  B2B

F  Consumer behavior

A  secondary data

B  End-use segmentation

C  Affinity program

D  Exchange process

E  Market segmentation

F  Consumer behavior

A  Market segmentation

B  Consumer behavior

C  End-use segmentation

D  Exchange process

E  secondary data

F  Comarketing

A  secondary data

B  End-use segmentation

C  Consumer behavior

D  B2B

E  Comarketing

F  Market segmentation

A  secondary data

B  B2B

C  Consumer behavior

D  End-use segmentation

E  Exchange process

F  Comarketing

A  Market segmentation

B  B2B

C  marketing mix

D  Affinity program

E  Consumer behavior

F  End-use segmentation

A  Market segmentation

B  marketing mix

C  Consumer behavior

D  Affinity program

E  Exchange process

F  Ownership utility

A  Consumer behavior

B  marketing mix

C  Exchange process

D  Market segmentation

E  Ownership utility

F  Affinity program

A  Fixed

B  Customer oriented

C  Product

D  Process

A  Paper mill

B  Software developer

C  Steel manufacturer

D  Jewelry manufacturer

A  quality management

B  mechanization

C  standardization

D  specialization

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

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

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

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

A  production

B  process utility

C  time utility

D  distribution

A  A management development program

B  An affirmative action program

C  Classroom-based training

D  Cross-training

A  profits

B  markets

C  growth plans

D  values

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

B  guarantees a reduction in production costs for a company.

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

D  encourages price-fixing.

A  obtaining financing is often easier.

B  less risk is involved.

C  existing suppliers and employees are in place

D  product or service is not known in the marketplace.

A  Fiona who blames others for her failures.

B  Philip who has an aversion for taking risks.

C  Gina who is driven by the need to excel

D  Marcel who cannot tolerate failures.

A  Marketing

B  Distribution

C  Sales

D  Production

A  Growth stage

B  Introductory stage

C  Maturity stage

D  Decline stage

A  growth and maturity

B  stabilization

C  late maturity and decline

D  late introduction and growth

A  Barter

B  Exchange

C  Marketing

D  Utility

A  esteem

B  social

C  safety

D  psychological

A  Strategic planning

B  Tactical planning

C  Contingency planning

D  Operational planning

A  service attributes

B  benefits

C  physical characteristics

D  symbolic attributes

A  FALSE

B  TRUE

A  pricing

B  promotional

C  production

D  product

A  Implement the appropriate distribution system

B  Decide how to promote the product

C  Develop the right product

D  Identify a target market

A  Market segmentation

B  Consumer behavior

C  Marketing

D  Marketing research

A  proximity to raw materials

B  physical factors such as energy

C  tax incentives

D  proximity to suppliers

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

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

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

D  Workers perform specialized tasks.

A  Mechanization, specialized skills, and standardization

B  Analytic systems, synthetic systems, and continuous processes

C  Mechanization, specialized labor, and robots

D  Standardization, job-order production, and specialized labor

A  Production

B  Marketing

C  Distribution

D  Merchandising

A  FALSE

B  TRUE

A  physiological

B  self-actualization

C  safety

D  esteem

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

B  people’s needs are based on their wants

C  higher order needs have to be satisfied first.

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

A  involuntary separation

B  outsourcing

C  voluntary turnover

D  downsizing

A  health insurance

B  unemployment insurance

C  Medicare

D  Social Security

A  salary

B  time wage

C  employee benefit

D  wage

A  salary

B  bonus

C  commission

D  wage

A  Determining various sources of operating funds in the organization

B  Forecasting anticipated sales

C  Supervising hourly employees on a daily basis

D  Maximizing employee effectiveness in the organization

A  employee compensation and benefits

B  training and performance evaluation

C  employee recruitment

D  company budget forecasts

A  Change management

B  Human asset accounting

C  Human resource management

D  Research and Development (R&D)

A  FALSE

B  TRUE

A  flexibility

B  commitment

C  delegation

D  leadership

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

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

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

D  They are held too frequently.

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  guarantee companies pay social security for all employees

C  enforce the Family and Medical Leave Act of 1993

D  determine employee benefits and compensation packages

A  Identifying job requirements

B  Conducting employment tests

C  Reviewing applications and résumés

D  Interviewing candidates

A  FALSE

B  TRUE