Midterm II

A  TRUE

B  FALSE

A  product

B  end-use

C  demographics

D  psychographic

A  target market

B  business products

C  consumer products

D  marketing mix

A  developed a marketing mix

B  developed a marketing plan

C  created personal utility

D  selected a target market

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

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 the business firm converts raw materials into finished products

A  Market segmentation

B  End-use segmentation

C  marketing mix

D  Comarketing

E  secondary data

F  B2B

A  Consumer behavior

B  marketing mix

C  Exchange process

D  End-use segmentation

E  Affinity program

F  B2B

A  Exchange process

B  Ownership utility

C  Affinity program

D  Consumer behavior

E  B2B

F  End-use segmentation

A  Exchange process

B  Consumer behavior

C  Market segmentation

D  End-use segmentation

E  secondary data

F  Affinity program

A  End-use segmentation

B  secondary data

C  Consumer behavior

D  Comarketing

E  Market segmentation

F  Exchange process

A  Market segmentation

B  secondary data

C  Consumer behavior

D  Comarketing

E  End-use segmentation

F  B2B

A  secondary data

B  Consumer behavior

C  Comarketing

D  B2B

E  Exchange process

F  End-use segmentation

A  End-use segmentation

B  Consumer behavior

C  B2B

D  marketing mix

E  Affinity program

F  Market segmentation

A  Market segmentation

B  Affinity program

C  Consumer behavior

D  Ownership utility

E  marketing mix

F  Exchange process

A  Exchange process

B  Affinity program

C  marketing mix

D  Ownership utility

E  Market segmentation

F  Consumer behavior

A  Fixed

B  Customer oriented

C  Product

D  Process

A  Steel manufacturer

B  Paper mill

C  Jewelry manufacturer

D  Software developer

A  standardization

B  mechanization

C  quality management

D  specialization

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

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

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

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

A  distribution

B  time utility

C  process utility

D  production

A  An affirmative action program

B  Cross-training

C  Classroom-based training

D  A management development program

A  markets

B  growth plans

C  profits

D  values

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

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

C  guarantees a reduction in production costs for a company.

D  encourages price-fixing.

A  existing suppliers and employees are in place

B  product or service is not known in the marketplace.

C  obtaining financing is often easier.

D  less risk is involved.

A  Marcel who cannot tolerate failures.

B  Gina who is driven by the need to excel

C  Fiona who blames others for her failures.

D  Philip who has an aversion for taking risks.

A  Production

B  Marketing

C  Distribution

D  Sales

A  Decline stage

B  Growth stage

C  Introductory stage

D  Maturity stage

A  late maturity and decline

B  growth and maturity

C  stabilization

D  late introduction and growth

A  Barter

B  Exchange

C  Utility

D  Marketing

A  psychological

B  social

C  safety

D  esteem

A  Tactical planning

B  Strategic planning

C  Contingency planning

D  Operational planning

A  symbolic attributes

B  benefits

C  physical characteristics

D  service attributes

A  TRUE

B  FALSE

A  product

B  production

C  pricing

D  promotional

A  Identify a target market

B  Develop the right product

C  Implement the appropriate distribution system

D  Decide how to promote the product

A  Consumer behavior

B  Market segmentation

C  Marketing

D  Marketing research

A  tax incentives

B  physical factors such as energy

C  proximity to raw materials

D  proximity to suppliers

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

B  Workers perform specialized tasks.

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  Mechanization, specialized skills, and standardization

B  Standardization, job-order production, and specialized labor

C  Mechanization, specialized labor, and robots

D  Analytic systems, synthetic systems, and continuous processes

A  Distribution

B  Merchandising

C  Marketing

D  Production

A  TRUE

B  FALSE

A  physiological

B  safety

C  self-actualization

D  esteem

A  higher order needs have to be satisfied first.

B  people’s needs are based on their wants

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

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

A  outsourcing

B  voluntary turnover

C  involuntary separation

D  downsizing

A  Social Security

B  unemployment insurance

C  Medicare

D  health insurance

A  time wage

B  wage

C  salary

D  employee benefit

A  salary

B  commission

C  wage

D  bonus

A  Maximizing employee effectiveness in the organization

B  Forecasting anticipated sales

C  Supervising hourly employees on a daily basis

D  Determining various sources of operating funds in the organization

A  employee compensation and benefits

B  employee recruitment

C  company budget forecasts

D  training and performance evaluation

A  Human resource management

B  Human asset accounting

C  Research and Development (R&D)

D  Change management

A  FALSE

B  TRUE

A  commitment

B  leadership

C  flexibility

D  delegation

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 take place in the form of two-way communication.

D  They are held too frequently.

A  attention, interest, desire and advantage

B  observation, interest, desire and action

C  attention, interest, desire and alternative

D  attention, interest, desire and action

A  guarantee companies pay social security for all employees

B  enforce the Family and Medical Leave Act of 1993

C  determine employee benefits and compensation packages

D  investigate discrimination complaints

A  Interviewing candidates

B  Reviewing applications and résumés

C  Identifying job requirements

D  Conducting employment tests

A  TRUE

B  FALSE