Midterm II

A  FALSE

B  TRUE

A  end-use

B  psychographic

C  product

D  demographics

A  consumer products

B  business products

C  marketing mix

D  target market

A  developed a marketing mix

B  developed a marketing plan

C  created personal utility

D  selected a target market

A  when the business firm converts raw materials into finished products

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

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  Comarketing

B  End-use segmentation

C  secondary data

D  Market segmentation

E  B2B

F  marketing mix

A  B2B

B  Affinity program

C  Exchange process

D  Consumer behavior

E  End-use segmentation

F  marketing mix

A  B2B

B  Consumer behavior

C  Exchange process

D  Ownership utility

E  End-use segmentation

F  Affinity program

A  Exchange process

B  Market segmentation

C  secondary data

D  Affinity program

E  Consumer behavior

F  End-use segmentation

A  Market segmentation

B  Consumer behavior

C  Comarketing

D  Exchange process

E  End-use segmentation

F  secondary data

A  Market segmentation

B  B2B

C  secondary data

D  Consumer behavior

E  Comarketing

F  End-use segmentation

A  Consumer behavior

B  secondary data

C  Exchange process

D  B2B

E  Comarketing

F  End-use segmentation

A  End-use segmentation

B  Affinity program

C  Consumer behavior

D  Market segmentation

E  marketing mix

F  B2B

A  marketing mix

B  Exchange process

C  Affinity program

D  Market segmentation

E  Ownership utility

F  Consumer behavior

A  marketing mix

B  Consumer behavior

C  Affinity program

D  Market segmentation

E  Exchange process

F  Ownership utility

A  Process

B  Product

C  Fixed

D  Customer oriented

A  Steel manufacturer

B  Software developer

C  Jewelry manufacturer

D  Paper mill

A  standardization

B  mechanization

C  specialization

D  quality management

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

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 determine the most economical routes for transporting the firms’ products

A  distribution

B  time utility

C  production

D  process utility

A  Cross-training

B  Classroom-based training

C  A management development program

D  An affirmative action program

A  growth plans

B  profits

C  markets

D  values

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  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  Gina who is driven by the need to excel

B  Marcel who cannot tolerate failures.

C  Philip who has an aversion for taking risks.

D  Fiona who blames others for her failures.

A  Production

B  Distribution

C  Sales

D  Marketing

A  Maturity stage

B  Growth stage

C  Introductory stage

D  Decline stage

A  late introduction and growth

B  stabilization

C  growth and maturity

D  late maturity and decline

A  Barter

B  Marketing

C  Utility

D  Exchange

A  psychological

B  social

C  esteem

D  safety

A  Contingency planning

B  Operational planning

C  Tactical planning

D  Strategic planning

A  benefits

B  symbolic attributes

C  physical characteristics

D  service attributes

A  FALSE

B  TRUE

A  production

B  product

C  promotional

D  pricing

A  Decide how to promote the product

B  Implement the appropriate distribution system

C  Develop the right product

D  Identify a target market

A  Marketing research

B  Market segmentation

C  Consumer behavior

D  Marketing

A  proximity to suppliers

B  tax incentives

C  proximity to raw materials

D  physical factors such as energy

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  Standardization, job-order production, and specialized labor

B  Analytic systems, synthetic systems, and continuous processes

C  Mechanization, specialized labor, and robots

D  Mechanization, specialized skills, and standardization

A  Distribution

B  Marketing

C  Production

D  Merchandising

A  FALSE

B  TRUE

A  esteem

B  self-actualization

C  physiological

D  safety

A  people’s needs are based on their wants

B  higher order needs have to be satisfied first.

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

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

A  outsourcing

B  involuntary separation

C  voluntary turnover

D  downsizing

A  health insurance

B  Medicare

C  unemployment insurance

D  Social Security

A  wage

B  salary

C  time wage

D  employee benefit

A  salary

B  bonus

C  wage

D  commission

A  Determining various sources of operating funds in the organization

B  Supervising hourly employees on a daily basis

C  Maximizing employee effectiveness in the organization

D  Forecasting anticipated sales

A  employee recruitment

B  training and performance evaluation

C  company budget forecasts

D  employee compensation and benefits

A  Human resource management

B  Human asset accounting

C  Change management

D  Research and Development (R&D)

A  FALSE

B  TRUE

A  commitment

B  flexibility

C  leadership

D  delegation

A  They are held too frequently.

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

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 action

B  observation, interest, desire and action

C  attention, interest, desire and advantage

D  attention, interest, desire and alternative

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  Conducting employment tests

B  Reviewing applications and résumés

C  Interviewing candidates

D  Identifying job requirements

A  FALSE

B  TRUE