Midterm II

A  FALSE

B  TRUE

A  demographics

B  product

C  end-use

D  psychographic

A  consumer products

B  target market

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

B  when the business firm converts raw materials into finished products

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  End-use segmentation

B  B2B

C  marketing mix

D  Market segmentation

E  secondary data

F  Comarketing

A  Consumer behavior

B  marketing mix

C  Affinity program

D  Exchange process

E  End-use segmentation

F  B2B

A  Ownership utility

B  B2B

C  End-use segmentation

D  Affinity program

E  Exchange process

F  Consumer behavior

A  Consumer behavior

B  End-use segmentation

C  secondary data

D  Affinity program

E  Exchange process

F  Market segmentation

A  Consumer behavior

B  Market segmentation

C  Comarketing

D  secondary data

E  Exchange process

F  End-use segmentation

A  secondary data

B  Comarketing

C  Market segmentation

D  End-use segmentation

E  B2B

F  Consumer behavior

A  secondary data

B  Consumer behavior

C  Exchange process

D  B2B

E  End-use segmentation

F  Comarketing

A  End-use segmentation

B  Consumer behavior

C  marketing mix

D  B2B

E  Affinity program

F  Market segmentation

A  marketing mix

B  Ownership utility

C  Market segmentation

D  Affinity program

E  Exchange process

F  Consumer behavior

A  marketing mix

B  Market segmentation

C  Exchange process

D  Consumer behavior

E  Ownership utility

F  Affinity program

A  Customer oriented

B  Product

C  Fixed

D  Process

A  Jewelry manufacturer

B  Software developer

C  Paper mill

D  Steel manufacturer

A  mechanization

B  specialization

C  quality management

D  standardization

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 other resources in the development of distribution channels and promotional strategies

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

A  process utility

B  time utility

C  distribution

D  production

A  Classroom-based training

B  An affirmative action program

C  A management development program

D  Cross-training

A  growth plans

B  values

C  profits

D  markets

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  less risk is involved.

B  existing suppliers and employees are in place

C  obtaining financing is often easier.

D  product or service is not known in the marketplace.

A  Marcel who cannot tolerate failures.

B  Gina who is driven by the need to excel

C  Philip who has an aversion for taking risks.

D  Fiona who blames others for her failures.

A  Production

B  Sales

C  Distribution

D  Marketing

A  Decline stage

B  Growth stage

C  Maturity stage

D  Introductory stage

A  stabilization

B  late maturity and decline

C  late introduction and growth

D  growth and maturity

A  Exchange

B  Utility

C  Marketing

D  Barter

A  social

B  psychological

C  safety

D  esteem

A  Operational planning

B  Strategic planning

C  Contingency planning

D  Tactical planning

A  symbolic attributes

B  physical characteristics

C  service attributes

D  benefits

A  FALSE

B  TRUE

A  pricing

B  production

C  promotional

D  product

A  Identify a target market

B  Implement the appropriate distribution system

C  Decide how to promote the product

D  Develop the right product

A  Marketing

B  Marketing research

C  Market segmentation

D  Consumer behavior

A  tax incentives

B  physical factors such as energy

C  proximity to suppliers

D  proximity to raw materials

A  Workers perform specialized tasks.

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

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

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

A  Standardization, job-order production, and specialized labor

B  Mechanization, specialized skills, and standardization

C  Analytic systems, synthetic systems, and continuous processes

D  Mechanization, specialized labor, and robots

A  Marketing

B  Distribution

C  Merchandising

D  Production

A  FALSE

B  TRUE

A  esteem

B  physiological

C  self-actualization

D  safety

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

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

C  people’s needs are based on their wants

D  higher order needs have to be satisfied first.

A  outsourcing

B  voluntary turnover

C  involuntary separation

D  downsizing

A  health insurance

B  Medicare

C  Social Security

D  unemployment insurance

A  salary

B  employee benefit

C  time wage

D  wage

A  salary

B  commission

C  bonus

D  wage

A  Supervising hourly employees on a daily basis

B  Maximizing employee effectiveness in the organization

C  Forecasting anticipated sales

D  Determining various sources of operating funds in the organization

A  employee recruitment

B  company budget forecasts

C  training and performance evaluation

D  employee compensation and benefits

A  Research and Development (R&D)

B  Human asset accounting

C  Change management

D  Human resource management

A  TRUE

B  FALSE

A  flexibility

B  commitment

C  delegation

D  leadership

A  They are held too frequently.

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 take place in the form of two-way communication.

A  attention, interest, desire and alternative

B  attention, interest, desire and action

C  observation, interest, desire and action

D  attention, interest, desire and advantage

A  enforce the Family and Medical Leave Act of 1993

B  investigate discrimination complaints

C  guarantee companies pay social security for all employees

D  determine employee benefits and compensation packages

A  Reviewing applications and résumés

B  Interviewing candidates

C  Identifying job requirements

D  Conducting employment tests

A  FALSE

B  TRUE