Final Exam

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Question #1

Job ___________ combines a series of tasks into one assignment that is more challenging, interesting, and motivating. ,,

A maximization

B enlargement

C enhancement

D optimization

Question #2

Historically, the most potent union tactic when collective bargaining efforts break down has been the:,,

A primary boycott.

B strike.

C lockout.

D court injunction.

Question #3

_____________ is the process by which representatives of a union meet with representatives of management to negotiate a contract for workers. ,,

A Mediation

B Arbitration

C Collective bargaining

D Mutual Conciliation

Question #4

Labor unions were largely responsible for:,,

A the passage of NAFTA.

B minimum wage laws and laws against child labor.

C establishing the Republican party.

D the basic structure of the federal income tax system.

Question #5

Title VII of the Civil Rights Act of 1964:

A requires all firms with over 100 employees to have an affirmative action plan.

B prohibits discrimination based on race, religion, sex, creed, or national origin in matters such as hiring, firing, training, and compensation.

C prohibits firms from using employment testing as a means of selecting employees and determining which employees should be promoted.

D gives all citizens over the age of 18 the right to vote regardless of race, religion, sex, or creed.

Question #6

_____________ is the process of evaluating human resource needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve organizational goals.

A Job analysis

B Human resource management

C Staffing

D Performance evaluation and response

Question #7

At Qliktech, the company CEO, Lars Bjork, honors employees who demonstrate the company’s core values. Qliktech holds a summit each year, where it selects and awards one employee in each of several values categories that include (1) challenge; (2) move fast; (3) be open and straightforward; (4) teamwork for results; and (5) take responsibility. Rather than posting core values for everyone to pass by each day, the CEO finds that providing _________ rewards once each year provides the message to all employees that these are important values.

A extrinsic

B valued

C equality

D intrinsic

Question #8

The goal of lean manufacturing is to:

A become more self sufficient by producing major components rather than buying them.

B produce a very limited variety of goods.

C keep inventories of finished goods as high as possible.

D produce goods and services with less of everything that goes into the process.

Question #9

Operations management is a specialized area in management that converts resources into:

A services, rather than goods.

B both goods and services.

C financial data.

D goods, rather than services.

Question #10

The ________ an organization’s structure, the ________ the span of control.

A taller; wider

B taller; flatter

C flatter; narrower

D flatter; wider

Question #11

The more standardized the work, the wider the span of control.

A TRUE

B FALSE

Question #12

A key to effective leadership is the ability to:

A maintain order, stability, and control.

B master the technical details of the jobs performed by subordinates.

C communicate a vision and rally others around that vision.

D maintain an autocratic approach to dealing with others.

Question #13

Management is more progressive today. There is more emphasis on:

A individual work that can be successfully measured.

B placing greater reliance on the government for financing.

C striving to eliminate the control function of management.

D working in teams.

Question #14

A detailed written statement that describes the nature of the business, the target market, the firm’s competitive advantages, as well as the owner’s resources and qualifications is a:

A profit and loss statement.

B business plan.

C professional action plan.

D entrepreneurial mission statement.

Question #15

Entrepreneurs are less important now than in the past to the U.S. economy.

A FALSE

B TRUE

Question #16

A(n) _____________ is a company that has a proven business model and is willing to sell the rights to use the business model to others so that they can sell the same product or service within a given territory.

A franchisor

B limited partner

C intrapreneur

D franchisee

Question #17

Selma owns a roofing business. She enjoys being her own boss, but her satisfaction comes at a price. Her days are filled with organizing the activities of her employees and soliciting new customers. She often misses activities with friends and family because of the obligations of running her own business. She also knows that she has unlimited personal liability for any of her firm’s debts. Selma’s business is organized as a(n):

A Joint venture.

B C corporation.

C S corporation.

D Sole proprietorship.

Question #18

A(n) _______ -based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.

A integrity

B legal

C compliance

D corporate responsibility

Question #19

A society gets into trouble when people consider only what is illegal and not also what is ethical or unethical.

A TRUE

B FALSE

Question #20

__________ is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell the parent company’s product or service to others in a given territory in a specified manner.

A Export trading

B Import trading

C Franchising

D Contract manufacturing

Question #21

_________ is the name of a free-market economic system in which most of the factors of production and distribution – such as land, factories, railroads, and stores – are owned by individuals.

A Marginalism

B Communism

C Socialism

D Capitalism

Question #22

America’s business success is largely due to an economic and social climate that allows businesses to operate freely.

A TRUE

B FALSE

Question #23

Taxes and government regulations are part of the ________________ environment of business.

A economic and legal

B social

C technological

D competitive

Question #24

Which of the following is a benefit of owning your own business?

A Government supported health insurance

B Shorter work hours

C More camaraderie with employees

D Freedom to keep the profits from your business

Question #25

Which of the following is required to build meaningful relationships with customers?

A Giving consumers access to limited information

B “Promoting to” rather than “working with” customers

C Offering full-service purchases over their cell phones

D Tracking customer purchases

Question #26

Which of the following refers to the practice of paying to have a product appear favorably in a TV show or movie?

A Interactive promotion

B Product placement

C Brand association

D Market recognition

Question #27

_________ refers to any paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message.

A Promotion

B Advertising

C Public relations

D Publicity

Question #28

A promotional campaign begins by:

A identifying a target market.

B defining the objectives for each element of the promotion mix.

C developing a unifying message.

D determining a promotional budget.

Question #29

Because TV advertising is so expensive, it is less popular than in the past, it now ranks sixth in total advertising expenditures.

A TRUE

B FALSE

Question #30

The last step in creating a promotional campaign is to evaluate the effectiveness of each element of the promotional mix.

A FALSE

B TRUE

Question #31

Bunny Babbett has just become an independent contractor selling the products of Tweethouse, a firm that makes elaborate (and expensive) birdhouses and bird feeders. Bunny was recruited to the firm by Sylvester Katt, who already sells the Tweethouse products as an independent contractor. Sylvester told Bunny that both he and she would receive a commission on every item she sold. He also pointed out that she could boost her income significantly by recruiting more people to sell the products, because she would receive a commission on her recruits’ sales. The arrangement described by Sylvester suggests that Tweethouse is using:

A the Lorenzo method.

B line and staff selling.

C multilevel marketing.

D hierarchical distribution.

Question #32

__________ manages the movement of raw materials, parts, work in progress, finished goods and related information throughout the supply chain, as well as managing the return of goods when necessary and the recycling of goods when appropriate.

A Distribution planning

B Multilevel marketing

C Supply chain management

D Distributional strategy

Question #33

Candy, gum, cigarettes, and popular magazines are usually distributed using a selective distribution strategy.

A TRUE

B FALSE

Question #34

Lazario Motor Car Company produces some of the most luxurious and expensive cars in the world. The company typically authorizes only a single dealership to sell its cars in certain major metropolitan areas. In less populous areas, Lazario authorizes a single dealer for an entire state or region. The manufacturer of Lazario automobiles is using a(n) ___________ distribution strategy for its product.

A exclusive

B intensive

C primary

D extrinsic

Question #35

A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

A input-output matrix

B marketing network

C channel of distribution

D mode of distribution

Question #36

A street vendor selling Rolex watches at ridiculously low prices approached Ted. Ted, however, was suspicious that the watches were illegal ________ brands.

A knockoff

B private

C look alike

D generic

Question #37

The Pillsbury Doughboy is an example of a:

A private brand.

B generic label.

C patent.

D trademark.

Question #38

Marketers use pricing, advertising, and packaging to differentiate their products from competitors’ products even when actual differences are quite small.

A TRUE

B FALSE

Question #39

The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:

A brand relations.

B brand loyalty.

C brand awareness.

D brand intensity.

Question #40

Attracting attention, describing contents, explaining benefits and identifying the uses of a product are all functions of:

A market segmentation.

B target marketing.

C packaging.

D Universal Product Codes.

Question #41

The combination of product lines offered by a manufacturer is called the firm’s:

A product matrix.

B product mix.

C product portfolio.

D total product offer.

Question #42

McDonald’s prides itself on offering precisely the same menu around the world so that customers know exactly what to expect when they eat at a McDonald’s.

A FALSE

B TRUE

Question #43

Which of the following is considered a step in the marketing research process?

A setting the price for a product

B planning for product modifications and test advertising

C defining the question and determining the present situation

D designing a product to meet the need based on research

Question #44

Which of the following is part of the marketing process?

A determining an appropriate brand name for a new product

B contacting suppliers after a purchase to ensure producer satisfaction

C designing the most efficient method of production of a new product

D developing an understanding of company finances available for new products

Question #45

Which of the following would be considered part of a firm’s marketing mix?

A identifying the best source of funds to finance a firm’s marketing activities

B establishing a production schedule that enables the firm to meet forecasted sales

C designing the most efficient production plan

D determining the best pricing strategy for a product

Question #46

A key element of customer relationship management is to:

A allow customers to participate in the management decisions of the firm.

B develop a strategy to achieve the largest possible market share.

C learn as much as possible about customers.

D keep the price of goods as low as possible.

Question #47

The activities of marketers depend on what needs to be done to satisfy consumer wants and needs, in other words, helping the buyer buy.

A FALSE

B TRUE

Question #48

The purpose of market segmentation is to identify the features of a product that will appeal to as many customers as possible.

A FALSE

B TRUE

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