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 optimization

C enlargement

D enhancement

Question #2

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

A court injunction.

B primary boycott.

C strike.

D lockout.

Question #3

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

A Mutual Conciliation

B Arbitration

C Mediation

D Collective bargaining

Question #4

Labor unions were largely responsible for:,,

A minimum wage laws and laws against child labor.

B establishing the Republican party.

C the passage of NAFTA.

D the basic structure of the federal income tax system.

Question #5

Title VII of the Civil Rights Act of 1964:

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

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

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 Human resource management

B Job analysis

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 valued

B intrinsic

C equality

D extrinsic

Question #8

The goal of lean manufacturing is to:

A produce a very limited variety of goods.

B keep inventories of finished goods as high as possible.

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

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 financial data.

B services, rather than goods.

C goods, rather than services.

D both goods and services.

Question #10

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

A flatter; narrower

B taller; wider

C taller; flatter

D flatter; wider

Question #11

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

A FALSE

B TRUE

Question #12

A key to effective leadership is the ability to:

A maintain order, stability, and control.

B communicate a vision and rally others around that vision.

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

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 working in teams.

C placing greater reliance on the government for financing.

D striving to eliminate the control function of management.

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 entrepreneurial mission statement.

B professional action plan.

C profit and loss statement.

D business plan.

Question #15

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

A TRUE

B FALSE

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 franchisee

B intrapreneur

C limited partner

D franchisor

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 S corporation.

B Sole proprietorship.

C C corporation.

D Joint venture.

Question #18

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

A integrity

B compliance

C legal

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 FALSE

B TRUE

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 Franchising

B Export trading

C Import trading

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 Socialism

B Communism

C Capitalism

D Marginalism

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 competitive

B technological

C social

D economic and legal

Question #24

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

A Shorter work hours

B Freedom to keep the profits from your business

C More camaraderie with employees

D Government supported health insurance

Question #25

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

A Tracking customer purchases

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

C Offering full-service purchases over their cell phones

D Giving consumers access to limited information

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 Brand association

B Interactive promotion

C Product placement

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 Public relations

B Promotion

C Advertising

D Publicity

Question #28

A promotional campaign begins by:

A developing a unifying message.

B determining a promotional budget.

C identifying a target market.

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

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 hierarchical distribution.

D multilevel marketing.

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 Distributional strategy

B Supply chain management

C Multilevel marketing

D Distribution planning

Question #33

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

A FALSE

B TRUE

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 primary

B intensive

C exclusive

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 mode of distribution

D channel 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 generic

B look alike

C knockoff

D private

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 FALSE

B TRUE

Question #39

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

A brand awareness.

B brand intensity.

C brand loyalty.

D brand relations.

Question #40

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

A target marketing.

B Universal Product Codes.

C market segmentation.

D packaging.

Question #41

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

A total product offer.

B product matrix.

C product portfolio.

D product mix.

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 designing a product to meet the need based on research

C defining the question and determining the present situation

D planning for product modifications and test advertising

Question #44

Which of the following is part of the marketing process?

A determining an appropriate brand name for a new product

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

C contacting suppliers after a purchase to ensure producer satisfaction

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

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

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 keep the price of goods as low as possible.

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

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

D learn as much as possible about customers.

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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