1) A ________ is a set of procedures and sources managers…
1) A ________ is a...
1) A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.Submitted: 7 years ago.Category: Multiple Problems
A. vertical system
B. marketing intelligence system
C. marketing research system
D. product management system
E. marketing information system
2) A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors’ published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.
A. customer feedback systems
B. advisory panels
C. sales force surrogates
D. external networks
3) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
A. A marketing database
B. A promotional campaign
C. A marketing information system
D. A marketing intelligence system
E. A marketing research system
4) ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
A. Competitors market share rate
B. Customer perceived value
C. Perceived usefulness
D. Report rating
E. Failure avoidance rate
5) The value proposition consists of a cluster of benefits the company promises to deliver; it is
A. business processes
B. customer expectations
C. Customer loyalty to the company
D. total customer satisfaction
E. customer experience with the company
6) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the innovation process.
A. skunk works
B. venture team
C. stage-gate system
D. new product “team”
E. joint- venture system
7) Total customer satisfaction is the general feeling of pleasure or disappointment that results from comparing perceived performance to expectations. To achieve total customer satisfaction, organizations need to_____________.
A. Lower prices
B. Lower expectations
C. Develop marketing campaigns
D. Manage customer experiences
E. Spend more money
8) Marketers usually identify niches by ________.
A. producing products that can be used in a variety of ways
B. examining the demographics section of The Handbook of Marketing
C. dividing a segment into subsegments
D. allowing consumers to gravitate toward product brands
E. conducting VALS tests
9) In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers.
10) Purchase decisions are based on how consumers perceive prices and what they consider tobe the ________ price—not the marketer’s stated price.
A. referent price
B. current sale price
C. current actual
D. last purchased price
11) With respect to the sampling plan, three decisions must be made. The decisions are: the sampling unit—who is to be surveyed? Sample size—how many people should be surveyed? And ________.
A. sample supervisor—who will lead the sampling effort?
B. sampling procedure—how should the respondents be chosen?
C. sample cost—how much does sampling cost?
D. sample security—how to protect the sample data?
E. surveyor skill—who will do the surveying?
12) The following are considered to be advantages of online research EXCEPT ________.
A. people tend to be more honest online than in other interviewing methods
B. online research is more versatile
C. online research is inexpensive
D. online research is relatively free of technological problems and inconsistencies
E. online research is faster
13) The first step in the marketing research process is to ________.
A. contact a professional consultant
B. read marketing research journals
C. develop a research plan
D. analyze the internal environment
E. define the problem and research objectives
14) The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is ________.
A. e-commerce becomes difficult for the company
B. competitors can easily copy any new product introductions
C. no synergy exists
D. the product may be supplanted by an entirely new technology
E. logistics can become a nightmare
15) To reach Generation Y, rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who “get the latest news, exclusive audio/video sneak previews, tons of chances to win great Foo Fighters prizes, and become part of the Foo Fighters Family.” Which of the following techniques for reaching Generation Y are the Foo Fighters using?
A. Online buzz
B. Computer games
C. Student ambassadors
D. Cool events
E. Unconventional sports
16) Major retailer types include the following EXCEPT ________.
B. catalog showroom
C. the Internet
D. specialty store
E. discount store
17) ________ communicates a company’s intended value positioning of its product or brand to the market.
A. Physical evidence
18) Price has operated as the major determinant of buyer choice among poorer nations, among poorer groups, and with ________ products.
B. over the Internet
19) Marketing communications can contribute to brand equity by establishing the brand in memory and to________ (in)a brand image.
C. create demand
D. create interest
20) Some intermediaries use the following: strategic planning, advanced information systems, sophisticated marketing tools, measure performance on a return-on-investment basis, segment their markets, improve their target marketing and positioning, and ________.
A. aggressively pursue market expansion and diversification strategies
B. aggressively pursue take over strategies
C. dominant the manufacturers they do business with
D. contend with dwindling customer bases
E. aggressively “squeeze” manufacturer margins
21) “Power prices” use price as a key strategic tool. These “power prices” have discovered the highly ________ effect of price on the bot***** *****ne.
22) The marketing communications mix consists of six major modes of communications. Which of the following is NOT one of these modes?
B. Sales promotions
D. Personal selling
E. Direct marketing
23) New-to-the- world products are ________.
A. existing products that are targeted to new markets or market segments
B. new products that supplement established product lines (package sizes, flavors, and so on)
C. new products that provide improved performance or greater perceived value and replace existing products
D. new products that create an entirely new market
E. new products that allow a company to enter an established market for the first time
24) Which of the following statements best defines a work group?
A. A work group is a group comprised of 10 or more people
B. A work group consists of 3 or more people who take on self-supervising responsibilities.
C. A work group consists of 3 or more people from across departmental or functional lines.
D. The performance of a work group is generally greater than the sum of its inputs from individual members.
E. A work group interacts primarily to share information, rather than to engage in work that requires joint effort.
25) If no one is aware of conflict, it is generally agreed that _____.
A. conflict is psychologically driven as opposed to physically manifest
B. no conflict exists
C. conflict is inevitable
D. employee-employer relations will be good
E. conflict is subversive
26) Which level of Maslow’s hierarchy of needs deals with satisfying one’s hunger, thirst, and need for sex?
27) Negotiation can be defined as a process in which two or more parties exchange goods or services and attempt to agree upon _____.
A. the monetary value of the exchanged items
B. a model of the negotiation process for resolving differences
C. effective arbitrators for disputes
D. the exchange rate for those goods and services
E. acceptable bargaining strategies for obtaining the goods and services
28) John Kotter’s view argues that management focuses on coping with complexity, whereas leadership focuses on coping with _____.
29) The traditional view of conflict is the belief that conflict is _____.
30) Which of the following statements about leadership is true?
A. Nonsanctioned leadership is as important as or more important than formal influence.
B. leaders are managers.
C. leaders are hierarchically superior to followers.
D. managers are leaders.
E. Formal rights enable managers to lead effectively
31) According to a recent survey, about ___ percent of employees working in the 1,000 largest U.S. corporations receive ethics training.
32) Training employees how to be better listeners falls under which of the following training categories?
A. cultural skills
B. ethical skills
C. interpersonal skills
D. problem-solving skills
E. technical skills
33) Which of the following has proven to be a particularly good predictor for jobs that require cognitive complexity?
A. behavioral assessment
B. intelligence tests
C. aptitude tests
D. work sampling
E. integrity evaluations
34) Which type of skill training has become increasingly important in organizations?
D. problem solving
35) _____ can be used to increase the perception that employees are treated fairly.
A. Focusing on subjective evaluations
B. Selective evaluation
C. Documenting with a journal
D. Multiple raters
E. Due process
36) Each of the six personality types developed in Holland’s personality-job fit theory has a ________.
A. supplemental skill set
B. supplemental personality style
C. supplemental occupational environment
D. congruent occupational environment
E. congruent personality style
37) The “realistic” personality from Holland’s typology of personality and congruent occupations would be well suited for which of the following jobs?
38) Which of the following is not a primary force for change in organizations?
A. the nature of the workforce
C. social trends
D. decreasing skill sets
E. economic shocks
39) Whenever Jane is successful she takes full credit for what has happened, but whenever she is unsuccessful she attributes her failure to bad luck or blames one of her fellow employees. She is guilty of _____.
A. self-serving bias
B. fundamental attribution error
D. the halo effect
E. attribution bias
40) Phrases such as “more cultural diversity,” “many new entrants with inadequate skills,” and “increase in aging workers” are all examples of what force for change?
C. social trends
D. nature of the work force
E. world politics
41) Which of the following according to Goldratt is not a component of production cycle time?
A. maintenance time
B. setup time
C. queue time
D. wait time
E. process time
42) If the system contains a bottleneck, the _______ is the best place for control. If there is no bottleneck, the __________ is the best place for control.
A. none of these answers
B. capacity-constrained resource, bottleneck
C. bottleneck, capacity constrained resource
D. capacity-constrained resource, drum
43) Which of the following product promotional activities would probably help make the supply chain more efficient?
A. A 2 for 1 price promotion
B. Special packaging for a specific event that occurs one time each year
C. An "everyday" low price strategy where prices are not dependent on quantity delivered with a specific order
D. Price promotions that expire on a specific date
44) The previous forecast of 65 turned out to be four units less than the actual demand. The next forecast is 66. What would be the value of alpha if the simple exponential smoothing forecast method is being used?
45) The last stage in the operations consulting process is:
A. assembling learning from the stage
B. assuring client satisfaction
C. implementing changes
D. presenting final report
46) Which of the following statements is true?
A. The Principle of Capital Market Efficiency says to consider the possible ways to minimize the value lost to capital market imperfections, such as asymmetric taxes, asymmetric information, and transaction costs.
B. The Behavioral Principle suggests to look for opportunities to create value by issuing securities that are in short supply, perhaps resulting from changes in tax law.
C. The Signaling Principle says to consider any possible change in capital structure carefully, because financing transactions and capital structure changes convey information to outsiders and can be misunderstood.
D. all of these
47) Under capital rationing, given the choice among several equally attractive investments, the best tool to use is the __________.
A. Net Present Value method
B. Profitability Index method
C. Payback method
D. Internal Rate of Return method
48) Due to asymmetric information, the market fears that a firm issuing securities will do so when the stock is _________.
A. being sold by insiders
B. caught up in a bear market
49) An investor's risky portfolio is made up of individual stocks. Which of the following statements about this portfolio is true?
A. Each stock in the portfolio will have a beta greater than one.
B. An investor cannot change the risk of this portfolio by her choice about personal leverage (lending or borrowing).
C. Selling any stock in this portfolio will lower the beta of the portfolio.
D. Each stock in the portfolio has its own beta.
50) __________ says to look for opportunities to invest in positive-NPV projects in foreign markets or to develop derivatives or design arrangements that enable firms to cope better with the risks they face in their foreign operations.
A. The Principle of Valuable Ideas
B. The Principle of Capital Market Efficiency
C. The Principle of Diversification
D. The Principle of Risk-Return Trade-off
51) __________ says to seek out investments that offer the greatest expected risk-adjusted real return.
A. The Principle of Valuable Ideas
B. The Principle of Self-Interested Behavior
C. The Signaling Principle
D. The Principle of Incremental Benefits
52) A checking account is __________.
A. a place to “collect” money between inflows and outflows
B. an account that acts like a reservoir
C. useful because you can add money in any amount
D. all of these
53) An all-equity-financed firm would __________.
A. pay corporate income taxes if its taxable income is positive
B. not pay corporate income taxes because it would have no interest expense.
C. pay corporate income taxes because it would have interest expense.
D. not pay any income taxes because interest would exactly offset its taxable income.
54) Which of the following statements is true?
A. The Principle of Incremental Benefits says to consider the possible ways to minimize the value lost to capital market imperfections, such as asymmetric taxes, asymmetric information, and transaction costs.
B. The Principle of Valuable Ideas suggests to look for opportunities to create value by issuing securities that are in short supply, perhaps resulting from changes in tax law.
C. The Time Value of Money Principle advises to include any time-value-of-money tax benefits from capital structure choices.
D. all of these
55) “Hard” capital rationing refers to the rationing __________.
A. always imposed by debt holders
B. always imposed by competitors
C. imposed internally by the shareholders
D. imposed by external factors
56) The financing decision best addresses which of the following questions?
A. Should we give employees stock options?
B. Should we increase our inventory?
C. Should we issue common stock or convertible debt?
D. Should we buy this piece of land?
57) The investment decision best addresses which of the following questions?
A. Should we increase our advertising budget?
B. Should we borrow in a foreign currency?
C. Should debt be short-term?
D. Should we buy new equipment?
58) Which of these investments would you expect to have the highest rate of return for the next 20 years?
A. anybody’s guess
B. intermediate-term U.S. government bonds
C. long-term corporate bonds
D. U.S. Treasury bills
59) The managerial decision best addresses which of the following questions?
A. How fast should we grow?
B. What size of firm do we want?
C. How should we compensate our managers?
D. all of these
60) __________ says to recognize the value of options contained in derivatives.
A. The Principle of Comparative Advantage
B. The Options Principle
C. The Capital Market Efficiency Principle
D. The Principle of Valuable Ideas
61) A key variable covered in our text for the Black-Scholes OPM is __________.
C. transaction costs.
D. the riskless APR with continuous compounding
62) You work for ABC, Inc. in the finance department. You own shares in ABC, Inc. that are selling at $20 per share on the NYSE. You just found out they will have a new stock offering. You just found out they will publicly announce a new stock offering. The costs from the offering will be 10% of the new offering. The new offering will increase the number of outstanding share by 30%. There are currently 20,000,000 shares of ABC outstanding. Once the announcement is made public, what might be the expected impact from transaction (or issuance) costs on each share you own?
A. You will lose 2% of the value of the shares you own.
B. There will be no costs because there is no information asymmetry present.
C. There will be no costs because markets are perfect when it comes to new stock offerings.
D. You will lose 3% of the value of the share you own.
63) Which (if any) statement is false?
A. The Principle of Self-Interested Behavior suggests that self-interested capital market transactions force market prices toward being fair prices.
B. The Principle of Two-Sided Transactions states that intense capital market competition to get and use information to take advantage of arbitrage opportunities eliminates such opportunities.
C. The Principle of Signaling states that information in the transactions of others can be valuable, such as providing an accurate measure of current market value, or information about expected future value.
D. none of these answers are correct.
64) You do a study and find out that, on average, stock prices for firms decrease 3% for every 5% decrease in inside ownership. You are watching the nightly business report and find out that Magic Tape’s stock has announced that insiders have sold 10% of their holdings. You are concerned because you own 1,000 shares of Magic Tape and it had closed the day before unchanged at $30 per share. If markets are at least semi-strong form efficient, what would you expect?
A. You would lose $1,800.
B. You would lose $4,000.
C. You would expect Magic Tape to close at $28 the day of the announcement.
D. You would lose $2.00 per share
65) A transfer price exists when two segments of the same organization sell _____.
A. a product in a foreign country
B. a service to each other
C. a product to the same customer
D. the same service to competitors
66) Incremental analysis would not be appropriate for
A. elimination of an unprofitable segment.
B. an allocation of limited resource decision.
C. a make or buy decision.
D. Analysis of manufacturing variances
67) Which decision will involve no incremental revenues?
A. Accept a special order
B. Drop a product line
C. Make or buy decision
D. Additional processing decision
68) Transfer prices are _____.
A. costs of the segment producing the product or service
B. revenues of the segment acquiring the product or service
C. revenues of the segment producing the product or service
D. none of these answers is correct
69) Which one of the following characteristics would likely be associated with a just-in-time inventory method?
A. Minimal finished goods inventory on hand.
B. A backlog of inventory orders not yet shipped.
C. Ending inventory of work in process that would allow several production runs.
D. An understanding with customers that they may come to the showroom and select from inventory on hand.
70) A _____ gives the expected sales under a given set of conditions.
A. budget forecast
B. sales budget
C. sales prediction
D. sales forecast
71) Which of the following does not appear as a separate section on the cash budget?
A. Capital expenditures
B. Cash disbursements
C. Cash receipts
72) The financing section of a cash budget is needed if there is a cash deficiency or if the ending cash balance is less than:
A. the amount needed to avoid a service charge at the bank.
B. management's minimum required balance.
C. the prior years.
D. the industry average.
73) Efficiency is indicated by _____.
A. flexible-budget variances
B. static-budget variances
C. sales-activity variances
D. all of these answers are correct
74) A company has total fixed costs of $120,000 and a contribution margin ratio of 20%. The total sales necessary to break even are
75) A variable cost is a cost that
A. varies in total in proportion to changes in the level of activity.
B. varies per unit at every level of activity.
C. occurs at various times during the year.
D. may or may not be incurred, depending on management's discretion.
76) How much sales are required to earn a target net income of $128,000 if total fixed costs are $160,000 and the contribution margin ratio is 40%?
77) At the break-even point of 2,500 units, variable costs are $55,000, and fixed costs are $32,000. How much is the selling price per unit?
78) An absorption-costing income statement separates cost into the major categories of_____.
A. inventoriable and noninventoriable
B. manufacturing and nonmanufacturing
C. product and period
D. all of these answers are correct
79) Absorption costing assigns _____ to the product.
A. variable manufacturing costs
B. all variable costs
C. variable and fixed manufacturing costs
D. all fixed and variable costs
80) Identify which statement about "currently attainable standards" is NOT true.
A. They represent projections of what will probably be attained.
B. They allow for normal spoilage and nonproductive time.
C. Because they allow for waste, they usually result in favorable variances.
D. Employees usually view these goals as reasonable.
81) A process cost accounting system is most appropriate when
A. similar products are mass-produced.
B. a variety of different products are produced, each one requiring different types of materials, labor, and overhead.
C. the focus of attention is on a particular job or order.
D. individual products are custom made to the specification of customers
82) _____ are profitability ratios.
A. Earnings per share and dividend yield
B. Gross profit rate and return on sales
C. Dividend payout and rate of return in invested capital
D. Price earnings and current ratio
83) A local retail shop has been operating as a sole proprietorship. The business is growing and now the owner wants to incorporate. Which of the following is not a reason for this owner to incorporate?
A. the prestige of operating as a corporation
B. ability to raise capital for expansion
C. desire to limit the owner’s personal liability
D. the ease in transferring shares of the corporation’s stock
84) The _____ is not one of the three major financial statements.
B. statement of cash flows
C. income statement
D. statement of equity position
85) Which of the following statements is incorrect with respect to creditors and equity investors?
A. Creditors are concerned with assessing the long term solvency of a company.
B. Both creditors and equity investors are concerned about security prices.
C. Creditors are concerned with assessing the short term liquidity of a company.
D. Equity investors are concerned about dividend payments.
86) The centerpiece of most diversity programs is _____.
A. human resource personnel
B. top management commitment
D. employee commitment
E. employee satisfaction
87) Although the U.S. has had a longstanding agreement with ___________, after the passage of NAFTA, _________ became the United States' second largest trading partner.
A. Canada, Venezuela
B. Canada, Mexico
C. Mexico, Canada
D. Mexico, Venezuela
E. Great Britain, Paraguay
88) Diversity training programs are generally intended to provide a vehicle for _____.
A. balancing work/life conflicts
B. increasing awareness and examining stereotypes
C. eliminating group learning
D. focusing on individual differences
E. socializing otherwise unmanageable employees
89) One study found that manufacturing labor costs about ___ an hour in China, compared to ____ dollars in the United States.
A. $2; about 25
B. Less than $1; about 15
C. Less than $1; about 25
D. About $2; about 15
E. Less than $1; about 40
90) Which country does the text describe as becoming the largest producer and consumer of many of the world's goods?
91) Which of the following statements is generally NOT true about state intermediate appellate courts?
A. The appellate court allows the parties to make oral arguments outlining their position.
B. The appellate court allows the parties to introduce new evidence so long as it was not previously introduced at the original trial.
C. The appellate court reviews the record of the trial court.
D. The appellate court usually allows the parties to file briefs outlining support for their positions.
92) Which of the following is correct about litigating commercial disputes?
A. Businesses generally dislike the concept of specialized trail courts for commercial disputes because the large numbers of consumers who sue businesses in these courts have led the judges to become generally biased against business.
B. In all states, commercial disputes must be heard in a limited-jurisdiction court.
C. Nearly all states have specialized trial courts that hear commercial disputes.
D. A few states have established specialized trial courts for commercial disputes.
E. Commercial disputes, because of their specialized nature, are first heard at the appellate court level.
93) When an economist says that the demand for a product has increased, this means that:
A. consumers respond to a lower price by buying more.
B. the demand curve becomes steeper.
C. quantity demanded is greater at each possible price.
D. firms make less of the product available for sale.
94) When movie ticket prices increase, families tend to spend less time watching movies and more time at home watching videos instead. This best reflects:
A. the rationing function of markets.
B. the substitution effect.
C. diminishing marginal utility.
D. the income effect.
95) The force behind globalization in _____ was the amount of muscle, horsepower, wind power, or steam power that a country could deploy.
A. Globalization 3.0
B. None of these
C. Globalization 1.0
D. Globalization 2.0
96) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information technologies.
B. business environment
97) Which of the following is NOT a function of functional area information systems?
A. provides data from business events to the corporate database
B. provides analysis capabilities to middle level managers and staff
C. provides information to managers in the functional areas
D. provides information mainly in the form of reports
E. supports the managerial tasks of planning, organizing, and controlling operations
98) Which source of evidence to support experimental results is most threatened by the use of a field experiment?
A. Use of a control group
B. Manipulation of the IV
C. Agreement between the IV and DV
D. Control of contamination from extraneous variables
E. Time order of the occurrence of the variables
99) ________ is a qualitative research approach for getting inside a consumer’s mind and finding out what they are thinking or feeling (e.g., a consumer says that the John Deere brand makes them think of a rugged Midwestern male who is hard-working and trustworthy).
C. Word association
D. Brand personification
E. A projective technique
100) The quartile deviation is:
A. In squared units of the original data.
B. Appropriate only for symmetric distributions.
C. The square root of the variance.
D. Based on the middle 50 percent of the observations.