Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
95 Cards in this Set
- Front
- Back
____ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing, market segmentation, consumer behavior, or marketing research
|
marketing
|
|
Place utility is created _______.
|
by having the good or service available at a convenient location when the consumer wants to buy it.
|
|
The current marketing period is referred to as the _____era.
|
relationship
|
|
the marketing of a social concern or issue is known as _____ marketing
|
cause
|
|
An organization's _______ is the group of potential customers toward whom it directs its marketing efforts.
|
target market
|
|
______ strategy focuses on personal selling, advertising, sales promotion tools, and public relations to produce effective communication between the firm and the marketplace.
|
promotional
|
|
census data are _____ and _____ data for marketing researchers
|
external and secondary
|
|
Which of the following is a drawback to using Census and other government data sources? Accessing govt. data is expensive, government data can become obsolete quickly, accessing government data is difficult, or government data sources are unreliable
|
government data can become obsolete quickly
|
|
the most common form of consumer market segmentation is based on _______.
|
demographics
|
|
Interpersonal determinants of consumer behavior include all of the following EXCEPT ______. motivational, cultural, social, or family?
|
motivational
|
|
developing and maintaining long-term, cost effective exchange relationships with individual customers, suppliers, and other partners for mutual benefit characterizes _______. relationship management, customer satisfaction, relationship marketing, or interpersonal consumer relationships?
|
relationship marketing
|
|
approximately how much more does it cost to attract one new customer than to keep an existing one?
|
five times as much
|
|
The function of attracting, developing, and retaining enough qualified employees to perform the activities necessary to accomplish organizational objectives is part of ______.
|
human resource management
|
|
Which of the following is a primary reason for the reduction in highly skilled employees? firms cannot afford to pay competitive salaries, employees with lack of specialized skills, baby boomers retiring and not enough gen. X workers taking their place, or more people becoming entrepreneurs
|
more baby boomers retiring and not enough Gen. X workers to take their place
|
|
some companies are replacing classroom training with computer based and online training programs because these programs offer all of the following except_______. reduced travel costs, online training programs are less difficult, online training offers consistent presentations, or employees can learn at their own pace?
|
less difficult
|
|
Learning the best practices of the top companies is an approach referred to as_____.
|
benchmarking
|
|
All of the following employee benefits are required by law with the exception of ____. medicare, unemployment insurance, social security, or health insurance
|
health insurance
|
|
Which of the following is NOT a reason for outsourcing? avoiding long-term resource costs, enabling a firm to focus on functions it does best, improving internal management controls, or gaining flexibility to change vendors at the end of contract periods?
|
Improving internal management controls
|
|
A need produces______. which leads to __________.
|
motivation ; goal directed behavior
|
|
according to Maslow, an individual's first priority is given to which level of need?
|
physiological
|
|
the basic components of the goal setting theory include all of the following EXCEPT _______. goal difficulty, performance feedback, goal acceptance, time management?
|
time management
|
|
Local unions are typically organized by__________? geographic area, occupation, affiliation with the national unoion, affiliation with the international union?
|
geographic area
|
|
collective bargaining encompasses all of the following issues EXCEPT________? Employee wages, investor relations, employee seniority, arbitration?
|
INvestor relations
|
|
For US unions, their biggest disappointment has been the inability to organize workers where?
|
Wal-mart
|
|
The want satisfying power of a good or service is called?
|
utility
|
|
which of the following are combined to result in mass production?
|
mechanization, specialized labor, and standardization
|
|
which production system combines a number of raw materials or parts intoa finished product, or changes raw materials into completely different finished products? extractive, intermittent, unified, or synthetic?
|
synthetic
|
|
The process that enables manufacturers to use computers to analyze the steps a machine must take to produce a product or part is _______. computer-aided manufacturing, program evaluation and review technique, computer aided design, computer integrated manufacturing?
|
computer aided manufacturing
|
|
Tamara is the owner of a bakery with all perishable products. What will be her primary consideration in regard to location?
|
proximity to her market
|
|
what is the first step to planning a production process?
|
choosing what goods and services to offer a customer.
|
|
Implementing a production plan involves all of the following steps EXCEPT______. creating a feasible budget, controlling inventory, selecting the best suppliers, or decinding whether to make, buy, or lease components.
|
creating a feasible budget
|
|
All of the following are expenses involved in storing inventory EXCEPT_______. maintenance, acquisition, insurance, or warehouse rent?
|
acquisition
|
|
A Gantt chart is associated with which step in production control? Routing, scheduling, dispatching, or follow up?
|
scheduling
|
|
A firm can moniter quality level output in all of the following ways EXCEPT___________. customer surveys, electonic sensors, visual inspections, or share of marketplace?
|
share of marketplace
|
|
Whena company looks to an established, superlative product as a guide for their nwe product, they are__________.
|
benchmarking
|
|
1. When the average person defines a product, he or she usually considers only the product’s __.
a. Physical characteristics b. Service attributes c. Symbolic attributes d. Benefits |
Physical characteristics
|
|
2. A bundle of physical, service, and symbolic attributes designed to satisfy customer wants is called __________.
a. The marketing mix b. Packaging c. A product d. A brand name |
a product
|
|
marketer focuses on a product’s __________.
a. Physical characteristics b. Service attributes c. Symbolic attributes d. benefits |
d. benefits
|
|
4. A combination of product lines represents a company’s __________.
a. Product mix b. Product cluster c. Product lifecycle d. Distribution strategy |
product mix
|
|
5. In a process called __________, products pass through a series of stages from their initial appearance to their decline.
a. Wheel of retailing b. promotional cycle c. pricing cycle d. product life cycle |
product life cycle
|
|
6. Since potential customers are unaware of a product during its introductory stage, initial promotion concentrates on __________.
a. Informing the market about the item and explaining its features, uses, and benefits b. Reducing the size of an available market through selective advertising c. Word-of-mouth referrals d. Communicating new uses for the product |
a. Informing the market about the item and explaining its features, uses, and benefits
|
|
7. In which stage of the product life cycle do profits generally first appear?
a. Decline stage b. Introductory stage c. Growth stage d. Maturity stage |
growth stage
|
|
8. Firms give all of the following reasoning for skipping test marketing EXCEPT:
a. Test marketing is expensive b. Test marketing can alert competitors to a company’s plans. c. Competitors can skew results by lowering prices or running special promotions. d. Most test marketing campaigns fail. |
most test marketing campaigns fail
|
|
9. A brand that has been given legal protection is known as a __________.
a. Patent b. Copyright c. Trademark d. Royalty |
Trademark
|
|
10. the use of direct distribution channels is most common in the __________ market.
a. Business-to-consumer (B2C) b. Professional services c. Business-to-business (B2B) d. Automobile |
B2B
|
|
11. A firm’s most important consideration in choosing a distribution channel is the __________.
a. Market segment it will serve b. Characteristics of the product c. Firm’s management, financial, and marketing resources d. Competitive pressures |
Market segment it will serve
|
|
12. The complete sequence of suppliers that contribute to creating and delivering a good or service is called the __________.
a. Production cycle b. Chain of command c. Supply chain d. Physical distribution process |
supply chain
|
|
13. Although promotion may have multiple goals, the most common goal for most firms is _______.
a. Providing information b. Building goodwill c. Differentiating the product d. Increasing primary demand |
increasing primary demand
|
|
14. Integrated marketing communications would include all of the following EXCEPT __________.
a. Direct mail b. Sales promotions c. Public relations d. Distribution |
distribution
|
|
1. The most basic form of promotion is __________.
a. Order processing and advertising b. Personal selling c. Creative selling and sales promotion d. Advertising and creative selling |
personal selling
|
|
16. A paid, non-personal sales communication usually directed at a large number of potential buyers is __________.
a. The media mix b. Sales promotion c. Advertising d. Publicity |
advertising
|
|
17. Samples are particularly useful in promoting __________.
a. Concepts b. Services c. New products d. Expensive products |
new products
|
|
18. The salesperson’s task of identifying potential customers is known as __________.
a. Follow-up b. Approach c. Demonstration d. Prospecting |
prospecting
|
|
19. Salespeople determine if prospects have the financial ability and authority to buy through _______.
a. Approach b. Follow-up c. handling objections d. Qualifying |
qualifying
|
|
20. Dealing with news editors, writers, and media representatives is the role of __________.
a. Point-of-purchase advertising b. Public relations c. Specialty advertising d. Cause advertising |
public relations
|
|
20. Dealing with news editors, writers, and media representatives is the role of __________.
a. Point-of-purchase advertising b. Public relations c. Specialty advertising d. Cause advertising |
public relations
|
|
22. Promotion that is aimed at the ultimate consumer with the goal of generating demand for the good or service is based on a(n) __________.
a. Cooperative strategy b. Pulling strategy c. Pushing strategy d. Emphasis on personal selling |
Pulling strategy
|
|
23. The exaggerated claims of a product’s superiority is :
a. Puffery b. Both unethical and illegal c. Likely to create an express warranty d. Designed to trick consumers |
puffery
|
|
24. Setting a price relatively high compared to similar goods and then gradually lowering it is a pricing strategy called __________ pricing.
a. Psychological b. Cost-based c. Skimming d. Penetration |
skimming
|
|
25. Competitive pricing focuses on __________.
a. Variable pricing b. Penetration pricing c. The marketing mix d. Skimming pricing |
the marketing mix
|
|
______ can be used to post shared answers to common questions without having to respond to individual inquiries.
|
Electronic bulletin boards
|
|
What is the leading source of online fraud?
|
Online auctions
|
|
aLL OF THE FOLLOWING ARE FACING E-COMMERCE EXCEPT: PRIVACY CONCERNS, PROTECTION OF INTELLECTUAL PROPERTY, GETTING PEOPLE TO GO ONLINE, OR MEASURING THE EFFECTIVENESS OF INTERNET PROMOTIONS
|
GETTING PEOPLE TO GO ONLINE
|
|
______ are search programs that check hundreds of sites, gather info, and bring it back to the sender
|
Bots
|
|
What is the fastest growing online retail category?
|
cosmetics and fragrances
|
|
When a company wants to share E-business data with its suppliers, they often establish _____, which relays info on everything from product design through order delivery.
|
private exchanges
|
|
companies utilize all of the following business tools EXCEPT_____. Electronic data interchange, extranets, e-procurement, electronic bulletin boards
|
electronic bulletin boards
|
|
The business to business exchange of data using compatible software is called
|
electronic data interchange
|
|
The word e-tailing is another word for?
|
virtual storefronts
|
|
Which of the following companies has the longest and best known record of encouraging entrepreneurship? IBM, 3M, General Motors Co., or Microsoft
|
3M
|
|
A ________ program is initiated by an employee who conceives of an idea. skunkworks, pacing, wealth creation, entrepreneurship
|
skunkworks
|
|
_____ ARE BUSINESS ORGANIZATIONS OR GROUPS OF PRIVATE INDIVIDUALS WHO INVEST IN NEW OR GROWING FIRMS.
|
VENTURE CAPITALISTS
|
|
Which of the following persons is LEAST likely to become an entrepreneur? An inquisitive person, an intelligent person, a calm, low energy person, or a flexible person
|
a calm, low-energy person
|
|
In what ways can the internet be a challenge for entrepreneurs?
|
Customers can check prices from large or small companies around the world
|
|
The primary reasons people become entrepreneurs include all EXCEPT which one of the following reasons? to be one's own boss, to become a financial success, to create employment opportunities for other people, or to create one's own job security.
|
to create employment opportunities for other people
|
|
studies indicate that approx ______ percent of Americans run their own businesses.
|
10 percent
|
|
_______ are people who seek to develop new products, ideas, or ventures within larger organizations.
|
intrapreneurs
|
|
An entrepreneurially oriented person who develops innovations within the context of a large organization is an _______.
|
Intrapreneur
|
|
Which of the following starts his or her own company? Classic entrepreneur, change agent, intrepreneur, manager, or all three start their own companies
|
Classic entrepreneur
|
|
Entrepreneurs are similar to small-business owners in all of the following ways EXCEPT: Entrepreneurs possess more drive, entrepreneurs eventually want to become big business owners, entrepreneurs have more creative energy, or enrepreneurs focus on the growth of their company.
|
Entrepreneurs focus on the growth of their company
|
|
Ian wonders what type or organizational structure is best suited for his manufacturing firm. In addition to its normal product lines, the company occasionally produces special products that require the cooperation of a variety of personnel from many departments. What form of organizational structure is best suited for this operation.
|
Matrix organization
|
|
the set of relationships that indicates who gives directions to whom and who reports to whom is known as the _______.
|
organization chart
|
|
Organization charts are the visual indication of a firm's
|
job positions and functions.
|
|
Which of the following groups is typically most responsible for shaping a corporate culture?
|
The Company's Founders
|
|
Which leadership style would allow sales personnel to participate in setting sales quotas?
|
Democratic
|
|
The first step in the decision making process is to ______.
|
identify the problem
|
|
decisions involving simple, common, frequently occurring problems for which solutions have already been determined are ______ decisions.
|
programmed
|
|
A written explanation of an organizations business interactions and aims is called an? SWOT analysis, strategy for competitive differentiation, objective, mission statement
|
Mission statement.
|
|
tactical planning is primarily the responsibility of _______.
|
middle managers
|
|
______ planning is the most general and far-reaching type of planning
|
Strategic
|
|
Generally speaking, which type of manager needs vision the most?
|
members of top management.
|
|
As someone moves up the management hierarchy, which skills become relatively less important?
|
Technical skills
|
|
All of the following are measures of Web site effectiveness except? The cost of developing and maintaining the site, web site traffic counts, conversion rates, or revenue and profitability
|
the cost of developing and maintaining the site.
|
|
When it comes to the contents of a web site, which of the following is LEAST important? Utilizing the latest advance graphics software, relevance to viewers, conversion rates, or revenue and profitability.
|
Utilizing the latest advanced graphics software
|
|
What is the first question to consider when developing a Web site?
|
What is the purpose of the Web site
|