MIE My Biz Lab

D

8 women, with children in the age range of 3 to 7 years, participated in a panel discussion conducted by the marketing departments of a resort. The facilitator asked the women what amenities they wanted in a resort and asked to discuss what facilities made a resort more convenient for people with young children. In this example, the resort used which method? A. survey B. neuromarketing study C. ethnographic research study D. focus group E. process data collection

E

A _____________ identifies both the current skill levels of the company's workforce as well as those the company needs in order to succeed A. replacement chart B. EPM C. employee turnover analysis D. 360-degree review E. skills inventory

C

A defined-contribution retirement plan in which employers often match the amount employees invest is known as A. stock options B. an employee assistance program (EAP) C. a 401(k) plan D. ESOP E. a cafeteria plan

D

A software development firm has recently hired a large number of software developers to work on several new projects. Colleen, the manager of the HR department wants to assess the effectiveness of the recruitment team. She used a combination of criteria (including the percentage of qualifications met and subjective assessments by managers) to measure how closely newly-hired employees met the company's needs. Colleen is most like using which of the following tools? A. employee satisfaction B. utilization percent C. outplacement D. quality of hire E. job enrichment

A

A software development firm tackles high health-care costs by encouraging employees to enroll in smoking-cessation classes, and teaches them relaxation techniques to help them deal with stress. The firm is most likely using which of the following cost-cutting tools? A. wellness programs B. health insurance buying groups C. 401(k) plan D. sliding-scale plans E. high-deductible insurance

C

All of the following statements describe what is involved in examining internal strengths and weaknesses for strategic marketing planning except which one? A. marketers use internal analysis to decide whether they should limit their business to opportunities based on the required strengths B. marketers use internal analysis to challenge themselves to reach higher goals C. marketers must analyze trends and conditions in the business environment when planning their marketing strategies D. successful marketers use SWOT analysis for identifying internal strengths and weaknesses E. successful marketers try to identify sources of competitive advantage and areas that need improvement

E

All of the statements define and describe marketing except... A. marketing is done by a wide variety of profit and non-profit organizations B. value, exchange of value, and lasting relationships are essential elements of marketing C. place marketing is a form of marketing D. marketing is the process by which companies create value for customers E. promoting environmental sustainability by businesses is an example of place marketing

E

Companies that manufacture or sell a variety of products to several target customer groups practice _______ marketing. A. individualized B. mass C. concentrated D. undifferentiated E. differentiated

A

Compensation other than wages, salaries, and incentive programs is known as _______ A. employee benefits B. commissions C. wages D. pay for performance E. salary

D

Creating new goods and services for a firm's current markets is called A. market development B. market penetration C.diversification D. product development E. pure play

A

Decision making by individuals is affected by all of the following influences except which one? A. a formal buying process B. culture C. situational factors D. self-image E. reference groups

B

KLM, a textile-manufacturing firm, has been supplying fabric to Clarence Furnitures for one year. KLM is delayed by two days in delivering a scheduled batch of fabric to Clarence Furnitures. The firm had met all its previous supply dates, and adhered to all the required quality standards. KLM follows a relationship marketing strategy. In keeping with this strategy, KLM is most likely to A. make structural changes to enable the firm to detect and prevent such delays B. give Clarence Furnitures a 20% discount on the material supplied C. send an email to Clarence Furnitures informing them about the delay D. ask Clarence Furnitures for an extension on future supplies as well E. take disciplinary actions against employees who were responsible for the delay

E

Linda is the recruitment manager for a brand management firm. The director of the firm recently quit, and Linda needs to find a replacement for the position. She conducts a job analysis to identify the nature and demands associated with the position of the director, as well as the skills required to fill the position. Based on this research, she creates a summary stating the tasks the director is responsible for, the working hours, and the working conditions. Linda posts this document in key job portals to inform potential applicants what to expect from the job. This document is an example of a _______ A. statement of purpose B. contract of employment C. code of ethics D. business proposal E. job description

E

Market penetration differs from diversification in that market penetration A. involves selling existing products to new markets B. involves a higher amount of risk C. involves selling new products in existing markets D. involves division of a diverse market into smaller, relatively homogenous groups E. involves selling more of the existing products in current target markets

B

Megan is an HR representative for an investment firm. Her firm needs to recruit new sales representatives. Megan is asked to review the job responsibilities of the current sales representatives and list the key tasks and responsibilities associated with the position. She is also asked to create an optimal employee profile to fill the sales representative position. The task assigned to Megan can be classified as which of the following processes? A. job enrichment B. job analysis C. job expansion D. onboarding E. forced ranking

B

Termination of employees for economic or business reasons is known as A. turnover B. layoffs C. worker buyouts D. wrongful discharge E. mandatory retirement

A

The Civil Rights Act of 1964 made it illegal for employers to A. practice sexism B. fund programs that provide income for qualified unemployed persons C. give individual employees the right to choose not to join a union D. hire illegal immigrants E. provide equal pay for comparable work

C

The marketing intermediaries are a network of the _________ element of the marketing mix A. promotion B. product C. distribution D. price E. service

E

The marketing method in which marketers invite potential or current customers to receive info in areas that genuinely interest them is known as A. relationship marketing B. marketing analytics C. stealth marketing D. social commerce E. permission-based marketing

A

The process of attracting appropriate applicants for an organization's jobs is known as A. recruiting B. positioning C. downsizing D. de-layering E. onboarding

false

True or false: Gain sharing ties rewards to an employee's knowledge and abilities rather than to his or her job per se

false

True or false: job description refers to a statement describing the kind of person who would be best for a given job

E

Which is true about the consumer decision process? A. behavioral economics suggests that consumer behavior follows a completely rational process B. companies, government agencies, and other organizations that buy goods and services are a part of the consumer market C. cognitive dissonance refers to the delivery of marketing messages to people who are not aware that they are being marketed to D. aspirational reference groups are those to which consumers actually belong, like families, friends, and clubs E. many consumers believe "you are what you buy" so they make or avoid choices that support their desired self-images

D

Which is true about the elements of marketing mix? A. retailers sell to other companies, and wholesalers sell to individual customers B. channel decisions are independent of everything else in the marketing mix C. a firm's marketing mix consists of the combination of print, broadcast, online, and other media to be used in the promotion campaign D. price elasticity is a measure of how sensitive customers are to changes in price E. customer communication consists of organized network firms and systems that move goods and services from the producer to the consumer

C

Which of the following is TRUE about administering employee compensation? A. fixed cash compensation for work, independent of the number of hours worked, is termed as wages B. compensation comprises of direct payments such as wages or salary, and excludes indirect payments through employee benefits C. compensation is dictated by prevailing conditions in the job market and the value each employee brings to the organization

A

With a _________, employers charge for health insurance based on salary, making insurance more affordable for lower-wage workers A. sliding-scale plan B. employee stock-ownership C. wellness plan D. 401(k) E. pension plan

C

_______ is a euphemism used to suggest that an organization is making changes in the workforce to match its business needs more precisely A. repositioning B. work sharing C. rightsizing D. restructuring E. nearshoring

D

_______ refers to distributions of financial incentives to employees who voluntarily depart; usually undertaken in order to reduce the payroll. A. affirmative action B. decentralization C. mandatory retirement D. worker buyout E. outplacement

D

________ refers to a state of physical and emotional exhaustion that can result from constant exposure to stress over a long period of time A. worker buyout B. ergonomic stress C. employee burnout D. work-life balance

B

________ refers to an incentive program that rewards employees for meeting specific, individual goals A. knowledge-based pay B. pay for performance C. competency-based pay D. salary E. commission

C

options for pursuing new market opportunities include all of the following except which one? A. market penetration B. market development C. market share D. product development E. diversification

C

some of the most important diversity issues today do NOT include ______ A. race and ethnicity B. gender C. skills D. religion E. age

A

the cafeteria plans do NOT include _______ A. compensation B. a 401(k) plan C. stock options D. employee stock-ownership plan E. a retirement plan

true

true or false: a central element in the marketing concept is involving the customer as a partner in a mutually beneficial relationship rather than treating the customer as a passive recipient of products and promotional messages

true

true or false: an employee who works from home and uses electronic communications to stay in touch with colleagues is said to be telecommuting

false (micro marketing or individualized marketing)

true or false: concentrated marketing is the narrowest strategy of all market-coverage strategies, in which firms target a single location or even a single customer

true

true or false: the purchasing behavior of organizations is easier to understand than the purchasing behavior of consumers because its more clearly driven by economics and influenced less by subconscious and emotional factors

false

true or false: the term outplacement services refers to external professionals who help an organization in terminating employees

true

true or false: work-life balance is the concept that employees need to juggle the competing demands of their professional and personal lives

true

true or false: workforce analytics are a computer-based statistical approach to analyzing and planning for workforce needs

C

when a manufacturer combines fabric, buttons, and zippers to create clothing, it creates A. place utility B. possession utility C. form utility D. value utility E. time utility

C

An incentive program tied to an employee's knowledge and abilities rather than to their job per se is ___________ A. pay for performance B. profit sharing C. competency-based pay D. gain sharing E. a bonus

B

Anna is a pharmaceutical sales representative and her compensation includes a percentage of her sales each quarter. This type of pay is called __________ A. sliding-scale plan B. commission C. knowledge-based pay D. salary E. cafeteria plan

A

James is the team-leader of a team of consultants at a firm. James' performance appraisal requires a web-based feedback form to be filled by his manager, the members of his team, and several other team-leaders he has worked with. The HR department consolidates data obtained from these forms and provides James with feedback regarding his performance during the past year. In this example, which of the following performance appraisal methods is used? A. 360-degree review B. skills inventory C. behaviorally anchored rating scale D. benchmarking E. coaching

A

Janat teaches first grade at a school Monday, Wednesday, Friday. Jeff teaches the class Tuesday, Thursday. They split that salary and benefits of the job on a pro-rata basis. In this example, the HR team at this school uses which of the following alternative work arrangements? A. job sharing B. succession planning C. cross-training D. flextime E. performance monitoring

C

Organizational purchasing differs from consumer purchasing in that organizational purchasing in that organizational purchasing A. lacks a formal buying process B. is influenced more by subconscious and emotional factors C. usually involves closer relationships between buyers and sellers D. is less clearly driven by economics E. has lower complexity in product usage

D

Quality of hire measures _______ A. the amount of money spent in hiring and training new employees B. the level of productivity of employees in the probationary period C. the percentage of minority groups in a firm's workforce D. how closely incoming employees meet the company's needs E. the percentage of the workforce that leaves each year