BUS 100 CHAPTER 13, 11, 12, 14, 15, 16 PRE LECTURE QUIZZES
The fixed cost of Brendon Willows, a baseball bat manufacturing company, is $500,000 per year. The cost of wood and labor to manufacture one bat is $5. If the customers pay $25 to buy one bat, how many bats does Brendon Willows need to sell to breakeven?
25,000
In the context of retail stores, which of the following statements is true of a convenience store?
It sells a small range of everyday and impulse products at easy-to-access locations with long hours and quick checkout.
Nancy got funding from angel investors to start a salon. She is new to the industry and is unsure of the human resource (HR) planning that is required to hire the required staff members. In the context of HR planning, which of the following should Nancy do first?
Job analysis
_____ is the examination of specific tasks that are assigned to each position, independent of who might be holding the job at any specific time.
Job analysis
In the context of human resource management challenges, which of the following statements is true of women workers?
Many professional women step out of the workforce early to start their own companies.
Randy, the production manager at a computer hardware manufacturing company, is never satisfied with the productivity of his workers even when they meet or exceed production targets. Hence, he gives equally bad ratings to almost all the factory workers. In the context of performance appraisals, which of the following does this scenario best illustrate?
Negative leniency
Which of the following is an example of survey research?
Online questionnaires
Crystal Corp. is an independent distributor that distributes cosmetics, apparels, shoes, and bags to other business customers on a large scale. It does not take legal title to the goods it distributes. In this scenario, it can be said that Crystal Corp. is a(n) _____.
broker
In the introduction stage of the product life cycle, companies are primarily focused on:
building customer awareness of the product.
Emma owns a bakery in Michigan. To save time, she buys ready-made edible cake decorations from a vendor in Wisconsin. This scenario exemplifies the purchase of a _____.
business product
Expectancy theory advocates that:
employees will continue to perform only if they believe that their efforts are recognized.
Sales above the breakeven point will generate a profit.
true
The price of a product must be relative to the benefits of that product.
true
To create meaning and urgency, a company's strategic goals should be linked to a specific deadline.
true
_____ involves using all the media platforms to promote a product.
Integrated marketing communication
Which of the following statements is true of ownership utility?
It adds value by making it easier for customers to possess the goods that they purchase.
Which of the following statements is true of product-use-based market segmentation?
It helps small companies in narrowing the target markets for their products.
Which of the following statements is true of demand-based pricing?
It is more market-focused than cost-based pricing.
Which of the following statements is true of a flextime plan?
It makes less sense in jobs that entail extensive teamwork.
Which of the following statements is true of new product development?
It requires an understanding of the customer base and involves creativity.
Which of the following is a similarity between demographic segmentation and psychographic segmentation?
Both divide markets based on consumer characteristics.
Which of the following statements is true of customer relationship management (CRM)?
CRM works best when marketers combine marketing communication with one-on-one personalization.
Lester, a hardware engineer, sells his old hatchback to buy a luxury sedan. As he starts driving the new car, he realizes that it is more difficult to maneuver the sedan than his old hatchback. He also realizes that maintaining the sedan is expensive. Lester is rather uncomfortable with the purchase decision he made. In the context of consumer behavior, which of the following concepts does this scenario best illustrate?
Cognitive dissonance
Bodonin, a machinery manufacturer, received a bulk export order for its pneumatic machines. The management decided to hire some factory workers on a contractual basis so that the order can be delivered within its deadline. In the context of employee selection, which of the following types of workers does Bodonin plan to hire?
Contingent workers
Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20-25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow?
Demographic segmentation
Which of the following statements is true of human resources (HR) departments?
Effective HR people remain open to exceptions even as they enforce broad company policies.
Gearjazz, a company that manufactures and sells musical instruments, aims to increase its popularity among music artists and enthusiasts by sponsoring the audio system for the music and arts festival being held in the town of Flavempia. Which of the following marketing strategies does this scenario best illustrate?
Event marketing
_____ refers to the process of seeking new employees from outside a firm.
External recruitment
Ella runs a handicrafts shop named Pentcrafto, where she sells home décor products made from recycled paper. In the context of marketing, which of following utilities does Pentcrafto's products most likely provide?
Form utility
Which of the following is a characteristic of a well-chosen target market?
Good accessibility
Which of the following is most likely a source of information about external opportunities and threats for an organization?
Government reports
Ashley, a fashion photographer in a magazine, is not the most hardworking, talented, or efficient member in her team. However, during performance appraisals, the team leader gives her the best ratings because he is extremely fond of her. In the context of performance appraisals, which of the following does this scenario best illustrate?
Halo effect
As part of its corporate social responsibility activities, Weslimkur, a tire manufacturer, sponsored 1,000 bikes for the city of Clankofton. On every bike, the company's name is engraved along with these words: "Ride to work; help save earth from global warming." Which of the following marketing strategies does this scenario best illustrate?
Idea marketing
Which of the following statements is true of implementing strategies in an organization?
Implementation should happen largely through tactical planning
Which of the following business product categories refer to large capital purchases made by a company that are designed for a long productive life?
Installations
Tyler Connor, a famous politician who supports the ruling party of the island country of Blavanka, endorses a publishing house named Cenzefor that he owns. Many Blavankan writers want to get their books published by Cenzefor because of Connor's connection with the brand. Which of the following marketing strategies does this scenario best illustrate?
People marketing
Jackson runs a chain of small retail stores called Wandmin that sells bottled water, fresh juices, desserts, and some snacks. All outlets of Wandmin are either in the middle of or at the end of walking trails in Jackson's hilly hometown, where several tourists go hiking. In the context of marketing, which of following utilities does Wandmin most likely provide?
Place utility
Which of the following is a traditional promotional tool?
Public relations
Which of the following is the last step of a complete human resource (HR) plan?
Separation
In the context of a SWOT (strengths, weaknesses, opportunities, and threats) analysis, which of the following exemplifies an external threat to a company?
Significant changes in the taxation policies implemented by the government
Which of the following is a key marketing strategy of the maturity phase of a product life cycle?
Targeting competitors
Plotint Bank, a private bank, waives service charges on its insurance products for its existing customers who have term deposits with the bank. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?
The relationship era
Which of the following statements is true of distributors in a channel of distribution?
They add value in a number of different ways to products.
Coastharp, a furniture e-commerce website, allows its customers to book one-hour slots during which they wish to get their furniture delivered. They can also book another one-hour slot to get the delivered furniture assembled at their convenience. The company holds back orders and delays deliveries when customers are not available to receive them. In the context of marketing, which of the following utilities does Coastharp most likely provide through its service?
Time utility
The term _____ refers to policies meant to increase employment and educational opportunities for minority groups.
affirmative action
An advantage of licensing is:
an established reputation.
Julios Inc., a popular apparel brand, pays handsome salaries to its employees. However, to recognize the constant hard work of its employees, it also rewards them with noncash compensation in the form of health insurance, paid sick days, and the options of flextime and telecommuting. In this scenario, Julios Inc. is providing _____ to its employees in addition to salaries.
benefits
The _____ stage of the new product development process entails introducing the product to the general market.
commercialization
In the context of management planning, _____ refers to planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans.
contingency planning
A product has three product layers. They are:
core benefit, actual product, and augmented product.
In the context of goal setting in an organization, the most effective strategic goals are:
defined in clear numerical terms.
Gloria is a manager in a paints and coating manufacturing company. Although the authority of making the final decision lies with her, she is open to suggestions from her peers and employees and tries her best to incorporate them in various situations. In this case, Gloria is a(n) _____.
democratic leader
In the context of organizing, the term _____ refers to the division of workers into logical groups.
departmentalization
In the context of new product adoption, the process of a new product spreading throughout a market after it is introduced is called _____.
diffusion
Kiddiecon is a company that makes stationery products for children. The company relies on door-to-door sales strategy to sell its products. It is evident that Kiddiecon is engaged in _____.
direct selling
Which of the following is a form of non store retailing?
direct selling
Crola, a cell phone manufacturing company, adds a new in-built feature to its cell phones. With the help of this feature, users can now recall messages that they may have accidentally sent to another person. To make use of this feature, the users need to go to the settings of the cell phone and make a few changes. The change made by Crola in its product is an example of a _____.
dynamically continuous innovation
Rahul is a hardworking business administration student. When his business studies lecturer announces an important exam, Rahul decides to put in his best efforts and achieve the highest grade. However, Rahul gets demotivated when the lecturer announces that none has received an A till date, and he feels that it would be pointless to work hard from thereon. This scenario exemplifies _____.
expectancy theory
According to equity theory, people will be motivated if they believe that the relationship between what they contribute and what they earn is different from the relationship between what others contribute and what others earn.
false
In the context of consumer product categories, shopping products have less selective distribution than convenience products.
false
In the context of pricing strategies, companies usually express volume goals in terms of profitability.
false
Internal recruitment increases risk for a firm
false
Railroads are the slowest mode of transportation.
false
Shopping products are the inexpensive goods and services that consumers buy frequently with limited consideration and analysis.
false
Single Tone, a local music and video store, consistently offers music CDs and movie DVDs at lower prices than its competitors. The pricing strategy that Single Tone uses is high/low pricing.
false
The commerce ministry of Setina Islands, a tax haven country, has been advertising the country's business opportunities and tourist-friendly culture in various international magazines. The advertisements illustrate idea marketing.
false
The two key aspects of product quality are level and longevity.
false
Unsought products are expensive products that consumers purchase less frequently.
false
Jack works in a cargo shipping company as a section leader. As a part of his job, he needs to train and evaluate the employees. He also makes sure that the employees constantly remain motivated to carry out their tasks efficiently. Thus, as a section leader, he is heavily involved in the day-to-day production process of the company. In the context of the management hierarchy, Jack is a _____ manager in the company.
first-line
Lionel is one of the project leads in a multinational company. He assigns new projects to his team members and sets the objectives and targets that they need to achieve. However, Lionel does not intervene in their work methods; he is only concerned about the end result. The information given in the scenario indicates that Lionel is a(n) _____.
free-rein leader
In the context of consumer pricing perceptions, odd pricing creates a perception of:
greater value
In the context of social responsibility, environmentally friendly fashion, such as clothing made of organic cotton, is an example of _____.
green marketing
In the context of pricing strategies, the _____ tries to increase traffic in retail stores by special sales on a limited number of products, and greater everyday prices on others.
high/low pricing strategy
Although, as a manager, Anette may not have the best technical skills, she makes up for it through her excellent communication, team building, and coaching skills. Thus, in the context of management skills, Anette exhibits strong _____.
human skills
The best game designers, game programmers, and game artists at Raspouty, a game designing company, are called for interviews to fill the vacant post for a lead programmer in the company. In the context of human resource (HR) planning, this scenario best illustrates _____.
internal recruitment
In 2011 and 2012, many economists were concerned about a jobless recovery because:
labor markets were faltering.
Marketers who cannot forge a close personal bond with every customer but actively gather data and pursue a connection with customers who initiate contact have a _____ with the customers.
limited relationship
Baylaine is a company that sells affordable, low-end cell phones. Baylaine's customers can register product or service complaints with the company through emails; the company's customer support team replies to customer queries and complaints within five hours of the receipt of an email. In the context of customer relationship management, Baylaine most likely establishes _____ with its customers.
limited relationships
Transcone is an independent distributer that distributes home décor related products to various retailers. The company takes legal possession of the goods it distributes. It warehouses the products and ships them to the retailers, but it does not provide credit or marketing assistance. It is evident that Transcone is a(n) _____.
limited-service merchant wholesaler
Gregory works for Ocan Foods, a food supplier. His main responsibility is to make tactical decisions involving the actual movement of goods along his company's supply chain. Gregory is involved in _____.
logistics
In the context of the supply chain for a product, vendor-managed inventory is a strategy that allows suppliers to determine buyer needs and automatically ship product.
true
Mauve Inc. purchased a global data collection and management system that provides detailed information about each of its customers. Using this information, Mauve is able to identify the individual needs of all its customers and provide tailored products and services. This scenario illustrates the concept of:
mass customization.
TrinkCan is a soda manufacturing company. People can buy the company's soda from grocery stores, restaurants, vending machines, and online. In this scenario, it is evident that TrinkCan has adopted _____.
multichannel retailing
Gas stations and fast food that often cluster conveniently at the bottom of freeway ramps are examples of:
place utility
In the context of departmentalization, dividing employees into groups based on the type of work they do is known as _
process departmentalization
David, the CEO of a beverage company, wants to understand the reason for the erratic performance of one of the company's products—Gizell, a health drink—over the past three years. For this, David scrutinizes the biquarterly sales records of Gizell and the annual profits that the company garners from its sales. In this scenario, David is trying to analyze Gizell's _____.
product life cycle
A home décor company manufactures a range of bedding products such as bedspreads, pillows, and mattresses. The range of bedding products represents the _____ of the company.
product line
Nexi10, a brand of cell phones, has a marketing strategy that focuses on its cell phones' features such as battery power and processing speed. According to a survey conducted by the company, the consumers are more than satisfied with the features. This scenario reflects that Nexi10 has a good _____.
quality level
Internal recruitment boosts employee morale by:
reinforcing the value of experience within the firm
Calm Valley Realty, a real estate firm, ensures that it maintains a friendly corporate culture. The firm regularly organizes team lunches and outings where the employees get a chance to expand their network. In the context of Maslow's hierarchy of needs theory, the company is fulfilling the _____ needs of its employees.
social
In the context of management planning, _____ refers to high-level, long-term planning that establishes a vision for the company, defines long-term objectives and priorities, determines broad action steps, and allocates resources.
strategic planning
To help ensure that interviews better predict performance, experts most likely recommend a(n) _____ process, which involves developing a list of questions beforehand and asking the same questions to each candidate.
structured interview
In the context of management skills, front-line managers must have a high degree of _____, which help them hire, train, and evaluate employees; avoid mistakes; and ensure high-quality production.
technical skills
Paula's employer gives her the option to work from home on all working days, provided she has access to the Internet and the company's intranet portal from 10:00 a.m. to 5:00 p.m. In the context of employee benefits, this scenario best exemplifies _____.
telecommuting
A job description is an explanation of the responsibilities for a specific position in an organization.
true
According to Maslow's hierarchy of needs theory, safety needs refer to the need to feel free of harm and fear.
true
After defining the mission of an organization, the next step in strategic planning is to evaluate the organization's competitive position.
true
Both producers and retailers tend to promote shopping products
true
JEMS Enterprise buys wooden furniture, such as tables and chairs, from a furniture manufacturer and sells them to government schools. In this scenario, JEMS Enterprise is a _____.
wholesaler
In the context of employee selection, many companies use _____ simply as an initial screening mechanism.
written applications
