Business 101 Test 2 Ch. 8,11,12,13

The manufacturing process requires the use of a variety of technologies. Which of the following is not one of the technologies used in the manufacturing process?

Flexible production systems

Utility is the ability of a good or service to satisfy a human need. Which type of utility is the concern of operations management?

Form utility

Manufacturing in the United States has dropped significantly, however the cost of manufacturing has decreased. Which of the following can be attributed to the increase in manufacturing productivity in the United States?

Innovation and skilled workers

Consumer buying behavior is affected by the individual's buying power. Which of the following is not included in an individual's buying power?

Interest and dividend income

What are the four most common types of shopping centers?

Lifestyle, neighborhood, community, and regional

What does integrated marketing communications foster?

Long-term customer relationships and efficient use of promotional resources

Marketing is based on many different relationships between customers, wholesalers and producers, buyers, and sellers. What does the term relationship marketing refer to?

Marketing decisions and activities focused on achieving long-term, satisfying relationships with customers

What is the goal of materials handling?

Minimize the number of times a product is handled

What is a major advantage and major disadvantage of personal selling?

Most adaptable of promotional methods; most expensive of promotional methods

Which of the following types of publicity is provided by an organization to the media and is usually one typed page (about 300 words)?

News release

Which of the following types of retail stores is best described as a large-scale members-only establishment that combines features of cash-and-carry wholesaling with discount retailing?

Warehouse club

Questions like "which customers have the financial resources, willingness, and authority to buy the product?" and "who are the most likely customers for this product?" are addressed during the ______ phase of personal selling.

prospecting

Which of the following is a primary disadvantage of using magazine advertising?

30- to 90-day average lead time

Which of the following is not a type of sales promotion?

A customer blogging about a product

Which of the following modes of transportation is most likely to be used for high-value, perishable goods that are needed immediately?

Airplanes

What marketing environment forces are most likely to affect a marketer's choice of sales promotion method?

Competitive and regulatory

Which of the following is not normally included as a central component of a marketing plan?

Consumer protection laws

What is the name given to determining what a product will look like, what options it will have, where it will be made, and other variables that arise when a company has an idea for a product and moves it into research and development?

Design planning

What is the first step for a service business to begin planning and provide the services its customers want?

Determine who the customer is and what needs the customer has

When developing an advertising campaign, an organization generally decides which media (TV, radio, Internet, social media, etc.) will be used during which step?

Develop the media plan (step 5)

What do business people mean when they talk about lean manufacturing?

Eliminating waste from all of the activities required to produce a good or service

When a company pays for all or part of a special occasion such as a concert, sports competition, festival, or play the company is using which type of public-relations tool?

Event sponsorship

Which of the following is not considered an element of the promotion mix?

Physical distribution

If the goal is to increase the demand for all brands of a product within a specific industry then what type of advertising should be used?

Primary-demand advertising

Where does research and development begin?

Research and development begins with an idea.

To determine the potential of a specific market segment an organization makes predictions based on a specific relevant time frame, geographic boundaries, and an estimate for the specific product item, product line, or an entire product category. What is the name given to the estimate of the amount of a product that an organization expects to sell during the specific period based on a specified level of marketing effort?

Sales forecast

Which element of the promotion mix uses activities or materials as direct inducements to customers?

Sales promotion

What part of operations control involves the process of ensuring that materials and other resources are at the right place at the right time?

Scheduling

What is the name given to an economy in which less effort is devoted to the production of goods than other things?

Service economy

Which of the following is NOT a common activity of warehousing?

Shipment of goods to customers

The major resources used in production are financial, material, information, and people. What does the magnitude of change have to do with the conversion process of these resources?

The magnitude of change of a conversion process is the degree to which the resources are physically changed.

Once the production process begins, a company must engage in operations control, which includes purchasing, inventory control, scheduling, and quality control. What is the objective of purchasing?

To ensure that required materials are available when they are needed, in the proper amounts, and at minimum cost

Which of the following is not a major reason why marketers would use sales promotion activities and materials?

To invigorate the sales of a product in the growth stage

What is the major goal of integrated marketing communication?

To send a consistent message to customers

When a research and development department is engaged in activities geared toward discovering new knowledge with some potential use it is engaged in ____

applied research

Nonstore retailing occurs in all of the following ways, except:

category killer

When considering the external marketing environment, organizations must consider ___, which is the actions of competitors who are in the process of implementing their own marketing plans.

competitive forces

Centrum Silver is a multiple vitamin marketed to individuals over fifty years old. The company divides its market into Centrum Silver for women 50+ and Centrum Silver for Men 50+. The organization is using a ______approach to market these products.

concentrated market segmentation

Buying behavior may be defined as the decisions and actions of people involved in buying and using products. Which of the following is normally included as a major focus in the study of buying behavior?

consumer buying behavior

____ often differs based on the product being purchased. For instances, low-cost items are purchased with routine response behavior and very little search or decision-making, but expensive, seldom-purchased items call for extended research and decision making.

consumer buying behavior

____focuses on using information about the customer to create marketing strategies that develop and sustain desirable customer relationships

customer relationship managment

Which of the following is not a step in the marketing research process?

estimate sales

Which of the following is not normally included in the external marketing environment?

finances

Marketers seek to balance _______ costs and _______ costs so that the company always has sufficient inventory to satisfy customer demand, but with little surplus because storing unsold products can be very expensive.

holding; stock-out

Which part of the marketing concept is concerned with using information about present and potential customers to provide a product that will satisfy them at a price that is acceptable to them, that will yield a profit, that will promote the product, and ensure that the product is distributed so that it is available to customers where and when it is needed?

implementing

___ is the process of managing inventories in such a way as to minimize costs, including both holding costs and potential stock-out costs.

inventory control

The _____efers to the degree to which resources are physically changed during the conversion process.

magnitude of change

A business philosophy that a firm should provide goods and services that satisfy customers' needs through a coordinated set of activities that allow the firm to achieve its objectives is most often called the ____

marketing concept

The purpose of a ____is to establish a unified vision for an organization and to communicate this vision among the firm's employees.

marketing plan

___ is an important step of the marketing process because it involves collecting and analyzing data on what consumers want and need, their consumption habits, trends, and changes in the marketing environment.

marketing research

A(n) ___manages the systems that convert resources into goods and services.

operations manager

When a salesperson participates in creative selling (selling a firm's products to new customers and increasing sales to current customers) they are acting as a(n):

order getter

A pair of shoes is given ___when it is shipped from a factory to a department store.

place utility

__ involves three phases to convert an idea that meets customer needs to an actual good or service

planning for production

By Abram's Company buying products to use in the manufacture of other products, it has demonstrated that it is part of the ____

producer market

When a company tests products to ensure that the goods and services are produced in accordance with design specifications, it is engaged in ____

quality control

Part of the development of a product involves ___ and ____ as the product is improved, which generally results in an essentially new product.

refinement , extension

A market is a group of individuals or organizations, or both, that need products in a given category and that have the ability, willingness, and authority to purchase them. Which of the following is the name given to the market for intermediaries who buy finished products and sell them for a profit?

reseller market

____of materials is the sequence of workstations that the materials will follow in the production process.

routing

Managers rely on ____to purchase raw materials, schedule production, secure financial resources, consider plant or equipment purchases, plan inventory levels, and hire personnel, therefore they must be accurate.

sales forecasts

In 1900 only 28 percent of American workers were employed in service firms but by the beginning of 2017 this figure had risen to 88 percent. This increase in service-related business has led to America being said to have a ____

service economy

____is/are characterized by being consumed immediately, being provided when and where the customer desires them, is/are labor-intensive, and has/have a high degree of customer involvement.

services

Businesses need to direct their product marketing strategies to the individuals most likely to purchase it. Often marketing managers examine potential markets for their possible effects on the firm's sales, costs, and profits. Which of the following is the designation given for the group to which marketing managers direct the focus of their marketing efforts for a product?

target market

Many homes are decorated in spring colors because these colors are deemed to be uplifting; however, most department stores do not carry products in spring colors in the fall and winter when the focus is on browns and greens. Which of the following utilities explains the reason for spring-colored product availability?

time utility

Publicity differs from advertising in that it is _____

unpaid