business principles in OLS

Which product would be considered part of the business-to-business market?

a computer for the instructor to use while teaching the class

Broadband technology refers to

a continuous connection to the Internet that allows users to send and receive video, voice, and data files quickly.

When new information is gathered and interpreted by marketers, this represents the __________Blank part of the marketing research process.

analysis

According to Maslow's theory, when a need is satisfied,

another, higher-level need emerges and motivates a person to satisfy that need.

The central idea of MBO is that

employees need to motivate themselves by participating in goal setting.

Equity theory looks at how

employees' perceptions of fairness affect their performance.

A new employee must take an online cultural sensitivity course to move from probationary to permanent status at a multinational firm. Coursework and a final grade will be recorded simply as pass or fail. Which theory suggests that the employee will work only as hard as necessary to pass this course?

expectancy theory

Three firms who collaborate on exterior home projects involving landscapes, hardscapes, and lighting rely on a(n) __________Blank, which contains a semiprivate network allowing them to coordinate customer orders and specifications, and process invoices. Persons outside the firm do not have access to this network.

extranet

The idea behind the marketing concept is

finding out what consumers want and providing it for them.

When it comes to employees moving through a company, what is meant by a "golden handshake"?

giving benefits such as a one-time cash payment to entice older workers to retire

Marketing is as much about helping sellers sell products and services as it is about

helping buyers buy.

One advantage of hiring from within is

helps maintain employee morale, less expensive

Regarding the development of scientific management, Frederick Taylor's objective was to

increase productivity at work.

Technology that helps companies do business, such as voice mail systems or automated teller machines, are examples of

information systems.

Today, customers of Midtown Bank can do most of their banking from their mobile phones, including viewing transactions, paying bills, transferring funds and depositing checks. The type of technology Midtown Bank uses to provide these services is known as

information technology.

When using various forms of promotion to carry the promotion message, it is important that message recipients interpret it in the same way. Creating a unified promotional message, where potential customers perceive the same message, whether it is in a TV commercial or on a social media platform, is called

integrated marketing communication.

Hershey candy products are found in discount stores, grocery stores, convenience stores, and even vending machines. Hershey practices __________Blank distribution with its product lines.

intensive

There are some advantages for an organization that allows employees to work from home. One such advantage is

it increases employee productivity and limits absences.

"Research assistant, with responsibilities for conducting literature searches, data management, and maintaining files for project team members. Prepares articles, reports, and summaries as directed by the lead researcher." This is an example of a

job description.

An HR director was reviewing the job description for a new public relations position. She added some suggestions for incorporating more skill variety into the job and a little more autonomy as to how the job might be accomplished from start to finish. As a student of business, you recognize that the HR director believes that a person holding this position would be motivated by

job enrichment.

When Jamison was hired, he accepted an opportunity to be part of the company's management training program and was paired with a senior manager as a mentor. Besides this on-the-job coaching, a common aspect of management development programs is

job rotation and off-the-job training.

Before new medical technicians are allowed to work directly with hospital patients, they must first practice skills such as drawing blood and starting IVs on a lifelike mannequin. This represents a type of

job simulation.

A group of wired and wireless connected devices in just one location, such as your office, is a

local area network

A major problem with the rapid expansion of information available to managers is that

managers can become overwhelmed with an overabundance of data.

McGregor recognized that

managers' attitudes toward workers affected how they motivated them.

The process of dividing the total market into groups with similar characteristics is called

market segmentation

The most commonly used pay structure today is a __________Blank pay structure in which companies research what other firms are paying and decide to pay either the same, more, or less.

market-based

The channel of distribution consists of __________Blank, who provide transportation and storage of goods as they are distributed from producers to ultimate consumers.

marketing intermediaries

At one time, companies developed products and promotions to please large groups of people and tried to sell the same products to as many people as possible. This is known as

mass marketing.

Differentiating your product so that it will appeal to additional market segments occurs most often at which stage of the product life cycle?

maturity

About 80 percent of all wholesalers are __________Blank. They typically are independent companies that take title to goods that they resell to retailers.

merchant wholesalers

Toyota Motor Corporation is a well-known manufacturer of cars, trucks, and SUVs. Toyota dealers also provide financing to their customers. These products and services are part of Toyota's product

mix

The process surrounding employee exits which includes managing payments, insurance, and benefits; conducting exit interview; collecting work and documents; and returning anything owned by the company is referred to as

offboarding

To get a comprehensive evaluation of the marketing staff he managed, Luis organized a(n) __________Blank, where he asked immediate coworkers and others who worked closely with the marketing staff to participate in the evaluation process.

360-degree review

If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the firm to break even?

5,000

The product life cycle impacts marketing strategies in which way?

Different stages in the product life cycle call for different marketing strategies.

Grady, a highly trained personal chef, lost most of his clients during the pandemic. After unsuccessfully trying to find an executive chef position, he finally took a weekend job working on his friend's food truck. Which statement best describes Grady's situation?

Grady is underemployed.

Which statement is accurate regarding marketing intermediaries?

Intermediaries perform some functions cheaper and faster than manufacturers.

Technology that enables ordinary objects to be connected to the Internet by using sensors, cameras, software, databases, and massive data centers is called

Internet of Things.

What was the impact of Title VII of the Civil Rights Act?

It prohibits discrimination in hiring, firing, and other areas on the basis of race, religion, creed, sex, or national origin.

Which approach suggests that a manager believes employees should be involved in both defining problems and in designing the solutions?

McGregor's Theory Y

What general principle of motivation should modern managers use to guide employee performance?

Motivation mostly comes from the job itself, not external rewards.

__________Blank involves training a device or software to perform a specific task like recognizing images.

Narrow AI

Which motivational management concept builds directly on the scientific management view of people as machines that need programming?

Principle of motion economy

Katya manages a party rental business that hires many seasonal employees. She has little regard for the skill or ability of those she hires, and is sure that few would come to work on time each day if it weren't known that she will fire any employee who is late more than once. As a student of motivational theory, you would describe this management style as

Theory X.

Typically, which statement characterizes Generation X managers?

They tend to focus more on results than on hours in the workplace.

Tiana is getting dressed for work. While listening to music on Spotify, she asks her virtual assistant "Alexa" what the forecast is for the day, and how traffic looks going downtown. Tiana forgets that while she is interacting with the web, information is also being collected about her. This level of intelligence uses __________Blank technology.

Web 3.0

A(n) __________Blank brings buyers and sellers together and assists in negotiating a sale but does not take title to goods.

agent or broker

Employment tests must

be directly related to performance on the job.

When it comes to resolving labor-management disagreements, __________Blank are a tactic used by unions and __________Blank are a tactic used by management.

boycotts; injunctions

Pam and Andre have come up with wording to differentiate their theater training academy from that of their competition. They decide to call their facility "The Performance Factory." Pam and Andre have established their

brand name.

Duncan, a salesperson, is a very hard worker and is willing to work a lot of hours to make the kind of money he wants. Duncan should most likely look for the kind of job that is paid

by commission

At Mahie's company, employees have some choice about the benefits they receive, up to a certain dollar amount. Since Mahie has young children, she opts for childcare benefits, while her coworker prefers an extended wellness program with a health club membership. This is an example of __________Blank fringe benefits.

cafeteria-style

A store that sells a huge variety of one type of product, such as pet supplies, in order to dominate the market for that product is called a

category killer.

Brandon, a consultant, is traveling from Atlanta to Chicago for a client presentation. This presentation is stored in an off-site data center. When he arrives at the client's office in Chicago, Brandon accesses the presentation on his laptop via the Internet. This is an example of

cloud computing.

A manufacturing company is meeting with union representatives to negotiate a contract for workers. This process is called

collective bargaining.

At a local community college, over half of the faculty are part-time employees who have similar credentials as full-time employees but do not have permanent positions. These employees are seldom offered benefits and are not represented by the educators' union. HR experts would designate these professionals as __________Blank employees.

contingent

Websites can send __________Blank to your computer that stay on your hard drive and can track your web movements.

cookies

Orla's Organic Café offers an exclusive chef's table meal once each weekend at a high price point. The items served are prepared tableside by the executive chef, although they do not differ much from the regular menu. This type of pricing strategy would be an example of using pricing to

create a prestigious image.

A focus on long-term customer loyalty is an essential element of

customer relationship management.

During the COVID-19 pandemic, whether you were working from home, attending class remotely, or browsing Instagram, your expectations for quality Internet service were the same across all platforms and all sites, as well as in all locations. This concept is referred to as

net neutrality

As information technology has grown in sophistication, IT professionals have learned how to utilize __________Blank to look for hidden patterns and previously unknown relationships among data which can lead to better decision making.

data mining

In the 1970s, information technology was primarily concerned with __________Blank, while today business intelligence or analytics is the focus.

data processing

What is the first step in the marketing research process?

defining the problem

Frederick Taylor believed the best way to improve worker productivity was to

determine the most efficient way to perform a task, and then teach workers these methods.

Marketing strategies for the business-to-business (B2B) market

differ from consumer marketing strategies because the nature of the buyers is different.

The roles and responsibilities of human resource management have evolved primarily because of changes in the law that rewrote many traditional practices and

organizations' recognition of employees as their ultimate resource.

Elton Mayo's famous experiment at the Hawthorne plant concluded that

people who perceive that management permits them to contribute to work decisions might be more productive.

In the emerging mobile marketing era, consumers expect their interactions with companies to be

personalized and immediate.

A foodservice provider wants to offer new meal options to its university clients. They need information about student preferences, especially regarding new gluten-free, vegetarian, and soy protein entrees, and decide to hold focus group tastings on several campuses. The marketing team is seeking

primary data.

In a recent Netflix remake of Father of the Bride, a character drinks Starbucks coffee from the iconic cup showing the green siren of the seas logo. Marketers would categorize this form of advertising as

product placement.

Publicity is integral to which part of the promotional mix?

public relations

After getting a promotion, Josef decides to buy a Land Rover, the car all the top executives at work drive. Even though it doesn't get good mileage and barely fits in his parking space, Josef can't wait to show off his car at work next week. What aspect of consumer behavior does this represent?

reference group

Two of the characteristics of useful information are

relevance and timeliness.

The major difference between wholesalers and retailers is that

retailers sell to final consumers, while wholesalers sell to another member of the channel of distribution, not the final consumers.

The strategy of making work interesting and motivating employees by moving them from one job to another is called job

rotation.

According to Herzberg, which element is a hygiene factor?

salary

When George learns his favorite athletic shoe brand is offering a buy one/get one 50 percent off special this week, he decides to make a purchase. George is taking advantage of

sales promotion.

During the __________Blank era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

selling

According to Herzberg, which elements would be considered "motivators"?

sense of achievement and opportunity for growth

Which activity would be considered when discussing the marketing mix variables?

setting a price for the product

There are several well-structured steps to the hiring process. This process includes

setting up interviews, performing background checks on selected candidates, and establishing probationary periods.

Public data is a type of information available to businesses today, and includes information gathered through

social media posts.

Recently, The Performance Factory has had several inquiries about training for adult customers. While scanning the __________Blank environment in their service area, they become aware of an increased number of adults looking for a creative leisure-time experience. The team is seriously considering expanding their operation to include voice, acting, and dance lessons targeted to an adult audience.

sociocultural

The primary role of business technology during the 1970s was to

support existing business by improving the flow of financial information.

As Pam and Andre explore the possibility of starting a theatrical training school for community youth, they collect demographic and lifestyle information about the families who would potentially buy their service. This exercise will help to better identify their

target market.

Through environmental scanning, marketers can learn new ways to reach prospective customers. As they scan the __________Blank environment, Pam and Andre hope to buy the newest 3D body motion tracking equipment so they can analyze and teach dance movement in a highly customized way.

technological

A characteristic of business-to-business (B2B) customers is that they

tend to be more rational in their decision making than individual consumers.

A running shoe company considers adding reusable water bottles and other accessories to its merchandise. Before stocking these items in every store, the company made them available in a few established markets to determine customer reactions. This process is called

test marketing.

The tendency for people to behave differently when they know they're being studied is referred to as

the Hawthorne effect.

William Ouchi's Theory Z recognized

the merits of a hybrid form of Japanese-style management and American style of management.

When performing a job analysis, the human resource manager will write a job description as well as a job specification. The job specification consists of

the minimum education and skills needed for the job.

Promotion is one of the four Ps of marketing. The promotion mix refers to

the promotional tools marketers use to carry out the promotional strategy.

Candace is considering buying new golf clubs. Naturally, she compares several manufacturers, but also evaluates each company's reputation, warranty, her own experience with the brand, and of course, the price. All the components that Candace is evaluating make up

the total product offer.

Business intelligence (BI) is defined as

the use of software applications to analyze an organization's raw data and derive useful insights from it.

A legally protected brand is a

trademark.

According to Maslow' motivational theory, if Rae secured a good-paying job that paid her enough to live in a decent apartment and buy a sturdy car, and if she felt that both work and home were safe places, she would likely

turn her focus to the next level of needs, social needs.

Any strategy that encourages people to pass on a marketing message to others, creating exponential growth in the message's influence as the message reaches thousands or even millions, is known as

viral marketing.

A piece of programming code inserted into other programming that can cause an unexpected and usually undesirable event is a security threat called a

virus.

Information technology (IT) has changed

where we do business and when we do business.