BUS 105 Quiz 2

harmonizing (roles that team members play: relationship-building roles)

"Actually, I think you're both saying pretty much the same thing."

tension relieving (roles that team members play: relationship-building roles)

"Before we go on to the next section, how many people would like a pillow?"

summarizing (roles that team members play: task facilitating roles)

"Before we jump ahead, here's what we've decided so far."

reality testing (roles that team members play: task facilitating roles)

"Can we make this work and stay within budget?"

consensus building (roles that team members play: relationship-building roles)

"Do we agree on the first four points even if number five needs a little more work?"

information seeking (roles that team members play: task facilitating roles)

"Does anyone know if this is the latest data we have?"

information giving (roles that team members play: task facilitating roles)

"Here are latest numbers from...."

confronting (roles that team members play: relationship-building roles)

"How does that suggestion relate to the topic that we're discussing?"

elaborating (roles that team members play: task facilitating roles)

"I think a good example of what you're talking about is...."

developing (roles that team members play: relationship-building roles)

"If you need some help pulling the data together, let me know."

monitoring (roles that team members play: task facilitating roles)

"If you'll take care of the first section, I'll make sure that we have the second by next week."

energizing (roles that team members play: relationship-building roles)

"It's been a long time since I've had this many laughs at a meeting in this department."

empathizing (roles that team members play: relationship-building roles)

"It's not you. The numbers are confusing."

direction giving (roles that team members play: task facilitating roles)

"Jot down a few ideas and we'll see what everyone has come up with."

urging (roles that team members play: task facilitating roles)

"Let's try to finish this proposal before we adjourn."

nonverbal communication

"Nonword" messages communicated through facial expressions, posture, gestures, and tone of voice.

supporting (roles that team members play: relationship-building roles)

"Now, that's what I mean by a practical application."

enforcing (roles that team members play: task facilitating roles)

"We're getting off track. Let's try to stay on topic."

process analyzing (roles that team members play: task facilitating roles)

"What happened to the energy level in this room?"

wholesalers

(or distributors) buy goods from suppliers and sell them to businesses that will resell or use them.

compensation

Another component of many ____________________ packages is benefits—compensation other than salaries, wages, or financial incentives. Benefits may include paid time off, insurance, and retirement benefits.

mediation

Approach used to resolve a labor-contract dispute by following the recommendation of an impartial third party.

life

As a product moves through its __________ cycle, the company that markets it will shift its marketing-mix strategies.

mature (product life cycle step 3)

At some point the market stabilizes, and the product becomes _______________

draw up a team charter (8 ways to add value to and survive team projects in college)

At the beginning of the project, draw up a team charter (or contract) that includes the goals of the group; ways to ensure that each team member's ideas are considered and respected; when and where your group will meet; what happens if a team member skips meetings or doesn't do his or her share of the work; how conflicts will be resolved.

(intermediary) intermediaries

Companies can sell directly (from stores or over the Internet) or indirectly, through ____________________ —retailers or wholesalers who help move products from producers to end users.

permission marketing

Companies that ask customers if they can contact them are engaged in _____________ ______________

prestige pricing

Companies use ____________ _________________ to capitalize on the common association of high price and quality, setting an artificially high price to substantiate the impression of high quality.

benefits

Compensation other than salaries, hourly wages, or financial incentives.

salary

Compensation paid for fulfilling the responsibilities of a position regardless of the number of hours required to do it.

commission

Compensation paid to employees based on the dollar amount of sales that they make.

wages

Compensation paid to employees based on the number of hours worked.

piecework

Compensation paid to workers according to the quantity of a product that they produce or sell.

helps

Competitive compensation also __________.

brand loyalty

Consumer preference for a particular brand that develops over time based on satisfaction with a company's products.

packaging

Container that holds a product and can influence a consumer's decision to buy or pass it up.

advantages of social media marketing

Create brand awareness Engage customers and potential customers in two-way conversations Build brand loyalty Offer and publicize incentives Gather feedback on products and marketing initiatives Have customers spread the word about products and marketing initiatives Use low-cost marketing opportunities

find fault (how to block teamwork: tactics of blocking strategy)

Criticize and withhold credit whenever possible

acknowledge common points of view (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

Even if you're about to propose some kind of change, before embarking on a new stage of a project recognize the value of the views that members already hold in common.

decline (product life cycle step 4)

Eventually, its appeal diminishes, and it's overtaken by competing brands or substitute products. Sales _______________ and it's ultimately taken off the market.

lack of managerial support (4 common obstacles to team success)

Every team requires organizational resources to achieve its goals, and if management isn't willing to commit the needed resources—say, funding or key personnel—a team will probably fall short of those goals.

technical skills decision-making and problem-solving skills interpersonal skills

Every team requires some mixture of three sets of skills. What are the 3 sets of skills?

external marketing environment

Factors external to the firm that present threats and opportunities and that require shifts in marketing plans.

need recognition (buying process)

The process began when you recognized a need to go to college. Perhaps you wanted to prepare for a particular career, to become better educated, or to postpone going to work full time. Maybe your parents insisted.

practice

The saying "_______________ makes perfect" is definitely true when giving presentations (especially for beginners).

product life cycle

The stages of development and decline that products go through over their lives is called the _____________ _________ __________

consumers

The success of a business depends on its ability to identify the unmet needs of _____________________ and to develop products that meet those needs at a reasonable cost.

time utility (4 types of utility or benefit products provide customers)

The value to a consumer of having a good or a service available at a convenient time. A concessionaire selling bottled water at a summer concert is making liquid refreshment available when it's needed.

place utility (4 types of utility or benefit products provide customers)

The value to a consumer of having a product available in a convenient location. A street vendor selling hotdogs outside an office building is making fast food available where it's needed.

form utility (4 types of utility or benefit products provide customers)

The value to consumers from changing the composition of a product. A company that makes apparel is turning raw material (fabric) into a form (clothing) that people need. A company that produces liquid detergent, rather than powdered detergent, is adding form utility for some consumers.

perception (5 variables of psychological influences on buying behavior)

The way you select, organize, and interpret information.

motivation

There are four influential theories of __________________: hierarchy-of-needs theory, two-factor theory, expectancy theory, and equity theory

variable costs

These are costs that vary, in total, as the quantity of goods sold changes but that stay constant on a per-unit basis. State variable costs on a per-unit basis

customer value triad

Three factors that customers consider in determining the value of a product: quality, service, and price.

resist (how to block teamwork: tactics of blocking strategy)

Throw up roadblocks to progress; look on the negative side

Members work better together than individually (7 factors that make teams effective)

When team members perform better as a group than alone, collective performance exceeds individual performance.

members depend on each other (7 factors that make teams effective)

When team members rely on each other to get the job done, team productivity and efficiency are high.

success (5 factors contribute to team cohesiveness)

When teams are successful, members are satisfied, and other people are more likely to be attracted to their teams.

the 4 ps of marketing (marketing mix)

product: Developing a product that meets the needs of the target market Price: Setting a price for the product Place: Distributing the product—getting it to a place where customers can buy it Promotion: Promoting the product—informing potential buyers about it

expectancy theory

proposes that employees work hard to obtain a reward when they value the reward, believe that their efforts will result in acceptable performance, and believe that acceptable performance will lead to a desired outcome or reward.

hierarchy-of-needs theory

proposes that we're motivated by five unmet needs—physiological, safety, social, esteem, and self-actualization— and must satisfy lower-level needs before we seek to satisfy higher-level needs.

sales promotion

provide potential customers with direct incentives to buy.

group cohesiveness

refers to the attractiveness of a team to its members. If a group is high in cohesiveness, membership is quite satisfying to its members; if it's low in cohesiveness, members are unhappy with it and may even try to leave it.

3 major branding strategies

private branding generic branding manufacture branding

selling directly to consumers

producer to consumer

selling through retailers

producer to retailer to consumer

selling through wholesalers

producer to wholesaler to retailer to consumer

introduction growth maturity decline

what are the stages of the product life cycle?

flextime

Alternative work arrangement that allows employees to designate starting and quitting times.

profit margin

Amount that a company earns on each unit sold.

idea

An ____________ turns into a business opportunity when it has commercial potential—when you can make money by selling the product.

labeling

Information on the package of a product that identifies the product and provides details of the package contents.

secondary data

Information used in marketing decisions that has already been collected for other purposes.

introduced (product life cycle step 1)

Once it's developed, a new product is ___________________ to the market.

new

_________ employees will need initial training to start their jobs, and they'll need additional training as they grow in or change their jobs.

slowly

An effective approach is to take things ___________, providing new employees with information on a need-to-know basis while making them feel as comfortable as possible

bonuses

Annual income given to employees (in addition to salary) based on company-wide performance.

manufacturer branding

Branding strategy in which a manufacturer sells one or more products under its own brand names.

storage warehouse

Building used for the temporary storage of goods

marketing concept

1) find out what customers need 2) develop products to meet those needs 3) engage the whole company in efforts to satisfy customers 4) achieve company goals (make a profit)

marketing strategy

1) selecting a target market 2) developing your marketing mix-implementing strategies for creating, pricing, promoting, and distributing products that satisfy customers

supply chain

A firm can produce better-quality products at lower cost and distribute them more effectively by successfully managing its __________ ____________—the entire range of activities involved in producing and distributing products, from purchasing raw materials, transforming raw materials into finished goods, storing finished goods, and distributing them to customers.

challenge

A __________________ of social media marketing is that it can be very time consuming to stay in touch with your customers and potential customers.

collaborative

Accomplishing these goals requires a ________________________ effort by individuals from all areas of the organization: operations management (including representatives from engineering, design, and manufacturing), marketing, accounting, and finance.

orientation

Activities involved in introducing new employees to the organization and their jobs.

ethnically

Additionally, people from varied backgrounds can help an organization connect with an _________________ diverse customer base

recruiting

After analyzing the jobs that must be performed, the HR manager forecasts future hiring needs and begins the ________________ process to identify suitable candidates and encourage them to apply.

customers

After you've identified a group of potential ___________________, your next step is finding out as much as you can about what they think of your product idea.

evaluation (buying process)

At this point, you studied the information you'd gathered. First, you probably decided what you wanted from a college. Perhaps price was your number-one criterion, or maybe distance from home. Maybe size was important, or reputation or available majors. Maybe it was the quality of the football team or the male-to-female ratio.

marketing concept

Basic philosophy of satisfying customer needs while meeting organizational goals.

generates positive energy (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

Be optimistic and compliment team members. Recognize their progress and success.

be considerate of each other (8 ways to add value to and survive team projects in college)

Be patient, listen to everyone, communicate frequently, involve everyone in decision making, don't think you're always right, be positive, avoid infighting, and build trust.

customer-relationship management

Because customers are vital to a business, successful companies practice ____________________ _______________________—retaining good customers by keeping information on current customers, to foster and maintain strong ongoing relationships.

decision-making and problem-solving skills (3 sets of skills every team requires)

Because every task is subject to problems, and because handling every problem means deciding on the best solution, it's good to have members who are skilled in identifying problems, evaluating alternative solutions, and deciding on the best options.

interpersonal skills (3 sets of skills every team requires)

Because teams are composed of people, and because people need direction and motivation and depend on communication, every group benefits from members who know how to listen, provide feedback, and smooth ruffled feathers. The same people are usually good at communicating the team's goals and needs to outsiders.

technical skills (3 sets of skills every team requires)

Because teams must perform certain tasks, they need people with the skills to perform them. For example, if your project calls for a lot of math work, it's good to have someone with the necessary quantitative skills.

industry

Before developing a new product, you need to understand the _____________ in which it will be sold.

investment

Before making a substantial _________________ in the development of a product, you need to ask yourself: are there enough customers willing to buy my product at a price that will allow me to make a profit? Answering this question means performing one of the hardest tasks in business: forecasting demand for your proposed product. There are several possible approaches to this task that can be used alone or in combination.

blocking roles

Behavior that inhibits either team performance or that of individual members.

overgeneralize (how to block teamwork: tactics of blocking strategy)

Blow things out of proportion; float unfounded conclusions

encourage and coach (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

Buoy up members when they run into new and uncertain situations and when success depends on their performing at a high level. Give them the information they need and otherwise help them to perform tasks.

diverse

But ensuring a ______________ workforce goes well beyond both legal compliance and ethical commitment. It's good business, because a _______________ group of employees can bring fresh points of view that may be valuable in generating ideas and solving problems

consumer market

Buyers who want a product for personal use.

industrial market

Buyers who want a product for use in making other products.

interruption marketing

TV advertising is a form of ___________________ _______________ that interrupts people to get their attention (with the hope they will listen to the ad).

marketing mix

Combination of product, price, place, and promotion (often called the four Ps) used to market products.

public relations

Communication activities undertaken by companies to garner favorable publicity for themselves and their products.

job specification

Detailed list of the qualifications needed to perform a job, including required skills, knowledge, and abilities.

create a process for resolving conflict (8 ways to add value to and survive team projects in college)

Do this before conflict arises. Set up rules to help the group decide whether the conflict is constructive, whether it's personal, or whether it arises because someone won't pull his or her weight. Decide, as a group, how conflict will be handled.

demonstrate integrity (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

Do what you say you'll do, and act in accordance with your stated values. Be honest in communicating with members, and follow through on promises.

application

Document completed by a job applicant that provides factual information on the person's education and work background.

set deadlines (8 ways to add value to and survive team projects in college)

Don't leave everything to the end; divide up tasks, hold team members accountable, and set intermediary deadlines for each team member to get his or her work done. Work together to be sure the project is in on time and in good shape.

dominate (how to block teamwork: tactics of blocking strategy)

Talk as much as possible; interrupt and interject

SCM (supply chain management)

Effective _____________ requires cooperation, not only among individuals within the organization but also among the company and its suppliers and dealers. In addition, a successful company provides customers with added value by focusing on and improving its value chain—the entire range of its value-creating activities.

on-the-job training

Employee training (often informal) that occurs while the employee is on the job.

motivated

Employees report that they're ________________ to perform well when they're challenged, respected, treated fairly, and appreciated

value chain

Entire range of activities involved in delivering value to customers.

unwillingness to cooperate (4 common obstacles to team success)

Failure to cooperate can occur when members don't or won't commit to a common goal or set of activities. What if, for example, half the members of a product-development team want to create a brand-new product and half want to improve an existing product? The entire team may get stuck on this point of contention for weeks or even months.

EEOC (equal employment opportunity commission)

Federal agency in charge of enforcing federal laws on employment discrimination.

off-the-job training

Formal employee training that occurs in a location away from the office.

interview

Formal meeting during which the employer learns more about an applicant and the applicant learns more about the prospective employer.

performance appraisals

Formal process in which a manager evaluates an employee's work performance.

reference groups (4 factors of social influences on buying behavior)

Friends or other people with whom you identify.

stall (how to block teamwork: tactics of blocking strategy)

Frustrate efforts to come to conclusions: decline to agree, sidetrack the discussion, rehash old ideas

focus group

Group of individuals brought together for the purpose of asking them questions about a product or marketing strategy.

market segments

Group of potential customers with common characteristics that influence their buying decisions

job analysis

Identification of the tasks, responsibilities, and skills of a job, as well as the knowledge and abilities needed to perform it.

labor

If _____________ differences can't be resolved through collective bargaining or formal grievance procedures, each side may resort to a variety of tactics. The union can do the following: 1) Call a strike 2) Organize picketing 3) Arrange for boycotting

contract

If there's no written employment _________________, the employment relationship falls under the principle of employment-at-will, by which an employer can end it at any time. Usually, however, the employer must show just cause.

failure of teams to cooperate (4 common obstacles to team success)

If you're on a workplace team, your employer probably depends on teams to perform much of the organization's work and meet many of its goals. In other words, it is, to some extent, a team-based organization, and as such, reaching its overall goals requires a high level of cooperation among teams. [5] When teams can't agree on mutual goals (or when they duplicate efforts), neither the teams nor the organization is likely to meet with much success.

pay

In addition to ______, many employees can earn financial rewards based on their own and/or their employer's performance.

differences

In addition to having well-trained employees, it's important that a workforce reflects the broad range of ___________________ in the population

qualified

In addition to offering competitive compensation, companies may take a variety of steps to retain _______________ employees: Providing appropriate training and development Helping employees achieve a satisfying work/nonwork balance in their lives Creating a positive work environment Recognizing employee efforts Involving employees in decision making

EEOC

In recruiting and hiring, managers must comply with antidiscrimination laws enforced by the _______________

manager-led team

In the traditional _________________ ___________, the leader defines the team's goals and activities and is responsible for its achieving its assigned goals.

stock-option plans

Incentive program that allows eligible employees to buy a specific number of shares of company stock at a set price on a specified date.

profit-sharing plan

Incentive program that uses a predetermined formula to distribute a share of company profits to eligible employees.

project team

Individuals from different functional areas assigned to work together throughout the product development process.

job enlargement

Job redesign strategy in which management enhances a job by adding tasks at similar skill levels.

job enrichment

Job redesign strategy in which management enriches a job by adding tasks that increase both responsibility and opportunity for growth.

job rotation

Job redesign strategy that allows employees to rotate from one job to another on a systematic basis.

(5) tips to write a memo

Keep paragraphs short and to the point. Accent or highlight major points. Use short headings. Your title should reflect the contents of your memo. Be persuasive and convincing in your narrative.

learning (5 variables of psychological influences on buying behavior)

Knowledge gained through experience and study.

employment-at-will

Legal doctrine that allows an employer to fire an employee at will.

be clear and consistent (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

Let members know that you're certain about what you want, and remember that being clear and consistent reinforces your credibility.

share information (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

Let members know that you're knowledgeable about team tasks and individual talents. Check with team members regularly to find out what they're doing and how the job is progressing. Collect information from outside sources, and make sure that it gets to the team members who need it.

distribution center

Location where products are received from multiple suppliers, stored temporarily, and then shipped to their final destinations.

job redesign

Management strategy used to increase job satisfaction by making jobs more interesting and challenging.

lockout

Management tactic of closing the workplace to union workers.

performance

Managers conduct performance appraisals to evaluate work ____________________, usually following a three-step process: 1) Setting goals and performance expectations and specifying the criteria for measuring performance 2) Completing written evaluations to rate performance according to predetermined criteria 3) Meeting with employees to discuss evaluations and ways to improve performance

job description job specification

Managers organize information about a given job by performing a job analysis, which they use to prepare two documents:

balance

Many organizations recognize the need to help employees strike a __________________ between their work and home lives and offer a variety of work arrangements to accommodate different employee needs.

advertising agency

Marketing consulting firm that develops and executes promotional campaigns for clients.

task-facilitating roles

Member role that helps a team accomplish its goals.

relationship-building roles

Member role that helps a team maintain or improve group cohesiveness

competition (5 factors contribute to team cohesiveness)

Members value membership more highly when they're motivated to achieve common goals—especially when those goals mean outperforming other teams.

boycotting

Method used by union members to voice displeasure with certain organizations by refusing to buy the company's products and encouraging others to follow suit.

primary data

Newly collected marketing information that addresses specific questions about the target market.

strikebreakers

Nonunion workers who are willing to cross picket lines to replace strikers.

reject (how to block teamwork: tactics of blocking strategy)

Object to ideas offered by people who tend to disagree with you

terminate

On the other hand, employers may have to ______________ the employment of (that is, fire) some workers. 1) They may lay off workers because revenues are down and they have to downsize—to cut costs by eliminating jobs. 2) Sometimes a job is phased out, and sometimes an employee simply fails to meet performance requirements.

selection

Once a pool of suitable candidates has been identified, managers begin the __________________ process, reviewing information provided by candidates on employment applications and administering tests to assess candidates' skills and knowledge.

information search (buying process)

Once you recognized the need to go to college, you probably started gathering information about colleges. You may have gone online and studied the Web sites posted by a few schools. Perhaps you attended college fairs or spoke with your high school guidance counselor. You probably talked with friends about your options. Once you let colleges know that you were interested, admissions departments likely sent you tons of information.

labor union

Organized group of workers that bargains with employers to improve its members' pay, job security, and working conditions.

similarity (5 factors contribute to team cohesiveness)

People usually get along better with people like themselves, and teams are generally more cohesive when members perceive fellow members as people who share their own attitudes and experience.

turnover

Permanent separation of an employee from a company.

never miss a meeting (8 ways to add value to and survive team projects in college)

Pick a weekly meeting time and write it into your schedule as if it were a class. Never skip it. And make your meetings productive.

marketing strategy

Plan for selecting a target market and creating, pricing, promoting, and distributing products that satisfy customers.

downsizing

Practice of eliminating jobs to cut costs.

discrimination

Practice of treating a person unfairly on the basis of a characteristic unrelated to ability.

skimming pricing

Pricing strategy in which a seller generates early profits by starting off charging the highest price that customers will pay.

collective bargaining

Process by which management and union-represented workers settle differences.

marketing research

Process of collecting and analyzing data that's relevant to a specific marketing situation.

selection

Process of gathering information on candidates, evaluating their qualifications, and choosing the right one.

materials handling

Process of physically moving or carrying goods during production, warehousing, and distribution.

private branding

Product made by a manufacturer and sold to a retailer who in turn resells it under its own name.

generic branding

Product with no branding information attached to it except a description of its contents.

incentive programs

Program designed to financially reward employees for good performance.

goals

Reaching teamwork __________ requires skills in negotiating trade-offs, and teamwork brings these skills into play at almost every step in the process

present opinions as facts (how to block teamwork: tactics of blocking strategy)

Refuse to seek factual support for ideas that you personally favor

deflect (how to block teamwork: tactics of blocking strategy)

Refuse to stay on topic; focus on minor points rather than main points

make premature decisions (how to block teamwork: tactics of blocking strategy)

Rush to conclusions before goals are set, information is shared, or problems are clarified

product development process

Series of activities by which a product idea is transformed into a final product.

contribute your ideas (8 ways to add value to and survive team projects in college)

Share your ideas with your group; they might be valuable to the group. The worst that could happen is that they won't be used (which is what would happen if you kept quiet).

use the strengths of each team member (8 ways to add value to and survive team projects in college)

Some students are good researchers, others are good writers, others have strong problem-solving or computer skills, while others are good at generating ideas. Don't have your writer do the research and your researcher do the writing. Not only would the team not be using its resources wisely, but two team members will be frustrated because they're not using their strengths.

target market

Specific group of customers who should be interested in your product, have access to it, and have the means to buy it.

overanalyze (how to block teamwork: tactics of blocking strategy)

Split hairs and belabor every detail

remain passive (how to block teamwork: tactics of blocking strategy)

Stay on the fringe; keep interaction to a minimum; wait for others to take on work

consumer behavior

Successful marketing often hinges on understanding ______________ _____________ —the decision process that individuals go through when purchasing or using products.

just-in-time production

System for reducing inventories and costs by requiring suppliers to deliver materials just in time to go into the production process.

failure of managers to delegate authority (4 common obstacles to team success)

Team leaders are often chosen from the ranks of successful supervisors—first-line managers who give instructions on a day-to-day basis and expect to have them carried out. This approach to workplace activities may not work very well in leading a team—a position in which success depends on building a consensus and letting people make their own decisions.

Leadership rotates (7 factors that make teams effective)

Teams function effectively when leadership responsibility is shared over time.

members trust one another (7 factors that make teams effective)

Teamwork is more effective when members trust each other.

contingent workers

Temporary or part-time worker hired to supplement a company's permanent workforce.

groupthink

Tendency to conform to group pressure in making decisions while failing to think critically or to consider outside influences.

body (3 section in preparing your presentation)

The ____________ covers your main points and uses about 80 to 85 percent of your time.

size (5 factors contribute to team cohesiveness)

The bigger the team, the less satisfied members tend to be. When teams get too large, members find it harder to interact closely with other members; a few members tend to dominate team activities, and conflict becomes more likely.

post purchase evaluation (buying process)

The buying process didn't end when you selected a school. It continues today, while you're using the "product" you purchased. How many times have you rethought your decision? Are you happy with it? Would you make the same choice again?

personality (5 variables of psychological influences on buying behavior)

The collection of attributes that characterize an individual.

HR

The efforts of ______ managers to build a workforce that's representative of the general population are driven in part by legal concerns: discrimination is illegal, and companies that violate antidiscrimination laws are subject to prosecution

marketing

The field of _________________ is extensive, and so are the opportunities for someone graduating with a marketing degree. A few of the options available include advertising, brand and product management, marketing research, supply chain and logistics management, retailing, and sales.

exclusiveness (5 factors contribute to team cohesiveness)

The harder it is to get into a group, the happier the people who are already in it. Status (the extent to which outsiders look up to a team, as well as the perks that come with membership) also increases members' satisfaction.

motivation (5 variables of psychological influences on buying behavior)

The internal process that causes you to seek certain goals.

self-managing team

The leader of a ________________ ____________ may determine overall goals, but employees control the activities needed to meet them.

product

The majority of _____________ ideas come from entrepreneurs and small business owners, though medium and large organizations also must identify product-development opportunities in order to remain competitive.

Team members enjoy being on the team (7 factors that make teams effective)

The more that team members derive satisfaction from being on the team, the more committed they become.

teams

To be successful, _________ need a certain amount of autonomy and authority in making and implementing their decisions.

strategic human resource planning

To ensure that the organization is properly staffed, managers engage in ___________ ____________ _____________ _________________

purchase (buying process)

Ultimately you made a "purchase" decision. In so doing, you focused on what was most important to you. Naturally, you could choose only among schools that had accepted you.

strike

Union tactic by which workers walk away from their jobs and refuse to return until a labor-management dispute has been resolved.

picketing

Union tactic of parading with signs outside a factory or other facility to publicize a strike.

grievances

Union worker complaints on contract-related matters.

pull rank (how to block teamwork: tactics of blocking strategy)

Use status or title to push through ideas, rather than seek consensus on their value

ownership utility (4 types of utility or benefit products provide customers)

Value created by transferring a product's ownership. A real estate agent helping a young couple buy a home is transferring ownership from someone who doesn't need it to someone who does.

brand equity

Value of a brand generated by a favorable consumer experience with a product.

Draw up a team charter. Contribute your ideas. Never miss a meeting. Be considerate of each other. Create a process for resolving conflict. Use the strengths of each team member. Don't do all the work yourself. Set deadlines.

What are 8 ways to add value to and survive team projects in college?

internal communication external communication

What are the 2 different channels organizational communication flows?

formal communication network informal communication network

What are the 2 different networks organizational communication flows?

cultural barriers functional barriers

What are the 2 types of barriers to communication?

downward communication upward communication lateral (or horizontal) communication

What are the three communication flows?

Information gathered from research Knowledge gained from personal experience

What are the two sources that most entrepreneurial decision making can be improved?

Members become boosters (7 factors that make teams effective)

When each member is encouraged by other team members to do his or her best, collective results improve.

management agreement and disagreement (7 types of skills and behaviors that help team leaders influence their members and gain their trust)

When members agree with you, focus on your point of view and present it reasonably. When they disagree with you, acknowledge both sides of the issue and support your own with strong, clearly presented evidence.

discrepancy

When there's a ____________________ between what workers want in terms of salary increases, benefits, working conditions, and job security and what management is willing to give, the two sides engage in a process called collective bargaining. 1) If everything goes smoothly, a contract is soon put into place. 2) If negotiations break down, the sides may resort to mediation (in which an impartial third party makes recommendations for reaching an agreement) or arbitration (in which the third party imposes a binding agreement).

workers

When unionized _________________ feel that they've been treated unfairly, they can file grievances

present

When you ______________, dress professionally, connect with your audience, try to relax and pause before and after your main points for emphasis. Visual aids, such as PowerPoint slides, can aid your presentation if they are used properly.

skimming approach

With a new product, a company might consider the ________________ __________________—starting off with the highest price that keenly interested customers are willing to pay. This approach yields early profits but invites competition.

grow (product life cycle step 2)

With any success at all, it begins to _________, attracting more buyers

niche

Within a market segment, you might want to subdivide further to isolate a _______________, or unmet need.

brand

Word, letter, sound, or symbol that differentiates a product from similar products on the market.

trademark

Word, symbol, or other mark used to identify and legally protect a product from being copied.

telecommuting

Work arrangement in which the employee regularly works from home.

job sharing

Work arrangement in which two people share one full-time position.

don't do all the work yourself (8 ways to add value to and survive team projects in college)

Work with your team to get the work done. The project output is not as important as the experience of working in a team.

(10) tips for writing an e-mail

Write a meaningful subject line. Keep the message focused and readable. Avoid attachments. Identify yourself clearly in the first few lines. Be kind. Don't flame. Always think before hitting the "send" button. Proofread. Don't assume privacy. Distinguish between formal and informal situations. Respond promptly. Show respect and restraint.

market share

You can also examine published industry data to estimate the total market for products like yours and estimate your ______________ ______________, or portion of the targeted market.

demand

You can obtain helpful information about product ________________ by talking with people in similar businesses and potential customers.

patent

You can protect your rights to your idea with a _________________ from the U.S. Patent and Trademark Office. A _____________ grants you "the right to exclude others from making, using, offering for sale, or selling" the invention in the United States for twenty years.

plan

You should _________ your presentation based on your purpose and the knowledge level and interest of your audience.

close (3 section in preparing your presentation)

Your _________, which uses about 5 to 10 percent of your time, should leave the audience with a positive impression of you and your presentation.

opening (3 section in preparing your presentation)

Your _____________, which uses about 5-10 percent of your time, should grab your audience's attention.

attitudes (5 variables of psychological influences on buying behavior)

Your predisposition to respond in particular ways because of learned values and beliefs.

culture (4 factors of social influences on buying behavior)

Your set of accepted values.

unions

___________ have a pyramidal structure. At the bottom are locals, who serve workers in a particular geographical area. 1) Locals are usually organized into national unions that assist with local contract negotiations and negotiate industry-wide contracts. 2) Nationals may be linked by a labor federation, such as the AFL-CIO, which provides assistance to member unions and serves as the principal political organ for organized labor.

memos

______________ are effective at conveying fairly detailed information

marketing

_______________ isn't just advertising and selling. It includes everything that organizations do to satisfy customer needs: Coming up with a product and defining its features and benefits Setting its price Identifying its target market Making potential customers aware of it Getting people to buy it Delivering it to people who buy it Managing relationships with customers after it has been delivered

firms

________________ seek product ideas from people inside the organization, including those in marketing, sales, research, and manufacturing, as well as from customers and others outside the organization.

teamwork

_________________ brings diverse areas of expertise to bear on organizational problems and projects.

companies

_________________ build and support teams because of their effect on overall workplace performance, both organizational and individual.

employees

_________________ may receive year-end bonuses, participate in profit-sharing plans (which use predetermined formulas to distribute a share of company profits among employees), or receive stock options (which let them buy shares of company stock at set prices).

barriers

__________________ to communication include anything that prevents people from communicating as effectively as possible

entrepreneurship

______________________ is about carefully calculated risks, not unnecessary risks.

cost-based pricing

a company determines the cost of making a product and then sets a price by adding a profit to the cost.

team (work team)

a group of people with complementary skills who work together to achieve a specific goal. Members of a working group work independently and meet primarily to share information.

industry

a group of related businesses that do similar things and compete with each other.

breakeven analysis

a method of determining the level of sales at which the company will break even (have no profit or loss) to break even (have no profit or loss), total sales revenue must exactly equal all your expenses (both variable and fixed)

HRM (human resource management)

all of the actions that an organization takes to attract, develop, and retain quality employees

improvement of existing product

an enhancement of a product already on the market—for example, a change of ingredients and packaging for Mike & Ike's.

cultural barriers

are the barriers that result from differences among people of different cultures

functional barriers

arise when communication must flow among individuals or groups who work in different functional areas of an organization.

breakeven point in units

fixed costs ÷ contribution margin per unit

lateral (or horizontal) communication

flows across the organization, among personnel on the same level.

downward communication

flows from higher organizational levels (supervisors) to lower organizational levels (subordinates).

Decisions are more assured and cogent, and problem solving is faster. Warning signs of potential problems appear earlier. Workflow moves more smoothly and productivity increases. Business relationships are stronger. Marketing messages are more persuasive. The company's professional image is enhanced. Employee satisfaction goes up and turnover goes down. The firm and its investors enjoy better financial results.

businesses benefit in several ways when they're able to foster effective communication among employees. What are the 8 ways?

retailers

buy goods from producers and sell them to consumers, whether in stores, by phone, through direct mailings, or over the Internet.

upward communication

flows from lower to higher organizational levels.

psychographic segmentation

classifies consumers on the basis of individual lifestyles as they're reflected in people's interests, activities, attitudes, and values lifestyle variables (interests, activities, attitudes, and values)

odd-even pricing

companies set prices at such figures as $9.99 (an odd amount), counting on the common impression that it sounds cheaper than $10 (an even amount).

formal communication network

consists of all communications that flow along an organization's official lines of authority

fixed costs

costs that don't change when the amount of goods sold changes. For example, rent is a fixed cost.

motivation

describes an internally generated drive that propels people to achieve goals or pursue particular courses of action.

product concept

describes what the product might look like and how it might work

cross-functional teams

designed to take advantage of the special expertise of members drawn from different functional areas of the company.

(roles that team members play) task facilitating roles

direction giving information seeking information giving elaborating urging monitoring process analyzing reality testing enforcing summarizing

demographic segmentation

divides the market into groups based on such variables as age, marital status, gender, ethnic background, income, occupation, and education. age, gender, income, and so on

two-factor theory

divides work factors into motivation factors (those that are strong contributors to job satisfaction) and hygiene factors (those that, though not strong contributors to satisfaction, must be present to prevent job dissatisfaction). To increase satisfaction (and motivate someone to perform better), managers must address motivation factors.

geographic segmentation

dividing a market according to such variables as climate, region, and population density (urban, suburban, small-town, or rural)—is also quite common. region, climate, population density

behavioral segmentation

dividing consumers based by behavioral variables, such as attitude toward the product, user status, or usage rate receptiveness to technology, usage

(how to block teamwork) blocking strategy

dominate overanalyze stall remain passive overgeneralize find fault make premature decisions present opinions as facts pull rank resist deflect

ramp-up stage

employees are trained in the production process

distribution

entails all activities involved in getting the right quantity of a product to customers at the right time and at a reasonable cost.

prototype

physical models of the product

marketing environment

political and regulatory economic competitive technological social and cultural

equity theory

focuses on our perceptions of how fairly we're treated relative to others. This theory proposes that employees create contributions/rewards ratios that they compare to those of others. If they feel that their ratios are comparable to those of others, they'll perceive that they're being treated equitably.

virtual teams

geographically dispersed members interact electronically in the process of pursuing a common goal.

informal communication network (grapevine)

goes to work whenever two or more employees get together and start talking about the company and their jobs.

market

groups of customers

target costing

hey figure out how much consumers are willing to pay and then subtract a reasonable profit from this price to determine the amount that can be spent to make the product.

how to forecast hiring (and firing) needs

identify the human resources currently available in the organization forecast the human resources needed to achieve the organization's mission and objectives measure the gap between the two

publicity

involves getting the name of the company or its products mentioned in print or broadcast media. Form of promotion that focuses on getting a company or product mentioned in a newspaper, on TV, or in some other news media.

new-to-the-market

is a good or a service that has not been available to consumers or manufacturers in the past—for example, the PowerSki Jetboard.

new-to-the-company

is a good or a service that is new to the company but has been sold by a competitor in the past—for example, Peeps marshmallow Easter decorating kits.

extension of product line

is a new product developed as a variation of an already existing product—for example, Peeps chocolate eggs.

personal selling

is one-on-one communication with existing and potential customers.

advertising

is paid, nonpersonal communication designed to create awareness of a product or company.

internal communication

is shared by people at all levels within a company.

mass marketing

is the practice of sending out messages to a vast audience of anonymous people.

penetration pricing

marketers begin by charging a low price, both to keep out competition and to grab as much market share as possible.

demand-based pricing

marketers set the price that they think consumers will pay.

buying process

need recognition information search evaluation purchase post-purchase evaluation

external communication

occurs between parties inside a company and parties outside the company, such as suppliers, customers, and investors.

job description

outline of the duties and responsibilities of a person

market segments

smaller groups of customers with common characteristics that influence their buying decisions

product

something that can be marketed to customers because it provides them with a benefit and satisfies a need. Products can be goods or services or a combination of both.

(roles that team members play) relationship-building roles

supporting harmonizing tension relieving confronting energizing developing consensus building

5 key characteristics of work teams

teams are accountable for achieving specific common goals Teams function interdependently. Teams are stable. Teams have authority. Teams operate in a social context.

marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

motivation

the difficulty of maintaining a high level of _________________ is the chief cause of frustration among members of teams. As such, it's also a chief cause of ineffective teamwork, and that's one reason why more employers now look for the ability to develop and sustain motivation when they're hiring new managers.

contribution margin per unit

the excess revenue per unit over the variable cost per unit. selling price per unit less variable cost per unit

Designers must effectively communicate both ideas and practical specifications. The process usually succeeds only when the assigned team integrates input from every relevant area of the organization.

what are the two points about the way successful companies approach the challenge of new-product design and development?

plan prepare practice present

what is the 4 step process in preparing and delivering your presentation?

social media marketing

the practice of including social media as part of a company's marketing program.

strategic human resource planning

the process of developing a plan for satisfying an organization's human resources (HR) needs

physical distribution

the process of getting products from producers to customers—entails several interrelated activities: warehousing in either a storage warehouse or a distribution center, materials handling (physically moving products or components), and transportation (shipping goods from manufacturing facilities to resellers or customers).

recruiting

the process of identifying suitable candidates and encouraging them to apply for openings in the organization

communication

the process of transferring information from a sender to a receiver.

promotion mix

the ways in which marketers communicate with customers—includes all the tools for telling people about a product and persuading potential customers to buy it.

research

to ________________ an industry, you begin by studying the overall industry and then progressively narrow your search by looking at smaller sectors of the industry, including markets and market segments

size similarity success exclusiveness competition

what 5 factors contribute to team cohesiveness?

It's characterized by innovative products and/or practices. Its goals include profitability and growth. It focuses on new opportunities. Its owners are willing to take risks.

what are 4 characteristics of the entrepreneurial start-up?

Unwillingness to cooperate Lack of managerial support Failure of managers to delegate authority Failure of teams to cooperate

what are 4 common obstacles to team success?

Demonstrating integrity Being clear and consistent Generating positive energy Acknowledging common points of view Managing agreement and disagreement Encouraging and coaching Sharing information

what are 7 types of skills and behaviors that help team leaders influence their members and gain their trust?

Accomplishing its assigned task Maintaining or improving group cohesiveness

what are the 2 basic challenges that every team faces?

psychological influences social influences

what are the 2 things that influence buying behavior?

it's new (No one else can have known about it, used it, or written about it before you filed your patent application (so keep it to yourself until you've filed).) it's not obvious (It has to be sufficiently different from everything that's been used for the purpose in the past (you can't patent a new color for a cell phone).) it has utility (It can't be useless; it must have some value.)

what are the 3 criteria that an invention must meet to be patentable?

opening body close

what are the 3 section in preparing your presentation?

new-to-the-company improvement of existing product extension of product line new-to-the-market

what are the 4 categories of new product development?

family reference groups economic/social status culture

what are the 4 factors of social influences on buying behavior?

determine your total fixed costs identify your variable costs determine your contribution margin per unit calculate your breakeven point in units

what are the 4 steps to determine the level of sales at which breakeven will occur?

manager-led team self-managing team cross-functional team virtual teams

what are the 4 types of teams?

time utility place utility ownership utility form utility

what are the 4 types of utility or benefit products provide customers?

motivation perception learning atitudes personality

what are the 5 variables of psychological influences on buying behavior?

Members are interdependent. Members work better together than individually. Teams work well enough to satisfy members. Leadership rotates. Members help one another. Members become boosters. Members trust one another. (members depend on each other members trust one another members work better together than individually members become boosters team members enjoy being on the team leadership rotates)

what are the 7 factors that make teams effective?

evaluate opportunities and select the best product idea get feedback to refine the product concept make sure the product performs and appeals to consumers design with manufacturing in mind build and test prototypes ramp up production and run market tests launch the product

what are the 7 steps in the product development process?