Intro Business

Which of the following statements describes an advantage that personal selling has over other forms of promotion?

All of the above statements describe how personal selling is superior to other forms of promotion.

According to Maslow's hierarchy of need, the most basic needs are the social needs.

False

Equity theory is a theory of motivation that focuses on the link between motivation and organizational culture.

False

Low volume, short production runs, and high-variety production are characteristic of the continuous process.

False

One-to-one marketing is synonymous with database marketing.

False

The reason that Castle and Cooke processes and packages Dole pineapple products in Hawaii is more than likely because of low energy costs.

False

There are no significant differences between the consumer market and the business-to-business market.

False

_____ is the act of informing, persuading, and reminding the target market about a product.

Promotion

The goal of all promotion is to stimulate action.

True

The idea behind bundling is to reach a segment of the market that would not be reached as effectively if the product were sold separately.

True

Types of promotional goals include creating awareness, increasing the use of products, and identifying potential customers.

True

Which of the following factors will be important in the selection of a site for a production facility?

all of the above

Leon Georges works in the warehouse for a manufacturer of air-purification systems. He is responsible for the transportation of metal components, preformed plastic, etc. used to manufacture the systems as well as the efficient movement of the finished systems from the manufacturing facility to the warehouse to distribution trucks. Georges is involved in:

distribution

What do the United Way, the Sierra Club, the Girl Scouts of America, and the American Red Cross have in common?

All of the above statements describe ways in which the organizations are similar.

Synergy Oil and Gas builds oil-well drilling platforms to customer and government specifications. These platforms can cost as much as $1 billion. Synergy works on one platform at a time, and when it is finished, moves its crew to a new project. Synergy engages in:

customization

Channels of distribution make distribution easier by performing all of the following functions EXCEPT:

production

A CAD/CAM system is a(n):

production design and control system

The _____ is the combination of advertising, personal selling, sales promotion, and public relations used to promote a product.

promotional mix

According to expectancy theory, the probability of an individual acting a particular way depends on the strength of the individual's belief that:

the act will have a particular outcome and on whether the individual values that outcome

_____ are incentive programs based on group productivity. Employees share in the financial gains attributed to the increased productivity of their group.

Gain-sharing plans

_____ is the redesign of a job to provide workers with more authority, responsibility, challenge, and the opportunity for more personal achievement is called:

Job enrichment

Wes Johnston overheard his manager say, "Work is as natural as play, and workers seek more job responsibility." This statement supports:

Theory Y assumptions

_____ management emphasizes the use of quality principles in all aspects of a company's operations.

Total quality

A distribution channel is a series of marketing entities through which goods and services pass on their way from producers to end users.

True

A knowledge-based work force is qualitatively different from a skills-based work force.

True

A target market is a specific group of consumers toward whom a firm directs its marketing effort.

True

Agents are sales representatives for manufacturers or wholesalers and usually are hired on a commission basis.

True

Computer-aided manufacturing (CAM) uses computers to develop and control the production process.

True

Distribution strategy is another term for place strategy.

True

PERT charts differ from critical path method (CPM) in one important way. PERT charts _____, and the CPM does not.

assign three time estimates for each activity

An example of a convenience product is a:

bar of soap

Price is:

based on the expected value you will receive from your purchase

Roy Petrie is a flower wholesaler. He buys fresh flowers from countries in South America, divides the large batches into small bunches, and delivers them to independent florists. This process is called:

breaking bulk

An example of a provider of exceptional customer service is L.L. Bean, Inc. One of its employees actually drove 500 miles from Maine to New York to deliver a canoe to a customer who was leaving on a trip. The employee was able to perform this task with the support of L.L. Bean because the catalog retailer believes strongly in:

empowerment

What is the final step in the selling process?

following up on sales

Which goal are airlines trying to achieve when they use frequent flyer programs, which give customers points that can be redeemed for free travel, rental cars, and other merchandise?

increase the amount and frequency of use

A manufacturer that uses the intermittent process to produce special customer orders is called a:

job shop

Mazda once included a solar powered ventilation system on its cars. A solar panel on the roof powered a pair of fans near the trunk, which automatically turned on when the temperature in the car reached 90 degrees. Because customers were not willing to pay for this benefit and did not complain when it was no longer available, Mazda discontinued it. This is an example of:

lean manufacturing

After product specifications are set, a company must decide whether to purchase or manufacture the parts that it needs. This is called a(n) _____ decision.

make-or-buy

The _____ is based on the five P's.

marketing mix

Which of the following is NOT an example of a job satisfier?

salary and fringe benefits

Many rock and roll fans believe that Jimi Hendrix was the best guitarist ever and that he stretched his ability to the utmost. According to Maslow's theory of need, Hendrix more than likely satisfied his _____ need.

self-actualization

In Herzberg's model, which of the following would be an example of a hygiene factor?

supervision

Some of the quickest emergency assistance to victims of Hurricane Katrina did not come from the American Red Cross or FEMA. It came from Wal-Mart. Millions of people were displaced or otherwise affected by the Gulf Coast calamity. Many waited for days as agencies struggled to provide assistance. Wal-Mart moved faster than traditional emergency aid groups because the retail giant has mastered:

supply chain management

Human resources managers have yet to find any use for Maslow's hierarchy of needs.

False

With the goal-setting theory, managers have learned that easier goals motivate more effectively than challenging ones.

False

For most corporations, physical-distribution activities are usually the responsibility of the marketing department.

True

The just-in-time (JIT) system schedules arrival of inventory so that it can be used almost immediately and will not need to be stored on site.

True

The belief behind employee ownership is the idea that it will:

cause employees to act more like partners than clock watchers

Which of the following is NOT an element of the promotional mix?

distribution

Based on the expectancy theory, managers who want to motivate their employees should:

do all of the above

Crown Holdings Inc. manufactures a high-resolution, full color digital inkjet printed cans that allows smaller beverage producers to label the cans as they are needed to be filled rather than keeping a stock of preprinted cans. This is an example of how a beverage company could use:

just-in-time

Which of the following is the BEST example of process manufacturing?

lamb's wool

Which of the following is NOT an example of a convenience product?

lawn furniture

Rap star Xzibit has signed an endorsement deal with athletic footwear manufacturer Dada to produce shoes. The line named "Pimp Your Kicks," alluding to Xzibit's role as host of the MTV show Pimp My Ride, became available in late 2005. Dada hopes Xzibit will act as a(n) _____ and influence consumers to buy the shoes.

opinion leader

A pharmaceutical company with headquarters in India sells fluconazole, the generic version of Pfizer's anti-fungal drug Diflucan internationally for significantly less money than many U.S. generic drug manufacturers. The generic drugs industry in this country needs to rethink its _____ strategy to stay competitive.

pricing

Maria Manow is planning to sell handmade quilts over the Internet. As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs. At this point, Manow will be developing her _____ strategy.

pricing

A (n) _____ is any good or service that satisfies wants, along with its perceived attributes and benefits.

product

In August 2006, the manufacturer of Cross pens introduced the golden toned Verve pen as featured in the Stormbreaker film. In James Bond fashion, the Cross pen serves as one of the key gadgets in the film. The use of the Cross pen is an example of:

product placement

In 2006, The Home Depot launched its first consumer and business rewards credit cards. The Home Depot Rewards MasterCard and The Home Depot Business Rewards MasterCard allows consumers and business owners earn rewards for everyday purchases. The Home Depot is engaged in:

relationship marketing