BA 1301 - Exam 3

Salespeople typically use brainstorming to look for sales prospects, those people who are most likely to buy the seller's offerings.

False

Which of the following is NOT a typical task performed by a supply chain manager?

hiring packers and drivers

The equity theory is concerned with:

how fairly a worker is treated compared to coworkers

When planning _____ strategy, a manufacturer will deal with wholesalers and retailers.

place (distribution)

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

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

promotional mix

One of the keys to successful production planning is resource management. _____ is a system that would note how a possible strike in an Evanston, Indiana, plant will threaten supplies of a needed component part as well as how customer growing preference for time-saving devices such as the company markets and use this information in production planning.

Enterprise resource planning (ERP)

Employee ownership creates too much stress and is a poor motivator.

False

_____ is the gap between what is and what is required.

A need

Which of the following statements about Maslow's hierarchy of needs is true?

Maslow claimed an upper level of need was not activated until a lower level of need was satisfied.

The two types of distribution channels are: -industrial and consumer -wholesaler and retailer -centralized and decentralized -manufacturing and marketing -functional and networked

NOT centralized and decentralized (might be wholesaler and retailer)

_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.

Prestige

Fourteen million office workers in the US have their online activities under constant surveillance, according to the Denver-based Privacy Foundation. Worldwide, it reckons the number of employees under such surveillance totals around 27 million people. According to the foundation's Workplace Surveillance Project the low cost of snooping technology is the main reason why employers are employing a _____approach to management.

Theory X

Feedback is very important to the successful application of the goal-setting theory.

True

There are numerous office supplies manufacturers. U.S.-based Esselte concentrates on selling filing products and desktop products such as staplers and pen sets. Because the Esselte brand is recognized as an innovative leader in the development of filing products and desktop items, the company can be said to have a(n):

differential competitive advantage

Manufacturing resource planning II (MRPII):

generates production plans for the firm AND uses a complex computerized system to integrate data from many departments AND lets managers make more accurate forecasts than with older systems AND can assess the impact of production plans on company profitability ALL OF THE ABOVE

Given the trend toward employee empowerment in the workplace, more and more employees are finding the _____ theory useful.

goal-setting

Life Savers Gummies Fruit Splosions, liquid-filled gummies combined with a burst of real fruit juice, are a new product for The Wrigley Co.. Before marketing the product nationwide, Wrigley gave out samples of the candy at several rock concerts and then recorded consumers' feelings about the candy, its taste, and its name. In which stage of the new-product development process would this have happened?

test marketing

One useful tool for routing is _____, where production managers "map" the flow from suppliers through the factory to customers.

value-stream mapping

What is the primary difference between a merchant wholesaler and an agent?

whether it takes title to the product

Which of the following is a consumer durable?

bedroom dresser

Scientific management is based on economic incentives and the premise that there is "one best way" to perform any job.

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

Which of the following is NOT one of the current trends in business management today?

application of the expectancy theory

A(n) _____ are go-betweens that bring buyers and sellers together.

broker

As a believer in the Theory Y style of management, Stacey Lovett believes in all of the following EXCEPT:

constant and close supervision

Anton Sudavarian works as a receptionist for a medical clinic from 8 a.m. until 12 noon five days a week. At noon, he is replaced by Louise Cho who works at the same job from noon until 5 p.m. What kind of a work scheduling option is being used by Sudavarian and Cho?

job sharing

The maker of Centrum multivitamins introduced Centrum Silver, a vitamin designed specifically for older people. Centrum Silver is an example of a _____, a product that uses an existing brand name in an existing category but with a new formula.

line extension

A continuous production process has all of the following characteristics EXCEPT:

low volume

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

Many companies keep a continuously updated list of inventory levels, orders, sales, and receipts. This is called a(n) _____ inventory.

perpetual

Any communication or activity designed to win goodwill or prestige for a company or person is called:

public relations

Customer satisfaction:

refers to the customer's feeling that a product has met or exceeded expectations

A recent seminar on attracting retail customers addressed the following fact: "Time is on the mind of the consumer. If you ask anybody you know, 'Would you rather have an extra day off or an extra day's pay?' people in America would take the time off 2-to-1." This topic indicates that these retailers supported a need for more _____ segmentation to reach the time-poor consumer.

benefit

When Gene O'Hare went online to plan his vacation to Australia, he learned that he could buy plane tickets, rent a car, and pay for a hotel in a reduced-price tourist package, which made it very convenient for him to book his trip. The Web site O'Hare visited used _____ to make trip planning easier and more economical.

bundling

Business process management (BPM):

involves breaking a complex product, service, or process into smaller pieces that can be created independently and then combined quickly to make a whole

The two new-product pricing strategies most often used by marketers are:

price skimming and penetration pricing

Aldi is a no-frills grocery chain. It sells grocery staples right out of crates and boxes. By controlling expenses, Aldi customers can expect to save 30 to 50 percent compared to Kroger customers. The supermarket chain's emphasis on maintaining its cost competitive advantage means the company's top management is often concentrating on its _____ strategy.

pricing

A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of:

scientific management

Roger Wu has decided to buy a new Porsche. Since there are no Porsche dealers in his community, he must travel almost 200 miles to find a Porsche dealer to purchase the car of his dreams. For Wu, a Porsche is a _____ product.

specialty