Business Ch 10-16

As the new general manager at Backstreet Books, Chloe wants the sales associates to perceive her style as open and friendly. Which of the following would not be helpful to her cause? (12)

Adhere to two separate lunch rooms for discussion - one for managers and one for sales associates

According to Ailliam Ouchi, two of the main features of the Japanese approach to management are individual decision-making and rapid promotions.

False

According to equity theory, if employees perceive that their level of effort is greater than their compensation, they will work to increase their productivity.

False

Lisa is a Gen Xer who has just been promoted to a management position. If she is like many of her generation, one of Lisa's biggest problems is likely to be her inflexibility and difficulty at working collaboratively with other employees.

False

In the Legal Briefcase box titled, "The Million Woman Suit Against Walmart," women sued Walmart because of (24)

Hiring practices that include pay inequality and unfair promotion opportunities

At Hottie Potatee , the famous potato bar chain, the CEO, CFO, and COO are each paid a salary and stock options. As with other large, publicly traded companies, the strategy behind structuring executive compensation packages in this way is: (45)

It becomes an incentive because when profits go up, stock prices usually go up

According to business observers, which of the following is a reason for labor's decline? (39)

Labor's success in seeing issues it championed become law

Which of the following firms would be most likely to use a selective distribution strategy for its products? (79)

Maker of name brand men's suits

The leadership of _____ was instrumental in bringing about the merges between the America Federation and the Congress of Industrial Organizations in 1955. (40)

Samuel Gompers

Millie recently accepted a new job with better pay and a high degree of job security. She is now able to live in a nicer apartment and maintain a fairly comfortable lifestyle. However, she still feels like an "outsider" at work, and does not perceive that her fellow employees have accepted her into their group. According to Maxlow's theory, Millie is driven by her desire to satisfy her social needs.

True

Open communication strategies include the removal of physical barriers such as separate offices.

True

The activities of marketers depends on what needs to be done to satisfy customer wants and needs, in other words, helping buyers buy (46)

True

Theory Y managers adhere in the principle that most people do not work to their fullest intellectual potential.

True

When studying the differences in generations, it is fair to say that many ideas that each group shares resulted from common experiences during the first 10 years of life.

True

In Silicon Valley, California, it is not unusual for highly skilled employees to stay at one company for about three years. These specialized employees have a mind-set for rapid promotion. They believe that they only have themselves to blame if these high achievement standards do not occur. William Ouchi would categorize that management style (9)

Type A

The subject "Who pays for childcare when the parent(s) works?" is (44)

a controversial subject, with no legal resolutions to date

After completing his sales presentation, Jerald's client expressed her concerns and questioned some of the details of the sales proposal. An effective salesperson would: (96)

address her concerns and develop a better relationship

A _____ is a check of a potential employees work records, academic records, credit history, and recommendations (26)

background investigation

For many types of service organizations such as hospitals, banks and airlines, the primary cost of operations is: (30)

compensation of labor

Which of the following represents a technique used to obtain primary data? (57)

conducting personal interviews with potential customers

Understanding consumers in marketing is considered so important that a whole area of marketing called _____ emerged (60)

consumer behavior

Mallard's Department Store typically sells over a third of all its merchandise in the last two months of the year. Management has found that it must hire _____workers during this period of increased business to supplement its permanent employees (27)

contingent

Franchise systems are one type of __________ distribution system (81)

contractual

_____ warehouses are used to gather and redistribute products (84)

distribution

A firm's promotion mix consists of its pricing and distribution strategies (86)

false

A pick economy is a research term meaning the selection of global markets that a company randomly decides to target for its goods and services (93)

false

As the Internet grows in popularity, it is likely that more firms will adopt a high-low pricing strategy. (65)

false

Compared to effective comparative advertising, publicity is generally considered less believable (91)

false

Henry Hart supplies shelves of inexpensive plastic toys to grocery stores, supermarkets, and drug stores. He keeps title to the goods until they are sold and then splits the profits with the retailer. Henry works as a drop shipper. (72)

false

In recent years federal programs such as Medicare and Medicaid have greatly reduced the financial burden on families faced with caring for elderly adults. (37)

false

Magazine advertising main strengths are high visibility, repeat exposures, and basically very low cost. (89)

false

Marketers normally provide form, time, place, information and service utility, but they are seldom involved in providing possession utility (71)

false

Podcasting is a means of distributing audio and video programs but these programs can only be seen and heard using technology such as Apple iPod. (92)

false

Staff members from the human resource department seldom take part in initial screening interviews, but often participate in the follow-up interviews of top job candidates. (17)

false

The "employee at will" doctrine maintained that a firm could only fire a worker if it could demonstrate "just cause" (22)

false

The US legal system does not offer trademark protection. (63)

false

The most potent weapon currently available to management when collective bargaining breaks down is the use of yellow-dog contracts (33)

false

The reason that companies use the gain sharing pay system and the skill based pay system to compensate work of employees is that both are clearly tied to profit performance. (21)

false

Loundes Enterprises loads its products into truck trailers, then loads the trailers onto ships to transport long distances. Once the ship reaches the port nearest the final destination, the trailers are unloaded and boarded to their final destination by truck. Loundes' practice of transporting truck trailers on ships is known as (85)

fishyback

Sales levels of Armstrong mountain bikes are rising rapidly, proFts are very high, and a growing number of competitors are taking aim at Armstrong's market lead. Based on this information, Armstrong mountain bikes are in which stage of the product life cycle? (69)

growth

Marketing intermediaries: (76)

have survived because they can often perform marketing functions faster and at lower cost than producers

One of the social trends that marketers must monitor to maintain their close relationship with customers is the (58)

increases in the number of older Americans

Promotions and transfers are _____ sources available to human resource managers in their recruiting efforts. (25)

internal

Once a good or service nears the end of its product life cycle, the firm recognizes that: (68)

it can return to an earlier stage through creative marketing

Mall owners like to have __________ located along the walkways of their malls, because they create a marketplace type of atmosphere. (80)

kiosks

The presence of formal labor organizations in the US dates back to the (38)

late 1700s

Dane works as a sales representative for the Better Butter Company. He is about to meet with his manager to review his progress toward meeting the sales objectives they agreed to at the beginning of the year. Dane likes the fact that managers at Better Butter listen to their subordinates' ideas and get everyone involved in setting goals and objectives. Dane's experience suggests that Better Butter is utilizing: (10)

management by objectives (MBO)

_____ is the process of training and educating employees to become good managers and then monitoring the progress of their managerial skills over time. (29)

management development

Which of the following terms involves the analysis of markets to identify opportunities and challenges? (56)

marketing research

Independent producers can create self-published syndicated "radio shows" using (100)

podcasting

Marketing intermediaries can provide _________ utility by offering customers affordable credit, free delivery, and product guarantees (78)

possession

The business philosophy of "produce as much as you can because there is a limitless market" is correlated with which of the following marketing areas? (54)

production era

The explosion of the BP oil rig and subsequent oil spill in the Gulf of Mexico was on the of the worst disasters affecting the US in this century. There was a tremendous loss of sea life. Commercial fishermen and other businesses suffered from the loss of trade. After the massive disaster and tragedy, Tony Hayward, the CEO of BP, offended many people when he was quoted in several newspapers saying, "I would like my life back." Sadly BP did not solicit the promotion. Marketers refer to this type of message as _____, a unpaid form of promotion. (97)

publicity

One way traditional retailers have maintained customers in the face of increasing competition from online sellers and other direct markers is to place more emphasis on providing _________ utility. (77)

service

As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which of the following? (55)

setting a price for the light Fxtures her Frm produces

As reported on NPR online feed: A 1981 self-portrait of celebrated photographer Cindy Sherman sold at a Christie's auction in 2011 for just short of $4 million dollars. According to Christie's, this was the highest price ever received for a photograph in the history of the auction business. As a student of marketing, you would classify this photo and other rare items sold through Christie's as ____________. (67)

specialty goods

_____ marketing is the marketing of products to groups of customers a firm decides it can serve profitability (59)

target

The strategy of first determining what the market is willing to pay, then subtracting a desired profit margin to determine a desired cost of production is called (70)

target costing

Future promotional efforts will likely be (94)

targeted at larger audiences

To generate enthusiasm about a good or service, sales promotion: (98)

targets groups internally and externally

Sweet Dream Confectioners uses the same ingredients as most other producers of chocolate candies. In fact, taste tests suggest that the candy itself, while quite good, isn't much better than other well-known brands of chocolate. However, the company wraps its candies in expensive looking foil and places them in very attractive boxes. It promotes its products in advertisements as "the ultimate in chocolate experience." Sweet Dream charges a much higher price than most competitors, but sales continue to grow. This success indicates that: (66)

there is more to the total product o±er than the physical product.

A major advantage of direct marketing is that it is a very convenient way for consumers to shop (74)

true

A trademark is a brand that has been given exclusive legal protection for both the brand name and the pictorial design. (62)

true

Advertising helps to cover the production costs of newspapers and magazines (87)

true

Brand names can significantly impact consumer perceptions of a product. (61)

true

Business-to-business markets tend to be geographically concentrated (53)

true

Consumer behavior is influenced by the attitudes, values, and ways of doing things that are passed from one generation to the next (52)

true

Direct mail, broadcast and cable television, and newspapers are the top three advertising by total expenditures. (88)

true

Event sponsorship like the FedEx Orange Bowl football game helps improve brand awareness. (64)

true

It is not unusual to find persons with a wide variety of skills and skill levels serving as contingent workers. Contingent workers in the US are usually under 25 years of age and may include independent contractors, middle management positions, and even college students who only want to work during the summer months. (19)

true

Marketing manager Sam Woodall has worked for Family Care Pharmaceuticals for 36 years. He fondly remembers the 'good ole days' when he could fire a worker for just about any reason. He feels that today's laws and regulations limiting his ability to fire workers undermines his authority and forces him to keep employees that don't measure up to his standards. Sam's views suggest he would favor working in a state that implements the policy of "employment at will." (23)

true

Part-time workers, seasonal workers, and independent contractors are all examples of contingent workers. (18)

true

Several years ago, Drew's company sent him to Massachusetts Institute of Technology for an intensive program of leadership and business communication training. Although expensive, the firm was committed to investing in the development of key employees for the purpose of retention and promotion. This type of managerial development is known as off-the-job courses and training. (20)

true

When advertising in global markets it is important to remember that brand names and campaigns can often be translated differently from what the marketer attempts to say. (90)

true

_____ refers to such tactics as paying people to say good things about a product on the Internet or setting up multilevel selling schemes that reward people for directing their friends to a company's website. (99)

viral marketing

Millie Woods owns and operates a World of Food grocery store. Although her store is independently owned and operated, she has signed an agreement with over seventy stores in the Midwest to use a common name, participate in chain promotions, and cooperate with other stores in the chain. Millie;s store is part of a(n) (83)

wholesaler-sponsored chain

As a contemporary manager, your employees will be motivated to provide you with important feedback if: (11)

you solicit open-ended responses from your employees.