MGMT 1 Questions (Ch 11-20)

_________ marketers include manufacturers, intermediaries, institutions, and the government

B2B

The banking panic of 1907 and the resulting cash shortage led to the formation of the:

Federal Reserve System

What provides help to ensure the smooth flow of money between nations?

International Monetary Fund

_____________ involve the Fed buying and selling U.S. government securities to increase or decrease the money supply

Open-market operations

A firm's marketing mix consists of 4 major components, which are generally referred to as the four:

P's

What government agency has responsibility for regulating the various stock exchanges in the U.S.?

SEC

________ advertising encourages wholesalers and retailers to carry the products of a specific manufacturer

Trade

What type of bonds are low risk, have guaranteed income, and are back by the full faith and credit of the federal government?

U.S. government bonds

An important difference between accounting and other business functions, is that:

accounting offers us insight into whether the business is financially sound

In an ___________ distribution system the producers manages all of the marketing functions at the retail level

administered

What are examples of external sources that human resources can use in their recruiting efforts?

advertisements, public and private employment agencies, and college placement bureaus

An ________ is oe type of marketing intermediary that brings together buyers and sellers and assists in negotiating an exchange, but does not take title to the goods

agent

In an ________________ an inexperiences worker learns by working alongside an experienced employee to master the skills and procedures on a craft

apprenticeship program

After preparing a job analysis, the next step in the human resource planning process is to:

assess future human resource demand

What are two of the five key working areas of the accounting profession?

auditing and managerial accounting

A ________ is a check of potential employee's work record, academic record, credit history, and recommendations

background investigation

The corporate certificate issued to an investor that has loaned money to the corporation or government is called a:

bond

What describes a word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors?

brand name

The approach step of the selling process attempts to:

build credibility and establish rapport

Long-term financing would normally be used to purchase:

buildings

What shows a firm's spending plans on fixed assets such as large equipment?

capital budget

Franchise systems are one type of __________ distribution system.

contractural

Businesses acquire long-term financing from two major sources:

debt financing and equity fianancing

The first step in the marketing research process is:

define the problem and determine the present situation

A firm that uses ___________ segmentation divides a market into groups based on age, income, or level of education

demographic

Designed to create more confidence in banking institutions, the FDIC was established:

during the Great Depression of the 1930's

An _________________ allows money to be exchanged electronically more quickly and more economically than with paper checks

electronic funds transfer system (EFT)

How does a skimming price strategy work?

establishing a high price in order to earn the highest possible profit while there is little competition

What are some responsibilities of public relations?

evaluate public attitudes, change policies and procedures in response to public requests, executes a program for public understanding and acceptance

Under the Federal Reserve Act of 1913:

federally chartered banks were required to join the Federal Reserve System

_____________ refers to the process that identifies variances by comparing actual revenues and expenses to projected revenues and expenses

financial control

A ____________ plan gives employees some ability to adjust hours when they work, as long as they work the required number of hours

flextime

When the value of the U.S. dollar increases relative to other currencies:

foreign goods become less expensive to U.S. consumers

McDonald's is an example of the _________ form of contractural distribution system

franchise

Expenses a firm incurs for insurance, office salaries, and rent are classified as:

general expenses on an income statement

A _______________ is a financial incentive a firm offers to encourage employees to accept an early retirement offer

golden handshake

Private investors benefit from securities markets primarily by:

having a place to buy and sell stocks and bonds

___________ brings raw materials, packaging, other goods and services, and information from suppliers and producers

inbound logistics

The balance sheet, the statement of cash flows, and the ________ are three key financial statements prepared by accountants

income statement

Which financial statement reports the company's revenues and selling costs over a period of time?

income statement

Which of the following is a benefit of a brand name for a seller?

increased repeat purchases

What is an example of a popular pricing objective?

increasing sales

____________ funds, mutual funds that invest in one particular kind of stock or a particular kind of bond, are good for new investors

index funds

Products that are used in the production of other goods and services are called:

industrial goods

When an organization uses advertising to create an attractive image for itself, this type of advertising is called:

institutional advertising

By the time of the Civil War, the U.S. banking system operated:

insufficiently with different banks issuing different types of currencies

Promotions and transfers are __________ sources available to human resource managers in their recruiting efforts

internal

What are the two written statements in a job analysis?

job description and job specification

In terms of the number and dollar volume of transactions, the B2B market is __________ the consumer market.

larger than

The financial ratios that measure a firm's ability to pay its short-term debts are called

liquidity ratios

Restaurants, like other businesses, often find that the best way to succeed in the market is to:

listen to customers and adapt products to their needs

___________ involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit

logistics

A _____________ forecast predicts the revenues, costs, and expenses a firm will incur for a period longer than one year

long-term

A major responsibility of the public relations department is to:

maintain close ties with the media, community leaders, government officials, and other stakeholders

Who represent several producers in a specific territory, as long as they do not represent competing products?

manufacturer's agents

What involves the analysis of markets to identify opportunities and challenges?

marketing research

How do people consider purchasing a good?

my evaluating and comparing a variety of factors

Pricing is:

one of the 4 P's of the marketing mix

Which of the following offers the greatest potential for meaningful interaction between buyers and sellers?

online advertising

One way a store selling high-def televisions might add ________ utility is to provide convenient delivery and set up to customers.

possession

A bond's face value is the same as its:

principal

____________ involves computer instructing that automatically sell stocks whose value has dropped by a predetermined amount

program trading

The use of promotional tools to persuade wholesalers and retailers to stock and sell merchandise represents a _________

push strategy

From the buyer's perspective, which of the following is a benefit of a product with a well-known brand name?

quality assurance

Consumer's decision-making process is influence by their _________, consisting of those people who help shape the consumer's beliefs, attitudes, values, or behavior

reference group

Historically, there was ____________________ a central bank in the U.S.

resistance to

A _________ is a marketing intermediary that sells to ultimate consumers

retailer

_________ consists of info that has already been researched by others and is published in journals or books, or has been made available online

secondary data

The trading of previously issued securities from one investor to another takes place in the _________ market

secondary market

A __________ forecast predicts the revenues, costs, and expenses a firm will incur for a period of one year or less

short-term

If a company secures a one-year bank loan it is considered _________

short-term financing

Firms establish a _____________ so that sufficient funds are available to repay bondholders on the maturity dat

sinking fund

What kind of pay rewards the growth of both the individual and team participation, despite the skills learned do not always translate into profits?

skill-based pay

A _________ provides a summary of cash coming into and money going out of a firm from operations activities, financing activities, and investing activities

statement of cash flows

Skilled professionals who are primary responsible for the development of strategies to minimize taxes are called:

tax accountants

A promissory note that requires the borrower to repay the loan in specified installments is called a:

term loan agreement

_____________ is a process used to test consumer reactions about a product among potential users

test marketing

One advantage of magazine advertising is that:

the ad can target specific audiences

Whether a consumer thinks a product provides the best value depends upon:

the consumer's perceptions

Why do advertisers lie online advertising?

they are able to see how many people have read or watched some part of an advertisement

Savings and loan associations are sometimes known as:

thrift institutions

One of the challenges of effective financial management is:

to have sufficient cash on hand without compromising the firm's investment potential

Although accounting has several specific uses, the overall purpose of accounting can be summarized as:

to provide financial information that is useful to decision makers

What kind of workers have a higher skill level than their current job requires

underemployed

Investment bankers ____________ new issues of bonds or stocks by purchasing, at a discount, the entire stock or bond issue of a firm and selling the issue to interested investors at a higher

underwrite

____________ goods and services represent those products that consumers are unaware of or haven't thought of buying

unsought

________________ firms provide financing to new or emerging companies with high profit potential. In return, these organization expect a share of ownership in the company

venture capital firms

Today's computerized accounting programs are:

very helpful for small-business owners who lack strong accounting support within their companies

________ marketing refers to such tactics as paying people to say good things about a product online

viral marketing

A _________ is a marketing intermediary that sells products to other organizations

wholesaler