Chapter 9-12

The salary of a supervisor in the shipping department would be a(n) _______ cost for a bicycle manufacturer, whereas shipping costs would be a(n) ______ cost. A. fixed; variable B. expense; capital C. capital; variable D. production; expense E. variable; fixed

A. fixed; variable

599fashion.com is an online clothing outlet store that offers all its clothing, apparel, jewelry, and accessories for the same price—$5.99, although some items may be on sale for even less. This BEST exemplifies the strategy of _______. A. price lining B. penetration pricing C. psychological pricing D. price skimming E. a bundling strategy

A. price lining

_______ identifies the sales volume where total costs equal total revenues by assessing costs versus revenues at various sales volumes and showing, at any particular selling price, the amount of loss or profit for each volume of sales. A. Profit B. Breakeven analysis C. Total cost D. Revenue E. Cost-oriented pricing

B. Breakeven analysis

If you buy a single ticket to one performance of the Philharmonic Pops Series, you will pay $69. However, if you buy tickets to the entire series, tickets only cost $52. This is an example of _______. A. psychological pricing B. a bundling strategy C. target marketing D. penetration pricing E. dynamic pricing

B. a bundling strategy

The use of words, symbols, or designs to identify and differentiate a product from other products and communicate its qualities to buyers is known as _______. A. product adaptation B. branding C. bundling D. the value package E. licensing

B. branding

When VCRs were introduced in the mid-1970s, they were priced at $900 and above. As more competitors and new technology entered the market, the price dropped dramatically. The introductory price of $900 is an example of _______. A. bundling B. price skimming C. dynamic pricing D. psychological pricing E. penetration pricing

B. price skimming

What company comes to mind when you think of getting a hamburger and fries quickly? For many people, McDonald's has the necessary _______. A. product placement B. product line C. brand awareness D. product extension E. packaging

C. brand awareness

If allegations of dumping are proven, international law allows the country whose businesses are affected to impose penalties called _______ on products coming from those countries found guilty. A. price lining B. bundling C. variable costs D. countervailing duties E. price skimming

D. countervailing duties

As a result of loss of profits and market share, Kodak quit marketing traditional film cameras in the United States in 2004. In 2012, the company announced it would stop making its newer line of digital cameras, too, because of low profits. In the stages of the product life cycle, Kodak's digital camera is in the stage of _______. A. introduction B. growth C. maturity D. decline E. product adaptation

D. decline

Procter & Gamble bought Revlon's Max Factor and Betrix cosmetics, both of which have distribution and marketing networks in foreign markets. Many companies have avoided time delays by buying existing businesses with already-established marketing networks. This example shows that _______ methods used in the United States do not always fit in international markets. A. promotion B. small-business pricing C. discounting D. distribution E. product placement

D. distribution

Passive nondiscrimination, required by both the Age Discrimination in Employment Act and Title VII of the Civil Rights Act of 1964, is also known as _______. A. quid pro quo discrimination B. adverse impact C. employment at will D. equal employment opportunity E. affirmative action

D. equal employment opportunity

Della's Gourmet Cupcakes creates _______ utility by combining flour, eggs, sugar, cocoa, nuts, and numerous other ingredients into delectable cupcakes. A. task B. time C. possession D. form E. place

D. form

The _______ of a product refers to its comparative benefits versus costs. A. pricing B. geo-demographic variables C. utility D. value E. brand loyalty

D. value

Marianne wants to fill a new position in the firm with an internal candidate. Which of the following methods would she MOST likely to use in order to do so? A. Advertising the position in the local newspaper B. Hiring an employment agency C. Posting the job on Monster.com D. Holding campus interviews for potential college recruits E. Asking managers to recommend employees

E. Asking managers to recommend employees

After her recent chat session with technical support at Apple Inc., Jennifer received an e-mail asking her to rate the chat session, rate the technician, and state whether the problem had been solved. What form of marketing research is Apple Inc. using? A. Observation B. Focus group C. Experimentation D. Interview E. Surveys

E. Surveys

When management and the union could not come to an agreement on the terms of the labor contract, they agreed to bring in a third party who heard both sides of the dispute and rendered a binding judgment. This process is referred to as _______. A. conciliation B. mediation C. collective bargaining D. a boycott E. arbitration

E. arbitration

Research on gender and leadership has shown one difference that has arisen in some cases is that women may be slightly more democratic in making decisions, whereas men have a tendency to be somewhat more ______. A. empathetic B. supportive C. inclusive D. nurturing E. autocratic

E. autocratic

When a teacher in France was killed by a jihadist in 2020 for showing his students disrespectful cartoons of the the prophet Mohammed, the president of France spoke out against this terrorist act. In retaliation, the president of Turkey called these remarks Islamaphobic and called for a complete_______of all French products. A. strike B. picketing C. compensation D. lockout E. boycott

E. boycott

You buy the same Lavazza brand of coffee as your friends to feel accepted in a certain group. This is an example of a(n) _______ motive. A. logical B. objective C. rational D. cultural E. emotional

E. emotional

The characteristics of the B2B buyers include all of the following EXCEPT _______. A. buy in bulk B. conduct half the amount of business that is in the consumer market C. create long-term buyer-seller relationships D. are trained experts E. negotiate purchase terms

B. conduct half the amount of business that is in the consumer market

Jet fuel used by airline services is an example of a(n) ________. A. capital service B. production item C. shopping good D. consumer good E. expense item

B. production item

_______ including ranking and rating techniques, are the most common way to measure performance. A. Graphic rating scales B. Attitudes C. Objective performance measures D. Judgmental methods E. Outputs

D. Judgmental methods

The _______ strengthened unions by establishing union organization procedures, whereas the _______ limited union power and specified management rights during the organizing campaign. A. National Labor Relations Act; Labor-Management Relations Act B. Fair Labor Standards Act; National Labor Relations Act C. Civil Rights Act; Fair Labor Standards Act D. Labor-Management Relations Act; National Labor Relations Act E. Labor-Management Relations Act; Taft-Hartley Act

A. National Labor Relations Act; Labor-Management Relations Act

Which of the following is the BEST description of industrial goods? A. Physical items used by companies to produce other goods or services B. Tangible goods purchased by consumers for personal use C. Finished goods that are bought by intermediaries and sold to other companies or consumers D. Products with intangible (nonphysical) features E. Goods that have been completed in the manufacturing process but have not yet been sold or distributed to the end user

A. Physical items used by companies to produce other goods or services

Which of the following factors determines whether a product is characterized as a consumer good or an industrial good? A. The end user of the product B. Whether it is sold by the manufacturer or an intermediary such as a retailer C. Whether the item is used or new D. The price of the product E. Whether the product is tangible or intangible

A. The end user of the product

______ is a series of stages in a product's commercial life. A. The product life cycle B. Prototype development C. Screening D. Commercialization E. Concept testing

A. The product life cycle

The ability to punish a subordinate is associated with _______ power. A. coercive B. expert C. informational D. referent E. reward

A. coercive

E*TRADE offers online financial investing and trading services, retirement planning, and educational resources. This is an example of a(n) _______. A. product mix B. expense item C. specialty good D. diversified product line E. capital item

A. product mix

As a leading distributor of parts and accessories for the pleasure boat market, Texas Boats buys lights, steering wheels, and propellers and markets them to marinas and boat-repair shops. Texas Boats is part of the ________ market. A. reseller B. services company C. government D. institutional E. consumer

A. reseller

During the 2020 COVID-19 pandemic, many organizations quickly developed and adopted new ways of delivering services to customers. For instance, restaurants that had previously been dine-in only offered curbside pickup and/or home delivery. This is an example of _______. A. service process design B. test marketing C. concept testing D. commercialization E. product testing

A. service process design

Examples of _________include unwelcome actions like repeated compliments of an employee's appearance, commenting on the attractiveness of others in front of an employee, and sending sexually suggestive text messages or emails. A. sexual harassment B. adverse impact C. affirmative action D. employment equal opportunity E. employment at will

A. sexual harassment

Managers who use this style develop a structured workplace with clearly defined priorities and schedules. This is an example of a(n) _______ leadership. A. task-focused B. supportive C. participative D. employee-focused E. transformational

A. task-focused

As president-elect of the board of directors of a global not-for-profit, you have been tasked with creating a performance appraisal policy so that the board can assess the effectiveness of upper management. Which would be your BEST choice? A. Ranking B. 360-degree-feedback C. SWOT analysis D. Formal performance reports performed by the Executive Director E. Feedback interviews

B. 360-degree-feedback

On your most recent performance evaluation, you scored highly on your abilities to control situations, direct work, supervise people, monitor performance, make decisions, and structure activities. In order to be a more effective leader in your company, which attribute would be BEST to focus on developing? A. Observing B. Coaching C. Micro-managing D. Oversight E. Controlling

B. Coaching

Christina has been shopping for a new car for several weeks. She narrowed her selection down to a few models, and has been doing extensive research on the Internet to determine which car would be the best match for her in terms of price, gas mileage, features, and so on. Which stage of the consumer buying process does this BEST represent? A. Problem or need recognition B. Evaluation of alternatives C. Purchase decision D. Postpurchase evaluation E. Information seeking

B. Evaluation of alternatives

Which law sets a minimum wage and requires the payment of overtime rates for work in excess of 40 hours per week.? A. Family and Medical Leave Act (FMLA) of 1993 B. Fair Labor Standards Act C. Occupational Safety and Health Act (OSHA) D. Civil Rights Act of 1991 E. Americans with Disabilities Act

B. Fair Labor Standards Act

Catherine is the manager of a hair salon. In order to increase sales, she decided to offer a customer discount on a haircut and color. At the end of the quarter, she reviews sales data to determine how successful her decision was. Which step in the rational decision-making process does this represent? A. Implementing the chosen alternative B. Following up and evaluating the results C. Recognizing and defining the decision situation D. Identifying alternatives E. Selecting the best alternative

B. Following up and evaluating the results

Which of the following laws contains the National Emergency Strike provision, which allows the president of the United States to prevent or end a strike that endangers national security? A. Fair Labor Standards Act B. Labor-Management Relations Act/The Taft Hartley Act C. Labor-Management Reporting and Disclosure Act D. Title VII of the Civil Rights Act E. National Labor Relations Act

B. Labor-Management Relations Act/The Taft Hartley Act

Pascal is the sales manager of a large car dealership. He wants to increase sales significantly over the next quarter, and after talking with his staff and giving the matter some thought, he decides that offering a customer rebate on new vehicles is the best strategy to achieve this. What decision-making condition does this BEST describe? A. State of risk B. State of uncertainty C. State of substitutability D. State of probability E. State of certainty

B. State of uncertainty

_______is legally required insurance for compensating workers injured on the job. A. 360-degree feedback B. Workers' compensation insurance C. On-the-job training D. A cafeteria benefits plan E. Vestibule training

B. Workers' compensation insurance

At Medical Center Hospital, the surgery department orders masks and gloves for employees every quarter or when the supply reaches the 25 percent level. This is an example of ______. A. escalation of commitment B. a programmed decision C. intuition D. a nonprogrammed decision E. risk propensity

B. a programmed decision

Viral marketing is effective because of all of the following EXCEPT _______. A. social media is changing consumer behavior B. career opportunities in social media positions have declined C. people no longer rely on newspapers, magazines, and television for information D. people rely on online media for information E. social media is changing the marketing practices of businesses

B. career opportunities in social media positions have declined

Avi was late returning from lunch for the second time in a week. His boss sent him home without pay for the remainder of the day. This is an example of _______ power. A. reward B. coercive C. referent D. informational E. expert

B. coercive

European leaders must often be aggressive, and meetings are frequently characterized by loud verbal exchanges and arguments. In Japan, emphasis is put on consensus building and polite exchanges of dialogue. This example shows that _______ play a growing role in organizations as their workforces become more diverse. A. performance factors B. cross-cultural factors C. leadership substitutes D. ethical factors E. leadership neutralizers

B. cross-cultural factors

According to the _______ approach to leadership, there are rules for deciding how much participation to allow. A. supportive B. decision tree C. achievement-oriented D. participative E. transactional

B. decision tree

A(n) _______ is a written statement of the skills, abilities, qualifications, and credentials that an individual needs in order to perform a given job effectively. A. job description B. job specification C. performance appraisal D. job analysis E. skills inventory

B. job specification

The type of power that a person in an organization has when s/he has control over employees in lower positions or levels within the organization is known as _______ power. A. reward B. legitimate C. referent D. expert E. informational

B. legitimate

Title VII of the Civil Rights Act of 1964 ________. A. requires that employers pay a minimum wage and overtime rates for work in excess of 40 hours per week B. prohibits discrimination in employment based on race, color, gender, religion, or national origin C. requires that employers establish employment goals for underrepresented groups and how those goals will be met D. requires that men and women be paid the same amount for doing the same job E. mandates the provision of safe working conditions

B. prohibits discrimination in employment based on race, color, gender, religion, or national origin

Research that investigated what behaviors were employed by effective leaders suggested that there are two types of leader behaviors: _______ and _______ behavior. A. programmed; nonprogrammed B. task-focused; employee-focused C. situational; static D. transactional; transformational E. ethical; unethical

B. task-focused; employee-focused

Donald Trump's successful bid for the U.S. presidency was fueled by many people's perceptions that he was both a transformational and charismatic leader. He talked about the need to change issues such as health care, immigration, and foreign policy. A transformational leader exhibits _______. A. empathy B. vision, dedication, and perseverance C. the ability to manage routine, regimented activities D. a strong desire to influence people E. confidence in your beliefs and ideals

B. vision, dedication, and perseverance

Which of the following would be characterized as an individual factor that serves as a leadership neutralizer? A. Work rules and procedures are explicitly documented, and employees are required to follow them to a "t". B. Tammi's work group is extremely cohesive and high achieving. C. Ana has more experience in electrical engineering than her supervisor, along with an advanced degree in her field. D. Annual salary increases are based on seniority and are unrelated to performance. E. Rowena's supervisor is located at another branch of the bank and seldom has the opportunity to observe Rowena's performance.

C. Ana has more experience in electrical engineering than her supervisor, along with an advanced degree in her field.

The Federal Reserve System suddenly raises the federal discount rate, resulting in significantly higher interest rates for consumers and businesses that want to purchase property, vehicles, machinery, or other items on credit. Which factor in the firm's external environment does this BEST reflect? A. Competitive environment B. Sociocultural environment C. Economic environment D. Political-legal environment E. Demographic environment

C. Economic environment

Participants in a marketing research study are given a sum of money to purchase products in a simulated store. Researchers then change the shelf location of the product to determine what effect it has on sales volume. What form of marketing research are the researchers using? A. Focus group B. Secondary data C. Experimentation D. Surveys E. Observation

C. Experimentation

Which of the following would be considered a source of primary data? A. Industry sales data B. Survey data conducted by a trade association C. Focus group interviews D. Published market research report E. U.S. Census Bureau population census

C. Focus group interviews

_______are special pay programs designed to motivate high performance. Some programs are available to individuals, whereas others are distributed on a companywide basis. A. Profit-sharing plans B. Benefits C. Incentive programs D. Pay-for-knowledge plans E. Gain plans

C. Incentive programs

Which of the following is a key element of customer relationship management? A. Offer as wide a variety of goods as possible so that customers always have multiple choices. B. Create features or images that differentiate your product from existing products in order to attract more customers. C. Learn as much as possible about your customers so that you know what they want and will buy. D. Price products as low as possible so that customers do not turn to competitors' products. E. Focus on single transactions for products and services in order to build a broader customer base.

C. Learn as much as possible about your customers so that you know what they want and will buy.

Which of the following is NOT a B2B market? A. Reseller market B. Industrial market C. Mercantile market D. Services companies market E. Institutional market

C. Mercantile market

Farah makes it a practice to consult with her staff before making major decisions that affect the department. She believes it is important to consider their concerns and process their inputs. According to the path-goal theory, what type of leader behavior does Farah display? A. Supportive B. Achievement-oriented C. Participative D. Transactional E. Directive

C. Participative

A producer of camping gear, such as tents, sleeping bags, and camp stoves, has identified its target market as outdoor adventurers or enthusiasts. Which type of variable does this reflect in segmenting the market? A. Sociocultural B. Behavioral C. Psychographic D. Demographic E. Geographic

C. Psychographic

You have visited every bridal shop in town to find the best wedding gown and tuxedo. You consider this purchase to be very important. What type of product is this? A. Shopping good B. Capital good C. Specialty good D. Expense item E. Convenience good

C. Specialty good

________reflects the view that the people in an organization represent a portfolio of valuable skills that can be effectively managed and tapped in ways best targeted to organizational success. A. Job analysis B. Human resources C. Talent management D. Human capital E. External supply

C. Talent management

_______ focuses on the leader and not on how he or she responds to the followers or the situation. It assumes that it is the leader and his/her personality that are central to the leadership process. A. Transactional leadership B. Behavioral approach C. Trait approach D. Virtual leadership E. Path-goal theory

C. Trait approach

_______ is a form of marketing that focuses on spreading information and opinions about a product or service from person to person, often through e-mail or social media sites. A. Integrated marketing B. Target marketing C. Viral marketing D. Customer relationship management E. Relationship marketing

C. Viral marketing

Marketing research conducted by a consumer products producer reveals that some consumers buy toothpaste to whiten their teeth, whereas others buy it because it freshens their breath, makes their teeth less sensitive to heat and/or cold, or even because it has a certain flavor. If the company decided to segment the market based upon this data, it would be using _______ segmentation. A. psychographic B. demographic C. behavioral D. sociocultural E. demographic

C. behavioral

Market segmentation is BEST described as _______. A. the process of fixing, adapting, and communicating the nature of the product itself B. the study of customers' needs and wants and how best to meet those needs and wants C. dividing a broader market into subsets of customer types having similar needs, interests, and priorities D. creating features or images that make a product different from existing products in order to attract customers E. identifying the planned marketing activities that a business will use to achieve its marketing goals

C. dividing a broader market into subsets of customer types having similar needs, interests, and priorities

Véronique is a "people person" when it comes to managing her department. She is friendly and approachable and strives to make the workplace a happy, pleasant environment. This BEST describes _______ leader behavior. A. task-focused B. transactional C. employee-focused D. transformational E. virtual

C. employee-focused

In the wake of scandals at Boeing, Wells Fargo, Volkswagen, Toshiba, and Walmart, business leaders are being called on to maintain high standards for their conduct, and to hold others in their organizations to the same standards—in short, to practice _______ leadership. A. virtual B. charismatic C. ethical D. strategic E. cross-cultural

C. ethical

The major influences on consumer behavior include all the following EXCEPT _______. A. cultural B. personal C. experimental D. social E. psychological

C. experimental

A doctor has power over his patients when they go to visit him. Why? Because on the subject of health and wellness, doctors are considered to have special training and knowledge. This is an example of _______ power in the field of medicine. A. legitimate B. coercive C. expert D. referent E. reward

C. expert

The design for the newest iPhone offers more new features than previous models to keep on top in the increasingly competitive smartphone market. This is an example of which component of the marketing mix? A. pricing B. promotion C. product D. place E. political

C. product

To coincide with the release of the 2020 Disney movie Mulan, Burger King offered a Mulan hamburger kids meal featuring a dozen different Mulan toys, along with a new flavor of yogurt that featured Mulan on the packaging. This is an example of _______. A. relationship marketing B. personal selling C. sales promotions D. public relations E. data mining

C. sales promotions

Chase Bank, Proctor & Gamble, Costco, and Samsung use corporate blogs increasingly for public relations, branding, and otherwise spreading messages that stimulate chat about products in target marketing. This is an example of _______. A. public relations B. product placement C. social networking media D. buyer-seller relationships E. advertising

C. social networking media

Telecommuting surged during the 2020 COVID-19 pandemic as people were either encouraged or required to work remotely. Some firms felt that remote work was so effective that it would become permanent. This new working environment is an example of_______. A. positive reinforcement B. strategic leadership C. virtual leadership D. intuition E. risk propensity

C. virtual leadership

______ automates the massive analysis of data by using computer software to sift, sort, and search for previously undiscovered clues about what customers look at and react to and how they might be influenced. A. Primary data B. Integrated marketing strategy C. Product differentiation D. Data mining E. Form utility

D. Data mining

Your company has entered into a five-year lease for a building for your business, but it now looks as if it will cost up to half a million dollars to bring the facility up to code and to your operating standards. Rather than attempting to break the lease and find a better location, the facilities committee is focusing on trying to salvage this deal, even though it looks like a bad decision. Which is the MOST LIKELY behavioral aspect you are facing? A. Programmed decision making B. Risk propensity C. Political pressure D. Escalation of commitment E. Risk aversion

D. Escalation of commitment

A state passes a law requiring major appliances sold in the state to meet energy consumption standards. Which factor in the firm's external environment does this BEST reflect? A. Competitive environment B. Sociocultural environment C. Economic environment D. Political-legal environment E. Technological environment

D. Political-legal environment

A nationwide fast-food restaurant is considering adding an innovative new item to its menu. It introduces the item at a few carefully selected restaurants that most accurately represent its test market and carefully evaluate consumers' reaction to it. Which stage of the product development process does this BEST represent? A. Concept testing B. Business analysis C. Prototype development D. Product testing and test marketing E. Commercialization

D. Product testing and test marketing

_______ is the process of attracting qualified persons to apply for jobs an organization is seeking to fill. A. Performance appraisal B. Employee selection C. Employee development D. Recruiting E. Job analysis

D. Recruiting

Annabelle is preparing a graph that lists all key managerial positions in the organization, the current job holders, how long those individuals are expected to remain in the job before being promoted or retiring, and individuals in the organization who are now qualified or will soon be qualified to be promoted into those positions. Which of the following is Annabelle preparing? A. Talent management identification system B. Performance appraisal C. Job analysis D. Replacement chart E. Job specification

D. Replacement chart

In the past, the only benefit you have offered your employees has been a cafeteria benefits plan. In establishing a new employee compensation system, which would be the MOST likely incentive that you could offer to improve retention? A. Social Security B. Federal income tax withholding C. Overtime D. Retirement benefits E. Worker's compensation

D. Retirement benefits

_______is a leader's ability to understand the complexities of both the organization and its environment and to lead change in the organization so as to enhance its competitiveness. A. Escalation of commitment B. Collectivism C. Risk propensity D. Strategic leadership E. Intuition

D. Strategic leadership

Which of the following is the BEST description of leadership? A. Informal and unofficial efforts to sell ideas, influence an organization, or increase power B. The ability to affect the behavior of others C. To cause someone to do something through reasoning or argument D. The processes and behaviors used to motivate, inspire, and influence others' behavior toward achievement of organizational goals E. The practice of persuading someone to do something by using force or threats

D. The processes and behaviors used to motivate, inspire, and influence others' behavior toward achievement of organizational goals

Which of the following statements about contingent workers is true? A. The use of contingent workers is decreasing due to increased legislation. B. Part-time employees are not classified as contingent workers. C. Contingent workers exhibit the same degree of organizational commitment as permanent employees. D. The use of contingent workers is growing as employers seek to lower labor and benefits costs and increase workforce flexibility. E. Employers are required to provide the same level of pay and benefits to contingent employees as they provide to their permanent workforce.

D. The use of contingent workers is growing as employers seek to lower labor and benefits costs and increase workforce flexibility.

Which of the following statements BEST describes the current state of labor unions in the United States? A. Labor unions are stronger in the South and Southwest U.S. than in the North and Midwest regions. B. Most of the growth in union membership over the past 20 years has come from goods-producing industries. C. Union membership has remained relatively unchanged since World War II. D. Union membership has declined significantly over the past 20 years. E. Union membership has risen steadily over the past 20 years.

D. Union membership has declined significantly over the past 20 years.

A decision that has a "ready-made" solution because it has been evaluated and resolved in the past is known as _______. A. risk propensity B. a nonprogrammed decision C. the gambler's bias D. a programmed decision E. state of uncertainty

D. a programmed decision

You want to buy a can of Lysol spray disinfectant, but the grocery store shelves are empty. You buy the Clorox brand of spray disinfectant because it is the only one available This is an example of _______. A. form utility B. product positioning C. social influences D. a substitute product E. emotional motives

D. a substitute product

The process through which management and the union negotiate wages, benefits, and other conditions of employment is known as _______. A. arbitration B. union certification C. mediation D. collective bargaining E. conciliation

D. collective bargaining

Fine Arts and Communication faculty members at Midland College must possess a master's degree from a regionally accredited college or university and 4 years of work experience. These requirements would MOST likely be stated on the _______ for this position. A. job analysis B. job description C. skills inventory D. job specification E. performance appraisal

D. job specification

Susan orders a sweatshirt on Amazon.com from a third-party vendor. The delivery date shows October 29, but it is already November 6 and the sweatshirt has not arrived. The online tracking number for the package has not been updated for a week. Amazon.com and the third-party seller have failed to provide _______ utility. A. place B. possession C. form D. time E. task

D. time

________provides the applicant with a actual picture of what it would be like performing the job the organization is trying to fill. A. 360-degree feedback B. Halo error C. External recruiting D. Internal recruiting E. A Realistic Job Preview (RJP)

E. A Realistic Job Preview (RJP)

Charismatic leadership is based on the leader's interpersonal attraction that inspires support and acceptance. Charismatic leaders have confidence in their beliefs and ideals and a strong need to influence people. To become a charismatic leader, which of the following talents would you choose? A. Carrying on basic management transactions B. Developing organizational skills C. Managing routine, regimented activities D. Developing tight schedules E. Articulating and promoting a compelling vision

E. Articulating and promoting a compelling vision

Which of the following is NOT a reason for speed to market, the strategy of introducing new products to respond quickly to customer or market changes? A. The achievement of market leadership B. The more likely the product will survive C. Discouraging challenges by newer competitors D. An entrenchment in the market E. Encouraging challenges by new competitors

E. Encouraging challenges by new competitors

_______ are often seen as rising stars, and the manager trusts them to work and perform at a high level. This is also the group that the manager talks to most, offering support and advice, and they are given the best opportunities to test their skills and grow. So, of course, they are more likely to develop in their roles. A. Leadership substitutes B. Ethical leaders C. Out-group members D. Leadership neutralizers E. In-group members

E. In-group members

The company you work for crafts specialty fishing rods for sale across the country in high-end sporting goods stores. During economic downturns, when people have less disposable income, sales drop dramatically. Management has asked your advice on how to better handle the cyclical effects of the economy. Which of the following would be the BEST recommendation? A. Open a customer service hotline B. Increase advertising and promotion C. Offer an extended warranty D. Outsource E. Increase product mix

E. Increase product mix

You recently received your real estate sales license, and you now represent a seller in a popular new subdivision where buyers have many choices. As an agent, your job is to get the highest competitive market price for the seller. In creating your marketing plan for this house, which element of the marketing mix, other than pricing, would be the BEST focus? A. Product differentiation B. Time C. Financing D. Place E. Promotion

E. Promotion

_______ grants government investigators access to previously confidential personal and financial records. A. Affirmative action B. The Employee Retirement Income Security Act (ERISA) C. The Occupational Safety and Health Act (OSHA) D. Employment at will E. The Patriot Act

E. The Patriot Act

_______ leadership has become increasingly critical for organizations utilizing alternative workplace options such as telecommuting and geographically dispersed teams. A. Directive B. Task-focused C. Transactional D. Strategic E. Virtual

E. Virtual

When a US Airways flight crashed into the Hudson River, all members of the flight crew knew exactly what to do, without waiting for orders. As a result of their actions, a disaster was averted, and all passengers were rescued. This is an example of _______. A. virtual leadership B. a leadership neutralizer C. transformational leadership D. coercive power E. a leadership substitute

E. a leadership substitute

A formal assessment of how well—or how poorly—an employee is performing his or her job is referred to as _______. A. internal recruiting B. a skills inventory C. a job specification D. a job analysis E. a performance appraisal

E. a performance appraisal

Fausto has purchased a long-term care insurance policy that provides nursing home coverage should this benefit be needed in the future. This purchase is an example of a(n) ________. A. shopping good B. capital item C. product mix D. expense item E. capital service

E. capital service

The leader behaviors identified by the path-goal theory are _______. A. task-focused, employee-focused, transactional, and transformational B. situational, supportive, behavioral, and strategic C. transactional, transformational, situational, and ethical D. reward, coercive, referent, and legitimate E. directive, supportive, participative, and achievement-oriented

E. directive, supportive, participative, and achievement-oriented

Holding college job fairs, using employment agencies or executive search firms, placing help-wanted ads in newspapers, and posting available positions on Internet sites such as Monster.com are all forms of _______ recruiting. A. in-house B. secondary C. primary D. internal E. external

E. external

Once marketing managers have a basic understanding of their role and the nature of their competition, their next step is to develop their _______. A. pricing B. distribution C. sales promotion D. data warehouse E. marketing plan

E. marketing plan

Phillip's supervisor repeatedly asks him to have dinner or drinks with her. Phillip refuses each time. His supervisor has now suggested that, if he agrees to date her, she'll see that he gets a bigger raise. This is an example of _______. A. workforce diversity B. affirmative action C. employment at will D. a hostile work environment E. quid pro quo harassment

E. quid pro quo harassment

One common error in performance appraisal is ______, the tendency to base judgments on the subordinate's most recent performance because it is most easily recalled. A. 360-degree feedback B. staffing C. adverse impact D. the halo error E. recency error

E. recency error

You are buying a new laptop and you consider the software package, the color, design, and the fast online delivery. These features are part of the _______. A. expense items B. capital items C. classification of products D. production items E. value package

E. value package

______ workers are employees who are of value because of the expertise they possess. A. Knowledge B. Contingent C. Union D. Temporary E. Salaried

A. Knowledge

During which stage of the product life cycle does sales growth peak and then ultimately begin to slow? A. Maturity B. Growth C. Introduction D. Summit E. Decline

A. Maturity

Which of the following can be expected during the growth stage of the product life cycle (PLC)? A. Revenues surpass costs and sales increase rapidly B. Price-cutting, increased advertising and promotional expenditures, and lower profits C. Extensive development, production, and sales costs D. The decline of sales and profits E. Highest profit levels early in the stage

A. Revenues surpass costs and sales increase rapidly

Basketball legend LeBron James of the Lakers has a lifetime contract with Nike and will be shooting his way through Nike products for a long time. Celebrity endorsements are an example of _______ power. A. reward B. referent C. expert D. legitimate E. coercive

B. referent

NCR (National Cash Register) has been selling manually operated cash registers in Latin America. This is an example of extending product life through _______. A. product adaptation B. reintroduction C. product features D. product succession E. product development

B. reintroduction

Marco has asked you to help him bring to market an idea he has for a service business that compiles data for homeowners on basic services, and then helps them schedule the best services at the best prices. He defined the value package and then prototyped the service, testing it out on a small scale in one urban area in the Northwest. Which of the following activities would you advise him to add to his development process? A. Promotion B. Going public C. Business analysis D. Diversification E. Distribution

C. Business analysis

Which of the following statements BEST explains the difference between fixed costs and variable costs? A. Fixed costs are established by contract terms of one year or more; variable costs are subject to change on a month-to-month basis. B. Fixed costs rise as production increases and fall as production decreases; variable costs remain constant. C. Fixed costs must be paid regardless of production output; variable costs change depending on the volume produced or sold. D. Fixed costs fall as production increases and rise as production decreases; variable costs remain constant. E. Fixed costs are for the essential needs of a business; variable costs are for nonessential needs.

C. Fixed costs must be paid regardless of production output; variable costs change depending on the volume produced or sold.

A _______ strategy calls for increasing foreign market share by pricing products below cost. As a result, a product is priced lower in a foreign market than in its own country. A. price lining B. product extension C. dumping D. market penetration E. price skimming

C. dumping

Jill has a dog-grooming business. She has to pay for rent and insurance each month no matter how many dogs she grooms. This is an example of _________. A. variable costs B. price skimming C. fixed costs D. revenue E. capital items

C. fixed costs

Products that carry the name of the wholesaler or retailer instead of the name of the manufacturer are referred to as _______ brands. A. licensed B. producer C. private D. national E. generic

C. private

Depending on the style of the wedding gown—and the size of the bride—a wedding dress custom-designed and sewn in Christina's bridal shop may use up to 8 yards of satin or silk, plus tulle, trim, buttons, and lace. The cost of these elements is part of Christina's ______. A. markup B. fixed costs C. variable costs D. branding E. product adaptation

C. variable costs

Which of the following pricing strategies uses price points to help create the impression in consumers' minds that the product is less expensive than it really is? A. Cost-oriented pricing B. Penetration pricing C. Price lining D. Odd-even pricing E. Price skimming

D. Odd-even pricing

BellStar Communications is a new provider of 3D satellite TV service. It offers an extremely low introductory price for the first 12 months because it wants to attract new customers and quickly garner market share. Which pricing strategy is it using? A. Psychological pricing B. Cost-oriented pricing C. Price lining D. Penetration pricing E. Price skimming

D. Penetration pricing