bfound test 3 hw review

customer relationship management

focuses on using information about the customer to create marketing strategies that develop and sustain desirable customer relationships.

sales forecasts

Managers rely on _____________ to purchase raw materials, schedule production, secure financial resources, consider plant or equipment purchases, plan inventory levels, and hire personnel, therefore they must be accurate.

disposable income, personal income, discretionary income

3 included in the individuals buying power

marketing concept

A business philosophy that a firm should provide goods and services that satisfy customers' needs through a coordinated set of activities that allow the firm to achieve its objectives is most often called the

Policies and strategies

A compensation system is a firm's ________ that determine employee compensation.

Reseller Markets

A market is a group of individuals or organizations, or both, that need products in a given category and that have the ability, willingness, and authority to purchase them. Which of the following is the name given to the market for intermediaries who buy finished products and sell them for a profit?

Expectancy Theory

A modern motivational theory based on the assumption that motivation depends on how much an employee wants something and on how likely the employee thinks he or she will receive it, requires employees to balance the value they place on different aspects of their life against the goal they seek. Balancing is required because of the possibility of any action leading to varied outcomes. What theory is this?

job redesign

A motivational method in which the work is restructured to better match the worker could accomplish its goal by using work teams or establishing closer customer relationships. What is the name of this motivational method?

place utility

A pair of shoes is given ____________ when it is shipped from a factory to a department store.

Target Market

Businesses need to direct their product marketing strategies to the individuals most likely to purchase it. Often marketing managers examine potential markets for their possible effects on the firm's sales, costs, and profits. Which of the following is the designation given for the group to which marketing managers direct the focus of their marketing efforts for a product?

consumer buying behavior

Buying behavior may be defined as the decisions and actions of people involved in buying and using products. Which of the following is normally included as a major focus in the study of buying behavior?

Producer Markets

By Abram's Company buying products to use in the manufacture of other products, it has demonstrated that it is part of the

concentrated market segmentation

Centrum Silver is a multiple vitamin marketed to individuals over fifty years old. The company divides its market into Centrum Silver for women 50+ and Centrum Silver for Men 50+. The organization is using a ____________ approach to market these products.

interest and divided income

Consumer buying behavior is affected by the individual's buying power. Which of the following is not included in an individual's buying power?

Theory X and Theory Y

Douglas McGregor observed management's view of workers from two perspectives. In one perspective, he said managers view workers as slothful, lazy, and have no desire to work. In the other view, he said managers view workers as individuals who like to work, will work toward goals to which they are committed, and seek out and willingly accept responsibility.

Hawthrone Studies

Elton Mayo conducted the ________ at the Western Electric Company in Chicago, to determine the effects of the work environment on employee productivity.

problem-solving team

Employees from different departments within the company may be brought together temporarily in a _________ to tackle a specific problem.

selecting the candidate with the most qualifications for the position

Employers engage in recruiting to find qualified applicants for open positions within the firm. Recruiting can be external—seeking candidates outside the business, or internal—seeking applicants from within the firm. Which of the following is not part of internal recruitment?

job sharing

Employers may work with employees' schedules to accommodate the employees' lifestyles. What is the name given to the working arrangement in which the employer permits two employees to work less than a full-time schedule but work at the same tasks?

surveying potential participants

Firms use a wide variety of methods for training employees—both for initial job skill training and for continual job performance improvement. Which of the following is not important for an effective training and development program?

international standards

Firms use many techniques for determining the wage structure for positions within the firm. Which of the following is not normally used by firms to determine their wage structures?

problem-solving team

Fred Smith, CEO and founder of FedEx, once described the early days of the company, the issues they had to resolve, and the drive and determination that pushed them through the obstacles. He said there were times that the entire board of directors, which was made up of individuals with varying specialties, expertise, and skills, would come together to resolve an issue—in his case this usually meant finding a way to get shipments from one point to another by the deadline with very few resources. What kind of team did he form?

the efficiency of individual workers

Frederick W. Taylor used scientific management as a means to improve

virtual teams

HCL Technologies is a multi-national corporation providing a wide variety of technological services to business clients worldwide. In order to keep the company operating as a single entity, the CEO has created an intra-company information exchange similar to Facebook, he has a weekly newsletter posted on-line for employees, and takes input for improvements or problem solutions from any employee wherever they are located and whatever their position is. Often, when a new client needs a technological solution that cannot be solved in any one location, individuals who would like to work on the project, volunteer and communicate via a company video conferencing and information exchange site. In light of the methods used to communicate within these volunteer teams, what would the most likely designation be for these teams?

maintaining

Human resources management (HRM) is all activities involved in acquiring,____________ , and developing an organization's human resources.

Time Utility

Many homes are decorated in spring colors because these colors are deemed to be uplifting; however, most department stores do not carry products in spring colors in the fall and winter when the focus is on browns and greens. Which of the following utilities explains the reason for spring-colored product availability?

Marketing decisions and activities focused on achieving long-term, satisfying relationships with customers

Marketing is based on many different relationships between customers, wholesalers and producers, buyers, and sellers. What does the term relationship marketing refer to?

support

Motivation affects an individual's internal process. Which of the following is not something that we would consider motivational for an individual?

-fair distribution throughout the organization, -staisfaction of employee needs, -comparability to rewards offered by other firms

Necessary for a company to have a successful employee reward system

Evaluating current employees

One of the first steps in hiring new employees is to prepare a job forecast to anticipate the company's employment needs. Which of the following is not part of the hiring process?

forecast future demand for Human Resources

Supply and demand are important in human resources planning because the planners must ________ then determine if they are available.

need for financial security

The morale of an individual on the job is closely tied to job satisfaction and having needs met. Which of the following is a need that, according to the authors, would be satisfied by employment?

Marketing Plan

The purpose of a ___________ is to establish a unified vision for an organization and to communicate this vision among the firm's employees.

motive

The underlying cause for a person to act in a particular manner may be referred to as a

it reduces payroll expenses

There are many reasons for encouraging cultural diversity within the workplace, which of the following is not a good reason to engage in hiring for cultural diversity?

sales forcast

To determine the potential of a specific market segment an organization makes predictions based on a specific relevant time frame, geographic boundaries, and an estimate for the specific product item, product line, or an entire product category. What is the name given to the estimate of the amount of a product that an organization expects to sell during the specific period based on a specified level of marketing effort?

skills inventory

When a human resource department is considering available talent within the company, which of the following will it use to determine successors for key personnel?

Competitive Forces

When considering the external marketing environment, organizations must consider ____________ , which is the actions of competitors who are in the process of implementing their own marketing plans.

Goal Setting Theory

Which modern theory of motivation states that employees are motivated to achieve goals that they and their managers establish together as long as the goals are specific and attainable and rewards are tied to the goal achievement?

tailoring to individual recipients

Which of the following is NOT necessary for a company to have a successful employee reward system?

to let other employees see that there are rewards for good performance

Which of the following is not a purpose for management undertaking performance appraisals of employees?

estimate sales

Which of the following is not a step in the marketing research process?

consumer protection laws

Which of the following is not normally included as a central component of a marketing plan?

finances

Which of the following is not normally included in the external marketing environment?

Terminating

Which of the following is not one of the primary tasks of human resources management?

Hygiene Theory

Which of the following theories or studies maintained that, as pertaining to employees, a state of no dissatisfaction cannot exist because people will always be dissatisfied with something?

Implementing

Which part of the marketing concept is concerned with using information about present and potential customers to provide a product that will satisfy them at a price that is acceptable to them, that will yield a profit, that will promote the product, and ensure that the product is distributed so that it is available to customers where and when it is needed?

-organizations resources -objectives -marketing strategy

central component of a marketing plan

-laws and regulations -technology - economies

external marketing environment

management by objections

is a motivation technique in which managers and employees collaborate in setting goals for the purpose of clarifying the roles employees are expected to play in reaching the organization's goals.

behavior modification

is a systematic program of encouraging desirable behavior involving rewards to encourage desirable actions and punishments to discourage undesirable actions.

morale

is an employees attitude or feeling about the job

Marketing Research

is an important step of the marketing process because it involves collecting and analyzing data on what consumers want and need, their consumption habits, trends, and changes in the marketing environment

National Labor Relations Act

is concerned with dealings between business firms and labor unions

employee training

is the process of teaching operations and technical employees how to do their present jobs more effectively

input/output ratio

is used to measure an employees contribution to the organization

Equity Theory

maintains that people are motivated to obtain and preserve fair treatment for themselves

Judgmental Methods

of appraisal is used when a manager estimates the employees performances level using a ranking

consumer buying behavior

often differs based on the product being purchased. For instances, low-cost items are purchased with routine response behavior and very little search or decision-making, but expensive, seldom-purchased items call for extended research and decision making.

-maintaining -acquiring -developing

primary tasks of Human Resources management

-to let workers know how well they are doing and how they can improve -to help organize monitor its employee selection, training, and developing -to provide an effective basis for distributing rewards

purpose for management undertaking performance appraisals of employees

Recruiting

refers to the activity of trying to attract qualified applicants for a job

cultural diversity

refers to the differences among people workforce owing to race, ethnicity, and gender

-sustain -energize -direct

something we would consider motivational for an individual

-make a preliminary investigation -interpret the info -gather factual info

steps in the marketing research process

cross-functional team

team consists of employees from different departments and different specialties that are brought together to complete a project that requires a diversity of skills. It is frequently managed from within the team itself.

to improve workplace attitudes and behaviors

the goal of a diversity program is

understand the nature of a job

the purpose of job analysis is to help a manager

elements and requirements

the purpose of job analysis is to systematically position to determine____