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Study Resources (Business Management)

  39.Which of the following classifications of products apply to business goods and services? a.supplies and specialty products b.specialty products and convenience products c.installation and accessory equipment d.shopping products and expense items 40.Travis wants to replace his old mattress with a new soft-foam mattress, and has spent almost a week researching different brands and prices. When.
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  ESSAY 13.Describe the difference between capital items and expense items. 14.Define product. What decisions are included in the marketing conception of a product? 15.Explain the relationship between a company’s product line and product mix. 16.Provide examples of each of the following consumer products: convenience, shopping, and business.     .
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  98.The production era stressed efficiency in producing quality products. 99.A buyer's market is one characterized by a shortage of goods and services. 100.The marketing concept refers to a company-wide customer orientation with the objective of achieving long-term success. 101.In the “marketing era” of the 1950’s, businesses began to fully recognize the importance of.
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MATCHING       Complete the following using the terms listed. a.production b.computer-aided design (CAD) c.quality control d.production and operations management e.inventory control f.quality g.computer-aided manufacturing (CAM) h.benchmarking i.utility j.production control k.materials requirement planning l.make, buy, or lease decision m.just-in-time (JIT) system 1.The use of resources to convert materials into goods and services is known as _____. 2.The _____ is the first step in a company’s production plan. 3._____ is.
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  23.Define external data and how this helps companies. 24.Describe the consumer markets segmentations. 25.Define the term target market. 26.Define consumer products and business products, and provide an example of how a product could be classified as both. 27.Describe some of the ways businesses are using relationship marketing to achieve corporate goals.     .
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  58.Tabitha is a research specialist in a marketing division. She is working on a project that involves searching through customer files to detect spending patterns or trends that her company could target to increase sales. Tabitha is ________. a. developing a value-added database b. segmenting and correlating the data files c. doing environmental.
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  19. What are the three factors in the facility location decision? Provide examples of businesses most affected by each facility location factor. 20.Define physical variables that affect facility locations and provide an example. 21. Discuss the factors a firm should consider when deciding whether to make, buy, or lease components.     .
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  41.A steel company whose blast furnaces never completely shut down except for in the case of malfunctions is an example of a(n) ________ production system. a. intermittent b. synthetic c. analytic d. continuous 42. Which production system is Smith-Kline Beecham using when it combines calcium carbonate, simethicone, corn syrup, and other ingredients to make Tums.
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  59.The combination of industry saturation and intense competition indicates that a product has reached the ________ stage of its product life cycle. a.growth b.maturity c.decline d.early 60.E-readers were introduced a few years ago with great success. Additional companies have entered the market, and sales have continued steadily. E-readers are an example of a product in.
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  61.Which of the following layouts would be appropriate for a manufacturer who needs to produce large numbers of a single product? a. product layout b. process layout c. fixed-position layout d. customer-oriented layout 62.A plant where plastic 2-liter bottles are manufactured probably uses a ________ layout. a. customer-oriented b. product c. process d. fixed-position 63.Sakura is a production manager and.
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  MULTIPLE CHOICE 28.________ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. a. Marketing b. Market segmentation c. Consumer behavior d. Marketing research 29.Philippe owns a store that sells lampshades. The process of receiving.
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  101. Flexible production systems typically involve using information technology to share the details of customer orders, programmable equipment to fulfill orders, and skilled people to carry out whatever tasks are necessary to fill an order. They are less complicated and require less cooperation than mass production systems. 102.A light bulb is.
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  112.In highly productive teams, norms contribute to accomplishment of team goals. 113.Diversity among team members often decrease the chances of conflict. 114.Cognitive and affective conflict can occur together in the same team. 115.An example of affective conflict is when teams reconcile differences to produce the best possible solution. 116.Most company recruiters rank job performance.
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  78.________ strategy focuses on personal selling, advertising, sales promotion tools, and public relations to produce effective communication between the firm and the marketplace. a. promotional b. distribution c. pricing d. product 79.Ida works on creating ways to ensure that customers receive goods at the right time and correct location. Ida is involved in her firm's.
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  108.Primary data refer to data collected firsthand through such methods as observation and surveys. 109.An example of secondary data is an interview with 500 reliable consumers. 110.Government statistics are examples of primary data. 111.External data refer to data about other organizations. 112.A focus group is a type of survey method for collecting secondary data. 113.Market.
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  23.Explain the difference between direct and indirect distribution channels. Provide an example of each type. 24.Describe the benefits of having intermediaries and provide an example. 25.Differentiate between a merchant wholesaler and an agent or broker in terms of title to the goods.     .
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  122.High-context cultures including the United States and Germany pay attention to the conditions that surround the message, including nonverbal cues and personal relationships between the parties. 123.Senders should request feedback if it is not forthcoming. 124.E-mail is considered one of the most secure forms of communication. 125.Polite listeners are attentive listeners. 126.Silvia likes to.
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  71.Tidewater Company uses 100,000 pounds of fresh flowers each year. Because of rising energy costs, it has become more expensive for Tidewater to store flowers. All other factors being equal, Tidewater should ________ its inventory of fresh flowers, which would ________ the risk of running out of inventory. a. reduce; have.
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  131.Production control primarily creates procedures for coordinating materials efficiently. 132.Eva is determining the sequence of work throughout a manufacturing facility and who will perform which task at which location. Eva is engaged in the production control step known as routing. 133.Routing choices depend on the nature of the good or service and.
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  MULTIPLE CHOICE 29.Consumer products are usually classified as ________. a.Capital items, convenience items, and specialty products b.Convenience products, shopping products, and specialty products c.convenience products and expense items d.expense items and capital items 30.A marketer focuses on a product's ________. a.benefits b.symbolic attributes c.service attributes d.physical characteristics 31.A bundle of physical, service, and symbolic attributes designed to satisfy customer wants is.
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MATCHING       Complete the following using the terms listed. A.Marketing intermediary B.Test marketing C.Brand insistence D.Product life cycle E.Brand name F.Wholesaler G.Trademark H.Product I.Convenience products J.Product line K.Supply chain L.Logistics 1.A brand that has been given legal protection is called a _______________. 2._______________refer(s) to the stages a product goes through when it enters and leaves the market. 3._______________refer(s) to a firm that moves goods between producers and.
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  92.Employee stock ownership programs are retirement plans set up for top-level executives. 93.Under a stock options plan, companies give employees the option to purchase a specified amount of company stock at a given price within a given time period. 94.Employee stock ownership plans (ESOPs) are more common in smaller firms than in.
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  121.Quality, prices, dependability of delivery, and services offered by competing companies are some of the main things companies will take into consideration when selecting a supplier. 122.Warehousing costs, taxes, insurance, and maintenance are expenses involved in storing inventory. 123. For a major purchase, negotiations between a purchaser and potential vendors are done.
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  102.During the forming stage, team members focus on solving problems and accomplishing tasks. 103.All teams naturally complete the five stages of development. 104.During the norming stage, team members reach consensus about the roles of the team leader and other participants. 105.Norming is generally the longest stage of development. 106.The primary role of the team.
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  49.A product line is a group of ________ products marked by physical ________. a.related; similarities b.unrelated; similarities c.related; differences d.unrelated; differences 50.Coke, Diet Coke, Cherry Coke, Coke Zero, and Coke with Lime constitute Coca Cola's ________ of soft drinks. a.product mix b.distribution strategy c.product cluster d.product line 51.Since potential customers are unaware of a product during its introductory stage, initial.
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    MULTIPLE CHOICE 31.The want-satisfying power of a good or service is called ________. a. quality b. ownership c. worth d. utility 32.When a cabinet maker combines wood, tools, and skill to create finished kitchen cabinets for a new home, the cabinet maker is engaging in ________. a. distribution b. time utility c. process utility d. production 33.Trucks, personnel, buildings, fuel, goods.
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  51.Computer chip manufacturers, such as Intel, must be primarily concerned with ________. a. availability to energy b. proximity to markets c. community living conditions d. availability of water supply 52.The production facility for a space shuttle would probably be organized according to a ________ layout. a. fixed-position b. product c. process d. customer-oriented 53.State and local governments may offer ________.
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  ESSAY 14.Explain the difference between production and manufacturing. 15.Compare analytic production systems to synthetic production systems, and provide an example of each. 16.Define continuous production processes and intermittent production processes, and provide an example of each.     .
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  91.Which of the following is NOT part of the mission of ISO? a. Enforce quality standards. b. Provide a framework for continual improvement. c. Promote international standards for business, government, and society. d. Facilitate global trade and cooperation. 92.Owen is a factory manager for Gateway Computers and is conducting a visual inspection of component hardware.
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  79.Marketing intermediaries include ________. a.manufacturers and agents b.retailers and customers c.producers and service providers d.wholesalers and retailers 80.Raoul's job is to make sure that his company's goods get from the warehouse to retailers in a timely fashion. Raoul's job involves the ________ function. a.distribution b.production c.finance d.management 81.The two major distribution channels are ________. a.production scheduling and inventory control b.selling and advertising c.direct.
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  88.A university offers alumni a special Visa card with the university's logo printed on the front. Each time the cardholder uses the card, the university receives a small percentage of the amount charged. This is an example of ________. a. cobranding b. an affinity program c. a frequency marketing program d. comarketing TRUE/FALSE 89.In the exchange.
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  69.When Kroger's grocery store puts its own line of detergent on the shelf next to Tide, the store is promoting its ________ brand. a.individual b.private c.manufacturer d.family 70.A brand that has been given legal protection is known as a ________. a.patent b.copyright c.trademark d.royalty 71.Advertising slogans, such as “Just Do It” or “Obey Your Thirst,” are ________ that are given.
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  38.The era in marketing history characterized by the notion that creative advertising would convince consumers to buy a product is known as the ________ era. a. relationship b. production c. sales d. marketing 39.The era in marketing history characterized by the notion that a good product will sell itself is known as the ________ era. a..
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  81.Which phase of production control determines the amount of all resources needed to produce a certain amount of goods and services? a. production planning b. routing c. dispatching d. scheduling 82.Yusted's company uses a computer to control its production process. The computer transmits signals to machines for performing the appropriate steps in the correct order..
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  68.Amazon.com keeps track of goods its customers have ordered. When a returning customer logs onto Amazon.com, the site creates a list of recommendations based on the customer's purchasing history. Amazon is segmenting the market by________. a. product b. psychographic c. demographics d. end-use 69.All of the following are methods of segmenting the business market EXCEPT.
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  118.The 80/20 principle states that roughly 80 percent of a product’s revenues come from only 20 percent of its buyers. 119.Income is perhaps the most volatile factor in demographic segmentation in the United States. 120.Marketing segmentation is the group of potential customers toward whom an organization directs its marketing efforts. 121.Business products are.
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  111.A process layout groups machinery and other equipment according to their functions. 112.A product layout can efficiently produce a large number of similar products but is relatively inflexible. 113.Hospitals often use a customer-oriented layout. 114.Custom machine shops are typically organized in a product layout. 115.Airplane manufacturers have traditionally used customer-oriented layout. 116.The decision to make,.
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  141.The sole purpose of a successful production planning process is to ensure customer satisfaction. 142.An important use of robots is to free humans from potentially dangerous assignments such as handling hazardous materials. 143.Most modern production facilities will choose to use either CAD or CAM, but not both in tandem. 144.Creators of Kittyland Theme.
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  MATCHING       Complete the following using the terms listed. a.secondary data b.affinity program c.market segmentation d.demographic e.target market f.utility g.marketing mix h.data mining i.consumer behavior j.ownership utility k.exchange process l.B2B m.lifetime value of a customer n.relationship marketing o.frequency marketing p.product-related segmentation 1._____ refers to an orderly transfer of goods and services from the seller to the buyer. 2._____ refers to activities in which two or more parties give something of.
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