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Study Resources (Business Management)

  MATCHING   Complete the following using the terms listed. a.marketing intermediary b.test marketing c.brand insistence d.product life cycle e.brand names f.wholesaler g.family brand h.product line i.convenience products j.product line k.wheel of retailing l.logistics     A single brand name such as Johnson & Johnson that is used for the entire line of products is an example of a(n) _____ .   A(n) _____ is a firm that moves goods.
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  ESSAY 20.Explain the difference between production and manufacturing. 21.Describe the differences between mass production, flexible production, and customer-driven production. 22.Compare analytic production systems to synthetic production systems and provide an example of each. 23.Define continuous production processes and intermittent production processes and provide an example of each. 24.Provide two examples of uses for robots. 25.Describe the.
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    An exchange process is an activity in which two or more parties give something of value to each other to satisfy perceived needs.     Marketing creates people, time, place, and ownership utility.     Ownership utility is created by making a product available in a location and at a time convenient for customers.     Becky opened a.
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  ESSAY   Define product. What decisions are included in the marketing conception of a product?       Compare the classification of consumer goods and services to business goods and services.       Provide examples of each of the following consumer products: convenience, shopping, and business.       Explain the relationship between a company’s product line and product mix.     Describe how services differ.
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  78.A plant where plastic 2-liter bottles are manufactured probably uses a ________ layout. a.customer-oriented b.product c.process d.fixed-position 79.Banks most likely utilize a ________ layout. a.product b.fixed-position c.process d.customer-oriented 80.Implementing a production plan involves all of the following steps EXCEPT ________. a.creating a feasible budget b.controlling inventory c.selecting the best suppliers for materials d.deciding whether to make, buy or lease components 81.How can a firm best.
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  The era in marketing history characterized by the notion that a good product will sell itself is known as the ________ era. a.production b.sales c.marketing d.relationship       The era in marketing history characterized by the notion that the customer is always right is known as the ________ era. a.sales b.marketing c.production d.relationship       The current marketing period where companies emphasize customer satisfaction.
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    ________ refers to the actions of consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that precede and follow these actions. a.Buyer behavior b.Consumer behavior c.Marketing management d.The marketing mix       Interpersonal determinants of consumer behavior include all of the following EXCEPT ________ influences. a.motivational b.cultural c.social d.family       Which of the following is an interpersonal determinant.
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  44.Javier works for a home electronics store and is a member of a team created to increase communication among various departments. Javier has networked with new people and now has strong contacts for each department when he needs them. Javier is a member of a ________ team. a.work b.problem-solving c.cross-functional d.virtual 45.Faith works in the.
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Chapter 11—Customer-Driven Marketing     MATCHING Complete the following using the terms listed. a.secondary data b.affinity program c.market segmentation d.demographic e.target market f.end-use segmentation g.marketing mix h.data mining i.consumer behavior j.ownership utility k.exchange process l.B2B m.person marketing n.mass customization o.frequency marketing p.comarketing q.cobranding     _____ refers to an orderly transfer of goods and services from the seller to the buyer.   A firm’s _____ blends four strategies to fit the needs and preferences of a.
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  One of the most common forms of segmenting consumer markets uses characteristics such as age, income, household size, and/or ethnic group. This is known as ________ segmentation. a.geographic b.Psychographic c.end-use d.demographic       The common bases for segmenting consumer markets include all of the following EXCEPT ________ factors. a.psychographic b.geographic c.demographic d.end-use       The marketing strategy that focuses on the precise way a.
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    The 80/20 principle states that roughly 80 percent of a product’s revenues come from only 20 percent of its buyers.   End-use segmentation focuses on the precise way a consumer will use a product.     Personal factors that influence consumer behavior include individual needs and motives, perceptions, attitudes, learned experiences, and self-concept.     Business buyers face.
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  64.Angie’s marketing team disagrees on the way to advertise a product based on their past experiences. However, all members are attempting to reconcile their differences to produce an effective marketing strategy. Angie’s team is experiencing ________ conflict. a.cognitive b.mutual c.internal d.affective 65.Steve and Renee are city council members who vehemently disagree over a new zoning.
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  114.Team cohesiveness increases with frequent team member interaction. 115.Team cohesiveness does not often affect morale. 116.A good way to encourage team cohesiveness is to encourage workers to socialize, but only off the job. 117.Team norms are informal standards that highlight a team’s key values. 118.In highly productive teams, norms contribute to accomplishment of team.
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  MATCHING Complete the following using the terms listed. a.process layout b.LEED certification c.Gantt chart d.PERT chart e.inventory control f.ISO g.critical path h.computer-integrated manufacturing i.Utility j.perpetual inventory k.materials requirement planning l.standardization m.routing n.assembly line o.robot p.just-in-time q.benchmarking r.synthetic production system s.make, buy, or lease decision   1.A(n) _____ groups machinery and equipment according to their functions. 2.The third component of mass production, _____, involves producing uniform, interchangeable goods and parts. 3.______ is the function requiring.
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  Describe the benefits of having intermediaries and provide an example.     Explain the difference between direct and indirect distribution channels. Provide an example of each type.       Differentiate between a merchant wholesaler and an agent or broker in terms of title to the goods.       Describe direct-response retailing and internet retailing and provide examples.       Provide examples of.
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  58.The process that enables manufacturers to use computers to analyze the steps a machine must take to produce a product or part is ________. a.computer-aided manufacturing b.Program Evaluation and Review Technique c.computer-aided design d.computer-integrated manufacturing 59.Yusted’s company uses a computer to control its production process. The computer transmits signals to machines for performing the appropriate.
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  ESSAY   In your own words, define marketing.       Describe the exchange process.       Discuss the evolution of the marketing concept through the marketing history eras.     Describe the five categories of nontraditional marketing and give an example of each.       Define the term target market.         .
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  124.Regina’s supervisor sends her an e-mail requesting updated financial figures as soon as possible. When Regina interprets the message as meaning by the end of the day, she is decoding the message. 125.Feedback is crucial in determining whether a message was decoded properly. 126.High-context cultures including the United States and Germany pay.
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  Explain the three segmentation methods used by firms that offer business products.       Describe interpersonal determinants and provide examples.     Describe some of the ways businesses are using relationship marketing to achieve corporate goals.       Compare comarketing and cobranding. Give an example of each.       .
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  98.The last step in production control is to spot problems in the production process and inform management of needed adjustments. This phase is called ________. a.evaluation b.dispatching c.follow-up d.process control 99.A firm can monitor quality level output in all of the following ways EXCEPT ________. a.customer surveys b.electronic sensors c.visual inspections d.share of marketplace 100.Which of the following is NOT.
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    The city of Chicago might use cause marketing for its its “Come spend a day shopping on the magnificent mile” campaign.     The use of Web sites, magazine adds, and mail sent directly to consumers by companies to market their organizations is an example of organization marketing.     The first element of a marketing.
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  134.An employee suggestion box is an example of an informal communication channel. 135.When managed properly, the grapevine can be a reliable source of information. 136.“Spinning” bad news to make it look better almost always backfires. 137.When speaking during business conversations, Americans tend to stand closer together than Latin Americans. 138.When verbal and nonverbal cues.
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  48.Grocery stores use scanners not only for faster check-out times, but as a tool to obtain merchandise sales data and create short-term forecasts. This system is known as ________ production. a.product-focused b.quality control c.data marketing d.customer-driven 49.A production system that reduces a raw material to its component parts in order to extract one or more.
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  Identify and describe the major stages of the product life cycle.       Describe methods used to extend life cycle of a product.       Define concept testing and focus groups.     Differentiate among a brand, a brand name, and a trademark.     Describe two things a manufacturer should take into consideration before designing a product’s packaging and labeling.           .
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  104.Flexibility is the primary advantage of virtual teams. 105.Virtual teams are extremely flexible. 106.Effective teams typically have two to four members. 107.Team level represents the average level of the team while team diversity represents the variance and abilities of the team members. 108.Absenteeism is more likely to be found in smaller teams. 109.All teams naturally.
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  MULTIPLE CHOICE 34.Giving employees responsibility and authority to make decisions about their work is called ________. a.communication b.teamwork c.empowerment d.top-down management 35.Rajendra’s company uses open book management, where employees can visit the company intranet and look up financial performance, design standards, and photos of coworkers. This sharing of information will ________ in employee empowerment and will.
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  68.What is the main reason some companies have set up offshore assembly plants? a.Available marketing opportunities b.Nearness to raw materials c.In search of low wages d.Inexpensive energy 69.Grey Water Disposal wants to build a landfill outside Cincinnati. . The company must conduct a(n) ________ study, which includes analyzing the effect the landfill might have on.
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  84.All of the following are examples of nonverbal communication EXCEPT ________. a.informal speech b.eye contact c.clothing choices d.tone of voice 85.Which of the following is considered an upward communication channel? a.completing an employee survey b.giving employees policy manuals c.posting notices on bulletin boards d.reporting news in company newsletters 86.Two people are having a conversation and are standing about six feet.
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  148.Robert owns a small art gallery with only a few components. His company does not necessarily need an inventory system based on materials requirement planning. 149.Production control primarily creates procedures for coordinating materials efficiently. 150.The first step in production control is production scheduling. 151.Eva is determining the sequence of work throughout a manufacturing.
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  88.Which of the following situations would present a challenge for a just-in-time (JIT) investment system? a.Increase in the number of suppliers b.Long-term relationships with suppliers c.Vendor managed inventory d.Sudden increase in demand 89.Harriet uses a computer-based production planning system by which a firm can ensure that it has needed parts and materials available at the.
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  74.Evan is listening to a voice message left by his manager, but he cannot understand most of it due to his manager’s cell phone breaking up. Evan calls back his manager for the complete message since he cannot effectively communicate with this type of ________. a.grapevine b.noise c.nonverbal communication d.conflict 75.William is listening to one.
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  Define consumer products and business products and provide an example of how a product could be classified as both.       Explain how a company might decide on a marketing mix for an international company.     Describe the sources of marketing research data.     Define external data and how this helps companies.     Describe the consumer markets segmentations.           .
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  31.Discuss the factors a firm should consider when deciding whether to make, buy, or lease components. 32.Once a company decides what raw materials and component parts to purchase, what factors do production managers use for comparison in choosing the best supplier? 33.Explain perpetual inventory control systems. 34.Describe just-in-time (JIT) inventory systems.     .
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  26.Describe a flexible manufacturing system. 27.What are the three factors in the facility location decision? Provide examples of businesses most affected by each facility location factor. 28.Define physical variables that affect facility locations and provide an example. 29.Describe the major tasks of production and operations managers. 30.Describe the customer-oriented layout and provide an example.     .
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  All of the following are internal sources of data EXCEPT ________. a.company product sales b.company product inventory c.competitor’s sales d.unpaid bills       Esperanza is reviewing data that shows sales of her company’s products during specific hours of each day. What kind of data is Esperanza reviewing? a.Survey data b.Secondary data c.External data d.Internal data       Which of the following is a drawback.
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    MULTIPLE CHOICE   ________ 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       Philippe owns a store that sells lampshades. The process of receiving money in return for.
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    Which of the following is NOT consistent with relationship marketing? a.Focusing on attaining new customers, even at the expense of losing long-term ones b.Developing partnerships with suppliers c.Developing partnerships with customers d.Supporting other businesses whose support is beneficial to the company’s goals       Approximately how much more does it cost to attract one new customer than.
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  Relay for Life raises money for the American Cancer Society for cancer research and treatment. This is an example of ________ marketing. a.idea b.place c.organization d.service       Which of the following is the first step in developing a marketing strategy? a.Identify a target market b.Develop the right product c.Decide how to promote the product d.Implement the appropriate distribution system       A singles.
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  118.Most modern production facilities will choose to use either CAD or CAM, but not both in tandem. 119.Boeing engineers’ use of computers to build new commercial jet models in the virtual world before they are actually built in production is an example of green manufacturing. 120.Computer-integrated manufacturing combines the use of robots,.
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  94.Employee empowerment often extends to non-management employees who are given the authority to make decisions ranging from ordering office supplies to granting pay increases. 95.Compared to other techniques for empowering employees, information technology has minimal risks. 96.Under a stock options plan, companies give employees the option to purchase a specified amount of.
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    An example of secondary data is an interview with 500 reliable consumers.   External data refer to data about other organizations.     Primary data refer to data collected firsthand through such methods as observation and surveys.     Government statistics are examples of primary data.     A focus group is a type of survey method for collecting secondary data.     Market.
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  108.A light bulb is an example of a standardized part, which simplifies the replacement process. 109.Mass production is highly efficient for producing small quantities of unique items. 110.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.
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  26.Define team norm and provide an example. 27.Distinguish between cognitive and affective conflict. 28.Describe the communication process. How does noise interfere with the communication process? 29.What does high-context culture mean? Provide an example of how an American business person should conduct business in a high-context culture. 30.Explain some challenges associated with e-mail.     .
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  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 ________ strategy. a.pricing b.promotion c.distribution d.product       Joe is developing the marketing mix for his company’s new line of power tools. A brand name, price, and distribution system have been decided. Now.
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  128.A process layout groups machinery and other equipment according to their functions. 129.A typical machine shop generally has separate departments where machines are grouped by functions such as grinding, drilling, pressing, and lathing. This is an example of a process layout. 130.A product layout can efficiently produce a large number of similar.
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  54.Zoe is the leader of a problem-solving team. She is encouraging every member of the team to openly express differences and work through conflicts. Zoe’s team is likely in the ________ stage. a.norming b.performing c.storming d.forming 55.Ingrid’s team is engaged in problem solving and appears focused on accomplishing tasks. Ingrid’s team is likely in which.
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  138.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. 139.For a major purchase, negotiations between a purchaser and potential vendors are done as quickly as possible in order to begin the manufacturing process. 140.Firms generally.
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  MULTIPLE CHOICE 38.The want-satisfying power of a good or service is called ________. a.quality b.ownership c.worth d.utility 39.Trucks, personnel, buildings, fuel, goods to be shipped, truck parts, and packaged supplies are examples of: a.inputs b.outputs c.conversion d.transformation 40.________ is the use of people and machinery to convert materials into finished goods or services. a.Manufacturing b.Production c.Distribution d.Marketing 41.When a cabinet maker combines wood, tools, and skill.
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