Str 581 final exam 2
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  • 1. STR 581 Final Exam 2 PLEASE DOWNLOAD THE ANSWERS HERE!!!1) ________ consists of people, equipment, and procedures to gather, sort, analyze,evaluate, and distribute needed, timely, and accurate information to marketingdecision makers.2) 3M, Hewlett-Packard, Lego, and other companies use the ________ to managethe innovation proces3) ________ is the difference between the prospective customer’s evaluation of allthe benefits and all the costs of an offering and the perceived alternatives.4) A company can take several steps to improve the quality of its marketingintelligence. If the company purchases competitive products for study, attends openhouses and trade shows, and reads competitors’ published reports and stockholderinformation, the company is using ________ to improve the quality of its marketingintelligence.5) A ________ is a set of procedures and sources managers use to obtain everydayinformation about developments in the marketing environment.6) A(n) ________ is any good, service, or idea that is perceived by someone as new.7) Total customer satisfaction is the general feeling of pleasure or disappointmentthat results from comparing perceived performance to expectations. To achievetotal customer satisfaction, organizations need to_____________.8) Particularly when shopping for ego-sensitive products such as perfumes andexpensive cars, many consumers use price as an indicator of ________.9) A ________ consists of a group of customers who share a similar set of needs andwants.10) A firm has to consider many factors in setting its pricing policy. We listthese as a six-step process. Which of the following is NOT one of these steps?11) A marketing manager needs to know the cost of the research project beforeapproving it. During which step in the marketing research process would such aconsideration most likely take place?12) Which of the following types of marketing research firms would best bedescribed as one that gathers consumer and trade information which they sell for afee (e.g., Nielsen Media Research)?
  • 2. 13) Companies normally budget marketing research at ________ percent ofcompany sales.14) The marketing communications mix consists of six major modes ofcommunications. Which of the following is NOT one of these modes?15) The chief disadvantage to a firm that decides to follow a product specializationstrategy in selecting target markets is ________.16) New-to-the- world products are ________.17) Major retailer types include the following EXCEPT ________.18) Marketing communications can contribute to brand equity by establishing thebrand in memory and to________ (in)a brand image.19) Price has operated as the major determinant of buyer choice among poorernations, among poorer groups, and with ________ products.20) ________ communicates a company’s intended value positioning of its productor brand to the market.21) Following the ________ approach to target market selection encompasses astrong knowledge of the segment’s needs, a strong market presence, and operatingeconomies through specializing in production, distribution, and promotion.22) Some intermediaries use the following: strategic planning, advancedinformation systems, sophisticated marketing tools, measure performance on areturn-on-investment basis, segment their markets, improve their target marketingand positioning, and ________.23) To reach Generation Y, rock band Foo Fighters created a digital street team thatsends targeted e-mail messages to members who “get the latest news, exclusiveaudio/video sneak previews, tons of chances to win great Foo Fighters prizes, andbecome part of the Foo Fighters Family.” Which of the following techniques forreaching Generation Y are the Foo Fighters using?24) The traditional view of conflict is the belief that conflict is ____25) The two general approaches to bargaining are known as ________.26) Which of the following is NOT included in the definition of conflict?27) If no one is aware of conflict, it is generally agreed that _____.28) Which of the following statements about leadership is true?
  • 3. 29) Which of the following statements best defines a work group?30) _____ bargaining is negotiation that seeks to divide a “fixed pie.”31) Examples of off-the-job training include all of the following except _____.32) Between the late 1960s and the mid-1980s, the use of written tests declinedbecause they were characterized as _____.33) Which type of skill training has become increasingly important in organizations?34) According to a recent survey, about ___ percent of employees working in the1,000 largest U.S. corporations receive ethics training.35) _____ can be used to increase the perception that employees are treated fairly.36) Whenever Jane is successful she takes full credit for what has happened, butwhenever she is unsuccessful she attributes her failure to bad luck or blames one ofher fellow employees. She is guilty of _____.37) A task that is subdivided into many separate jobs is considered to have _____.38) Organizational structure has six key elements. Which of the following is not oneof these elements?39) What term is used for the tendency of an individual to attribute his ownsuccesses to internal factors while putting the blame for failures on external factors?40) Which of the following is not a primary force for change in organizations41) Which of the following would NOT be classified as a time-series technique?42) According to Goldratt and Fox, a useful performance measure to treat inventoryis ______.43) According to David Maister, the most complex projects requiring innovation andcreativity are called _________.44) Operations stage toolkit for the Data Analysis and Solution Development phaseinclude(s): I. SPC tools II. Bottleneck analysis III. Computer simulation IV. Balancedscoreboard45) If the system contains a bottleneck, the _______ is the best place for control. Ifthere is no bottleneck, the __________ is the best place for control.
  • 4. 46) __________ says to recognize the value of hidden options in a situation, such asthe foreign exchange options in some derivative instruments.47) Due to asymmetric information, the market fears that a firm issuing securitieswill do so when the stock is _________.48) Under capital rationing, given the choice among several equally attractiveinvestments, the best tool to use is the __________.49) A checking account is __________.50) __________ says to look for opportunities to invest in positive-NPV projects inforeign markets or to develop derivatives or design arrangements that enable firmsto cope better with the risks they face in their foreign operations.51) __________ says to seek out investments that offer the greatest expected risk-adjusted real return.52) An investors risky portfolio is made up of individual stocks. Which of thefollowing statements about this portfolio is true?53) Which of the following statements is true?54) An all-equity-financed firm would __________.55) “Hard” capital rationing refers to the rationing __________.56) A key variable covered in our text for the Black-Scholes OPM is __________.57) The managerial decision best addresses which of the following questions?58) The financing decision best addresses which of the following questions?59) Which of these investments would you expect to have the highest rate of returnfor the next 20 years?60) Dimensions of risk include __________.61) __________ says to recognize the value of options contained in derivatives.62) Which of the following is (are) true?63) You do a study and find out that, on average, stock prices for firms decrease 3%for every 5% decrease in inside ownership. You are watching the nightly businessreport and find out that Magic Tape’s stock has announced that insiders have sold10% of their holdings. You are concerned because you own 1,000 shares of Magic
  • 5. Tape and it had closed the day before unchanged at $30 per share. If markets are atleast semi-strong form efficient, what would you expect?64) Which of the following is not an advantage of going public?65) Incremental analysis would not be appropriate for66) Undertaker Corporation has a joint process that produces three products: P, G,and A. Each product may be sold at split-off or processed further and then sold.Joint processing costs for a year amount to $25,000. Other relevant data are asfollows: Product Sales Value at Split-off Processing Costs after Split-off Sales Value atCompletionP $62,000 $5,000 $88,000G 12,500 6,500 19,000A 9,400 5,000 12,00067) Cena Corporation has a joint process that produces three products: P, G, and A.Each product may be sold at split-off or processed further and then sold. Joint-processing costs for a year amount to $25,000. Other relevant data are as follows: Product Sales Value at Split-off Processing Costs after Split-off Sales Value atCompletionP $32,000 $5,000 $40,000G 16,500 7,500 29,000A 6,400 8,000 10,00Once product P is produced, processing it further will cause profits to _____68) A transfer price exists when two segments of the same organization sell _____.69) For what purpose is the theory of constraints used?70) A _____ gives the expected sales under a given set of conditions.71) Important factors considered by sales forecasters include all of the followingexcept _____.72) Effectiveness is indicated by _____.
  • 6. 73) _____ is an important factor considered by sales forecasters.74) At the break-even point of 2,000 units, variable costs are $55,000, and fixedcosts are $32,000. How much is the selling price per unit?75) A company has total fixed costs of $120,000 and a contribution margin ratio of20%. The total sales necessary to break even are76) A cost which remains constant per unit at various levels of activity is a77) For an activity base to be useful in cost behavior analysis,78) An absorption-costing income statement separates cost into the majorcategories of_____.79) The _____ is/are NOT a difference between the standard absorption-costingformat and the variable-costing format.80) _____ costs relate to more than one product and cannot be separately identifiedwith an individual product81) The last step in activity-based costing is to82) Jack and Jill form a partnership. Jack runs the business in New York, while Jillvacations in Hawaii. During the time Jill is away from the business, Jack increasesthe debts of the business by $20,000. Which of the following statements is trueregarding this debt?83) The _____ is not one of the three major financial statements.84) A local retail shop has been operating as a sole proprietorship. The business isgrowing and now the owner wants to incorporate. Which of the following is not areason for this owner to incorporate?85) The _____ is also called the statement of financial position.86) The theory of business social responsibility that holds that a business owesduties solely to produce the highest return for its shareholders is:87) Which country does the text describe as becoming the largest producer andconsumer of many of the worlds goods88) The centerpiece of most diversity programs is _____.89) Which social responsibility theory has been advocated by Novel Prizewinningeconomist Milton Friedman
  • 7. 90) Although the U.S. has had a longstanding agreement with ___________, afterthe passage of NAFTA, _________ became the United States second largest tradingpartner.91) Which of the following is correct about litigating commercial disputes?92) Which article of the United States Constitution deals with the judicial power ofthe federal government?93) When an economist says that the demand for a product has increased, thismeans that:94) When movie ticket prices increase, families tend to spend less time watchingmovies and more time at home watching videos instead. This best reflects95) The force behind globalization in _____ was the amount of muscle, horsepower,wind power, or steam power that a country could deploy.96) The Global, Web-Based Platform enables individuals to do which of thefollowing?97) _____ is the integration of economic, social, cultural, and ecological facets of life,enabled by information technologies.98) A _____ scale is a scale that scores an object or property without making adirect comparison to another object or property.99) Marketing research is now about a ________ billion industry globally.100) The use of a(n) _____ serves as a comparison to assess the existence andpotency of the manipulation. STR 581 Final Exam 2 PLEASE DOWNLOAD THE ANSWERS HERE!!!