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1. STR 581 FINAL EXAMS
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1) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the innovation
process.
2) ________ is the difference between the prospective customer’s evaluation of all the benefits
and all the costs of an offering and the perceived alternatives.
3) A company can take several steps to improve the quality of its marketing intelligence. If the
company purchases competitive products for study, attends open houses and trade shows, and
reads competitors’ published reports and stockholder information, the company is using
________ to improve the quality of its marketing intelligence.
4) Most established companies focus on ________ when it comes to innovation.
5) A(n) ________ is any good, service, or idea that is perceived by someone as new.
6) Total customer satisfaction is the general feeling of pleasure or disappointment that results
from comparing perceived performance to expectations. To achieve total customer satisfaction,
organizations need to_____________.
7) A ________ is a set of procedures and sources managers use to obtain everyday information
about developments in the marketing environment.
8) Marketers usually identify niches by ________.
9) In ________ marketing, the seller engages in the mass production, mass distribution, and mass
promotion of one product for all buyers.
10) Particularly when shopping for ego-sensitive products such as perfumes and expensive cars,
many consumers use price as an indicator of ________.
11) A marketing manager needs to know the cost of the research project before approving it.
During which step in the marketing research process would such a consideration most likely take
place?
12) Which of the following is generally considered to be the last step in the marketing research
process?
13) ________ is the systematic design, collection, analysis, and reporting of data and findings
relevant to a specific marketing situation facing the company.
14) Following the ________ approach to target market selection encompasses a strong
knowledge of the segment’s needs, a strong market presence, and operating economies through
specializing in production, distribution, and promotion.
15) The marketing communications mix consists of six major modes of communications. Which
of the following is NOT one of these modes?
16) The chief disadvantage to a firm that decides to follow a product specialization strategy in
selecting target markets is ________.
17) Marketing communications can contribute to brand equity by establishing the brand in
memory and to________ (in)a brand image.

2. 18) “Power prices” use price as a key strategic tool. These “power prices” have discovered the
highly ________ effect of price on the bottom line.
19) Some intermediaries use the following: strategic planning, advanced information systems,
sophisticated marketing tools, measure performance on a return-on-investment basis, segment
their markets, improve their target marketing and positioning, and ________.
20) Major retailer types include the following EXCEPT ________.
21) ________ communicates a company’s intended value positioning of its product or brand to
the market.
22) Price has operated as the major determinant of buyer choice among poorer nations, among
poorer groups, and with ________ products.
23) New-to-the- world products are ________.
24) _____ bargaining is negotiation that seeks to divide a “fixed pie.”
25) The two general approaches to bargaining are known as ________.
26) Leadership is best defined as _____.
27) Which of the following statements best defines a work group?
28) Which of the following statements about leadership is true?
29) Negotiation can be defined as a process in which two or more parties exchange goods or
services and attempt to agree upon _____.
30) If no one is aware of conflict, it is generally agreed that _____.
31) Training employees how to be better listeners falls under which of the following training
categories?
32) _____ can be used to increase the perception that employees are treated fairly.
33) Which of the following is NOT a typical written test used in organizations?
34) Examples of off-the-job training include all of the following except _____.
35) Which of the following has proven to be a particularly good predictor for jobs that require
cognitive complexity?
36) Which of the following is not a primary force for change in organizations?
37) The “realistic” personality from Holland’s typology of personality and congruent
occupations would be well suited for which of the following jobs?
38) _____ developed a Vocational Preference Inventory questionnaire that contains 160
occupational titles.
39) Investors bragged about their investing expertise during the stock market rally between 1996
and early 2000, then blamed analysts, brokers, and the Federal Reserve when the market
imploded in 2000. These investors were most probably guilty of what?
40) What term is used for the tendency of an individual to attribute his own successes to internal
factors while putting the blame for failures on external factors?
41) Operations stage toolkit for the Data Analysis and Solution Development phase include(s):
42) The phenomenon of magnification of demand variability as we move from the customer to
the producer in the supply-chain is referred to as the:

3. 43) According to David Maister, the most complex projects requiring innovation and creativity
are called _________.
44) Which of the following according to Goldratt is not a component of production cycle time?
45) Which of the following would NOT be classified as a time-series technique?
46) Which of the following statements is true?
47) “Hard” capital rationing refers to the rationing __________.
48) Due to asymmetric information, the market fears that a firm issuing securities will do so
when the stock is _________.
49) An investor's risky portfolio is made up of individual stocks. Which of the following
statements about this portfolio is true?
50) __________ says to look for opportunities to invest in positive-NPV projects in foreign
markets or to develop derivatives or design arrangements that enable firms to 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) __________ says to recognize the value of hidden options in a situation, such as the foreign
exchange options in some derivative instruments.
53) Which of the following statements is true?
54) A checking account is __________.
55) Under capital rationing, given the choice among several equally attractive investments, the
best tool to use is the __________.
56) __________ says to recognize the value of options contained in derivatives.
57) The managerial decision best addresses which of the following questions?
58) __________ says that if you transfer risk to another party, you must offer a return that fully
compensates for the amount of risk transferred.
59) According to the Principle of Risk-Return Trade-Off, investors require a higher return to
compensate for __________.
60) Which of these investments would you expect to have the highest rate of return for the next
20 years?
61) Dimensions of risk include __________.
62) You work for ABC, Inc. in the finance department. You own shares in ABC, Inc. that are
selling at $20 per share on the NYSE. You just found out they will have a new stock offering.
You just found out they will publicly announce a new stock offering. The costs from the offering
will be 10% of the new offering. The new offering will increase the number of outstanding share
by 30%. There are currently 20,000,000 shares of ABC outstanding. Once the announcement is
made public, what might be the expected impact from transaction (or issuance) costs on each
share you own?
63) Which of the following is (are) true?
64) 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 business report and find out that

4. Magic Tape’s stock has announced that insiders have sold 10% of their holdings. You are
concerned because you own 1,000 shares of Magic Tape and it had closed the day before
unchanged at $30 per share. If markets are at least semi-strong form efficient, what would you
expect?
65) Incremental analysis would not be appropriate for
66) Baden Company manufactures a product with a unit variable cost of $50 and a unit sales
price of $88. Fixed manufacturing costs were $240,000 when 10,000 units were produced and
sold. The company has a one-time opportunity to sell an additional 1,000 units at $70 each in a
foreign market which would not affect its present sales. If the company has sufficient capacity to
produce the additional units, acceptance of the special order would affect net income as follows:
67) Which one of the following characteristics would likely be associated with a just-in-time
inventory method?
68) For what purpose is the theory of constraints used?
69) Which decision will involve no incremental revenues?
70) Important factors considered by sales forecasters include all of the following except _____.
71) _____ is an important factor considered by sales forecasters.
72) A _____ gives the expected sales under a given set of conditions.
73) Which of the following does not appear as a separate section on the cash budget?
74) A variable cost is a cost that
75) A company has total fixed costs of $120,000 and a contribution margin ratio of 20%. The
total sales necessary to break even are
76) A cost which remains constant per unit at various levels of activity is a
77) How much sales are required to earn a target net income of $128,000 if total fixed costs are
$160,000 and the contribution margin ratio is 40%?
78) An absorption-costing income statement separates cost into the major categories of_____.
79) The last step in activity-based costing is to
80) The first step in activity-based costing is to
81) There is no difference between variable-costing and absorption-costing income if there is
no_____.
82) _____ are profitability ratios.
83) Which statements describe the principal reason(s) why investors and creditors use financial
statement analysis? 1. To assess the risks associated with expected returns 2. To establish
recommended dividend and interest payments 3. To evaluate top and middle level management
4. To predict the amount of expected returns
84) _____ are sections of the balance sheet.
85) A local retail shop has been operating as a sole proprietorship. The business is growing and
now the owner wants to incorporate. Which of the following is not a reason for this owner to
incorporate?
86) Although the U.S. has had a longstanding agreement with ___________, after the passage of
NAFTA, _________ became the United States' second largest trading partner.

5. 87) One study found that manufacturing labor costs about ___ an hour in China, compared to
____ dollars in the United States.
88) Which of the following is not one of the Caux Round Table Principles for International
Business?
89) Which social responsibility theory has been advocated by Novel Prizewinning economist
Milton Friedman?
90) Diversity training programs are generally intended to provide a vehicle for _____.
92) Which of the following is correct about litigating commercial disputes?
93) When an economist says that the demand for a product has increased, this means that:
94) If consumer incomes increase, the demand for product Y will _____________.
95) 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 the following?
97) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled
by information technologies.
98) Which research design listed below is most appropriate for establishing causality?
99) Which of the following statements is true concerning the applicability of attitudes in
understanding behavior?
100) The quartile deviation is: