The reason of the marketing idea is to rivet the attention of marketing managers on serving broad classes of __________ requires
supplier employee partner customer

In the research plan, the marketing researcher must define and delimit the problem that will be researched. Which of the following statements describes the type of information that should be included in this section?
A justification of the marketing research is unprofessional in this section or anywhere in the research plan.
The scope, that is, the limits of the research effort, should be described in this section.
This section should explain in detail the type of marketing information that will be gathered.
All of the above statements accurately define this section.

For the marketing manager, social class offers some insights into consumer behavior and is potentially useful as a:
market research information.
market segmentation variable.
source of understanding competition's strategy.
source to predict future trends.

__________ is the type of organizational purchase associated with just-in-time inventory.
Modified rebuy
Just-in-time purchase
Straight task buy
Straight rebuy

Products are generally classed according to two basic criteria. What are they?
New products and old products
Small products and new products
End use and degree of processing
Value pricing and quality discounts

An integrated approach to marketing communications:
focuses on mass marketing and customer acquisition.
is most interested in making transactions.
strives to create brand messages with strategic consistency.
uses a stable of promotional agencies.

Personal selling is an integral part of the __________ system.
marketing
financing
advertising
test market

Prestige pricing, odd pricing and __________ pricing are three types of psychological pricing strategy.
organizational
strategic
bundle
assured

Over the course of the past 40 years, the fastest growing segment of the American economy has been the:
management of major accounts.
production of tangible products.
performance of services.
production of consumer electronics.

Tariffs, import quotas, and other types of import restrictions hinder global business. These are usually established to promote __________, and these can be a huge road block for multinational firms.
trade relations
self-sufficiency
dependency
conflicting interests

Which of the following is a characteristic of management accounting?
It must follow generally accepted accounting principles.
It is used primarily by internal users.
It is concerned primarily with reporting past performance.
It uses historical costs as the sole measurement unit.

An example of a period cost is:
advertising costs.
indirect materials.
product design costs.
direct materials.

Which of the following is not an objective of product costing systems?
To provide information for cost planning
To assist in the preparation of the income statement
To determine the optimal amount of products to manufacture
To provide information for product pricing

Which of the following entities probably would use a process costing system?
An oil refinery
A yacht builder
A custom furniture company
A custom screw manufacturer

Activity-based management includes all of the following except identifying:
customer satisfaction with a product or service.
the resources that are consumed by each activity.
activities as value-adding.
how resources are consumed by each activity.

An insurance company pays its employees a commission of 6 percent on each sale. What is the proper classification of the cost of sales commissions?
Constant cost
Variable cost
Mixed cost
Fixed cost

Which type of budgeting utilizes employees at all levels of the company?
Group budgeting
Selective budgeting
Target budgeting
Participative budgeting

Standard costs are useful for all but which of the following?
Determining actual costs
Preparing budgets and forecasts
Evaluating the performance of workers and management
Helping to develop appropriate selling prices

An example of a pricing objective is to:
ignore long-term pricing strategies in favor of short-term profits.
increase market share irrespective of the cost of a product.
maintain a price that is always under that of the competition.
maintain a minimum rate of return.

The overall objective of controlling the costs of quality is to eliminate:
appraisal costs.
costs of nonconformance.
costs of conformance.
the costs of quality.

What is the primary goal of financial management?
Increased earnings
Maximizing cash flow
Maximizing shareholder wealth
Minimizing risk of the firm

Reinvested funds from retained earnings theoretically belong to:
bond holders.
common stockholders.
employees.
All of the above

Industries most sensitive to inflation-induced profits are those with:
seasonal products.
cyclical products.
consumer products.
high-profit products.

The key initial element in developing pro forma statements is:
a cash budget.
an income statement.
a sales forecast.
a collections schedule

At the break-even point, a firm's profits are:
greater than zero.
less than zero.
equal to zero.
Not enough information to tell

Under what conditions must a distinction be made between money to be received today and money to be received in the future?
A period of recession.
When idle money can earn a positive return.
When there is no risk of nonpayment in the future.
When current interest rates are different from expected future rates.

If in determining the yield to maturity on a bond at a given interest rate, you get a value below the current market price, in the next calculation you should use:
a higher interest rate.
a lower interest rate.
a longer maturity.
a higher coupon payment.

The after-tax cost of preferred stock to the issuing corporation:
is the same as the before-tax cost.
is usually lower than the cost of debt.
is dependent on the firm's tax bracket.
None of the above

Cash flow can be said to equal:
income before depreciation and taxes minus taxes.
income before depreciation and taxes plus taxes.
income before depreciation and taxes plus depreciation.
income after taxes minus depreciation.

If three investment alternatives all have some degree of risk and different expected returns, which of the following measures could best be used to rank the risk levels of the projects?
Coefficient of correlation
Coefficient of variation
Standard deviation of returns
Net present value

ABC Company hangs signs on its walls saying, "Trust is one of our guiding principles." This is an example of a(n):
exposed-value.
enacted value.
cultural norm.
observable artifact.

Societal culture is shaped by all of these environmental factors except:
ethnic background.
religion.
assumptions and expectations.
political; legal setting.

According to a survey of students from 31 countries worldwide, a __________ correlation was found between self-esteem and self-satisfaction.
moderate positive
strong positive
low negative
moderate negative

Marjorie has no tolerance for negative inequity. She can be described as a(n):
benevolent.
a comparison other.
sensitive.
entitled.

Graduating from high school, Susan needs to apply for college admission. To determine which colleges to apply to, Susan requested information from 64 universities, compared them on six criteria important to her, and chose to apply to seven universities. This process can be described as a:
decision making process.
brainstorming process.
Delphi technique process.
representative heuristics

Which of the following believed that all conflict ultimately threatens management's authority and thus had to be avoided or quickly resolved?
OB specialists
Human relationists
Scientific Management experts
TQM advocates

Alex is to inform her subordinates that the expense reimbursement policy for travel has been significantly modified. Alex would be considered which of these?
Decoder
Medium
Sender
Noise

Which of these influence tactics is the LEAST used in the workplace?
Inspirational appeal
Ingratiation
Pressure
Consultation

Which of these is NOT a common denominator of all organizations?
Division of labor
Centralized decision making
A common goal
A hierarchy of authority

ABC Trucking, conducted an analysis of employee job satisfaction and turnover, and concluded that its turnover rate was 48%. This was primarily attributed to job dissatisfaction by employees. This represents a(n) __________ for ABC.
external force for change
social and political pressure
technological advancements
internal force for change

Which of the following does NOT usually function as an entry barrier?
Economies of scale
High strategic stakes
Product differentiation
Switching costs

A challenge in conducting an external analysis is that:
brand loyalty is low.
markets may be concentrated.
markets may be fragmented.
forecasts aren't facts

A long-term contract is usually an agreement between:
two organizations in the same industry.
an organization and its suppliers.
two organizations in unrelated industries.
a domestic and international organization.

The product-market evolution matrix is based on the:
industry analysis.
product life cycle.
internal strengths and weaknesses.
opportunities and threats.

An organization's __________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.
mission statements
vision statements
strategies
objectives

Ethics can be defined as:
the obligation of organizational decision makers to make decisions and act in ways that recognize the interrelatedness of business and society.
the intentional and ongoing actions of an organization to continuously transform itself by acquiring information and knowledge.
the rules and principles that define right and wrong decisions and behavior.
making decisions and implementing strategies that allow an organization to develop and maintain a competitive advantage.

Characteristics of dynamic capabilities include all of the following EXCEPT:
timely responsiveness.
reactive responsiveness.
rapid and flexible product innovation.
coordinating and deploying organizational resources and capabilities.

The role of top-level decision makers in the strategic management process is to:
develop the overall goal that the organization hopes to achieve.
establish the overall operational goals.
establish functional strategies.
supervise line managers.

Which of the following are strategic factors often used in depicting strategic groups?
Image and quality
Quality and price
Distribution access and image
Market share and image

__________ is an arrangement in which a foreign firm buys the rights to manufacture and market a company's product in that country for a negotiated fee.
Direct investment
Joint venture
Franchising
Licensing