Str 581 final exam 3

1. STR 581 Final Exam 3
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1) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage
the innovation process.
2) A ________ is a set of procedures and sources managers use to obtain everyday
information about developments in the marketing environment.
3) A(n) ________ is any good, service, or idea that is perceived by someone as new.
4) 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.
5) ________ consists of people, equipment, and procedures to gather, sort, analyze,
evaluate, and distribute needed, timely, and accurate information to marketing
decision makers.
6) Most established companies focus on ________ when it comes to innovation.
7) ________ is the difference between the prospective customer’s evaluation of all
the benefits and all the costs of an offering and the perceived alternatives.
8) ________ is the result of a concentrated effort by designers, engineers, and
purchasing agents to reduce the product’s overall costs.
9) In ________ marketing, the seller engages in the mass production, mass
distribution, and mass promotion of one product for all buyers.
10) Marketers usually identify niches by ________.
11) Which of the following is generally considered to be the last step in the
marketing research process?
12) ________ is the systematic design, collection, analysis, and reporting of data and
findings relevant to a specific marketing situation facing the company.
13) With respect to the sampling plan, three decisions must be made. The decisions
are: the sampling unit—who is to be surveyed? Sample size—how many people
should be surveyed? And ________.

2. 14) The marketing communications mix consists of six major modes of
communications. Which of the following is NOT one of these modes?
15) Marketing communications can contribute to brand equity by establishing the
brand in memory and to________ (in)a brand image.
16) ________ communicates a company’s intended value positioning of its product
or brand to the market.
17) To reach Generation Y, rock band Foo Fighters created a digital street team that
sends targeted e-mail messages to members who “get the latest news, exclusive
audio/video sneak previews, tons of chances to win great Foo Fighters prizes, and
become part of the Foo Fighters Family.” Which of the following techniques for
reaching Generation Y are the Foo Fighters using?
18) New-to-the- world products are ________.
19) 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.
20) Price has operated as the major determinant of buyer choice among poorer
nations, among poorer groups, and with ________ products.
21) 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 ________.
22) “Power prices” use price as a key strategic tool. These “power prices” have
discovered the highly ________ effect of price on the bottom line.
23) A company can add new products through acquisition or development. The
acquisition route can take three forms. The company can buy other companies, it
can acquire patents from other companies, or it can buy a ________ or _________
from another company.
24) John Kotter’s view argues that management focuses on coping with complexity,
whereas leadership focuses on coping with _____.
25) Leadership is best defined as _____.
26) Which of the following is NOT included in the definition of conflict?
27) Negotiation can be defined as a process in which two or more parties exchange
goods or services and attempt to agree upon _____.

3. 28) _____ bargaining is negotiation that seeks to divide a “fixed pie.”
29) Which of the following statements about leadership is true?
30) Danielle wants to become a surgeon, not only because achieving this goal will
give her self-respect and autonomy, but also because she wants a job with high
status and recognition from others. Which of Maslow’s needs is Danielle trying to
fill?
31) _____ can be used to increase the perception that employees are treated fairly.
32) Examples of off-the-job training include all of the following except _____.
33) Training employees how to be better listeners falls under which of the following
training categories?
34) Which type of skill training has become increasingly important in organizations?
35) According to a recent survey, about ___ percent of employees working in the
1,000 largest U.S. corporations receive ethics training.
36) Organizational structure has six key elements. Which of the following is not one
of these elements?
37) Which of the following is not a primary force for change in organizations?
38) The “realistic” personality from Holland’s typology of personality and congruent
occupations would be well suited for which of the following jobs?
39) 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?
40) A task that is subdivided into many separate jobs is considered to have _____.
41) Under exponential smoothing, if we want our forecast to be responsive to recent
demand, the value of alpha should be:
42) Which of the following would NOT be classified as a time-series technique?
43) According to David Maister, the most complex projects requiring innovation and
creativity are called _________.
45) If the system contains a bottleneck, the _______ is the best place for control. If
there is no bottleneck, the __________ is the best place for control.
46) “Hard” capital rationing refers to the rationing __________.

4. 47) __________ 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.
48) __________ says to recognize the value of hidden options in a situation, such as
the foreign exchange options in some derivative instruments.
49) Under capital rationing, given the choice among several equally attractive
investments, the best tool to use is the __________.
50) An all-equity-financed firm would __________.
51) __________ says to seek out investments that offer the greatest expected risk-
adjusted real return.
52) A checking account is __________.
53) Due to asymmetric information, the market fears that a firm issuing securities
will do so when the stock is _________.
54) Which of the following statements is true?
55) Which of the following statements is true?
56) __________ says to recognize the value of options contained in derivatives.
57) __________ says to use derivatives to pay others to take risks.
58) The conversion price (for a convertible security) is usually adjusted __________.
59) The investment decision best addresses which of the following questions?
60) Dimensions of risk include __________.
61) According to the Principle of Risk-Return Trade-Off, investors require a higher
return to compensate for __________.
62) 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 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?
63) Which of the following is not an advantage of going public?

5. 64) Which of the following is not an advantage of going public?
65) 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 as
follows:
Product Sales Value at Split-off Processing Costs after Split-off Sales Value at
Completion
P $62,000 $5,000 $88,000
G 12,500 6,500 19,000
A 9,400 5,000 12,000
Product G _____.
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) Transfer-pricing systems exist to _____.
68) Which one of the following managerial accounting approaches attempts to
allocate manufacturing overhead in a more meaningful fashion?
69) The opportunity cost of an alternate course of action that is relevant to a make-
or-buy decision is
70) Which of the following does not appear as a separate section on the cash
budget?
71) Important factors considered by sales forecasters include all of the following
except _____.
72) Effectiveness is indicated by _____.
73) Beginning cash balance plus total receipts
74) A cost which remains constant per unit at various levels of activity is a
75) A variable cost is a cost that

6. 76) A company has total fixed costs of $120,000 and a contribution margin ratio of
20%. The total sales necessary to break even are
77) For an activity base to be useful in cost behavior analysis,
78) Identify which statement about "currently attainable standards" is NOT true.
79) Joint costs are incurred _____.
80) The last step in activity-based costing is to
81) In a process cost system,
82) The proprietorship form of business organization
83) Identify which one of the following statements is false.
84) 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?
85) _____ are sections of the balance sheet.
86) Although the U.S. has had a longstanding agreement with ___________, after
the passage of NAFTA, _________ became the United States' second largest trading
partner.
87) Diversity training programs are generally intended to provide a vehicle for
_____.
88) Which country does the text describe as becoming the largest producer and
consumer of many of the world's goods?
89) Which of the following is not one of the Caux Round Table Principles for
International Business?
90) One study found that manufacturing labor costs about ___ an hour in China,
compared to ____ dollars in the United States.
91) Which of the following is correct about litigating commercial disputes?
92) Which article of the United States Constitution deals with the judicial power of
the federal government?
93) When an economist says that the demand for a product has increased, this
means that:

7. 94) When movie ticket prices increase, families tend to spend less time watching
movies and more time at home watching videos instead. This best reflects:
95) The costs of delivering products in the _____ channel are much higher than
delivering products in the _____ channel.
96) Which of the following is NOT a function of functional area information
systems?
97) The Global, Web-Based Platform enables individuals to do which of the
following?
98) Companies normally budget marketing research at ________ percent of
company sales.
99) The assignment of numbers or symbols to a property of objects according to
value or magnitude is called _____.
100) A ________ has been defined as being a coordinated collection of data,
systems, tools, and techniques with supporting software and hardware by which an
organization gathers and interprets relevant information from business and
environment and turns it into a basis for marketing action.
STR 581 Final Exam 3
PLEASE DOWNLOAD THE ANSWERS HERE!!!