Str 581 final exam

1. STR 581 Final Exam
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1) Most established companies focus on ________ when it comes to innovation.
2) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage
the innovation process.
3) ________ is the difference between the prospective customer’s evaluation of all
the benefits and all the costs of an offering and the perceived alternatives.
4) ________ consists of people, equipment, and procedures to gather, sort, analyze,
evaluate, and distribute needed, timely, and accurate information to marketing
decision makers.
5) 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.
6) A(n) ________ is any good, service, or idea that is perceived by someone as new.
7) A ________ is a set of procedures and sources managers use to obtain everyday
information about developments in the marketing environment.
8) A firm has to consider many factors in setting its pricing policy. We list these as a
six-step process. Which of the following is NOT one of these steps?
9) The first step in estimating demand is to understand what affects price
sensitivity. Generally speaking, customers are most price sensitive to products that
cost a lot or are ________.
10) Particularly when shopping for ego-sensitive products such as perfumes and
expensive cars, many consumers use price as an indicator of ________.
11) Coca-Cola’s failure in promoting New Coke was largely due to a marketing
research barrier identified as ________.
12) Marketing research is now about a ________ billion industry globally.
13) Which of the following is generally considered to be the last step in the
marketing research process?

2. 14) New-to-the- world products are ________.
15) 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.
16) Major retailer types include the following EXCEPT ________.
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) 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.
19) “Power prices” use price as a key strategic tool. These “power prices” have
discovered the highly ________ effect of price on the bottom line.
20) The chief disadvantage to a firm that decides to follow a product specialization
strategy in selecting target markets is ________.
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) The marketing communications mix consists of six major modes of
communications. Which of the following is NOT one of these modes?
23) ________ communicates a company’s intended value positioning of its product
or brand to the market.
24) Which of the following statements best defines a work group?
25) Which of the following is NOT included in the definition of conflict?
26) John Kotter’s view argues that management focuses on coping with complexity,
whereas leadership focuses on coping with _____.
27) Which of the following statements about leadership is true?
28) The traditional view of conflict is the belief that conflict is _____.

3. 29) If no one is aware of conflict, it is generally agreed that _____.
30) Which level of Maslow’s hierarchy of needs deals with satisfying one’s hunger,
thirst, and need for sex?
31) Which of the following has proven to be a particularly good predictor for jobs
that require cognitive complexity?
32) Training employees how to be better listeners falls under which of the following
training categories?
33) Examples of off-the-job training include all of the following except _____.
34) Which of the following is NOT a typical written test used in organizations?
35) Examples of on-the-job training include all of the following except _____.
36) The “realistic” personality from Holland’s typology of personality and congruent
occupations would be well suited for which of the following jobs?
37) _____ developed a Vocational Preference Inventory questionnaire that contains
160 occupational titles.
38) An example of change in the nature of the work force is an increase in_____.
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) Which of the following is not a primary force for change in organizations?
41) The last stage in the operations consulting process is:
42) Which of the following would NOT be classified as a time-series technique?
43) Which of the following statements are true about time-series forecasting?
44) The previous forecast of 65 turned out to be four units less than the actual
demand. The next forecast is 66. What would be the value of alpha if the simple
exponential smoothing forecast method is being used?
45) Which of the following product promotional activities would probably help make
the supply chain more efficient?
46) An all-equity-financed firm would __________.
47) Which of the following statements is true?

4. 48) __________ 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.
49) Due to asymmetric information, the market fears that a firm issuing securities
will do so when the stock is _________.
50) “Hard” capital rationing refers to the rationing __________.
51) Under capital rationing, given the choice among several equally attractive
investments, the best tool to use is the __________.
52) A checking account is __________.
53) __________ says to recognize the value of hidden options in a situation, such as
the foreign exchange options in some derivative instruments.
54) An investor's risky portfolio is made up of individual stocks. Which of the
following statements about this portfolio is true?
55) Which of the following statements is true?
56) A key variable covered in our text for the Black-Scholes OPM is __________.
57) __________ says that if you transfer risk to another party, you must offer a
return that fully compensates for the amount of risk transferred.
58) Dimensions of risk include __________.
59) __________ says to recognize the value of options contained in derivatives.
60) According to the Principle of Risk-Return Trade-Off, investors require a higher
return to compensate for __________.
61) __________ says to use derivatives to pay others to take risks.
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 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?
64) Which of the following is not an advantage of going public?

5. 65) Which one of the following managerial accounting approaches attempts to
allocate manufacturing overhead in a more meaningful fashion?
66) A transfer price exists when two segments of the same organization sell _____.
67) 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 _____.
68) Which one of the following characteristics would likely be associated with a just-
in-time inventory method?
69) Incremental analysis would be appropriate for
70) The financing section of a cash budget is needed if there is a cash deficiency or if
the ending cash balance is less than:
71) Beginning cash balance plus total receipts
72) Important factors considered by sales forecasters include all of the following
except _____.
73) Effectiveness is indicated by _____.
74) A cost which remains constant per unit at various levels of activity is a
75) At the break-even point of 2,000 units, variable costs are $55,000, and fixed
costs are $32,000. How much is the selling price per unit?
76) How much sales are required to earn a target income of $80,000 if total fixed
costs are $100,000 and the contribution margin ratio is 40%?
77) A company has total fixed costs of $120,000 and a contribution margin ratio of
20%. The total sales necessary to break even are

6. 78) The first step in activity-based costing is to
79) The last step in activity-based costing is to
80) A standard cost is a unit cost that _____.
81) Absorption costing assigns _____ to the product.
82) The _____ is also called the statement of financial position.
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) The _____ is not one of the three major financial statements.
85) _____ are sections of the balance sheet.
86) Which country does the text describe as becoming the largest producer and
consumer of many of the world's goods?
87) The centerpiece of most diversity programs is _____.
88) The theory of business social responsibility that holds that a business owes
duties solely to produce the highest return for its shareholders is:
89) Diversity training programs are generally intended to provide a vehicle for
_____.
90) Which social responsibility theory has been advocated by Novel Prizewinning
economist Milton Friedman?
91) Which article of the United States Constitution deals with the judicial power of
the federal government?
92) Which of the following statements is generally NOT true about state
intermediate appellate courts?
93) When movie ticket prices increase, families tend to spend less time watching
movies and more time at home watching videos instead. This best reflects:
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.

7. 96) The costs of delivering products in the _____ channel are much higher than
delivering products in the _____ channel.
97) Which of the following is NOT a function of functional area information systems?
98) A _____ scale is a scale that scores an object or property without making a direct
comparison to another object or property.
99) Marketing research is now about a ________ billion industry globally.
100) The quartile deviation is:
STR 581 Final Exam
PLEASE DOWNLOAD THE ANSWERS HERE!!!