ACP Business Midterm

Allowing some employees to work at home part-time is

a flexible scheduling strategy.

An employee who is emotionally involved and committed to his or her work is said to be

engaged.

The Hawthorne studies were important because they

revealed the significance of social and psychological factors on productivity.

Which statement accurately reflects the two strategies used in Skinner's behavior modification theory?

In general, rewarding appropriate behavior is a more effective way to modify behavior than punishing unacceptable behavior.

Job ________ incorporates motivational factors such as opportunity for achievement, recognition, responsibility, and advancement into a job.

enrichment

Tasty Jay is a chain of small coffee shops that are located in college towns and mostly employ students. The company offers flexible scheduling, employee scholarship programs, and opportunities for advancement. As a result, it has loyal employees who have high levels of productivity. Based on this scenario, employees of Tasty Jay should have

high morale.

How can managers avoid equity problems?

Ensure that rewards are distributed on the basis of performance.

Companies that are concerned with boosting workplace morale, maximizing employees' productivity and creativity, and motivating employees to be more effective are concerned with

human relations.

According to Maslow's theory, a ________ person feels that he or she is living life to its fullest in every way.

self-actualized

According to Herzberg's theory, what is a motivational factor?

recognition

A work program that allows employees to choose their starting and ending times, as long as they are at work during a specified core period is called

flextime.

A compressed workweek is most likely to

reduce a company's operating expenses.

Low morale is likely to result in

absenteeism.

McGregor's Theory Y assumes that workers

naturally like to work.

What is an advantage of allowing employees to telecommute?

It helps reduce overhead costs for businesses.

In the United States, workers' ________, as defined by Maslow, have largely been met by minimum-wage laws and occupational-safety standards set by various government agencies.

physiological and security needs

An inner drive that directs a person's behavior toward goals is called

motivation.

Carson has recently begun a role as a software programmer. He doesn't particularly enjoy the work, but he works hard because he is compensated well and has a flexible work schedule. Carsonis motivated by

extrinsic reward.

Natasha manages a fitness club, which employs front desk personnel, personal trainers, and fitness instructors. She wants to motivate her employees to work hard and maintain high levels of productivity. What should Natasha do to boost employee morale?

Provide adequate compensation and promotion opportunities for employees.

According to the classical theory of motivation, what would motivate employees to work hard?

financial incentives

What is a major advantage of piece wages?

They motivate employees to increase productivity.

Headhunters specialize in

looking for qualified candidates who are working for other companies.

When an employee moves to a new job that involves more responsibility and an increase in compensation, this transition would typically be considered a(n)

promotion

A mentor can be described as

an experienced employee who supports, trains, and guides a new employee.

________ are nonfinancial forms of compensation provided to employees.

Benefits

The objective of collective bargaining negotiations is for labor and management to come to an agreement on

a labor contract.

The difference between an arbitrator and a mediator is that

an arbitrator's solution to a labor dispute is binding on the participants, while a mediator's solution is not binding.

Why do many firms have a policy of giving first consideration to their own employees?

The cost of hiring current employees to fill job openings is inexpensive.

What is the significance of the "cost-of-living adjustment" clause in labor contracts?

It calls for automatic wage increases during periods of inflation.

What is a side effect of employee turnover due to employees quitting or being fired?

an increase in recruitment costs

What should managers do to avoid lawsuits from individuals who feel they have been fired unfairly?

document all problems and warnings in the employee's work records

A company needs to hire three new employees. It wants to select people from a pool of qualified applicants. What is the process of forming this pool of applicants?

recruitment

Which person is most likely compensated through a salary?

Brandon, who works as a hospital administrator.

A job ________ describes the qualifications necessary for a specific job, in terms of education, experience, personal characteristics, and physical characteristics.

specification

Orientation is the human resources function that

includes building tours, introductions, and socialization.

In the United States, wage differences between women and men are acceptable if they are

attributed to seniority.

What form of compensation includes an employee stock ownership plan?

profit sharing

Max is a manager in a warehouse, and he needs to hire a new assistant manager. What is the first stage of the selection process?

the application

Which stage of the selection process may require a candidate to undergo physical examinations to determine his or her suitability for a specific job?

testing

A Westinghouse employee's performance might be judged by how many circuit boards they typically produce in one day or by how many of their boards have defects. This is an example of a(n)

objective assessment.

According to the market orientation, profits can be obtained through

acquiring new customers.

Cari owns a rustic furniture store in Vermont. When customers buy her unique furniture pieces, she arranges a time for her employees to deliver the furniture to their homes using her delivery truck. This is an example of

transporting.

A local coffee house offers its customers live music, open microphone nights, free internet access, and comfortable seating so they can enjoy their coffee with friends or while working. In the case of this company, which statement is most likely true?

The tangible product itself may not be as important as the benefits associated with the product.

Lea decides to hire a celebrity to recruit a new product line of athletic equipment. The endorsement is expensive, and the athletic equipment will need to have strong sales to offset the cost of advertising. Which function of marketing does this represent?

risk taking

The market orientation approach emphasizes

determining what customers want first and then producing it.

The first step in developing a marketing strategy is

selecting a target market.

In the context of the evolution of the marketing concept, the production orientation was characterized by

new technologies that made it possible to manufacture goods with ever increasing efficiency.

In the ________ approach, the marketer aims its marketing efforts at two or more segments, developing a marketing strategy for each.

multisegment

A group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas is referred to as

marketing

To gain an edge, businesses must

continually alter, adapt, and develop products to keep pace with changing consumer needs.

Marketing is an important part of a firm's overall strategy. It is therefore important that

all the functional areas of the business are coordinated with marketing decisions.

________ refers to standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality.

Grading

In the ________ approach to market segmentation, a company develops one marketing strategy for a single market segment.

concentration

Through ________, marketers ascertain the need for new goods and services.

marketing research

Why does the total-market approach work best for sellers of salt, sugar, and many agricultural products?

Everyone is a potential consumer of these products.

In ________ marketing, all marketing efforts focus on one small, well-defined market segment that has a unique, specific set of needs.

niche

A golf club manufacturer has separate product lines for male and female golfers. It manufactures several types of golf clubs geared to each segment. Which basis of market segmentation is this company using?

demographic

If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education, which segmentation variable is the company using?

demographic

What condition must be met in order for an exchange to take place?

Buyers and sellers must be able to communicate about the "something of value" available to each.

In the context of the psychological variables of buying behavior, ________ is the process by which a person selects, organizes, and interprets information received from his or her senses.

perception

Which is the best example of a specialty product?

a designer bridal gown

Before introducing a new product, a prototype is created at the ________ stage.

product development

A company that has developed a new product sets the initial price of the product low in hopes that it can gain market share quickly. What pricing strategy does this represent?

penetration pricing

What is a reason a company would want its own warehouse?

to provide customers with more control over their goods

Industrial products such as lumber, cotton, and iron ore are classified as

raw materials.

A high-end manufacturer of men's cologne charges high prices for its cologne because customers associate high prices with superior quality. This is an example of

symbolic/prestige pricing.

What activity is associated with identifying products and is also used to help position a product appropriately for its target market?

branding

A ________ strategy uses promotion to create consumer demand for a product.

pull

A difference between advertising and publicity is that advertising

provides specific information to persuade a person to act, while publicity seldom calls for action.

What step in the personal selling process is associated with asking a prospect to buy a product?

closing

Selective distribution typically includes products like automobiles, major appliances, clothes, and furniture, and

uses only a small proportion of all available outlets to expose products.

________ encourages consumers to make purchases based on emotion rather than rational considerations about the price.

Psychological pricing

Layla markets kitchen accessories, such as can openers, garlic presses, and apple corers and slicers, by going to people's homes and giving face-to-face sales presentations. This is known as

direct selling.

When a company pays a television network to air its commercial, it is using

advertising

A product's ________ reflects the degree to which a good, service, or idea meets the demands and requirements of customers.

quality

A nationwide deli shop chain, introduces a new sandwich in the Northwest to try out its marketing strategy before offering the product across the country. Thus, this deli shop is in the ________ stage of the product development process.

test marketing

If a company is eliminating certain models of a product and cutting back on expenditures, the product is most likely in the ________ stage of the product life cycle.

decline

A product ________ is all the products offered by an organization.

mix

The financial value placed on an object involved in an exchange between a buyer and a seller is known as its

price

In what stage of the product development process are most new product ideas rejected because they seem inappropriate or impractical for an organization?

idea screening

The most flexible element of the marketing mix is

price.

One challenge that digital media has created for businesses is

the loss of privacy that comes with using digital media.

A factor that has sparked the rise of consumer-generated information is the

consumers' tendencies to trust other consumers over corporations.

________ occurs when criminals obtain personal information that allows them to impersonate someone else in order to use the person's credit to obtain financial accounts and make purchases.

Identity theft

________ permit website operators to track how often a user visits the site, what he or she looks at while there, and in what sequence. They also allow web users to customize services and content.

Cookies

________ describes how marketers use digital media to find out the opinions or needs of potential markets.

Crowdsourcing

Digital media differs from conventional marketing techniques in that digital media

make customer communications faster and interactive.

Marketers' ability to process orders electronically and increase the speed of communications, thereby reducing costs, inefficiencies, and redundancies, most likely relates to the ________ element of the marketing mix.

distribution

Which of the following protects intellectual property?

patents

Marketers that are considering using podcasting as a promotional tool need to recognize that most podcast users are

between 18 and 34 years old.

What type of marketing typically uses the Internet and mobile and interactive channels to develop communication and exchanges with customers?

digital

Pinterest and Instagram are social networking sites that use ________ and are being used by businesses to market themselves visually.

photo sharing

Which statement is true of both conventional marketing and digital marketing?

Both have to achieve the right marketing mix.

What trend is having a profound effect on marketing?

the increased tendency of consumers to publish their thoughts, opinions, reviews, and product discussions through blogs or digital media

What Google Analytics metric provides insight into where consumers live, what their interest are, and their mobile phone usage?

audience

Using an online monitoring and analytics tool allows companies to

better understand their customers.

In the context of digital communication, ________ is the ability of a marketer to identify customers before they make a purchase.

addressability

In the context of digital communication, ________ refers to the customer's ability to regulate the information they view as well as the rate and exposure to that information.

control

Due to consumer concerns about dishonest advertising, the ________ requires influencers to clearly disclose any connection they have with the brands they promote.

Federal Trade Commission

A start-up weight loss company has developed an online newsletter that highlights current health-related topics and details the company's weight loss products. The company sends an e-mail to potential customers with the first issue of the newsletter, along with a link for users to sign up to continue receiving the newsletter on a monthly basis. The company sets a goal that 45 percent of the people who receive the e-mail will sign up for future newsletters. What Google Analytics metric would be able to track whether the company has reached its goal?

conversions