J211 Exam 2- myeducator mark, ops, fin 1,2,3

The path to profitability starts with _________.

understanding customers within the context of the marketing environment

Marketing creates, communicates, and delivers value to the firm's chosen customers. This enables the firm to attract and keep customers. Attracting and keeping customers drives ____________________ for the firm.

profitability

For every pair of Toms shoes purchased, the company donates a pair of shoes to a child in need. Which marketing philosophy does Toms use?

societal

Marketing strategy addresses a specific target market with a cohesive marketing mix of __________.

product, price, place, promotion

How do I come up with a killer product idea?

Ask, "What problems are people trying to solve?"

Eco Tech Inc. takes advantage of its ability to mass-produce water filters at relatively low costs, which its competitors cannot replicate. This is an example of which part of the SWOT analysis?

strength

Old Navy sells fashionable clothing for relatively low prices. What type of income is used to purchase clothing and other necessities from a retailer like Old Navy?

disposable income

Claire is the marketing manager for a new line of frozen food. The company wants to launch this new line in Asia. Claire knows that social forces affect consumers' attitudes, beliefs, lifestyle and ultimately consumption behavior. Which social force has the most influence on Claire's product line—affecting what people eat?

cultural factors

Andrew, a research analyst for Nestle, has been gathering information about age, gender, and income for the Scandinavian market. Andrew is gathering _________.

demographics

For the United States, people born during the same time period and who share similar life experiences represent _________.

generational cohorts

McDonald's serves approximately 68 million customers each day in 119 countries. The domestic consumer trend of eating healthier and consuming less fast food challenges McDonald's financial performance. This is an example which part of the SWOT analysis?

threat

Bulgari sells fashionable and expensive jewelry, watches, and leather goods. What type of income is used to purchase expensive jewelry and other luxury products?

discretionary income

All the following statements about "telling a story with data" are true, except...

include as many technical details as possible

The main goal of marketing analytics is to...

Improve return on investment from marketing activities

The main goal of data analytics is to...

Draw meaningful conclusions from raw business data

The main goal of data wrangling is to...

Turn messy data into something that is usable

All the following terms are included in the Three Vs of Big Data except...

High veracity

what are:

volume

variety

velocity

All the following questions can be answered with marketing analytics, except...

What do customers find personally relevant about our products?

To get the most out of marketing analytics, marketers first need to...

Understand the key managerial decisions and business context

An important Google Analytics tool to implement marketing analytics is called...

Conversion funnel

Conversion funnels do all the following, except...

Show marketers how to improve drop off points

Big Data is valuable to Amazon, because it...

Enhances customer experience by making purchase recommendations

Understanding + _______________ + Execution = Winning Results

behavior

Which of the following is not an important source for ideas for KPIs that you should include as part of your balanced scorecard?

environmental scans

To use productivity measurement well, you need to ________________, ________________, and ________________.

Recognize performance has changed; Find out why; Take action

Which of the following is not a characteristic of a coach?

is always right

Which of the following is not one of the seven rights of an empowerment culture?

demand the right behavior

Which of the following is not one of the pillars of empowerment at Newmont Gold?

pay for performance

Lord Kelvin said, "When you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is _____________________."

of a meager and unsatisfactory kind

Which of the following is not a key measurement dimensions of a balanced scorecard's holistic dashboard?

stock price

what is:

Future Capability Development

Operational Excellence

Customer Expectations

financial performance

Whose job is it to innovate—that is, to bring the new products to market that customers want to buy?

Everyone is responsible for innovation

Based on its innovation strategy, your company might be a Need Seeker, Market Reader, or Technology Driver. Which of the following is the definition of a Need Seeker?

Go straight to customers to generate ideas.

In the Kimberly Clark example, researchers visited homes and observed parents and their children. Doing this allowed them to come up with a new product that parents with young children needed. What was this product?

pull-ups

____________ rely on a group of experts to gain insight into product characteristics and viability. Usually used when specialized or technical insight/opinion is needed.

expert panels

What is Marketing's contribution to the New Product Development Team?

Deep customer insight that leads to product ideas.

What is Operations' contribution to the New Product Development Team?

Technical expertise needed to translate designs into an actual product/service.

During the screening/scoping phase of new product development, you should ask two questions, which of the following are those questions?

Will the product meet the competitive test? Does the product really fit the product strategy?

In which step does target-costing take place at the component level?

step 5: engage in target costing process

Which of the following is not one of the three elements of the project management triangle?

method

what is:

scope

schedule

budget

What are the four steps of project planning?

Decompose, Delegate, Schedule, Evaluate

If you are trying to define a project's objectives, scope, feasibility and constraints, which phase of project management are you in?

initiating

Communicating what's in it for the other person is an important part of which of the 5Ws?

why

To help articulate and evaluate the value of your work project which 5W do you not include in your table?

which

After building the 5Ws table to begin to articulate your work project, what is your next step?

Create a simple mind map to decompose the project into sub-deliverables

Which of the following is not a key step in creating a Gantt Chart?

Sequence activities according to their range.

what is:

make a list of activities for a work package.

create an activity schedule.

display activities in a bar chart format.

Why do managers use Gantt charts?

To keep every work package in sight

What are the two axes on the risk prioritization matrix?

probability; impact

What are the two questions that need to be asked when assessing risk after you have identified them?

What is potential impact if the even does occur? What is the likelihood an event will occur?

Which of the following statements is NOT correct regarding the accrual-based accounting system?

Accrual accounting recognizes revenue only when cash is received.

The balance sheet equation is Assets = Liabilities + Owner's Equity. Which of the following best describes the logic behind this equation?

Assets must be financed by either other people's money or the owner's money.

Current assets are normally listed on the balance sheet in what order?

most liquid to least liquid

Accounts Payable represent money a firm owes to ________.

suppliers for purchases made on credit

Revenues - Cost of Goods Sold - Operating Expenses =

Operating profit

operating income

and EBIT

(all used interchangeably.)

Cost of goods sold includes which of the following elements? (Check all that apply.)

- direct materials and direct labor associated with the production process

In the basic framework for constructing the statement of cash flows, a firm can allocate net income to one of two items. These two items are ________.

dividends and retained earnings

Which of the following is true with respect to accrual accounting?

Amounts reported on the financial statements can be managed or manipulated without violating GAAP.

Assume a firm's reported revenue is constant from one year to the next. Which of the following is most plausible with respect to changes in the firm's Accounts Receivable balance?

increasing Accounts Receivable may mean the firm has not collected all the revenue reported in the current year.

Mapple and Doll are identical companies: both companies sell computers to identical clients, both recognize the same amount of revenue, and both purchased the same capital equipment at the same cost at the beginning of this year. However, Mapple's sales are 1/3 on credit while Doll's sales are 2/3 on credit. In addition, while both companies use straight-line depreciation, Mapple calculates depreciation of the new equipment based on an 8-year useful life, while Doll calculates depreciation based on 10-year life (i.e., Depreciation Expense = Cost of Machine ÷ Life of the Machine). Assume both companies had the exact same balance sheet at the beginning of the year. Which of the following statements is most likely correct?

Doll has a higher net income than Mapple.

Which of the following is NOT a component of the cash flow statement?

CFA- chartered financial analyst

When evaluating cash flows, an increase in an asset account on the balance sheet, such as Inventory or Fixed Assets, most directly indicates ________.

an outflow of cash

When calculating CFO with the indirect method, depreciation expense is added to net income. Why do we add depreciation expense when calculating CFO?

Depreciation expense is a non-cash expense.

Which one of the following is NOT true with respect to the usefulness of ratios?

Ratios provide definitive answers to questions about company performance.

For eBuy's industry, the 20X1 industry average current ratio and quick ratio were 1.55 and 1.38, respectively. Which one of the following is the most plausible statement when comparing eBuy's current and quick ratios in 20X1 to the industry average?

d. eBuy's inventory may be less liquid than the industry average.

OIROI is a good measurement of not only the efficiency but also the ___________ of a firm.

profitability

Which of the following is NOT a valid use of ratios?

reporting ratio deviations to the taxing authority

Percent of Sales steps

1. project sales revenues and expenses

2. forecast the change in spontaneous balance sheet accounts

3. deal with discretionary accounts

4. calculate retained earnings

5. determine total financing need

6. calculate discretionary financing needed

Which of the following methods can a firm use to decrease its DFN?

Reduce sales growth.

Recheck existing capital constraints.

Reduce dividend payouts.

Improve the net margin.

Suppose a company is planning to increase its dividend payout ratio next year. Given this information, which of the following cases do you expect to occur in the upcoming year?

an increase in discretionary financing needed