mgmt final

Why is it important for managers to address workplace negativity as soon as possible?

To prevent the erosion of employee morale

Negative reinforcement encourages a particular behavior to be repeated through the reduction, removal, or absence of an unpleasant outcome.

True

For goals to function as a motivator, the employee must believe in their ability to meet that goal.

True

Which theory of motivation connects an employee's efforts to the outcome they think will result from those efforts?

Expectancy theory

What is the first step in implementing a performance management system?

Employees and managers must agree on goals

Belief in your ability to complete a task is known as ________.

self-efficacy

When employees are rewarded with bonuses or other perks for achieving a goal, what type of incentive is the firm using?

Incentives

At the top of Maslow's hierarchy is self-actualization need.

True

In order for goals to function as a motivator, what has to occur?

Organizational culture has to support individual achievement

Which of the following is a limitation of the goal-setting theory?

Missed learning opportunities

In the Herzberg’s two factor theory, hygiene factors are

Associated with dissatisfying factors and experiences

Management by objectives is a motivational approach where managers set specific goals for each employee

False

How can an employer make jobs more challenging and interesting while expanding the range of skills required with their own role?

Job enrichment

Which of the following refers to a model suggesting that five core job dimensions influence three critical psychological states that determine motivation, performance, and other outcomes?

Job Characteristics model

According to the job characteristics model, the employee's perception of the impact the job has on the lives of other people is called

Task Significance

What is gamification?

Applying game principles to existing business processes

According to Maslow, what type of personal need is the need to become everything one can be?

Self-actualization

In the workplace, motivation can be assessed by measuring four indicators: satisfaction, engagement, rootedness, and ________.

commitment

Encouraging the repetition of a particular behavior by removing an unpleasant consequences for the behavior is called ________.

negative reinforcement.

How does positive reinforcement encourage a behavior to be repeated?

By offering pleasant consequences for a particular action or behavior

When evaluating job requirements, which of the following tries to identify the nature and demands of a position, and the best employee profile to fill the position?

Job analysis.

New employee orientation programs are used to teach new employees about rules and expectations

True

\New employee orientation programs are used to teach new employees about rules and expectations

Job Specification

What is the process of gathering information about the demands, responsibilities and worker requirements of each position in the organization?

Job Analysis

Flextime allows two employees to share a single full-time job and split the salary and benefits

False

Which of the following enables employees to acquire shares in a company?

An employee stock-ownership plan

The various characteristics and experiences that define individuals is called

Diversity

Employee retention programs ________.

ensure a steady supply of experienced employees for new opportunities

Similar to profit sharing, ________ refers to tying rewards to profits or cost savings achieved by meeting specific goals, such as productivity improvement plans.

gain sharing

Employee benefits refer to ________.

compensation other than wages, salaries, and incentive programs

How can a firm promote fairness in its recruiting process?

Using the blind assessment process

Quality of hire means ________.

The value an employee brings in terms of supporting long-term success.

What is the purpose of a collective bargaining agreement?

o To outline everything the two sides have agreed to

Quality of hire measures ________.

o the value an employee brings in term of supporting long-term success

15. Onboarding programs help new employees better understand their specific roles, and get comfortable with organizational culture.

True

16. Typically, labor unions seek to protect employee interests by ________.

o negotiating with employers for better wages and benefits

17. What can a company do to help employees with disabilities perform activities that might otherwise be difficult or impossible for them?

o Invest in assistive technologies

18. New employee orientation programs are used to teach new employees about rules and expectations

True

19. Where can a description of the personal attributes needed by a candidate to do well on the job be found?

job specifications

1. A firm’s marketing mix consists of product, price, distribution, and customer communication

True

2. Organizational purchasing differs from consumer purchasing in that organization purchasing _______.

o It involves closer relationships with buyers and sellers

3. How do wants differ from needs?

o Wants are based on your needs but are more specific

4. Which of the following is an example of diversification?

o Creating new products that will be sold in new markets

5. Creating new goods and services for a forms current market is called _____.

o Product development

What is the process of dividing a diverse market by grouping customers with similar characteristics, behaviors, and needs?

o Market Segmentation

7. In which of the following do marketers invite customers to choose what information genuinely interest them?

o Permission-based marketing

8. How do wants differ from needs?

o Wants are more specific

9. Producers do not create needs, but they do try to shape your wants by exposing you to attractive choices

True

10. Creating new goods and services for a firm's current markets is called ________.

o Product development

11. Ethnographic research refers to research that measures brain activity while customers are viewing or interacting with products, websites, or other elements.

Fasle

12. The process of collecting and interpreting information about customers, competitors, and other related marketing issues is known as ________.

o Marketing research

13. Unlike surveys, focus groups ________.

o are not designed to collect statistics that represent a larger group

14. Which of the following is an example of diversification?

o Creating new products what will be sold in new markets

1. Why are prototypes used during the product development process?

o To analyze usability, manufacturability, and appeal

2. Which of the following is an example of a fixed cost?

o Cost of insurance premiums

3. Variable costs are not dependent on the volume of production.

False

4. Co-branding is _______.

o A partnership to closely link brand names for a single product

5. Research and development is usually carried out during the ________ stage in the product life cycle.

o Introductory

6. Price elasticity is a measure of the sensitivity of ________ to changes in price

o Demand

7. Which pricing model is used to continually adjust prices to reflect changes in supply and demand?

o Dynamic pricing

8. Which type of products are everyday individual goods and services that people buy frequently without much conscious planning

o Convenience products

9. Product life cycle refers to the four distinct stages in sales and profits through which a product progresses

True

10. Dynamic pricing refers to offering temporary price reductions to stimulate sales

False

11. Commercialization refers to the large-scale production and distribution on products that have survived the testing process

True

12. Which of the following is an example of a variable cost?

o Raw material

13. A product carrying the label of wholesaler is an example of a private brand

True

Which of the following pricing methods is characterized by charging a high price for a new product during the introductory stage and lowering the price later?

o Skim Pricing

15. The ________ stage of the product life cycle is marked by a rapid increase in sales.

o Growth

16. Algorithmic pricing is a computer based pricing method

True

17. In ________, the seller doesn't set a firm price. Instead, buyers competitively propose the prices that they are willing to pay.

o Auction pricing

When customers are charge a recurring fee for the right to continue to use a good or service, which pricing model is the company using?

Subscription pricing

Particular brands that the buyer especially wants and will seek out regardless of location or price are referred to as ________.

specialty products

Which pricing method sets prices based on customer perceptions of a product's worth?

Value-based pricing

1. How do companies use product placement strategies to promote their products?

o By paying to have their brand displayed during television shows, movies, and video games

2. Advertising that seeks to create goodwill and to build a desired image for a company, rather than to promote specific products, is termed as ________.

o Institutional advertising

3. Understanding the needs of a customer is critical in the personal selling process when ________.

o Aligning with customer's needs

4. Brand communities refer to formal or informal groups of people united by their interest in and ownership of particular products

True

1.       A promotional strategy that directly targets consumer demand via advertising and other communication efforts is known as ________.

o pull strategy

6. The single most important idea the company hopes to convey to its target audience about a product is the ________.

o core message

7. Which of the following refer to printed or digital certificates that offer discounts on particular items and are redeemed at the time of purchase?

o Coupons

8. Why is it important to establish clear communication and specific goals when developing marketing objectives

o To reach the target audience based on where they are in the purchasing cycle

9. Word-of-mouth marketing is often called ________.

o viral marketing

10. Display ads allow customers or website visitors to opt-in to mailing lists.

o False

11. How do wholesalers and retailers create time utility for the customer?

o By eliminating the need for the customer to contact each manufacturer

12. A promotional strategy that encourages intermediaries to carry a product and remote it to the final customer is termed as ________.

o push strategy

13. Automated writing technology works to ensure your thoughts are crafted in writing as effectively as possible

o False

14. Distribution strategy refers to a firm's overall plan for moving products through intermediaries and on to final customers.

True

15. Reminder advertising tells past customers that a product is still available or a company is ready to serve their needs.

True

16. Unlike retailers, wholesalers primarily sell products to consumers for personal use.

o False

17. Companies can use AI systems to generate text such as product descriptions on websites and routine customer communications

True

18. Business-to-business advertising relies heavily on emotional appeals

False

19. Retailers differ from wholesalers in that retailers ________.

o primarily sell products to consumers for personal use

20. Using personalized letters and email messages to deliver targeted messages to individual consumers or organizational purchasers would be classified as ________.

o Direct Marketing

1. Short selling refers to selling _______.

o selling borrowed stock and rebuying later at a lower price

2. The cost of capital is the average rate of interest a firm pays on its combination of debt and equity.

o True

3. A loan that is paid back in installments over an extended period of time is an example of a ________.

o long-term loan

4. Stock exchanges are organizations that _______.

o facilitate the buying and selling of stock

5. A ________ is a planning and control tool that reflects expected revenues, operating expenses, and cash receipts and outlays

o Budget

6. Asset allocation is performed to ________.

o protect against significant declines in any one investment vehicle

7. A bear market is characterized by ________.

o a long-term trend of falling stock prices