Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Marketing
Q:
When organizational buyers have well-defined criteria to apply to the purchase decision, but are uncertain about which suppliers can best fit their needs, they are operating in a stage of _____ problem solving.
a. cerebral
b. limited
c. selective
d. routinized
e. extended
Q:
The primary levels of marketing control include:
a. strategic control.
b. annual plan control.
c. efficiency and effectiveness control.
d. profitability control.
e. All of the above.
Q:
When designing the supply chain, firms should concentrate on creating____________________processes for functional products and____________________processes for innovative products.
Q:
Many business marketing strategists believe that firms should focus on product families instead of single products to improve planning.
Q:
All of the following are elements that determine how a firm chooses to compete except:
a. the business mission.
b. the product scope.
c. the basis for differentiation.
d. the core process processes.
Q:
When organizational buyers have well developed choice criteria to apply to the purchase decision, they are operating in a stage of problem solving known as:
a. cerebral response behavior.
b. limited response behavior.
c. selective response behavior.
d. routine response behavior.
e. extended response behavior.
Q:
The major forms of marketing control are:
a. control over the efficient allocation of marketing effort.
b. the comparison of planned and actual performance.
c. Both (a) and (b).
d. Neither (a) nor (b).
Q:
Supply chain management can improve overall company performance in two fundamental ways: ____________________ and ____________________.
Q:
All development projects center on either improving the manufacturing process or improving product, but not both.
Q:
Which of the following describes where the firm competes?
a. The business mission.
b. The product scope.
c. The market scope.
d. All of the above.
e. (b) and (c) only.
Q:
When buying influentials and decision makers lack well-defined criteria for comparing alternative products and suppliers and they also lack strong predispositions toward a particular solution, they are operating in a stage of _____ problem solving.
a. cerebral
b. limited
c. selective
d. routinized
e. extensive
Q:
_____ represents the portion of total purchases in a product and service category that a customer makes from the firm.
a. Share-of-wallet
b. Market share
c. Marketing reach
d. Feedforward control
Q:
Central to SCM are the coordination and collaboration activities performed with channel partners, which may include____________________, ____________________, third party____________________, and____________________.
Q:
A detailed market research study and a preliminary business/financial analysis is an example of predevelopment proficiency.
Q:
The overall objectives of the strategy that sets a course of direction and defines a set of performance criteria that will be used to measure progress is called the:
a. business mission.
b. product scope.
c. market scope.
d. basis for differentiation.
Q:
The problem solving approach followed by an organizational buyer in a modified rebuy situation is:
a. limited.
b. selective.
c. routinized.
d. extended.
e. cerebral.
Q:
Which of the following are interrelated evaluations that are required to design a marketing strategy?
a. How much should be spent on marketing in the planning period?
b. How are marketing dollars to be allocated?
c. Within each element of the marketing strategy, how should dollars be allocated?
d. Which segments, products, and geographic areas are most profitable?
e. All of the above.
Q:
Innovative approaches to tighten the distribution process, bolstering links with suppliers and customers, and integrating production and marketing is described by the term ____________________management.
Q:
Competitors are less motivated to react to a new production introduction when the market is experiencing a high rate of growth.
Q:
A business concept or model consists of the following major components except:
a. core strategy.
b. strategic resources.
c. customer interface.
d. value network
e. negotiated outcomes.
Q:
The problem solving approach followed by an organizational buyer in a new task buying situation is:
a. selective.
b. extensive.
c. cerebral.
d. systematic.
e. none of the above
Q:
The _____ of the Balanced Scorecard describes the human capital, information capital, and organizational capital that must be aligned with strategy.
a. financial perspective
b. customer perspective
c. internal perspective
d. learning and growth perspective
Q:
A measure of the physical conditions of the product when received by the buyer is known as____________________, this common element of logistics service.
Q:
New product ventures require systematic thought.
Q:
In developing strategic plans, managers who represent the various business functions in the firm often hold different views concerning the best strategic course. Why?
a. Because different functions are rewarded for different things.
b. Because each function often reflects a unique orientation or thought world.
c. Because some functions are oriented toward short-term objectives while others center on long-term goals.
d. All of the above.
e. (a) and (c) only.
Q:
As a result of poor delivery performance by a supplier of high quality metal components, Jim Houser, purchasing agent at Milton Toy Company, plans to consider a possible change in suppliers. This provides an illustration of:
a. the backlash effect.
b. routinized problem solving.
c. a modified rebuy.
d. a straight rebuy.
e. selective perception.
Q:
When using strategy maps, shareholder value can be created via:
a. long-term revenues.
b. short-term productivity.
c. product differentiation.
d. All of the above.
e. Only (a) and (b).
Q:
____________________ increases the speed of, and reduces the cost of, picking orders in the warehouse and moving products between storage and the transportation carriers.
Q:
Improvisation involves activities in which the design and execution of actions approach convergence with each other in time.
Q:
Responsibility charting constitutes an approach that can be used to classify decision-making roles and to highlight the multifunctional nature of business marketing decision making. A manager who takes initiative for analyzing a situation, developing alternatives, assuring consultation with others, and who makes initial recommendations is performing which of the following roles?
a. responsible
b. approve
c. consult
d. implement
e. inform
Q:
Mary Bronson, purchasing manager for the Los Angeles Tool Company, placed her quarterly order for supplies from the Gibson Paper Company. Mary has been dealing with Gibson for many years. What type of problem solving would Mary employ in this purchase decision?
a. routine problem solving
b. casual problem solving
c. limited problem solving
d. extended problem solving
e. specialized problem solving
Q:
Which of the following are steps in the planning process that utilizes the Balanced Scorecard and a Strategy Map to build a tightly integrated marketing strategy?
a. Define Financial Objectives.
b. Define the Customer Value Proposition.
c. Identify the Critical Strategic Themes and Internal Processes.
d. All of the above.
e. Only (a) and (b).
Q:
The ____________________, or trade-off, approach to logistical management guarantees to minimize total logistical costs in the firm and within the channel.
Q:
For well-known markets and technologies, a compression strategy speeds development.
Q:
Responsibility charting provides a tool for defining decision-making roles. A manager who accepts or vetoes a decision before it is implemented, or chooses from alternatives developed by others, is performing which of the roles?
a. responsible
b. approve
c. consult
d. implement
e. inform
Q:
The purchase of an expensive piece of material handling equipment would be classified as:
a. a new task buying situation.
b. a modified rebuy.
c. a straight rebuy.
d. any of the above.
e. none of the above.
Q:
Marketing managers who are flexible and intelligent in dealing with the firm's information and control systems are exhibiting good _____ skills.
a. monitoring
b. allocation
c. interacting
d. organizing
Q:
The focus of____________________in the supply chain for business marketers is the flow of product through the supply chain, with timely information driving the entire process.
Q:
Cross-functional teams appear to work best when the products are familiar, such as product modifications.
Q:
The composition or functional area representation of the marketing strategy center:
a. is strictly prescribed by the organizational chart.
b. evolves during the strategy development process.
c. varies from one strategy situation to another.
d. all of the above
e. (b) and (c) only
Q:
Concerning the eight-stage model of the organizational buying process, research suggests that:
a. the process may be reoriented at any point by a redefinition of the basic problem.
b. the process may be discontinued by a change in the external environment.
c. certain stages may be completed concurrently.
d. many small or incremental decisions are made during the procurement process that ultimately translate into the final selection of a supplier.
e. all of the above
Q:
_____ provides a visual representation of the cause-and-effect relationships among the components of a company's strategy.
a. A Strategy Map
b. Market Sensing
c. Customer-Linking
d. Building Blocks
Q:
Reasons for having inventories in business channels include the inability of business customers to predict their demand perfectly and operational problems in the logistics system that can cause stockouts.
Q:
Research and development is the creation of the know-how and the know-why of new materials and technologies that eventually translate into commercial development.
Q:
Conflict often divides participants in the strategy formulation process. Conflict most often emerges from:
a. bickering within a single functional area.
b. issues surrounding sales territories.
c. turf issues.
d. thought world differences.
e. both (c) and (d)
Q:
The organizational buying process, which ultimately may lead to the purchase of a new computer, could be set into action by:
a. the existing computer breaking down.
b. a new cost accounting system.
c. an IBM sales presentation.
d. (a) and (b) only.
e. any of the above.
Q:
Which of the following could assume a role in the marketing strategy center?
a. technical service managers
b. physical distribution managers
c. research & development executives
d. manufacturing executives
e. all of the above
Q:
When evaluating transportation performance, service consistency is usually more important than average delivery time.
Q:
"Lead users" are consistent early adopters of new technologies.
Q:
The collective action perspective of strategy formulation applies to strategic decisions that cut across functional areas, involve issues related to the organization's long-term goals, or involve the allocation of resources across business units. According to the collective action perspective, strategic decision processes:
a. are typically centered in a single functional area (e.g., in marketing or in R&D).
b. are often characterized by conflict that often divides participants in the strategy formulation process.
c. involve negotiation and compromise among partisan participants.
d. all of the above
e. (b) and (c) only
Q:
Please explain the following statement and how it affects business marketers.
"All business marketing decisions - product, price, promotion, and distribution - are affected, directly or indirectly, by other functional areas. In turn, marketing considerations influence business decisions in R&D and in manufacturing and procurement, as well as adjustments in the overall corporate strategy."
Q:
If marketing implementation is poor:
a. management may never become aware of the soundness of the strategy.
b. the cause of failure is hard to diagnose because poor strategy might be masked by the inability to execute.
c. management can usually see the problem immediately.
d. all of the above
e. (a) and (b) only
Q:
The two performance variables that must be considered when managing logistical activities are the total distribution costs and the level of logistical service.
Q:
Breakthrough projects center on incremental product enhancements, incremental process improvements, or incremental changes on both dimensions.
Q:
A _____ is a single business or collection of businesses that has a distinct mission, a responsible manager, its own competitors, and an independent position in the firm.
a. strategic business unit
b. market segment
c. sub-business center
d. divisional organizational scheme
e. sector unit
Q:
Smucker's sells products to both business and consumer markets. Compare and contrast the marketing strategies that Smucker's will use when selling their products to each type of market.
Q:
The process that translates marketing plans into action assignments and ensures that such assignments are executed in a manner to accomplish a plan's defined objectives is called:
a. marketing control.
b. marketing implementation.
c. strategic marketing.
d. marketing accountability.
e. competitive advantage.
Q:
Materials handling is the controllable element of a logistics system that relates to the effectiveness of in creating time and place utility.
Q:
Platform projects create the design and components that are shared by a set of products.
Q:
In the hierarchy of strategies, _____ strategy centers on how resources allocated to various functional areas can be used most effectively and efficiently to support the strategy of a strategic business unit.
a. functional
b. corporate
c. business-level
d. product
e. divisional
Q:
Hayes enjoys a well-established position as a supplier to the automobile industry. The firm supplied wheels to the Model T Ford. Today, Hayes is betting on a new product, fabricated aluminum wheels, which weigh up to 20 percent less than cast aluminum wheels and 40 percent less than steel ones. Hayes has signed contracts worth $50 million for the new wheelsmostly for use in spare tireswith DaimlerChrysler, Ford, General Motors, and BMW. Drawing on the industrial goods classification scheme, how would you classify the aluminum wheels? Sketch out the critical buying motives that organizations like DaimlerChrysler would emphasize in evaluating the wheels and explore Hayes' associated marketing strategy implications.
Q:
Using this approach, the costs of producing a printed circuit board are determined by first evaluating the activities required to produce the board and then costing out each of the activities. This describes:
a. traditional cost accounting.
b. an activity-based cost system.
c. variable cost analysis.
d. direct traceable costing.
e. contribution costing.
Q:
Logistics management is primarily concerned with movement and storage activities.
Q:
Derivative projects establish new core products and new core processes that differ fundamentally from previous generations.
Q:
In the hierarchy of strategies, _____ strategy centers on how a firm will compete in a given industry and will position itself against its competitors.
a. functional
b. corporate
c. business-level
d. product
e. divisional
Q:
Consider some leading-edge consumer product manufacturers like Procter & Gamble, Gillette, or Coca Cola. What major differences would you expect to find in comparing the marketing strategy patterns employed by these consumer-products companies to those of leading business marketing firms such as Intel, 3M, or Dow Chemical? Next, describe the similarities and differences that emerge when comparing the distinctive attributes of a leading-edge consumer products marketer to a firm that demonstrates superb skills serving customers in the business market.
Q:
Which of the following statements concerning an activity-based cost (ABC) system is(are) correct?
a. ABC analysis illuminates exactly what activities are associated with a particular product or customer segment and how these activities are linked to the generation of revenues and the consumption of resources.
b. ABC analysis often relies on percentage allocations that are somewhat arbitrary.
c. ABC analysis segregates the expenses of indirect and support resources by activities.
d. all of the above
e. (a) and (c) only
Q:
Waste reduction, time compression, and flexibility are all goals of supply chain management.
Q:
Creators of successful product portfolios emphasize planning rather than experimentation or improvisation.
Q:
In the hierarchy of strategies, _____ strategy defines the businesses in which a company will compete, preferably in a manner that utilizes resources to convert distinctive competence into competitive advantage.
a. functional
b. corporate
c. business-level
d. product
e. divisional
Q:
Dell Computer has excelled with a fast-paced build-to-order approach that involves taking customer orders online, orchestrating production tailored to each customer, and forging a one-to-one relationship with the customer after the sale. Some auto industry executives have turned to Michael Dell, the company founder, for advice concerning how to make their businesses look like his. Senior executives at Ford, for example, envision a future where customers will order online and factories will build to order, eliminating billions of dollars of inventory costs (for example, large stocks of vehicles on hand). All of those mass produced cars sitting for weeks on dealer lots represent a massive investment that yields no return until a buyer comes along.a.Evaluate the feasibility of a build-to-order system for an automaker like Ford and outline the key requirements that Ford must meet to make the strategy work for a potential customer like you.b.How would a build-to-order system alter the way in which suppliers (business marketers) would serve Ford as a customer?
Q:
_____ reveals the links between performing particular activities and the demands that those activities make on the organization's resources.
a. A logistical cost system
b. A supply-oriented cost system
c. A demand-oriented cost system
d. An activity-based cost system
e. A controllable element cost system
Q:
Supply chain management is both a boundary and function spanning endeavor.
Q:
Induced strategic behavior corresponds to deliberate strategies while autonomous strategic behavior gives rise to emergent strategies.
Q:
Recent research on forecasting techniques indicates that forecasting accuracy can be improved by combining the results of several forecasting methods, leading many to advocate the use of a composite forecasting model that includes both qualitative and quantitative factors. Using a product example and market setting of your choice, demonstrate how the use of a composite forecasting model can lead to more accurate forecasting.
Q:
Conrad Spring produces manufactured materials and parts for diverse customer groups in the business market, ranging from automobile manufacturers and household appliance producers to toy makers and medical equipment specialists. Describe the nature of marketing strategy for industrial goods of this type.
Q:
Flagstaff Electrical Supply wonders whether they are spending too much or too little on various elements in their marketing program. Which of the following tools would appear to be most appropriate in examining the efficiency of operations?
a. sales analysis
b. market share analysis
c. expense-to-sales ratio analysis
d. price analysis
e. product analysis
Q:
Speed of service is usually more important that service consistency.
Q:
Product championing refers to the process of creating or adopting an idea for an innovation and actively creating momentum for the project.
Q:
Compare and contrast the different qualitative sales forecasting techniques that are used by business marketing managers. Be sure to note the strengths and limitations of each technique.