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1. STR 581 FINAL EXAMS
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1) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and
distribute needed, timely, and accurate information to marketing decision makers.
2) 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.
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) A ________ is a set of procedures and sources managers use to obtain everyday information about
developments in the marketing environment.
5) The value proposition consists of a cluster of benefits the company promises to deliver; it is
6) Most established companies focus on ________ when it comes to innovation.
7) Total customer satisfaction is the general feeling of pleasure or disappointment that results from
comparing perceived performance to expectations. To achieve total customer satisfaction, organizations
need to_____________.
8) 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 ________.
9) In ________ marketing, the seller engages in the mass production, mass distribution, and mass
promotion of one product for all buyers.
10) Particularly when shopping for ego-sensitive products such as perfumes and expensive cars, many
consumers use price as an indicator of ________.
11) A marketing manager needs to know the cost of the research project before approving it. During
which step in the marketing research process would such a consideration most likely take place?
12) Which of the following types of marketing research firms would best be described as one that gathers
consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?
13) Companies normally budget marketing research at ________ percent of company sales.
14) Marketing communications can contribute to brand equity by establishing the brand in memory and
to________ (in)a brand image.
15) New-to-the- world products are ________.
16) The marketing communications mix consists of six major modes of communications. Which of the
following is NOT one of these modes?
17) Major retailer types include the following EXCEPT ________.
18) “Power prices” use price as a key strategic tool. These “power prices” have discovered the highly
________ effect of price on the bottom line.
19) ________ communicates a company’s intended value positioning of its product or brand to the
market.
20) 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 ________.

2. 21) 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?
22) 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.
23) Price has operated as the major determinant of buyer choice among poorer nations, among poorer
groups, and with ________ products.
24) Which of the following is NOT included in the definition of conflict?
25) John Kotter’s view argues that management focuses on coping with complexity, whereas leadership
focuses on coping with _____.
26) Negotiation can be defined as a process in which two or more parties exchange goods or services and
attempt to agree upon _____.
27) Which level of Maslow’s hierarchy of needs deals with satisfying one’s hunger, thirst, and need for
sex?
28) If no one is aware of conflict, it is generally agreed that _____.
29) Leadership is best defined as _____.
30) Which of the following statements best defines a work group?
31) _____ can be used to increase the perception that employees are treated fairly.
32) Between the late 1960s and the mid-1980s, the use of written tests declined because they were
characterized as _____.
33) Which of the following has proven to be a particularly good predictor for jobs that require cognitive
complexity?
34) Training employees how to be better listeners falls under which of the following training categories?
35) Examples of off-the-job training include all of the following except _____.
36) A task that is subdivided into many separate jobs is considered to have _____.
37) Which of the following is not a primary force for change in organizations?
38) 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?
39) _____ developed a Vocational Preference Inventory questionnaire that contains 160 occupational
titles.
40) Each of the six personality types developed in Holland’s personality-job fit theory has a ________.
41) Which of the following would NOT be classified as a time-series technique?
42) The ______ the percentage of contact time between the service system and the customer, the
________ the degree of interaction between the two during the production process.
43) Which of the following statements are true about time-series forecasting?
44) The phenomenon of magnification of demand variability as we move from the customer to the
producer in the supply-chain is referred to as the:
45) Which of the following according to Goldratt is not a component of production cycle time?
46) Due to asymmetric information, the market fears that a firm issuing securities will do so when the
stock is _________.
47) Which of the following statements is true?

3. 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) An all-equity-financed firm would __________.
50) “Hard” capital rationing refers to the rationing __________.
51) A checking account is __________.
52) __________ says to seek out investments that offer the greatest expected risk-adjusted real return.
53) An investor's risky portfolio is made up of individual stocks. Which of the following statements about
this portfolio is true?
54) Under capital rationing, given the choice among several equally attractive investments, the best tool
to use is the __________.
55) Which of the following statements is true?
56) The managerial decision best addresses which of the following questions?
57) The investment decision best addresses which of the following questions?
58) __________ says to recognize the value of options contained in derivatives.
59) The conversion price (for a convertible security) is usually adjusted __________.
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) 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?
63) Which of the following is not an advantage of going public?
64) Which (if any) statement is false?
65) Transfer-pricing systems exist to _____.
66) It costs Garner Company $12 of variable and $5 of fixed costs to produce one bathroom scale which
normally sells for $35. A foreign wholesaler offers to purchase 2,000 scales at $15 each. Garner would
incur special shipping costs of $1 per scale if the order were accepted. Garner has sufficient unused
capacity to produce the 2,000 scales. If the special order is accepted, what will be the effect on net
income?
67) Baden Company manufactures a product with a unit variable cost of $50 and a unit sales price of $88.
Fixed manufacturing costs were $240,000 when 10,000 units were produced and sold. The company has a
one-time opportunity to sell an additional 1,000 units at $70 each in a foreign market which would not
affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance
of the special order would affect net income as follows:
68) A transfer price exists when two segments of the same organization sell _____.
69) Which one of the following managerial accounting approaches attempts to allocate manufacturing
overhead in a more meaningful fashion?
70) Effectiveness is indicated by _____.
71) Efficiency is indicated by _____.
72) _____ is an important factor considered by sales forecasters.
73) Which of the following does not appear as a separate section on the cash budget?

4. 74) How much sales are required to earn a target net income of $128,000 if total fixed costs are $160,000
and the contribution margin ratio is 40%?
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) At the break-even point of 2,500 units, variable costs are $55,000, and fixed costs are $32,000. How
much is the selling price per unit?
78) Differences between a job order cost system and a process cost system include all of the following
except the
79) There is no difference between variable-costing and absorption-costing income if there is no_____.
80) Identify which statement about "currently attainable standards" is NOT true.
81) Identify which of the following statements about "perfection standards" is true.
82) 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
83) Which of the following statements is incorrect with respect to creditors and equity investors?
84) _____ are profitability ratios.
85) A local retail shop has been operating as a sole proprietorship. The business is growing and now the
owner wants to incorporate. Which of the following is not a reason for this owner to incorporate?
86) Although the U.S. has had a longstanding agreement with ___________, after the passage of NAFTA,
_________ became the United States' second largest trading partner.
87) The centerpiece of most diversity programs is _____.
88) Which of the following is not one of the Caux Round Table Principles for International Business?
89) Diversity training programs are generally intended to provide a vehicle for _____.
90) One study found that manufacturing labor costs about ___ an hour in China, compared to ____ dollars
in the United States.
91) Which of the following is correct about litigating commercial disputes?
92) Which of the following statements is generally NOT true about state intermediate appellate courts?
93) When an economist says that the demand for a product has increased, this means that:
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.
96) Which of the following is NOT a function of functional area information systems?
97) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by
information technologies.
98) Which research design listed below is most appropriate for establishing causality?
99) Which of the following statements is true concerning the applicability of attitudes in understanding
behavior?
100) The quartile deviation is: