Exam 4: Managing Marketings Link With Other Functional Areas

In planning a new strategy or reorganization,it's important to keep in mind that each change may require several other changes,and each change may take time.

____ are an internal source of capital.

When a firm is a virtual corporation,it acts primarily as a producer-and leaves it to another firm to coordinate functions such as marketing,finance,and human resources.

Outsourcing reduces coordination and logistics problems if several firms are involved in different parts of production.

At the Comfort Inn Web site,a customer can create an account with his preferences for a smoking or non-smoking room,the type of pillows he likes,early or late check-in and check-out,and his room location.The hotel keeps track of this information and uses it whenever this customer reserves a room in the future.This is an example of:

Production flexibility should help a supplier support its business customers with:

Production capacity is more easily matched to the distribution of a new product if that distribution is staged.

Advertising costs can often be allocated to specific products,just as the cost of labor in the factory can be allocated to specific products.

Capital is the financial term for the amount of cash that a firm has in a bank checking account or other readily available form.

It would probably be a bad idea to go to work as a salaried salesperson selling installations for a firm that didn't have any working capital.

A major difference between functional accounts and natural accounts is that functional accounts

Before profits accumulate,a firm's selling price must cover all of the costs of doing business,including the interest charge on borrowed money.

Mass customization serves individual needs.

Many universities have begun conducting a variety of academic and athletic summer camp programs for elementary school,middle school,and high school students.These programs utilize the space in classrooms,dormitories,and other facilities that would otherwise be unused during the summer months.In addition,the programs generate revenue for the universities and promote them to prospective students.These new opportunities are possible because during the summer,the universities have excess:

Marketing cost analysis starts with the assumption that:

Classifying marketing costs in terms of their purpose-why the money was spent-requires the use of:

Just as a firm has a social responsibility in the country where it sells products,it also has a social responsibility to the people who produce its products.

A virtual corporation may not make anything at all.

Some banks work aggressively to attract business customers who want loans,but most commercial lenders like to avoid risk and making loans that are not secured with assets.

Human resource issues include recruiting and hiring new employees,deciding how people will be compensated,and what to do when a job is not being performed well or is no longer necessary.