Question 1

Working capital may be used to pay for:

Accepted Answer

A)  what a firm owes suppliers. 
B)  what it costs to store inventory. 
C)  employee salaries. 
D)  marketing research. 
E)  All of these. 
A)  what a firm owes suppliers. 
B)  what it costs to store inventory. 
C)  employee salaries. 
D)  marketing research. 
E)  All of these.

Question 2

Working capital would not be used to pay for:

Accepted Answer

A)  advertising expense. 
B)  what it costs to store inventory. 
C)  what a firm owes suppliers. 
D)  employee salaries. 
E)  the cost of new facilities. 
A)  advertising expense. 
B)  what it costs to store inventory. 
C)  what a firm owes suppliers. 
D)  employee salaries. 
E)  the cost of new facilities.

Question 3

A firm that relies on mass customization tries to get a competitive advantage by finding a low-cost way to give each customer in its target market more or better choices.

Accepted Answer

A) True 
 B)False

Question 4

Cross-functional challenges are greatest

Accepted Answer

A)  when minor changes are made to an existing strategy. 
B)  in routine established operations. 
C)  to a plan that the firm is already implementing. 
D)  when developing completely new marketing strategies. 
E)  when competition is nonexistent. 
A)  when minor changes are made to an existing strategy. 
B)  in routine established operations. 
C)  to a plan that the firm is already implementing. 
D)  when developing completely new marketing strategies. 
E)  when competition is nonexistent.

Question 5

A widespread shift to mass customization has not occurred because firms found that

Accepted Answer

A)  production costs were still high. 
B)  the Internet offered a low-cost way to get a lot of orders. 
C)  mass production is always better. 
D)  economies of scale provides a better alternative. 
E)  technology introduces a new set of problems. 
A)  production costs were still high. 
B)  the Internet offered a low-cost way to get a lot of orders. 
C)  mass production is always better. 
D)  economies of scale provides a better alternative. 
E)  technology introduces a new set of problems.

Question 6

Each month the billing department of Lone Star Drilling,Inc.,processes an average of 102 orders from customers at a cost of about $1,734 (in salaries and supplies).What is the average cost per order for this department (to the nearest dollar amount)?

Accepted Answer

A)  $14 
B)  $17 
C)  $20 
D)  $22 
E)  $25 
A)  $14 
B)  $17 
C)  $20 
D)  $22 
E)  $25

Question 7

Which of the following statements about mass customization is true?

Accepted Answer

A)  Anderson's windows, which an architect can order in just about any combination of size, 3 Hardware, and style, is a good example of mass customization for business markets. 
B)  Mass customization avoids the need for working capital. 
C)  Mass customization requires a firm to give up segmentation thinking to pursue larger, more heterogeneous markets. 
D)  The mass-customization approach applies only to services, and they often must be custom produced anyway. 
E)  Mass customization reduces production costs but it's less likely to meet a customer's needs. 
A)  Anderson's windows, which an architect can order in just about any combination of size, 3 Hardware, and style, is a good example of mass customization for business markets. 
B)  Mass customization avoids the need for working capital. 
C)  Mass customization requires a firm to give up segmentation thinking to pursue larger, more heterogeneous markets. 
D)  The mass-customization approach applies only to services, and they often must be custom produced anyway. 
E)  Mass customization reduces production costs but it's less likely to meet a customer's needs.

Question 8

A virtual corporation is one where the firm is primarily a coordinator-with a good marketing concept.

Accepted Answer

A) True 
 B)False

Question 9

Marketing cost analysis can:

Accepted Answer

A)  Determine if a change in the marketing mix will improve profit. 
B)  Assign costs to product lines and customers. 
C)  Prepare a profit and loss statement for each customer. 
D)  Show which customers contribute the most to the firm's profitability. 
E)  All of these. 
A)  Determine if a change in the marketing mix will improve profit. 
B)  Assign costs to product lines and customers. 
C)  Prepare a profit and loss statement for each customer. 
D)  Show which customers contribute the most to the firm's profitability. 
E)  All of these.

Question 10

A firm with a great strategy will always attract investors.

Accepted Answer

A) True 
 B)False

Question 11

For marketing cost analysis,it's often useful to reallocate costs in various natural accounts to specific products or customers.

Accepted Answer

A) True 
 B)False

Question 12

The categories to which various costs are charged in the normal financial accounting cycle are:

Accepted Answer

A)  Natural accounts. 
B)  Functional accounts. 
C)  Cash accounts. 
D)  Expense accounts. 
E)  None of these. 
A)  Natural accounts. 
B)  Functional accounts. 
C)  Cash accounts. 
D)  Expense accounts. 
E)  None of these.

Question 13

Which of the following statements about mass customization is True?

Accepted Answer

A)  There has been a widespread shift to mass customization by thousands of companies. 
B)  The biggest successes in mass customization have all been in consumer markets as opposed to business markets. 
C)  If a company is to succeed with a mass customization strategy, it must be able to find a low-cost way to produce the products. 
D)  All of these. 
E)  None of these. 
A)  There has been a widespread shift to mass customization by thousands of companies. 
B)  The biggest successes in mass customization have all been in consumer markets as opposed to business markets. 
C)  If a company is to succeed with a mass customization strategy, it must be able to find a low-cost way to produce the products. 
D)  All of these. 
E)  None of these.

Question 14

A company has three products (X,Y,and Z)that it sells,packs,and ships to its customers.Because the products have different sizes they also have different packing and shipping costs so we will use a new measure-a packing/shipping unit.Because Product Y is the smallest of the three products,we will assign it a value of 1 packing/shipping unit.Product X is twice as big as Product Y and Product Z is four times as big as Product Y.On a monthly basis,this company sells an average of 1,500 units of Product X,800 units of Product Y,and 60 units of Product Z.If the company spends on average of $3,720 each month on total packing/shipping costs,what amount should it allocate to Product X per month (to the nearest dollar amount)?

Accepted Answer

A)  $736 
B)  $1,380 
C)  $1,836 
D)  $2,500 
E)  $2,760 
A)  $736 
B)  $1,380 
C)  $1,836 
D)  $2,500 
E)  $2,760

Question 15

It makes sense for a firm to produce where it can produce most economically-if the cost of transporting and storing products to match demand doesn't offset the production savings.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is associated with debt financing?

Accepted Answer

A)  Dividends 
B)  Stock appreciation 
C)  Interest cost 
D)  Bonus shares 
E)  Stock split 
A)  Dividends 
B)  Stock appreciation 
C)  Interest cost 
D)  Bonus shares 
E)  Stock split

Question 17

A company has three products (X,Y,and Z)that it sells,packs,and ships to its customers.Because the products have different sizes they also have different packing and shipping costs so we will use a new measure-a packing/shipping unit.Because Product Y is the smallest of the three products,we will assign it a value of 1 packing/shipping unit.Product X is twice as big as Product Y and Product Z is four times as big as Product Y.If,on a monthly basis,this company sells an average of 1,500 units of Product X,800 units of Product Y,and 60 units of Product Z,how many packing/shipping units should it allocate to Product Z per month (to the nearest whole number)?

Accepted Answer

A)  240 
B)  424 
C)  620 
D)  800 
E)  3,000 
A)  240 
B)  424 
C)  620 
D)  800 
E)  3,000

Question 18

Cross-functional challenges are greater for minor changes to a strategy than for a completely new strategy.

Accepted Answer

A) True 
 B)False

Question 19

_____ are the categories to which various costs are charged in the normal financial accounting cycle.

Accepted Answer

A)  Natural accounts 
B)  Live accounts 
C)  Functional accounts 
D)  Defined accounts 
E)  Normal accounts 
A)  Natural accounts 
B)  Live accounts 
C)  Functional accounts 
D)  Defined accounts 
E)  Normal accounts

Question 20

Coordinating the linkages between different functional areas is likely to be easier when a new strategy involves only a minor modification to a plan that the firm is already implementing.

Accepted Answer

A) True 
 B)False

Working capital may be used to pay for:

Working capital would not be used to pay for:

A firm that relies on mass customization tries to get a competitive advantage by finding a low-cost way to give each customer in its target market more or better choices.

Cross-functional challenges are greatest

A widespread shift to mass customization has not occurred because firms found that

Each month the billing department of Lone Star Drilling,Inc.,processes an average of 102 orders from customers at a cost of about $1,734 (in salaries and supplies).What is the average cost per order for this department (to the nearest dollar amount)?

Which of the following statements about mass customization is true?

A virtual corporation is one where the firm is primarily a coordinator-with a good marketing concept.

Marketing cost analysis can:

A firm with a great strategy will always attract investors.

For marketing cost analysis,it's often useful to reallocate costs in various natural accounts to specific products or customers.

The categories to which various costs are charged in the normal financial accounting cycle are:

Which of the following statements about mass customization is True?

It makes sense for a firm to produce where it can produce most economically-if the cost of transporting and storing products to match demand doesn't offset the production savings.

Which of the following is associated with debt financing?

Cross-functional challenges are greater for minor changes to a strategy than for a completely new strategy.

_____ are the categories to which various costs are charged in the normal financial accounting cycle.

Coordinating the linkages between different functional areas is likely to be easier when a new strategy involves only a minor modification to a plan that the firm is already implementing.

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters

Exam 4: Managing Marketings Link With Other Functional Areas

Working capital may be used to pay for:

Working capital would not be used to pay for:

A firm that relies on mass customization tries to get a competitive advantage by finding a low-cost way to give each customer in its target market more or better choices.

Cross-functional challenges are greatest

A widespread shift to mass customization has not occurred because firms found that

Each month the billing department of Lone Star Drilling,Inc.,processes an average of 102 orders from customers at a cost of about $1,734 (in salaries and supplies).What is the average cost per order for this department (to the nearest dollar amount)?

Which of the following statements about mass customization is true?

A virtual corporation is one where the firm is primarily a coordinator-with a good marketing concept.

Marketing cost analysis can:

A firm with a great strategy will always attract investors.

For marketing cost analysis,it's often useful to reallocate costs in various natural accounts to specific products or customers.

The categories to which various costs are charged in the normal financial accounting cycle are:

Which of the following statements about mass customization is True?

It makes sense for a firm to produce where it can produce most economically-if the cost of transporting and storing products to match demand doesn't offset the production savings.

Which of the following is associated with debt financing?

Cross-functional challenges are greater for minor changes to a strategy than for a completely new strategy.

_____ are the categories to which various costs are charged in the normal financial accounting cycle.

Coordinating the linkages between different functional areas is likely to be easier when a new strategy involves only a minor modification to a plan that the firm is already implementing.

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters