Question 1

Which of the following statements concerning human resources is NOT true?

Accepted Answer

A)  Most of the people affected by a new strategy are under the control of a marketing manager. 
B)  Communication is very important because you can't expect people to pull together in an organization-wide effort if they don't know what's going on. 
C)  People are one of a company's most important resources. 
D)  It is the marketing manager's job to communicate with others in the organization and explain the new strategy, what needs to happen, and why. 
E)  All of the above are true. 
A)  Most of the people affected by a new strategy are under the control of a marketing manager. 
B)  Communication is very important because you can't expect people to pull together in an organization-wide effort if they don't know what's going on. 
C)  People are one of a company's most important resources. 
D)  It is the marketing manager's job to communicate with others in the organization and explain the new strategy, what needs to happen, and why. 
E)  All of the above are true.

Question 2

It is the responsibility of the chief executive--not the marketing manager-- to make the strategic planning decisions that concern how a firm is going to use its overall resources--from marketing, production, finance and other areas.

Accepted Answer

A) True 
 B)False

Question 3

____ involves tailoring the principles of mass production to meet the unique needs of individual customers.

Accepted Answer

A)  Personal selling 
B)  Mass customization 
C)  Traditional manufacturing 
D)  Standardization 
E)  Outsourcing 
A)  Personal selling 
B)  Mass customization 
C)  Traditional manufacturing 
D)  Standardization 
E)  Outsourcing

Question 4

_____ is the ability to produce a certain quantity and quality of specific goods or services.

Accepted Answer

A)  Economies of scope 
B)  Production capacity 
C)  Production possibility curve 
D)  Economies of scale 
E)  Marketing capability 
A)  Economies of scope 
B)  Production capacity 
C)  Production possibility curve 
D)  Economies of scale 
E)  Marketing capability

Question 5

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.

Accepted Answer

A) True 
 B)False

Question 6

Coordinating the linkages between marketing and other functional areas is likely to be easier when a strategy involves developing a totally new product idea rather than just modifying an existing plan and established ways of doing things.

Accepted Answer

A) True 
 B)False

Question 7

_____ looks at when money will be available.

Accepted Answer

A)  Cash flow 
B)  Profit and loss 
C)  Balance sheet 
D)  Net profit 
E)  Gross margin 
A)  Cash flow 
B)  Profit and loss 
C)  Balance sheet 
D)  Net profit 
E)  Gross margin

Question 8

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 the above 
A)  what a firm owes suppliers 
B)  what it costs to store inventory 
C)  employee salaries 
D)  marketing research 
E)  all of the above

Question 9

Indirect distribution typically requires less capital than direct distribution because:

Accepted Answer

A)  agent wholesalers may take on much of the selling effort and not expect any compensation until the revenue is in on what they've sold. 
B)  intermediaries may provide the capital required for logistics facilities. 
C)  merchant wholesalers and retailers usually pay for products when they purchase them and then take over the costs of carrying inventory. 
D)  all of the above. 
E)  none of the above--indirect distribution usually requires more capital. 
A)  agent wholesalers may take on much of the selling effort and not expect any compensation until the revenue is in on what they've sold. 
B)  intermediaries may provide the capital required for logistics facilities. 
C)  merchant wholesalers and retailers usually pay for products when they purchase them and then take over the costs of carrying inventory. 
D)  all of the above. 
E)  none of the above--indirect distribution usually requires more capital.

Question 10

Problems of matching supply and demand often occur when a marketing plan calls for quick expansion into many different types of channels.

Accepted Answer

A) True 
 B)False

Question 11

Training is especially important during rapid growth of a company because it takes time to hire people and get them up to speed.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following typically would NOT be paid for using working capital?

Accepted Answer

A)  Purchase of new facilities 
B)  What it costs to store inventory 
C)  What a firm owes suppliers 
D)  Employee salaries 
E)  Marketing research costs 
A)  Purchase of new facilities 
B)  What it costs to store inventory 
C)  What a firm owes suppliers 
D)  Employee salaries 
E)  Marketing research costs

Question 13

It is the marketing manager's job to communicate with others in the organization and explain the new strategy, what needs to happen, and why.

Accepted Answer

A) True 
 B)False

Question 14

In the factory, _____ show the purpose for which expenditures are made.

Accepted Answer

A)  natural accounts 
B)  live accounts 
C)  functional accounts 
D)  defined accounts 
E)  deferred accounts 
A)  natural accounts 
B)  live accounts 
C)  functional accounts 
D)  defined accounts 
E)  deferred accounts

Question 15

As compared to natural accounts, FUNCTIONAL ACCOUNTS:

Accepted Answer

A)  are the accounts to which various costs are charged in the normal accounting cycle. 
B)  show the purpose for which expenditures are made. 
C)  include items such as storing, salaries, and taxes. 
D)  All of the above. 
E)  Both A and C above. 
A)  are the accounts to which various costs are charged in the normal accounting cycle. 
B)  show the purpose for which expenditures are made. 
C)  include items such as storing, salaries, and taxes. 
D)  All of the above. 
E)  Both A and C above.

Question 16

Outsourcing production may increase a firm's flexibility in some ways, but it may also make production costs higher and quality control more difficult.

Accepted Answer

A) True 
 B)False

Question 17

Nikeid.com, where customers can design a shoe to their own preferences, is a good example of mass customization.

Accepted Answer

A) True 
 B)False

Question 18

Marketing managers should plan time for strategy changes and not put undue pressure on the people in their organization to perform heroic efforts.

Accepted Answer

A) True 
 B)False

Question 19

Natural accounts are called so because they have the names of their expense categories.

Accepted Answer

A) True 
 B)False

Question 20

When a firm uses debt financing, the organization providing financing receives an ownership share in the company.

Accepted Answer

A) True 
 B)False

Exam 20: Managing Marketings Link With Other Functional Areas

Which of the following statements concerning human resources is NOT true?

It is the responsibility of the chief executive--not the marketing manager-- to make the strategic planning decisions that concern how a firm is going to use its overall resources--from marketing, production, finance and other areas.

____ involves tailoring the principles of mass production to meet the unique needs of individual customers.

_____ is the ability to produce a certain quantity and quality of specific goods or services.

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.

Coordinating the linkages between marketing and other functional areas is likely to be easier when a strategy involves developing a totally new product idea rather than just modifying an existing plan and established ways of doing things.

_____ looks at when money will be available.

Working capital may be used to pay for:

Indirect distribution typically requires less capital than direct distribution because:

Problems of matching supply and demand often occur when a marketing plan calls for quick expansion into many different types of channels.

Training is especially important during rapid growth of a company because it takes time to hire people and get them up to speed.

Which of the following typically would NOT be paid for using working capital?

It is the marketing manager's job to communicate with others in the organization and explain the new strategy, what needs to happen, and why.

In the factory, _____ show the purpose for which expenditures are made.

As compared to natural accounts, FUNCTIONAL ACCOUNTS:

Outsourcing production may increase a firm's flexibility in some ways, but it may also make production costs higher and quality control more difficult.

Nikeid.com, where customers can design a shoe to their own preferences, is a good example of mass customization.

Marketing managers should plan time for strategy changes and not put undue pressure on the people in their organization to perform heroic efforts.

Natural accounts are called so because they have the names of their expense categories.

When a firm uses debt financing, the organization providing financing receives an ownership share in the company.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

Demographic Dimensions of Global Consumer Markets

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, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

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

Economics Fundamentals

Marketing Arithmetic

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