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This post addresses questions for a marketing study guide.

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1. As a rule, a firm cannot survive unless its organization structure satisfies the target market, regardless of how well employee and management needs are met.
a. True
b. False

2. All of the following are performers in a distribution channel, EXCEPT:
a. Retailer
b. Manufacturer or Wholesaler
c. Specialist
d. Consultant
e. Consumer

3. The three elements of the Human Resource Triad are:
a. HR professionals, store managers, and employees
b. Training, compliance, and respect
c. Leaders, managers, and associates
d. Performance, rules, and regulation
e. Individuals, teams, and the company

4. ____________ is when the authority for retailing decisions is delegated to corporate managers rather than to geographically dispersed managers.
a. Regionalization
b. Decentralization
c. Corporate structuring
d. Centralization
e. Desertification

5. All of the following are steps in the process of managing store employees, EXCEPT:
a. Recruit and select employees
b. Socialize and train new employees
c. Motivate and manage employees to achieve store performance goals
d. Evaluate employee performance and provide feedback
e. Compensate and reward senior management for employee performance

6. Organization Analysis is the examination of the environment, strategies, and resources of the organization to determine the optimum organizational design.
a. True
b. False

7. All of the following are principles of learning, EXCEPT:
a. Goal setting
b. Individual differences
c. Modeling
d. Feedback and reinforcement
e. Action steps

8. According to Maslow's hierarchy of needs, which of the following represents the highest level of need?
a. Self-actualization needs
b. Social needs
c. Esteem needs
d. Physiological needs
e. Safety needs

9. All of the following are examples of non-financial rewards used to motivate employees, EXCEPT:
a. Job enrichment
b. Recognition
c. Promotion
d. Merchandise
e. Encouragement and Praise

10. ____________ occurs when employees are given the power in their jobs to do the things necessary to satisfy and make things right for customers.
a. Job satisfaction
b. Turnover
c. Communication gaps
d. Advancement
e. Empowerment

11. The marketing mix includes product, price, promotion, and sales performance.
a. True
b. False

12. All of the following are important factors for a professional sales force, EXCEPT:
a. Provide excellent product knowledge
b. Work long hours
c. Sell a high-quality product
d. Understand the customer's business
e. Sell a wide variety of products that offer a total solution

13. What is the last step in the sales process?
a. Prospecting
b. Follow-up
c. Needs assessment
d. Gaining commitment
e. Approach

14. All of the following are important elements of an effective sales presentation, EXCEPT:
a. Never discuss costs
b. Keep the presentation simple
c. Talk the prospect's language
d. Stress the application of the product or service to the prospect's situation
e. Seek credibility

15. ____________ is the total dollar income paid to each sales representative for a given period of time.
a. Commission
b. Salary
c. Level of earnings
d. Minimum wage
e. Incentive plan

16. The Americans with Disabilities Act )ADA) ensures equal treatment of individuals in all aspects of employment.
a. True
b. False

17. The _____________ outlaws discrimination in pay, employee benefits, and pensions based on a worker's gender.
a. Equal Pay Act of 1963
b. Fifth Amendment
c. HIPAA Act of 1976
d. Smoot-Hawley Act
e. Constitution
18. Failure to use a reasonable amount of care in the workplace is called:
a. Worker's compensation
b. No-fault injury
c. Oversight
d. Negligence
e. Employee loss

19. Employees engage in _____________ if they report an employer's illegal actions, immoral conduct, or illegal practices to government agencies charged with upholding the law.
a. Gossip
b. Tattling
c. Illegal activities
d. Muck-racking
e. Whistle-blowing

20. The American Marketing Association's code of ethics includes which of the following?
a. Professional conduct
b. Honesty and fairness
c. Rights and duties of parties in the marketing exchange process
d. All of the above
e. None of the above

21. Performance appraisals should only be used to identify employees that are doing well and those who are not.
a. True
b. False

22. Criterion deficiency refers to appraisals that focus on only one performance dimensions while excluding other important performance dimension.
a. True
b. False
23. All of the following are common goals of a strategic compensation policy, EXCEPT:
a. To reward employees' past performance
b. To maintain salary equity among employees
c. To attract new employees
d. To reward outstanding performance for select employees
e. To reduce unnecessary turnover

24. _____________ is an employee's perception that compensation received is equal to the value of the work performed.
a. Pay-for-performance
b. Payola
c. Pay equity
d. Paycheck
e. Payoff

25. An unplanned bonus given for employee's effort unrelated to an established performance measure is called a ____________.
a. Spot bonus
b. Standard hour plan payment
c. Piecework bonus
d. Differential piece rate payment
e. Merit raise

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Solution Preview

-- All correct answers are highlighted in the attached Word document.

1. As a rule, a firm cannot survive unless its organization structure satisfies the target market, regardless of how well employee and management needs are met.
a. True -- it would be useless unless the target market is satisfied.
b. False

2. All of the following are performers in a distribution channel, EXCEPT:
a. Retailer
b. Manufacturer or Wholesaler
c. Specialist
d. Consultant
e. Consumer

3. The three elements of the Human Resource Triad are:
a. HR professionals, store managers, and employees
b. Training, compliance, and respect
c. Leaders, managers, and associates
d. Performance, rules, and regulation
e. Individuals, teams, and the company

4. ____________ is when the authority for retailing decisions is delegated to corporate managers rather than to geographically dispersed managers.
a. Regionalization
b. Decentralization
c. Corporate structuring
d. Centralization
e. Desertification

5. All of the following are steps in the process of managing store employees, EXCEPT:
a. Recruit and select employees
b. Socialize and train new employees
c. Motivate and manage employees to achieve store performance goals
d. Evaluate employee performance and provide feedback
e. Compensate and reward senior management for employee performance

6. Organization Analysis is the examination of the environment, strategies, and resources of the ...

Solution Summary

The solution provides the correct choices for the marketing study guide presented below.

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cost accounting

37) Waco's Widgets plans to sell 22,000 widgets during May, 19,000 units in June, and 20,000 during July. Waco keeps 10% of the next month's sales as ending inventory. How many units should Waco produce during June?

A. 19,000
B. 21,000
C. 19,100
D. 18,900

38) Looker Hats is planning to sell 600 felt hats, and 700 will be produced during June. Each hat requires a half yard of felt and a quarter hour of direct labor. Felt costs $3.00 per yard and employees of the company are paid $20 per hour. How much is the total amount of budgeted direct labor for June?

A. $2,400
B. $48,000
C. $3,500
D. $3,000

39) At January 1, 2004, Barry, Inc. has beginning inventory of 4,000 widgets. Barry estimates it will sell 35,000 units during the first quarter of 2004 with a 10% increase in sales each quarter. Barry's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each widget costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2004?

A. $42,350
B. $63,000
C. $63,525
D. $57,525

40) A company must price its product to cover its costs and earn a reasonable profit in

A. the short run
B. its early years
C. the long run
D. all cases

41) In most cases, prices are set by the

A. selling company
B. competitive market
C. largest competitor
D. customers

42) In cost-plus pricing, the markup percentage is computed by dividing the desired ROI per unit by the

A. variable cost per unit
B. fixed cost per unit
C. total cost per unit
D. total manufacturing cost per unit

16) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is:

Mini A Maxi B
Direct labor hours 15,000 25,000
Machine setups 600 400
Machine hours 24,000 26,000
Inspections 800 700

Overhead applied to Maxi B using activity-based costing is

A. $2,000,000
B. $1,280,000
C. $1,664,000
D. $1,536,000

18) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is:

Mini A Maxi B
Direct labor hours 15,000 25,000
Machine setups 600 400
Machine hours 24,000 26,000
Inspections 800 700

Overhead applied to Maxi B using traditional costing using direct labor hours is

A. $2,000,000
B. $1,670,000
C. $1,536,000
D. $1,280,000

When a job is completed, what happens to the cost of the job?

A. It is removed from work in process and included in cost of goods sold.
B. It is removed from materials inventory and included in work in process.
C. It is removed from work in process and included in finished goods.
D. It is removed from finished goods and included in cost of goods sold.

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