STR/581 Final Exam(Final exam +all possible question from each chapter for help)100/100 score Detailed material1.is the totality of features and characteristics of a product or service that bear on itsability to satisfy stated or implied needsa.Performanceb.Valuec.Qualityd.Customer retentione.Customer loyalty2. Marketers need to be aware of threats and opportunities associated with four trends in the naturalenvironment. All of the following are among those trends EXCEPT .a.The shortage of raw materialsb.The increased cost of energyc.Near 90 percent corporate support for green causesd.Increased pollution levelse.The changing role of governments3. A(n)is any good, service, or idea that is perceived by someone as new. The idea mayhave a long history, but it is new to the person who sees it as such.a.Productb.Innovationc.New idead.Creative producte.None of these4. In market-penetration pricing, the companys objective in pricing is to , believing that highersales volume will lead to lower unit costs and higher long-run profits.a.Block competitive launchesb.Maximize their market sharec.Minimize their market shared.Maximize volumee.None of the above5. Most companies willtheir list price and give discounts and allowances for early payments,volume purchases, and off-season buying.a.List two pricesb.Increasec.Reduced.Adjuste.None of these6. If a marketer decides that segmenting a market based on neighborhoods, the marketer will havechosen themethod of segmentation.a.DemographicPage 2 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Examb.Psychographicc.Geographicd.Culturale.Social class7.is the systematic design, collection, analysis, and reporting of data and findings relevant toa specific marketing situation facing the company.a.Marketing intelligenceb.MIS (marketing information system)c.Marketing researchd.Demographicse.Marketing management8. Companies undertake surveys to learn about peoples knowledge, , preferences, andsatisfaction, and to measure these magnitudes in the general population.a.Beliefsb.Psychec.Inner idd.Deepest secretse.Intelligence and literacy9. Designing a research plan calls for decisions on all of the following EXCEPT .a.Drafting research objectivesb.Data sourcesc.Research approachesd.Research instrumentse.Sampling plans10. Procter & Gamble has many soap brands. One reason for this is that soap users tend to grouptogether in terms of preferences such as bleaching action, softness, stain-removal, et cetera. Whichof the following preferences pattern would most likely apply to P&Gs method of response to marketneeds?a.Homogeneous preferencesb.Diffused preferencesc.Clustered preferencesd.Psychological preferencese.Cultural preferences11. Companies price their products in a number of ways. Small companies prices are set by the boss, inlarger companies, pricing is handled by division and product-line managers. In industries where priceis a key factor, companies often establish adepartment reporting to other internaldepartments.a.Financialb.Pricingc.Salesd.Marketinge.Distribution12. Most new-product activity is devoted toexisting products.a.Improvingb.CoordinatingPage 3 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Examc.Distributingd.Pricinge.Marketing13. Modern marketing calls for more than developing a good product, pricing it attractively, and making itaccessible. Companies must alsowith present and potential stakeholders, and the generalpublic.a.Attractb.Reachc.Relate tod.Advertise toe.Communicate14. Intermediaries include retailers, , and logistical organizations.a.Internet companiesb.Wholesalersc.Competitorsd.Box storese.None of these=========================================1. Which of the following roles focuses on bringing about order and consistency by drawing up formalplans?a.Leadershipb.Managementc.Task structured.Initiating structuree.None of these2. Which is NOT one of the most common types of teams?a.Problem-solvingb.Interdepartmentalc.Self-managedd.Virtuale.Cross-functional3. What is one of the views of conflict?a.The traditional viewb.The human interactions viewc.The relationist viewd.The functional viewe.The persuasive view4. The terms negotiation andare used interchangeably.a.Win-loseb.Bargainingc.Collaborationd.Accommodating5. In Maslows hierarchy of needs, what is the term used for the drive to become what one is capable ofbecoming?a.Perfectionb.Self-actualizationc.Hypo-glorificationd.Self-esteeme.Attainment6. The best way for an employer to find out if a potential employee can do a job is by .a.Using the interview processb.Using a written testc.Having them spend a day in the officed.Administering an IQ teste.Using a performance simulation testPage 6 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Exam7. Which approach to performance evaluation rank-orders employees from best to worst?a.Individual rankingb.Group order rankingc.Paired comparisond.Straight rankinge.Comparison ranking8. Examples of on-the-job training include all of the following EXCEPT .a.Job rotationb.Apprenticeshipc.Simulation centersd.Understudy assignmentse.Formal mentoring programs9. How would a participator best absorb information?a.Use computers to read manualsb.Watch others and imitate behaviorsc.Copy what others do on computersd.Listen to an audiotapee.Gain hands-on experience10. An example of change in competition is .a.Growth of e-commerceb.Collapse of Enron Corporationc.Iraq-U.S. ward.Increased interest in urban livinge.A decrease in interest rates11.defines how job tasks are formally divided, grouped, and coordinated.a.Organizational structureb.Work specializationc.Departmentalizationd.Organizational behaviore.Matrix departmentation12. Shortcuts in judging others include all of the following EXCEPT .a.Stereotypingb.Halo effectc.Projectiond.Self-serving biase.The Pygmalion effect13. Hollands theory of personality-job fit argues that job satisfaction is highest and turnover lowest where.a.Personality and occupation are in agreementb.An individual is highly motivatedc.Salary is highd.Felt emotions are displayede.Compensation is highPage 7 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Exam14. Given that the previous forecast of 65 turned out to be four units less than the actual demand. Thenext forecast is 66. What would be the value of alpha if the simple exponential smoothing forecastmethod is being used?a.0.02b.0.4c.0.04d.0.25e.None of these15. Five forces model is an operation-consulting tool used in thephase.a.Problem definitionb.Data gatheringc.Data analysisd.Cost impacte.Implementation16. According to Hau Lee, which of the following types of products need to be delivered with efficientsupply-chains?a.Custom productsb.Innovative productsc.Grocery productsd.High technology productse.Responsive products17. The drawbacks of JIT in relation to synchronous manufacturing include all BUT:a.JIT is limited to repetitive manufacturingb.JIT requires a stable production levelc.JIT uses a schedule to assign work to each workstationd.JIT does not allow very much flexibility in the products producede.All of these are drawbacks of JIT18. From an operations standpoint, the goal of the firm is to simultaneously increase throughput andinventory and reduce operating expenses.a.Trueb.False19.refers to service encounters whose specifications must be developed through someinteraction between the customer and the server..a.Mail contactb.Face-to-face loose specsc.Face-to-face tight specsd.Phone contacte.Face-to-Face total customization===========================================1. Pursuing valuable ideas is the best way .a.To achieve extraordinary returns.b.To get yourself in troublec.To restrain your spending.d.To avoid risk.2. An investors risky portfolio is made up of individual stocks. Which (if any) of the following statementsabout this portfolio is true?a.The beta of this portfolio is negative if all stocks are positively correlated.b.All stocks in this portfolio will have a beta greater than one.c.All stocks in this portfolio will have a beta less than one.d.None of these3. Which of the following represents the perfect capital market view of capital structure?a.The value of the leveraged firm is equal to the value of the unleveraged firm plus the tax ratetimes the amount of debt.b.Corporate taxes cause debt to be cheaper than equity.c.Maximum firm value results from being essentially all-debt financed.d.None of these4. Which of the following represents the perfect capital market view of capital structure?a.The value of the leveraged firm is equal to the value of the unleveraged firm plus the tax ratetimes the amount of debt.Page 9 str/581r2Finance SectionSTR 581 Strategic Planning and Implementation: Sample Final Examb.Corporate taxes cause debt to be cheaper than equity.c.Maximum firm value results from being essentially all-debt financed.d.None of these5. Bank term loans represent .a.Long-term loans that looks like short-term debtb.Loans for specified amounts that require borrowers to repay them according to specifiedschedulesc.The pledge of receivablesd.All of these6. says to calculate the net advantage of a foreign project on the basis of the incrementalafter-tax cash flows the project will provide.a.The Behavioral Principleb.The Principle of Comparative Advantagec.The Principle of Incremental Benefitsd.The Time Value of Money Principle7. Which of the following forms of ownership are purchased in the capital markets?a.Stocksb.Bank debtc.Computer equipmentd.Research and development8. The Principle of implies that the expected return for an asset equals its required return.a.Capital Market Efficiencyb.Risk-Return Trade-Offc.Comparative Advantaged.Signaling9. says to look for opportunities to develop derivatives that enable firms to cope better withthe financial risks they face.a.The Principle of Incremental Benefitsb.The Principle of Valuable Ideasc.The Principle of Two-Sided Transactionsd.The Behavioral Principle10. Which of the following statements is FALSE?a.Like a call option, a warrant specifies the underlying common stock, the number of shares, astrike price, an expiration date, and the option type (American or European).b.Dividing the face amount of the convertible bond by the conversion price gives the conversionratio.c.Convertible preferred stock is usually perpetual, whereas convertible debt has a stated maturityand usually has a sinking fund.d.Conversion of PERCs into common stock is voluntary, not mandatory.11. Which (if any) statement is true?a.The Principle of Comparative Advantage states that capital market efficiency allows a firm toconcentrate its primary efforts on its comparative advantage, rather than on its day-to-dayfinancing.b.The Principle of Signaling states that new ideas can provide value when first introduced, even inan efficient capital market.Page 10 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Examc.The Principle of Valuable Ideas suggests that self-interested capital market transactions forcemarket prices toward being fair prices.d.None of these12. You work for ABC, Inc. in the finance department. You own 200 shares in ABC that are selling at $20per share on the NYSE. You just found out they will publicly announce a new stock offering. Thecosts from the offering will be 10% of the new offering. The new offering will increase the number ofoutstanding share by 30%. The new offering is not expected to have any positive or negative impacton firm value due to increasing the firms cash flows. There are currently 20,000,000 shares of ABCoutstanding. Once the announcement is made public, what will be the expected impact on the valueof your shareholdings due to the transaction (or issuance) costs of the new offering?a.There will no loss because new money will be taken in.b.You will lose $120c.You will lose $400.d.None of these13. Which (if any) statement is true?a.The Principle of Comparative Advantage states that capital market efficiency allows a firm toconcentrate its primary efforts on its comparative advantage, rather than on its day-to-dayfinancing.b.The Principle of Signaling states that new ideas can provide value when first introduced, even inan efficient capital market.c.The Principle of Valuable Ideas suggests that self-interested capital market transactions forcemarket prices toward being fair prices.d.None of these14. Which of the following is not a disadvantage of going public?a.Going public involves significant expenses, generally from 6 to 13% of the amount of the offering,and even more for very small offerings.b.Going public can also take a substantial amount of valuable management time.c.Going public lessens estate tax obligations.d.Going public can cause existing shareholders to lose voting control.=======================================================================1. Which one of the following is a cost that would not likely be associated with computer-integratedmanufacturing?a.Manufacturing overhead associated with allocation of equipment depreciationb.Direct labor costs of a welder on the production floorc.Manufacturing overhead associated with allocation of the plant lease to the latest production rund.Direct materials cost with several fuse plates for a new automobile2. If a plant is operating at full capacity and receives a one-time opportunity to accept an order at aspecial price below its usual price, thena.Only variable costs are relevant.b.Fixed costs are not relevant.c.The order will likely be accepted.d.The order will likely be rejected.3. Texs Manufacturing Company can make 100 units of a necessary component part with the followingcosts:Direct Materials $60,000Direct Labor 10,000Variable Overhead 30,000Fixed Overhead20,000If Texs Manufacturing Company purchases the component externally, $15,000 of the fixed costscan be avoided. At what external price for the 100 units is the company indifferent betweenmaking or buying?a.$120,000b.$85,000c.$115,000d.$100,0004. Transfer prices should be set in such a way as to:a.Discourage the internal sales of goods and servicesb.Reflect the actual costs, including opportunity costs, of the transferc.Eliminate profits on the transferd.Reflect market prices5. Tucson Corporation has a joint process that produces three products: X, Y, and Z. Each product maybe sold at split-off or processed further and then sold. Joint- processing costs for a year amount to$100,000. Other relevant data are as follows:Separate ProcessingSales Value Costs after Sales ValueProduct at Spli t ? of f Spli t ? of f at CompletionX $128,000 $16,000 $160,000Y 75,000 26,000 99,000Z 32,600 20,000 50,000Once product X is produced, processing it further will cause profits to .a.Increase by $32,000b.Decrease by $16,000c.Decrease by $32,000Page 13 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Examd.Increase by $16,0006. Agives the expected sales under a given set of conditions.a.Sales predictionb.Sales budgetc.Budget forecastd.Sales forecast7. The projection of financial position at the end of the budget period is found on the:a.Budgeted income statement.b.Cash budget.c.Budgeted balance sheet.d.Sales budget.8. Black Company planned to produce and sell 900 units at a total cost of $180,000. Actual productionwas 900 units at a cost of $170,000, Black Company was .a.Efficientb.Inefficientc.Effectived.Ineffective9. Cost behavior analysis applies to:a.Retailers.b.Wholesalers.c.Manufacturers.d.All entities.10. A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixedcosts of $120,000. The number of units the company must sell to break even is:a.60,000 units.b.24,000 units.c.240,000 units.d.40,000 units.11. The amount by which actual or expected sales exceeds break-even sales is referred to as:a.Contribution marginb.Unanticipated profit.c.Margin of safety.d.Target net income.12. There is no difference between variable-costing and absorption-costing income if there is no.a.Beginning inventoryb.Ending inventoryc.Change in inventory leveld.Variable overhead cost13. An example of an activity cost pool is:a.Machine hours.b.Setting up machines.c.Number of setups.Page 14 str/581r2STR 581 Strategic Planning and Implementation: Sample Final Examd.Number of inspections.14. Which of these best reflects a distinguishing factor between a job order cost system and a processcost system?a.The detail at which costs are calculated.b.The time period each covers.c.The number of work in process accounts.d.The manufacturing cost elements included.15.Identify which statement below about currently attainable standards is NOT true.a.They allow for normal spoilage and nonproductive time.b.Because they allow for waste, they usually result in favorable variances.c.They represent projections of what will probably be attained.d.Employees usually view these goals as resonable16. Join costs are incurred .a.Before the production process is startedb.Before individual products are separately identifiedc.After the split-off point but before the process-further decisiond.After the process-further decision17. Theis NOT one of the three major financial statementsa.Statement of cash flowsb.Income statementc.Balance sheetd.Statement of equity position18.are profitability ratios.a.Gross profit rate and return on salesb.Dividend payout and rate of return in invested capitalc.Earnings per share and dividend yieldd.Price earnings and current ratio19. Which of the following statements is not true regarding the Sarbanes-Oxley Act (SOX) of 2002?a.The Act calls for increased oversight responsibilities for boards of directors.b.The Act has resulted in increased penalties for financial fraud by top management.c.The Act calls for decreased independence of outside auditors reviewing corporate financialstatements.d.The Act is meant to decrease the likelihood of unethical corporate behavior===============================================================================================1. Although the U.S. has had a longstanding agreement withafter the passage of NAFTA, became the United States second largest trading partner.a.Canada, Venezuelab.Canada, Mexicoc.Mexico, Canadad.Mexico, Venezuelae.Great Britain, Paraguay2. Which of these parties are considered when decisions are made utilizing stakeholder ethical theory?a.Shareholdersb.Customersc.Employeesd.All of these are considered when using stakeholder theory3. Which of the following statements is true concerning international selection practices?a.Structured interviews are popular in all countriesb.Beliefs about how one should conduct an interpersonal interview are consistent across countries.c.The use of educational qualifications in screening candidates seems to be a universal practice.d.Policies and practices do not require modification from one country to the next.e.Groups are typically much more effective at selecting candidates in individualistic cultures.===============================================================================================. Which of the following is correct regarding the Commerce Clause of the U.S. Constitution?a.The Commerce Clause places federal responsibility for judicial determination in the CommerceDepartment.b.The Commerce Clause cannot regulate business when it occurs within a state.c.The Commerce Clause can apply to a business that only does business in one state.d.The Commerce Clause can regulate commerce, but not the transportation of goods.e.The Commerce Clause regulated inter-state commerce only.==================================================================1. When drawing demand and supply curves, economists are assuming that the primaryinfluence on production and purchasing decisions is:a.Priceb.The cost of productionc.The overall state of the economyd.Consumer incomese.Real GDP==========================================1. The modern business environment has all of the following characteristics EXCEPT:a.Globalb.Interconnectedc.Competitived.Relatively statice.Real-time2. The difference between target marketing and mass marketing is that target marketinga.Means focusing on a small marketb.Focuses on short-run objectives, while mass marketing focuses on long-run objectivesc.Focuses on specific customers, while mass marketing aims at an entire marketd.Does not rely on e-commerce but mass marketing doese.Aims at increased sales, while mass marketing focuses on increased profits===========================================================================================1. Which of the following types of marketing research firms would best be described as being one thatgathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?a.Custom marketing research firms.b.Syndicated-service research firmsc.Specialty-line marketing research firms.d.General-line marketing research firms.e.Non-profit marketing research firms.2. A scatter diagram:a.Is a graphic tool designed to portray the relationship between variables and uses interval or ratioscale datab.Only relies on ration scale datac.Does not allow negative values.d.Is a graphic tool designed to portray the relationship between nominal datae.Is not a reliable measurement of data3. Events are independent if:a.By virtue of one event happening another cannot.b.The probability of their occurrence is greater than 1.c.We can count the possible outcomes.d.The probability of one event happening does not affect the probability of another eventhappeninge.None of these4. If a marketing researcher selects the most accessible population members, he or she would haveselected thesampling method.a.Simple randomb.Stratified randomc.Clusterd.Judgmente.Convenience5. Which source of evidence to support experimental results is most threatened by the use of a fieldexperiment?a.Agreement between the IV and DVb.Time order of the occurrence of the variablesc.Control of contamination from extraneous variablesd.Use of a control groupe.Manipulation of the IV6. Ascale is a scale that scores an object or property without making a direct comparison toanother object or propertya.Rankingb.Ratingc.Categorizationd.Sortinge.Recording========================================================================================================
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