1) Which of the following is most closely associated with a proactive marketing orientation?

 A. It involves delivering superior value.

 B. It is about understanding and meeting customers’ expressed needs.

 C. It represents the “make and sell” philosophy.

 D. The marketer focuses on the customers’ latent or hidden needs.

 

2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

 A. internally

 B. management

 C. segmentation

 D. integration

 

3) Business buyers ______________.

 A. are geographically as diverse as consumers

 B. tend to be geographically concentrated with over half of them in seven states

 C. are largely concentrated in the southwestern United States

 D. use geographical dispersion to keep shipping costs low

 

 4) Toyota, the maker of the Scion brand, is using what kind of brand strategy with Scion products?

 A. Separate family names

 B. Blanket family names

 C. Individual names

 D. Corporate names

 

 5) BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Mini products?

 A. Individual names

 B. Blanket family names

 C. Separate family names

 D. Corporate names

 

6) Brands can play a number of specific roles within a company’s brand portfolio. For example, a __________ is positioned with respect to competitors’ brands so that more important and profitable brands retain their desired positioning.

 A. cash cow

 B. low-end, entry level brand

 C. high-end, prestige brand

 D. flanker

 

 7) When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the same time. The Mini was, at the time, the most popular MP3 player in the marketplace. This is an example of __________.

 

 A. brand extension

 B. preemptive cannibalization

 C. a brand shake-out

 D. product maturity

 

8) A ___________ is when a parent brand is used on a new product targeting a new market segment within a category currently served by the parent.

 A. joint-venture co-brand

 B. same company co-brand

 C. category extension

 D. line extension

 

 9) ___________ are formal statements of expected product performance by the manufacturer.

 A. Open pricing statements

 B. Promotional statements

 C. Warranties

 D. General guarantees

 

 10) Mazda’s Miata convertible originally drew the most interest from women between the ages of 35 and 55. In order to interest more potential customers in the roadster, Mazda beefed up the model with heavier shocks and a faster engine, and then emphasized performance in its advertising. This is an example of creating a new product by ____________.

 A. repositioning

 B. the development of a new product line

 C. market diversification strategy

 D. product development strategy

 

 11) When SAP software added a Windows-style “back” button to its industrial invoice management software, the new product ___________.

 A. used a new product line

 B. added to an existing product line

 C. improved upon an existing product

 D. used a marketing diversification strategy

 

 12) In 2003, Toyota introduced its Scion brand with the aim of bringing younger buyers into the “family.” This was a classic example of _________________.

 A. line featuring

 B. line cannibalization

 C. line padding

 D. line stretching

 

13) Painting and consulting are considered industrial goods because ______________.

 A. they are specialty goods

 B. they are considered “component materials”

 C. most firms do not seek them directly

 D. they facilitate developing and managing the finished product

 

 

 14) Marketers plan their market offerings at five levels. What is the correct order of the levels, going from most fundamental to the level with the most benefits?

 A. Basic-expected-augmented-core-potential

 B. Expected-potential-basic-augmented-core

 C. Core-basic-expected-augmented-potential

 D. Potential-augmented-expected-core-basic

 

 

 15) Characteristics a buyer can evaluate before purchase are called _______________.

 A. search qualities

 B. experience qualities

 C. credence qualities

 D. differentiation qualities

 

16) For $15 a day, Chlena will go to your home and feed, water, and play with your pet while you are on vacation. The service Chlena provides is an example of a _____________.

 A. tangible good with accompanying service

 B. hybrid

 C. pure service

 D. major service with accompanying minor goods and services

 

17) Mr. Tse and his family took a vacation to Washington, D.C. While there, they bought souvenirs; t-shirts and hats to take home to family and friends who didn’t have the opportunity to go. The experience of the Tse family is an example of which offering?

 A. A tangible good with accompanying services

 B. A hybrid

 C. A pure service

 D. A major service with accompanying minor goods and services

 

18) Best Buy will often try to sell the buyer of a high-end television monitor an extended warranty. This is an example of _______________.

 A. pure tangible good

 B. tangible good with accompanying services

 C. hybrid

 D. pure service

 

19) The introduction of a new product to the market using market-penetration pricing is most likely to be successful when _____________.

 A. the unit costs of producing a small volume of the product are high

 B. there must be no existing demand for the product

 C. the market is highly price sensitive

 D. the high price communicates nothing to potential buyers

 

 

 

 20) A __________ pricing objective is suitable for a company that has overcapacity, intense competition, and changing customer needs.

 A. maximum current profit

 B. survival

 C. maximum current revenue

 D. maximum sales growth

 

 21) Scotty is in the process of opening Suburban Legends SK8S to sell boards, wheels, trucks, clothing, videos, and skateboarding related collectibles. The first thing Scotty should do when setting the store’s prices is to ____________.

 A. estimate costs

 B. determine the target market

 C. select a pricing method

 D. select a pricing objective

 

 22) A common mistake in pricing is ____________________.

 A. revising prices too often

 B. considering price and price competition as a key problem in marketing

 C. ignoring costs when setting prices

 D. setting prices independently of the rest of the market mix

 

 23) When customers buy on the basis of a reference price or because the price conveys a particular quality image to them, they are being influenced by ____________.

 A. value pricing

 B. the psychology of pricing

 C. the going rates of competitors

 D. value augmented by perception

 

 24) Which of the following areas will a marketing manager standardize or adapt when taking a new product global?

 A. Marketing concept

 B. Marketing mix

 C. Product strategy

 D. Promotion strategy

 

25) Which of the following best describes integrated marketing communication (IMC)?

 A. Organizations present a consistent message.

 B. Organizations present an effective communication plan.

 C. Organizations present a plan that focuses on the customer.

 D. Organizations present an effective advertising message.

 

 26) Which of the following best describes the role of social responsibility in marketing?

 A. Standards that guide marketing decisions and actions

 B. Improving environment and products

 C. Obligation to improve positive effects on society

 D. Obligation to improve positive effects and reduce negative effects on society

 

 

 27) Public policy makers have developed a substantial body of laws and regulations to govern advertising. For these reasons, an important step in developing an advertising campaign is _____________.

 A. asking network censors what to cut out of the communication

 B. the creative development of the message

 C. the social responsibility review

 D. preparing a copy strategy statement

 

 28) Within the last couple years several cosmetics manufacturers have introduced non-clumping mascara. Revlon was one of these manufacturers. Revlon should use ________ advertising to increase selective demand for its non-clumping mascara.

 A. descriptive

 B. persuasive

 C. reminder

 D. informative

 

 29) Hospitals are engaged in intense competition to fill maternity beds. What type of advertising would hospitals most likely use to advertise their new amenities like hot tubs in every room, filet mignon or lobster on the menu, and afternoon teas for the new mothers and their families?

 A. descriptive

 B. persuasive

 C. reminder

 D. informative

 

 30) _____________ is the key ingredient in marketing campaigns and consists of a diverse collection of short-term incentive tools designed to influence trial, purchase, and interests of consumers and wholesalers.

 A. Advertising

 B. Public relations

 C. Sales promotion

 D. Personal selling

 

 

.Individual Assignment: Restructuring Debt

·Your company is in financial trouble and is in the process of reorganization. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this assignment.

Part A

ASSETS
CURRENT ASSETS
Cash and cash equivalents	$ 108,340
Trade accounts receivable, net of allowances	2,866,260
Other receivables	62,150
Operating supplies, at lower of average
cost or market	58,630
Prepaid expenses	446,050
Total Current Assets	3,541,430
PROPERTY, PLANT AND EQUIPMENT (at cost)
Land	1,950,000
Buildings and improvements	2,327,410
Equipment	5,015,660
Other equipment and leasehold improvements	1,645,580
total	10,938,650
Accumulated depreciation and amortization	(7,644,430)
Net Property, Plant, and Equipment	3,294,220
OTHER ASSETS
Deposits and other assets	1,000,080
TOTAL ASSETS	$ 7,835,730
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable	$ 972,160
Accrued liabilities	2,071,270
Accrued claims costs	793,620
Federal and other income taxes	19,710
Deferred income taxes	500
Current maturities of long-term debt and
capital lease obligations	50,610
Short-term borrowings	249,250
Total Current Liabilities	4,157,120
LONG-TERM LIABILITIES
Capital lease obligation	54,580
Note Outstanding	3,000,000
Mortgage Outstanding	608,030
Other liabilities	95,860
Total Long-term Liabilities	3,758,470
Total Liabilities	7,915,590
SHAREHOLDERS’ EQUITY (DEFICIT)
Common stock, $.01 par value; authorized
500,000 shares; issued 231,000 shares	2,310
Additional paid-in capital	731,090
Accumulated other comprehensive loss	(113,500)
Retained earnings (deficit)	(639,180)
Treasury stock	(60,580)
Total Shareholders’ Equity (Deficit)	(79,860)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 7,835,730

Part B

·As stipulated, your company is having financial difficulty and has asked the bank to restructure its $3 million note outstanding. The present note has 3 years remaining and pays a current interest rate of 10%. The present market rate for a loan of this nature is 12%. The note was issued at its face value. The bank agrees to accept land in exchange for relinquishing its claim on this note. The land has a book value of $1,950,000 and a fair value of $2,400,000.

·The company provides the following information related to its post employment benefits for the year 2007:

oAccumulated postretirement benefit obligation at January 1, 2007 $810,000

oActual and expected return on plan assets $34,000

oUnrecognized prior service cost amortization $21,000

oDiscount rate 10%

oService cost $88,000

·Part A

·Provide your manager a comparison of the current reporting for debt, explaining the requirements for each type (bond, mortgage, capital lease, and others). Then, prepare the journal entries for the restructuring.

·Part B

·To satisfy various benefit issues that have arisen as a result of the restructuring, new post employment benefits have been created. The company currently has a defined benefits plan and is considering switching to a defined contribution plan to save costs. Compute the costs associated with keeping the current plan versus the costs of a defined contribution plan where the employer pays 3% of payroll. The agreement is that the employees get to keep what is already in the defined benefit plan. This prevents the situation of having to compute how much the company would recapture in surplus assets resulting from terminating the old plan. Then, compute a new post employment benefit expense for 2007 and report this to your manager. Illustrate with schedules and notes.

XBIS 219 Week 3 CheckPoint: Online Auction

 

 

 

Imagine you recently cleaned out and reorganized your garage and now find yourself with many items in good condition but no longer needed. You are thinking about trying to sell some items on eBay® but do not know anything about online auctions.

 

Access the eBay® Web site at http://www.ebay.com to learn about their online auction system. Click on the Help tab in the upper right and choose Learning Center from the pull down menu. The site offers several tutorials to help prospective sellers and buyers learn about and use the auction system. The recommended tutorials are listed on the left. Most of the tutorials contain links to additional information.

 

Write a 200-word paragraph addressing the following: Briefly describe how eBay® works. What advantages and disadvantages do you think eBay® offers to small-scale sellers and large-scale sellers? Based on what you have learned, if you wanted to start an electronic retail (e-tail) business, would you use eBay®? Explain your reasoning.

 

Post your CheckPoint in the Assignment section of eCampus.

 

 

 

DQ1.Define e-business and e-commerce. How are they similar? How do they differ? Can the two terms be used interchangeably?

 

 

 

DQ2.What are B2B, B2C, and G2C transactions? How do they differ? How does each type of transaction benefit from conducting business using the Internet?

 

 

 

 

 

XBIS 219 Week  4  CheckPoint: Picture the Supply Chain

 

 

 

Read the Case Study 8.3, The Digital Supply Chain at Warner Bros. Entertainment, in the text.

 

Complete the chart in Appendix B outlining the supply chain at Warner Bros. Entertainment for their digital content.

 

Choose one of these components and make a recommendation for an improvement to that area of the supply chain. Explain your reasoning for the change.

 

Post your CheckPoint in the Assignment section of eCampus.

 

Note that any citations should follow APA guidelines.

 

Persuasive speech template

 

Exact purpose

 

To convince the audience that . . . complete this statement

 

Although it is the first part of your outline,

 

 

 

DO NOT begin your speech delivery by stating your exact purpose.

 

The first thing you say should be your attention grabber.

 

Introduction

 



 

 

 

Attention grabber – Statement to wake the audience up / make sure they are listening.

 



 

 

 

Thesis – Tell listeners what action you want them to take – OR – how you want them to think.

 



 

 

 

Qualification – Tell listeners your personal experience with your topic, making you qualified to affect their

 

opinions about it.

 

Body

 



 

 

 

Reason 1 – Tell one reason why listeners should act or think the way your thesis suggests.

 

o

 

 

 

Example 1 – Support for reason given above.

 

o

 

 

 

Example 2– Support for reason given above.

 

o

 

 

 

Example 3 – Support for reason given above.

 



 

 

 

Transition sentence – Smoothly connect Reason 1 with Reason 2.

 



 

 

 

Reason 2 – Give listeners a second reason why they should act or think as you want them to.

 

o

 

 

 

Example 1 – Support for reason given above.

 

o

 

 

 

Example 2– Support for reason given above.

 

o

 

 

 

Example 3 – Support for reason given above.

 



 

 

 

Transition sentence – Smoothly connect Reason 2 with Reason 3.

 



 

 

 

Reason 3 – This should be your STRONGEST argument. Tell listeners the most important reason why they

 

should act or think the way you want them to.

 

o

 

 

 

Example 1 – Support for reason given above.

 

o

 

 

 

Example 2– Support for reason given above.

 

o

 

 

 

Example 3 – Support for reason given above.

 



 

 

 

Signal the wrap-up – Move smoothly from Reason 3 to the conclusion of your speech.

 

Conclusion

 



 

 

 

Summary – Briefly remind listeners why they should agree with your position.

 



 

 

 

Memorable ending and audience challenge – End with a powerful closing thought or recommended

 

course of action.

 



 

 

 

Thank the audience for listening

 

1. The terms in the objective function or constraints are not additive.    TRUE/ FALSE

 

2. A feasible solution violates at least one of the constraints.          TRUE/ FALSE

 

3. Which of the following could not be a linear programming problem constraint?

a. 1A + 2B

 b. 1A + 2B = 3

 c. 1A + 2B > 3

 d. 1A + 2B < 3

 

4. In a linear programming problem, a valid objective function can be represented as

A) Max Z = 5xy

B) Max Z 5x2 + 2y2

C) Max 3x + 3y + 1/3z

D) Min (x1 + x2) / x3

 

5. Non-negativity constraints restrict the decision variables to negative values.    TRUE/ FALSE

 

6. A graphical solution is limited to linear programming problems with ___ decision variables

2

 

7. A constraint is a linear relationship representing a restriction on decision making.

   TRUE/ FALSE

 

8. Linear programming is a model consisting of linear relationships representing a firm’s decisions given an objective and resource constraints.        TRUE/ FALSE

 

9. Non-negativity constraints

A) restrict the decision variables to zero.

B) restrict the decision variables to positive values

C) restrict the decision variables to negative values

D) do not restrict the sign of the decision variable.

E) both A and B

 

 

10. Decision models are mathematical symbols representing levels of activity.  TRUE/ FALSE

 

11. Which of the following could be a linear programming objective function?

A) Z = 1A + 2BC + 3D

B) Z = 1A + 2B + 3C + 4D

C) Z = 1A + 2B / C + 3D

D) Z = 1A + 2B2 + 3D

E) all of the above

 

12. Decision variables

A) measure the objective function

B) measure how much or how many items to produce, purchase, hire, etc.

C) always exist for each constraint

D) measure the values of each constraint

 

13. A linear programming model consists of decision variables, constraints, but no objective function.   TRUE/ FALSE

 

14. The region which satisfies all of the constraints in a graphical linear programming problem is called the                  

A) region of optimality

B) feasible solution space

C) region of non-negativity

D) optimal solution space

 

15. The _______________ property of linear programming models indicates that the decision variables cannot be restricted to integer values and can take on any fractional value.

A) linearity

B) additive

C) divisibility

D) certainty

E) proportionality

 

16. The production manager for the Coory soft drink company is considering the production of 2 kinds of soft drinks: regular and diet. Two of the limited resources are production time (8 hours = 480 minutes per day) and syrup limited to 675 gallons per day. To produce a regular case requires 2 minutes and 5 gallons of syrup, while a diet case needs 4 minutes and 3 gallons of syrup. Profits for regular soft drink are $3.00 per case and profits for diet soft drink are $2.00 per case. What is the time constraint?

 A) 2R + 5D ≤ 480

B) 2D + 4R ≤ 480

C) 2R + 3D ≤ 480

D) 3R + 2D ≤ 480

E) 2R + 4D ≤ 480

 

17. Cully furniture buys 2 products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 100 cubic feet of storage space, and each medium shelf costs $300 and requires 90 cubic feet of storage space. The company has $75000 to invest in shelves this week, and the warehouse has 18000 cubic feet available for storage. Profit for each big shelf is $300 and for each medium shelf is $150. What is the objective function?

Z = $300B + $150M

A) MAX Z = $300B + $100 M

B) MAX Z = $300M + $150 B

C) MAX Z = $300B + $150 M

D) MAX Z = $300B + $500 M

E) MAX Z = $500B + $300 M

 

18. In a linear programming model, the numberof constraints must be less than the number of decision variables.            TRUE/ FALSE

 

19. Proportionality means the slope of a constraint or objective function line is not constant.  TRUE/ FALSE

 

 

20. The objective function is a linear relationship reflecting the objective of an operation.       TRUE/ FALSE