MKT 111-Which of the following is true of the human

MKT 111-Which of the following is true of the human

Subject: Business    / Marketing
Question

Which of the following is true of the human resource issues during the implementation of a marketing plan?

A change in sales assignments does not require changes in compensation.

A good marketing plan will succeed even if the right people are not available to implement it.

Managers should be careful using low wages to manage costs.

More experienced employees deliver lower levels of customer service.

Firms that grow rapidly find it easier to recruit enough qualified people.

Which of the following is an internal source of capital?

Loans

Cash accumulated from a firm’s profits

Machinery purchase

Sales of stocks or bonds

Sale of assets

When USA Tax Preparation Services takes advantage of the internet to have accountants in India do its American clients’ taxes, this is called?

Production management

Mass customization

Task transfer

Tax flexibility

Source relaying

Which of the following is true of production capacity in marketing planning?

If a firm’s production capacity is flexible, different marketing opportunities may not be possible.

If a firm has unused capacity, a marketing manager can identify new markets that make more effective use of that investment.

Expanded production may result in higher unit costs because of economies of scale.

Production capacity refers to a financial report that forecasts how much cash will be available after paying expenses.

Excess capacity fails to be a safety net if demand suddenly picks up.

Cross-functional challenges would likely be greatest in which of the following situations?

Safeway grocery stores add a new flavor of ice cream.

Dove soap develops a new advertising campaign.

HP comes out with a new model of laptop computer.

Wells Fargo (bank) introduces a new type of loan.

Walmart introduces a completely new way to store data.

Which of the following is true of the human resource issues during the implementation of a marketing plan?

More experienced employees are not more productive.

Firms that grow rapidly find it easier to recruit enough qualified people.

New strategies are preferred because they do not require changes that upset the status quo and vested interests.

Changes in the sales force are likely to require changes in the structure of sales management assignments.

Experienced employees do not help a firm save money.

Which of the following is true of the role of accounting data in understanding costs and profit?

Factory functional accounts include salaries, wages, supplies, raw materials, advertising, and others.

Understanding profitability depends on being able to identify the specific costs of different goods and services.

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

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

Summary accounting statements are helpful for managers who need to make decisions about marketing strategy.

In terms of the resources required for strategy planning and implementation, which of the following is true of the finance function?

A company with a successful marketing strategy does not have its own internal funds.

Firms that cannot get a loan often start with a less costly strategy.

Internal financing enables a firm to earn less profit than a competitor that is operating on borrowed money.

Reinvesting cash generated from operations is usually more expensive than borrowing money.

Economic conditions do not have a big influence on the availability of capital.

Which of the following is true of mass customization?

Mass customization refers to using telecommunications to move service operations to places where there are pools of skilled work.

Using the principles of mass production is the same thing as trying to appeal to everyone in a mass market.

A widespread shift to mass customization has not occurred because production costs are still high.

Some of the biggest failures in mass customization have been in business markets.

With the mass-customization approach, a firm will avoid certain market segments within a broad product-market.

Which of the following is an example of a factory functional account?

Raw materials

Maintenance

Wages

Advertising

Salaries

Which of the following is an external source of capital?

Cost reduction

Cash accumulated from a firm’s profits

Loans

Operating income

Retained earnings

Which of the following is an example of natural accounts?

Milling

Grinding

Maintenance

Advertising

Polishing

Which of the following is true of capital?

Capital can only be obtained externally by a firm.

Installations that are purchased by a firm do not depreciate with time.

Capital is usually a critical resource when growth calls for expensive new facilities.

Capital is found in plenty when a marketing plan calls for rapid growth.

In most firms, there is rarely a continuing need for working capital.

Which of the following is true of the role of accounting data in understanding costs and profit?

The costs allocated to the functional accounts can be used only to show total company profits.

The costs allocated to the functional accounts do not equal, in total, those in the natural accounts.

Natural accounting records are organized so that managers can determine the cost of particular products or jobs.

The first step in marketing cost analysis is to reclassify all the dollar cost entries in the functional accounts into natural accounts.

The way natural account amounts are shifted to functional accounts depends on the firm’s method of operation.

_____ is a financial report that forecasts how much cash will be available after paying expenses.

A cash flow statement

Statement of direct expenses

Working capital report

The income statement

The cash transaction report

Which of the following is true of the human resource issues during the implementation of a marketing plan?

A good marketing plan will succeed even if the right people are not available to implement it.

New strategies are preferred because they do not require changes that upset the status quo and vested interests.

A change in sales assignments does not require changes in compensation.

The success of a marketing plan often depends on how quickly the firm’s personnel can get geared up for what needs to be done.

Firms that grow rapidly find it easier to recruit enough qualified people.

Which of the following is true of enabling market strategy with information technology (IT)?

Marketing research utilizes software and hardware to collect and analyze customers.

Enterprise resource planning systems do not provide a way to search and access customer information.

Enterprise resource planning systems focus only on external information management.

Marketing managers should work independent of those in the company directly involved with IT systems.

IT systems need not be robust from a security standpoint because marketing managers avoid the Internet

In terms of the resources required for strategy planning and implementation, which of the following is true of the finance function?

Even if there is a lack of funds, marketing ideas for new ways to satisfy customers will flourish.

A successful strategy need not ultimately generate profit.

In most firms, there is enough money for all possible opportunities to be funded.

In most firms, finding and allocating capital is handled by a firm’s chief financial officer.

Marketing plans that are funded usually do not have budget constraints.

_____ integrate internal and external information management across an entire organization; they connect the rest of the firm with the marketing information system.

CIO models

Mass customization systems

Natural accounts

Enterprise resource planning systems

Task transfers

In terms of resources for strategy planning and implementation, which of the following is a part of the functional area of production and operations?

Motivating

Recruiting

Training

Mass customization

Investment capital