Marketting Exam

 Question 1

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The ideal decision-making orientation emphasizes the realization of the organization's potential as well as that of the decision-maker.

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Judgment, intuition, and creativity would most likely be classified as:

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A group decision process in which negative feedback on any suggested alternative is forbidden until all members have presented alternatives is called brainstorming.

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The group decision-making process that involves the circulation of questionnaires among group members is known as:

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Heuristic problem-solving techniques are examples of a modern technique that can be applied to a nonprogrammed decision.

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________ refers to the fact that managers are constrained in terms of time, computational power, and knowledge when making decisions.

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A group decision-making process which forbids negative feedback on any suggested alternative by any group member until all members have presented alternatives is known as:

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When decisions are reached using probability theory, the alternative normally chosen is the one with:

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The broader the scope of the decision, the higher the level of management responsible for it.

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One of the disadvantages of group decision-making is that they cost the organization more than individual decisions.

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Which of the following is a standing plan that outlines a series of related actions that must be taken to accomplish a particular task?

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A plan has a greater probability of failing if managers at different levels in the organization are not properly engaged in or contributing to planning activities.

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On average, sales forecast are off by approximately ________.

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A relatively formal sales forecasting method that gathers, evaluates, and summarizes expert opinions as the basis for the forecast is the:

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A rule is a standing plan that designates specific required action.

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During the maturity phase of the product life cycle, the product has been in the marketplace for some time, it is becoming more accepted, and product sales continue to climb.

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The portion of the total management system at which a plan is aimed is called the ________ of the plan.

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Which of the following products may never reach the decline stage of the product life cycle?

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The process of formulating a detailed listing of activities that must be accomplished to attain an objective, allocating the resources necessary to attain the objective, and setting up and following timetables for completing the job is:

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A standing plan that designates specific required action, indicates what organizational members should or should not do, and allows no room for interpretation is a:

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Which of the following is probably the least important skill for strategy implementation?

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A broad and general plan developed to reach long-term organizational objectives is:

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The last step in the strategic management process is:

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According to the GE Multifactor Portfolio Matrix, businesses falling in cells that form a diagonal from lower left to upper right are the strongest and the ones the company should invest in and help to grow.

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Motivations, status symbols, and attitudes are all important aspects of the international component of the organization's operating environment.

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________ is a strategy adopted by management to increasing the amount of business that an SBU is currently generating.

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Demographics are the statistical characteristics of a population.

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The ________ component is the part of the general environment related to government affairs.

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The fourth step in the strategy management process is:

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Which business strategy would generally apply to cash cows?

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The fundamental purpose of planning is:

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Olive's company wants to provide the highest quality customer service in the jewelry industry. This statement is an example of:

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Planners need not have significant practical experience within the organization if they have good human relations skills.

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The high failure rate of new businesses seems primarily a consequence of inadequate planning.

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Managers should establish objectives for employees that are in easy reach.

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Short-term objectives are targets to be achieved within five to seven years.

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Which of the following is NOT a guideline for establishing quality objectives?

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What an organization exists to do, given a particular group of customers and customer needs, is an organizational objective.

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Organizational coordination and efficiency are dependent on effective planning.

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The targets toward which an open management system is directed are: