MTKG 431 MINI QUIZ 12

question

When we say a measure is __________ we mean that it should involve a number?
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Quantifiable
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There are two things you need to know about a number if you are planning on using it as a metric. One of them is?
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What is the trend?
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BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be an outcome measure associated with the plan?
answer

The number of cups of the new blend sold each day.
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When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure?
answer

Relevant
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When we say a measure is __________ we mean that results can be determined soon enough to use the feedback in improving performance?
answer

Timely
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Which of these is NOT an evaluation point for business decisions according to the ethical legal framework?
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All of these are evaluation points for business decisions
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One of the problems in acting ethically in international business is that __________ and _________, the basis of what is right and wrong, can vary from country to country?
answer

Culture, religion
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___________ are society’s values and standards that are enforceable in court?
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Laws
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_____________ are the set of moral rules that govern how businesses operate, how decisions are made, and how people are treated?
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Business ethics
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One of the ethical issues in pricing is for retailers to require manufacturers to pay _________ to ensure placement of new products in a store. This practice is legal, but there is a question of whether it deprives customers of their right to choice under the Consumer Bill of rights?
answer

Slotting fees
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According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company’s performance. For example successful companies develop a performance oriented ____________?
answer

Culture
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Which of these is something you need to consider when it comes time to develop the marketing budget?
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These are all things you need to have in mind when it is time to negotiate a budget.
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Many strategic plans are not executed well because?
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The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization
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A(n) ___________ is a quantifiable measure used to track, monitor, and assess the success or failure of a business practice?
answer

Metric
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In order to execute a strategic marketing plan, long-range strategic objectives need to be broken down into short-range tactical objectives so that each unit of the organization understands?
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These are all things each unit of the organization needs to understand in order to execute a strategic plan.
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One of the ethical issues in marketing is establishing what is a fair price. Some pharmaceutical companies charge very high prices for life-saving drugs because they need to recover the massive amounts of money invested in new drugs that never made it to market. While there is no question this practice is __________, there is a question about whether it is ___________?
answer

Legal, ethical
question

Advertisers frequently engage in ___________ where they exaggerate the benefits of the product without actually making a false claim about the product?
answer

Puffery
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There are two things you need to know about a number if you are planning on using it as a metric. One of them is?
answer

Is it good or bad?
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Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class?
answer

Did we achieve our goals?
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Companies that fail to ____________ will find themselves at a disadvantage in terms of reaching customers and finding good employees?
answer

Promote diversity
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_____________ involves a company’s efforts to differentiate based on environmentally practices?
answer

Green marketing
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A _____________ is a person who reports unethical behavior in a company?
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Whistle blower
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Most business people are honest and keep their word when they make a promise.
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True’
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A ____________ is a collection of key marketing metrics organized in a way to highlight patterns of performance?
answer

Marketing dashboard
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An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the ‘boxes’ in an organizational chart show patterns of ____________ and ____________ within the organization.
answer

Communication, authority
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What was your instructor talking about when he suggested using the “Facebook” standard to determine whether or not a decision you made is ethical?
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If all of your Facebook friends, including your mother, will know what you did; what choice would you make?
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One of the ethical issues in marketing is that data mining techniques where information from several databases is combined may be a violation of a customer’s ___________?
answer

Privacy
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Which of these is NOT a measure generally used in marketing?
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Share of budget
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An outcome measure?
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Tells you whether or not you achieved your goal
question

Bruce’s Angels is a not-for-profit organization that makes the world a better place. Bruce learned that a member of his board of directors had decided to resign from the volunteer position so that he could pay more attention to his business. Later that day, Bruce learned that two of his key staff people were leaving because they had received a very attractive job offer from the former board member’s company. It was clear that the board member had recruited these people for his company before he resigned from the board. According to the ethical legal framework, the behavior of this board member would be considered…?
answer

Unethical but legal
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The Foreign Corrupt Practices act of 1977 makes it illegal for U.S. businesses to __________ foreign government officials, even if it is the custom do to so that country?
answer

Bribe
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As long as an action is ____________ some people will do it even if it is considered to be illegal or even unethical?
answer

Profitable
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Information in a marketing dashboard is usually displayed graphically.
answer

True
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When it comes to setting budgets, a top-down budget…?
answer

Is determined at the corporate level
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Which of these is NOT a measure generally used in advertising?
answer

All of these are measures commonly used in advertising
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According to the ethical legal framework, it is important to balance the goals of all stakeholders when setting goals for the business.
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True
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Which of the following statements about the ethical legal framework is TRUE?
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Most business decisions are made in private
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Which of the following is NOT a question suggested by ethical legal framework for evaluating marketing decisions?
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Can I make money doing it?
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Contrary to what you would expect, when it comes time to evaluate the results of the plan…?
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It is just as bad to exceed the goal as it is to fail to reach the goal
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_____________ is an ethical perspective that believes a decision is ethical if the benefits outweigh the cost?
answer

Utilitarianism
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Which of the following is NOT one of the ‘rights’ included in The Consumer Bill of Rights proposed in the 1960s?
answer

The right to cancel a purchase
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Which of these statements best describes the basic norm of business ethics?
answer

In general, people are honest

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