Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

engman finals > MANAGING MANAGEMENT FUNCTION > Flashcards

MANAGING MANAGEMENT FUNCTION Flashcards

1
Q

Consumers will be more ____________ to acquire goods that are
readily accessible and can be purchased for less than competing items
of the same type

A

Inclined

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The key to success is viewed as ___________________ to
optimize customer satisfaction.

A

Offering a superior product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

The ______________ gives heed to what the customers want.

A

PRODUCTION CONCEPT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Personal selling refers to the _________________ in a conversation
with one or more prospective purchasers for the purpose of making a
sale

A

Oral presentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Personal selling may be useful to the ________________ of the
engineer manager.

A

MARKETING CONCEPTS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

It includes the employees, customers, and other stakeholders who
interact with a business

A

PEOPLE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The procedures and steps involved in delivering a product or service
to the end-user are part of the marketing mix particularly the
_______________.

A

PROCESS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The tangible aspects of a product, including packaging, branding, and
more are referred to as the _______________ in a marketing mix.

A

Physical evidence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

It focuses on making a profit by meeting the needs and wants of
customers.

A

MARKETING CONCEPT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

It is the use of marketing disciplines to achieve organizational goals
by developing and maintaining a sustainable competitive advantage.

A

STRATEGIC MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

It is a group that has been chosen because of similar traits like age,
income, and lifestyle as the most probable candidates to purchase a
product.

A

TARGET MARKET

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

It involves fine-tuning strategies to maximize efficiency and adapt to
changing market conditions, which is crucial in the context of
strategic marketing.

A

Optimization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

It is a group of activities designed to facilitate and expedite the selling
of goods and services.

A

MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

It is the process of planning, executing, and tracking the marketing
strategy of an organization

A

MARKETING MANAGEMENT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

It is a tool to structure marketing activities that helps managers
consider all relevant aspects of their project.

A

Marketing Mix

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

In the marketing sense, this term includes the tangible or intangible
item and its capacity to satisfy a specific need.

A

PRODUCT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

It refers to the money or other considerations exchanged for the
purchase or use of the product, idea, or service.

A

PRICE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

It is the difference between total revenue and total costs and is
calculated with the profit equation.

A

PROFIT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

It refers to a reduction in the original price of a product or service.

A

DISCOUNT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

In the marketing mix, it may be virtual or real-world, where you will
market your goods or services

A

Place

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

One of the most common versions of the marketing mix is the so
called ____________

A

SEVEN P’S OF MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

It is the money generated from normal business operations. It is
calculated by the sales of the product times the quantity of units sold.

A

TOTAL REVENUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

It is all expenses related to operating the business that are directly
related to producing a good or service.

A

TOTAL COST

24
Q

It serves the practical purpose of protecting the product during
transportation and storage.

A

PACKAGING

25
Q

It is often used by businesses that have a large amount of excess
capacity

A

Production Concept

26
Q

The promotional tool that publishes news or information about a
product, service, or idea on behalf of a sponsor but is not paid for by
the sponsor.

A

PUBLICITY

27
Q

It is focused on persuading customers that the products offered were
superior in quality and value to those of competitors.

A

Marketing Strategies

28
Q

Any paid attempt to communicate with the customers other than
advertising, publicity, and personal selling.

A

SALES PROMOTION

29
Q

This is the one segment that relies on research into the decisions
of a company’s current customers.

A

Behavioral

30
Q

These are the main characteristics that define your target
market.

A

Demographic

31
Q

It is the long-term result that the customer hopes to achieve by
selecting the product.

A

PROMISED PRODUCT

32
Q

This product includes the tangible product and all of the services that
support it.

A

Augmented product

33
Q

The location of the business must be located in close proximity to the
target market.

A

Geographic location

34
Q

This relates to how simple it is for clients to visit the location.

A

ACCESSIBILITY

35
Q

The selling concept is the idea that businesses should focus on
creating products that are superior in quality and features to those of
their competitors

A

FALSE

36
Q

If a business can create a better product, then customers will be more
likely to buy it.

A

TRUE

37
Q

Medina defines advertising as “a paid message that appears in the
mass media for the purpose of informing or persuading people about
particular products, services, beliefs, or action.”

A

FALSE

38
Q

If the engineering manager wants to reach a large number of people,
he may use any of the mass media depending on his specific needs
and his budget.

A

TRUE

39
Q

Unlike advertising, where the sponsor pays for space or time,
personal selling is considered “earned media.”

A

FALSE

40
Q

The idea of selling concept is to sell the company’s product through
large scale marketing and promotional activities while also fulfilling
the customers’ needs.

A

FALSE

41
Q

Marketing concept is product - oriented.

A

FALSE

42
Q

Strategic marketing addresses high-level considerations such as
what markets to target, which services to offer, and how to price and
promote them.

A

TRUE

43
Q

To maximize sales and profits, a company has the only option of
serving entirely of its chosen market.

A

FALSE

44
Q

The target market is a group wherein they are characterized by
shared characteristics and interests that make them more likely to be
interested in and benefit from what the business offers.

A

TRUE

45
Q

A target market must have the ability to satisfy the profit objectives
of the company.

A

TRUE

46
Q

At whatever management level the engineer manager works, he
must be concerned with convincing others to patronize his outputs.

A

TRUE

47
Q

Designing and creating new products and services is the core job of
an engineer.

A

TRUE

48
Q

When a company cannot be near the customers, they can hire sales
agents to cover specific areas

A

TRUE

49
Q

When services and ideas are similar in quality and other
characteristics, price will be a strong factor on whether or not a sale
will be made.

A

FALSE

50
Q

Five considerations when designing and branding products.

A

Quality, Packaging, Design, Materials, Production Cost

51
Q

The five marketing concepts.

A

Production Concept, Product Concept, Selling Concept, Marketing
Concept, Societal Marketing Concept

52
Q

The two objectives of the production concept

A

Achieve high sales volume
Produce products that are low in cost and easy to manufacture

53
Q

The four tools used in the promotion

A

Advertising, Publicity, Personal Selling, Sales Promotion

54
Q

The four public advertising carriers

A

Radio , Television, Magazine, Newspaper

55
Q

Four major segments of consumers

A

Demographic, Geographic, Psychographic, Behavioral

56
Q

The four levels of product

A

Core product, Tangible product, Augmented product, Promised
product

engman finals (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions