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| 1 | |
Why would a marketing major need a basic foundation in operations management? |
| | A) | Marketing staff schedule work centers for most businesses |
| | B) | Marketing staff must know how to design processes |
| | C) | Marketing staff must be able to make decisions with the entire business in mind |
| | D) | Marketing staff must understand the technical processes behind manufacturing capacity management |
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| 2 | |
The value of a product is defined by: |
| | A) | The owner |
| | B) | The potential customer |
| | C) | The price initially paid for the product being sold |
| | D) | The actual cost of ownership over the products life |
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| 3 | |
A critical difference between a product and a service is: |
| | A) | A product is tangible, but a service is not. |
| | B) | A product is expensive, but a service is not. |
| | C) | A product is often poor quality, but a service is not. |
| | D) | A product is made with cheap labor, but a service is not. |
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| 4 | |
One reason producers of products also provide customers with services is: |
| | A) | They don't know any better. |
| | B) | Services can be added at no cost. |
| | C) | Services differentiate them from competitors. |
| | D) | Services are easier to match to customer needs. |
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| 5 | |
One reason services are more difficult to manage than manufacturing is: |
| | A) | Services can't be stored as inventory for later use. |
| | B) | Service employees aren't as flexible as manufacturing employees. |
| | C) | Service customers are more demanding. |
| | D) | Services can't define processes precisely. |
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| 6 | |
A B2B customer would value a product differently than a B2C customer because: |
| | A) | Businesses have more money to spend than consumers. |
| | B) | Businesses must consider how much value the product will add to the products and services they sell. |
| | C) | Consumers can't define quality very well. |
| | D) | Consumers are not as concerned about costs as businesses. |
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| 7 | |
Profitability results from: |
| | A) | High sales prices |
| | B) | Minimal workers with low salaries |
| | C) | The value being greater than the cost to create it |
| | D) | Unintelligent customers |
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| 8 | |
An important part of a strategy is: |
| | A) | Writing down plans for processes |
| | B) | Identifying suppliers of inputs to processes |
| | C) | Establishing productivity measures for processes |
| | D) | Identifying what target customers value |
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| 9 | |
Timeliness is a critical component of value for a business because: |
| | A) | Timeliness has a direct impact on a business's return on investment. |
| | B) | Business owners are impatient. |
| | C) | Businesses are typically late and need things right away. |
| | D) | Most products spoil quickly. |
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| 10 | |
In the resource/profit model the resources used to create value are: |
| | A) | Time, materials, machines, and people |
| | B) | Natural resources, animal products, crops |
| | C) | Labor, materials, cash, buildings, and transportation equipment |
| | D) | Inventory, workforce, capacity, facilities |
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