MKT 315 PRACTICE EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS | ALREADY GRADED A+recent version

MKT 315 PRACTICE EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS | ALREADY GRADED A+recent version 1) Competitiveness - ANSWER A company's ability to maintain and gain market share in its industry. 2) Human resource management (HRM) - ANSWER he policies, practices, and systems that influence employees' behaviour, attitudes, and performances. 3) Shared service model - ANSWER A way to organize the HR function that includes centers of expertise or excellence, service centers, and business partners. 4) Self-service - ANSWER Giving employees online access to human resources information. 5) Evidence-based HR - ANSWER Demonstrating that HR practices have a positive influence on the company's bottom line or key stakeholders (employees, customers, community, shareholders). 6) Big data - ANSWER Information merged from a variety of sources, including HR databases, corporate financial statements, and employee surveys, to make evidence-based HR decisions and show that HR practices can influence the organization's bottom line. 7) Which one of the following is an individual outcome of interest to organizational behaviour researchers? - ANSWER Job performance 8) ________blank refers to the policies, practices, and systems that influence employees' behaviour, attitudes, and performance. - ANSWER Human resource management 9) ________ is a field of study devoted to understanding, explaining, and ultimately improving the attitudes and behaviours of individuals and groups in organizations. - ANSWER Organizational behaviour 10) Crate and Barrel, a retailer based out of Illinois, wants to increase the motivation of its employees. Which of the following examples would most likely achieve this? - ANSWER a performance-based incentive system for its employees in which workers' pay will be based on their productivity 11) Which of the following statements is true about the composition of the U.S. labor force in the next decade? - ANSWER The median age of the labor force will increase to the highest number ever. 12) With technology constantly changing and employers attempting to keep talented employees away from their competition, which legal issue may be on the rise in the United States? - ANSWER Security of intellectual property will receive more attention. 13) Which of the following acts sets strict rules for businesses, especially for accounting practices that require more open and consistent disclosure of financial data and CEOs' assurance that the data is completely accurate? - ANSWER Sarbanes—Oxley Act 14) Which of the following human relations management (HRM) practices involves helping employees understand how their jobs contribute to the finished product? - ANSWER work design 15) ________ summarize the statistical relationships between variables. - ANSWER Correlations 16) A study shows that the high turnover rate at a company is caused only by the domineering attitude of a middle manager. What criteria of causal inference does this example show? - ANSWER No alternative explanation exists for the correlation. 17) The Correlation Coefficient (r) - ANSWER •A perfect positive relationship is 1 •A perfect negative relationship is -1 18) What is the range of correlations? - ANSWER -1 to 1. the closer to 1, the stronger the correlation 19) Validity - ANSWER •The extent to which the measure correlates with some outcome of interest, such as: -Manager ratings of job performance -Objective measures of job performance -Customer satisfaction ratings -Absenteeism -Theft Accidents 20) Predictive Validation - ANSWER Give measure to job applicants but don't use it to hire (just hire at random or using something else that is unrelated to the measure). Then correlate it with performance (or some other criterion) several months later 21) Content Validation - ANSWER Not statistically derived, relies on expert judgment. Asks "does the content of the measure SEEM to relate to the job?" 22) ________blank is the degree to which a measure is free from random error. - ANSWER Reliability 23) Which of the following correlation coefficients indicates a perfect negative relationship? - ANSWER −1.0 24) Validity - ANSWER he extent to which performance on a measure is related to performance on the job. In this case, the selection test showed that it was able predict future job performance; therefore, it is valid. 25) If there is a substantial correlation between test scores and job-performance scores, ________blank validity has been established. - ANSWER criterion-related 26) The Right Fit, Incorporated has come up with a new technical test to assess the knowledge of interviewees. To assess the validity of the test, it requests that its present employees take the test and match it with their performance in the organization. Which of the following types of validation has The Right Fit, Incorporated used to test the validity of its new technical test? - ANSWER concurrent validation 27) Marketing - ANSWER The activity, set of institutions and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. American Marketing Association Def 28) Exchange - ANSWER Involves obtaining a desired product from someone by offering something in return. 29) Transaction - ANSWER Involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement. 30) Two Views of Marketing - ANSWER Micro-environment and Macro-environment 31) Micro-environment - ANSWER - Product, Price, Place, and Promotion. - Controllable 32) Macro-environment - ANSWER - Laws and Policies - Demographics - Social Values - Technology - Economy (Uncontrollable) 33) What can be marketed ? - ANSWER Goods, services, experiences, events, persons, places, properties, organizations, information, ideas. 34) Marketing management - ANSWER The activities necessary to achieve the marketing objectives. 35) Marketing Manager Job description - ANSWER Planning Implementing Monitoring Adjusting 36) Marketing Strategy - ANSWER The way that a company goes about reaching the desired outcomes needed to do business. According to American Marketing Association this involves variables such as the marketing mix, target market, positioning, and marketing related expenses 37) The Marketing Mix - ANSWER Product, Price, Place, Promotion 38) Product - ANSWER The goods, services or combination of both that are the main offerings to meet the customers' needs 39) Price - ANSWER Perceived value that a customer sees in terms of giving money in return for a product 40) Place - ANSWER How a product is distributed in the marketplace 41) Promotion - ANSWER The marketing communications that tell potential customers about the product