Ford Vs. Ferrari

Question 1

Ford decided to build fast, sporty cars that customers wanted which likely resulted in more accidents. This could be a:

Accepted Answer

Ethical Dilema

Question 2

The only way to buy a Ford GT is to order the car from the factor. This is an example of:

Accepted Answer

Direct Channel of Distribution

Question 3

These are people who are skilled at motivating others to achieve a common goal:

Accepted Answer

Leaders

Question 4

Which of the following is an important characteristic of entrepreneurs?

Accepted Answer

All of these are important characteristics.

Question 5

The Ford Motor Company created this product in 1964 in response to changing customer preference for speed and styling.

Accepted Answer

The Ford Mustang

Question 6

The Ford Motor Company uses this manufacturing process for almost all of its vehicles:

Accepted Answer

Mass Manufacturing

Question 7

This requires the customer to purchase the product from a business other than the producer or manufacturer.

Accepted Answer

Indirect Channel of Distribution

Question 8

Ensuring high quality service can be done by hiring employees who are:

Accepted Answer

All of these are important qualities.

Question 9

This is the coordination of the flow of raw materials and services needed to produce the final product.

Accepted Answer

Supply Chain Management

Question 10

Anything offered to a market by the business to satisfy needs, could include a physical good or an intangible service.

Accepted Answer

Product

Question 11

Which of the following is an important consideration when deciding where to locate manufacturing facilities?

Accepted Answer

All of these are true about the location of manufacturing facilities.

Question 12

What is the disadvantage of Mass Production?

Accepted Answer

It is very inflexible.

Question 13

The Volkswagen Beetle is the most manufactured car in history, what car is second?

Accepted Answer

The Ford Model T

Question 14

This is the path a product uses to reach the final consumer.

Accepted Answer

Channel of Distribution

Question 15

The Ford Motor Company almost went out of business in the late 1920’s because it focused on one product.

Accepted Answer

True

Question 16

This entrepreneur began his career as a race car driver winning numerous races including the 24-hours of Le Mons.

Accepted Answer

Carroll Shelby

Question 17

Henry Ford used his absolute power to make virtually all decisions at his company. What kind of leader was he?

Accepted Answer

Autocratic Leader

Question 18

This is someone with initiative who is willing to take the risks necessary to create a new business.

Accepted Answer

Entrepreneur

Question 19

Customers are loyal to brands because brands are inexpensive to buy.

Accepted Answer

False

Question 20

This a word, symbol, image, or combination that identifies a product or company:

Accepted Answer

Brand

Question 21

This is the amount the customer will pay for the product. The value of money or its equivalent.

Accepted Answer

Price

Question 22

This entrepreneur and the cars he created, revolutionized American culture.

Accepted Answer

Henry Ford

Question 23

Process that involves planning, pricing, promoting, selling, and distributing products that satisfy customers.

Accepted Answer

Marketing

Question 24

With the exception of the Ford GT, customers must purchase a Ford vehicle from an independent dealer. This is an example

Accepted Answer

Indirect Distribution

Question 25

Why do automakers fully redesign a vehicle every 4 to 6 years?

Accepted Answer

Customers want new and improved products

Question 26

This is any form of communication a business or organization uses to inform, persuade, or remind consumers:

Accepted Answer

Promotion

Question 27

This an activity purchased by the customer that is intangible and can’t be stored.

Accepted Answer

Service

Question 28

This consists of the stages a product will experience as it is introduced, grows, matures, and is eventually abandoned.

Accepted Answer

The Product Life Cycle

Question 29

The locations and methods used to make the product available to customers:

Accepted Answer

Place (Distribution)

Question 30

Carroll Shelby had an appealing personality and passion for achieving his goals. What kind of leader was he?

Accepted Answer

Charismatic Leader

Question 31

To be successful in business requires a marketing orientation.

Accepted Answer

True

Question 32

This is the rivalry between business for customers:

Accepted Answer

Competition

Question 33

What happened to the Detroit Automobile Company that was founded by Henry Ford in 1899?

Accepted Answer

It failed and went out of business in 1901.

Question 34

Safety regulations have reduced the number of deaths per 100 million miles traveled from 5 deaths in 1965 to ____ today.

Accepted Answer

1

Question 35

This is a situation that involves a potential conflict between different moral responsibilities.

Accepted Answer

Ethical Dilemma

Question 36

“They can have it in any color they want, as long as its black.” Who said this?

Accepted Answer

Henry Ford

Question 37

Competition is important to the Free Enterprise system and it is beneficial for consumers because:

Accepted Answer

All of the above are benefits of competition.

Question 38

How does marketing help customers?

Accepted Answer

Marketing provides the goods and services that customers want.

Question 39

This occurs when the producer of a product sells the product to the final consumer:

Accepted Answer

Direct Channel of Distribution

Question 40

Henry Ford is best known for his creation of:

Accepted Answer

the first high-quality low-cost automobile.

Question 41

This is the study of people and how they make purchase decisions.

Accepted Answer

Consumer Behavior

Question 42

Working to blend together the marketing elements to satisfy their customers and sell more products.

Accepted Answer

Marketing Plan

Question 43

This is anything tangible that can be purchased, stored, and resold.

Accepted Answer

Product

Question 44

This refers to the target market as well as the people who operate the business.

Accepted Answer

People

Question 45

Brand names are frequently chosen to convey a subliminal meaning to customers.

Accepted Answer

True

Question 46

This Federal agency was created in 1970 to require improved safety standards of ALL automakers.

Accepted Answer

The National Highway Traffic Safety Administration

Question 47

He is a consumer advocate who published the book Unsafe at Any Speed in 1965:

Accepted Answer

Ralph Nader

Question 48

The primary focus of the business should be on the needs and wants of customers.

Accepted Answer

True

Question 49

The company known as Shelby American uses this manufacturing process:

Accepted Answer

Custom Manufacturing

Question 50

Carroll Shelby used the name and image of Cobra as a brand name. What was he trying to tell customers?

Accepted Answer

Shelby was likely trying to communicate all of the above.

Ford Vs. Ferrari

Questions 50

Ford Vs. Ferrari

Questions 50