Question 1

Some high-volume products may have such high handling costs that they are less profitable and deserve less shelf space than low-volume products.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true of brokers?

Accepted Answer

A)  Brokers represent buyers or sellers on a semipermanent basis. 
B)  Most brokers are small businesses with a few skilled salespeople. 
C)  Brokers bring buyers and sellers together and assist in negotiation. 
D)  Selling brokers have contractual authority to sell a manufacturer's entire output. 
E)  Purchasing brokers make purchases for buyers and often receive, inspect, warehouse, and ship merchandise. 
A)  Brokers represent buyers or sellers on a semipermanent basis. 
B)  Most brokers are small businesses with a few skilled salespeople. 
C)  Brokers bring buyers and sellers together and assist in negotiation. 
D)  Selling brokers have contractual authority to sell a manufacturer's entire output. 
E)  Purchasing brokers make purchases for buyers and often receive, inspect, warehouse, and ship merchandise.

Question 3

Why are marketers concerned about the cost of logistics?

Accepted Answer

Management has become concerned about th

Question 4

Wholesalers exclude manufacturers and farmers because they are engaged primarily in production, but include retailers, as they are selling to the end consumer.

Accepted Answer

A) True 
 B)False

Question 5

American businessman King Gillette pioneered the sales model in which razor handles were given away for free or sold at a loss, but sales of disposable razor blades were very profitable. This is known as the ________ model.

Accepted Answer

A)  two-tiered pricing 
B)  predatory pricing 
C)  cross selling 
D)  loss leading 
E)  product churning 
A)  two-tiered pricing 
B)  predatory pricing 
C)  cross selling 
D)  loss leading 
E)  product churning

Question 6

Postpurchase services include shipping and delivery, gift wrapping, adjustments, and returns.

Accepted Answer

A) True 
 B)False

Question 7

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

Accepted Answer

A)  Common carriers 
B)  Shills 
C)  Generics 
D)  Private labels 
E)  Marques 
A)  Common carriers 
B)  Shills 
C)  Generics 
D)  Private labels 
E)  Marques

Question 8

Mal's father and grandfather ran Reynold's, a general store in the town of Bayswater. When Mal inherited the store, the town was expanding rapidly and a number of multinational franchisors showed interest in entering the town. Mal wants to turn Reynold's into a franchise of Blue Sun, a fast-food chain. Why shouldn't Mal go the franchise route?

Accepted Answer

There are several reasons why Mal should

Question 9

A stock order point of 10 means ordering the product ________.

Accepted Answer

A)  every 10 days 
B)  when stock falls to 10 units 
C)  every 10 units 
D)  when stock falls to 9 units 
E)  in batches of 10 items 
A)  every 10 days 
B)  when stock falls to 10 units 
C)  every 10 units 
D)  when stock falls to 9 units 
E)  in batches of 10 items

Question 10

Companies who want to carry near-zero inventory should build for order, not for stock.

Accepted Answer

A) True 
 B)False

Question 11

A(n) ________ is a storeless retailer serving a specific clientele - usually employees of large organizations - who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list.

Accepted Answer

A)  direct-selling vendor 
B)  direct marketing vendor 
C)  buying service 
D)  automatic vendor 
E)  corporate retailer 
A)  direct-selling vendor 
B)  direct marketing vendor 
C)  buying service 
D)  automatic vendor 
E)  corporate retailer

Question 12

Which of the following is a prepurchase service offered by retailers?

Accepted Answer

A)  accepting orders over the telephone 
B)  shipping the product 
C)  delivery to the customer's doorstep 
D)  general information 
E)  interior decoration of the retail outlet 
A)  accepting orders over the telephone 
B)  shipping the product 
C)  delivery to the customer's doorstep 
D)  general information 
E)  interior decoration of the retail outlet

Question 13

As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the ________.

Accepted Answer

A)  reorder point 
B)  least fixed point 
C)  point of divergence 
D)  inflection point 
E)  critical point 
A)  reorder point 
B)  least fixed point 
C)  point of divergence 
D)  inflection point 
E)  critical point

Question 14

Corporate chain stores such as Subway, Jiffy-Lube, Holiday Inn, Supercuts, and 7-Eleven account for $1 trillion of annual US sales and 40 percent of all retail transactions.

Accepted Answer

A) True 
 B)False

Question 15

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.

Accepted Answer

A)  corporate chain store 
B)  voluntary chain 
C)  retailer cooperative 
D)  merchandising conglomerate 
E)  franchise organization 
A)  corporate chain store 
B)  voluntary chain 
C)  retailer cooperative 
D)  merchandising conglomerate 
E)  franchise organization

Question 16

In ________, a salesperson goes to the home of a host who has invited friends, demonstrates the products, and takes orders.

Accepted Answer

A)  catalog marketing 
B)  franchising 
C)  direct-response selling 
D)  network marketing 
E)  direct marketing 
A)  catalog marketing 
B)  franchising 
C)  direct-response selling 
D)  network marketing 
E)  direct marketing

Some high-volume products may have such high handling costs that they are less profitable and deserve less shelf space than low-volume products.

Which of the following is true of brokers?

Why are marketers concerned about the cost of logistics?

Wholesalers exclude manufacturers and farmers because they are engaged primarily in production, but include retailers, as they are selling to the end consumer.

American businessman King Gillette pioneered the sales model in which razor handles were given away for free or sold at a loss, but sales of disposable razor blades were very profitable. This is known as the ________ model.

Postpurchase services include shipping and delivery, gift wrapping, adjustments, and returns.

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

A stock order point of 10 means ordering the product ________.

Companies who want to carry near-zero inventory should build for order, not for stock.

A(n) ________ is a storeless retailer serving a specific clientele - usually employees of large organizations - who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list.

Which of the following is a prepurchase service offered by retailers?

As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the ________.

Corporate chain stores such as Subway, Jiffy-Lube, Holiday Inn, Supercuts, and 7-Eleven account for $1 trillion of annual US sales and 40 percent of all retail transactions.

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.

In ________, a salesperson goes to the home of a host who has invited friends, demonstrates the products, and takes orders.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

Filters

Exam 18: Managing Retailing, Wholesaling, and Logistics

Some high-volume products may have such high handling costs that they are less profitable and deserve less shelf space than low-volume products.

Which of the following is true of brokers?

Why are marketers concerned about the cost of logistics?

Wholesalers exclude manufacturers and farmers because they are engaged primarily in production, but include retailers, as they are selling to the end consumer.

American businessman King Gillette pioneered the sales model in which razor handles were given away for free or sold at a loss, but sales of disposable razor blades were very profitable. This is known as the ________ model.

Postpurchase services include shipping and delivery, gift wrapping, adjustments, and returns.

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

A stock order point of 10 means ordering the product ________.

Companies who want to carry near-zero inventory should build for order, not for stock.

A(n) ________ is a storeless retailer serving a specific clientele - usually employees of large organizations - who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list.

Which of the following is a prepurchase service offered by retailers?

As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the ________.

Corporate chain stores such as Subway, Jiffy-Lube, Holiday Inn, Supercuts, and 7-Eleven account for $1 trillion of annual US sales and 40 percent of all retail transactions.

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.

In ________, a salesperson goes to the home of a host who has invited friends, demonstrates the products, and takes orders.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

Filters