Question 1

The channel of distribution consists of ___________, who provide transportation and storage of goods as they are distributed from producers to ultimate consumers.

Accepted Answer

marketing intermediaries

Question 2

The types of utility commonly provided by marketing intermediaries include:

Accepted Answer

Time, place, possession, information, and service.

Question 3

____________ wholesalers are independently owned and take title to the goods they handle.

Accepted Answer

Merchant

Question 4

_________ involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.

Accepted Answer

Logistics

Question 5

__________ is the term used to describe the use of outside firms to help move their goods through the supply chain.

Accepted Answer

Third-party logistics

Question 6

__________ utility is usually provided by producers rather than marketers.

Accepted Answer

Form

Question 7

A convenience store is open seven days a week and remains open on holidays. The store provides its customers with _________ utility.

Accepted Answer

time

Question 8

A firm that wants to distribute its products as widely in a market as possible would use a(n) ___________ distribution strategy.

Accepted Answer

intensive

Question 9

The major difference between wholesalers and retailers is that:

Accepted Answer

Retailers sell to final consumers, while wholesalers sell to another member of the channel of distribution, not final consumers.

Question 10

A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

Accepted Answer

channel of distribution

Question 11

Compared to a channel of distribution, a supply chain:

Accepted Answer

Is longer, because it includes links from suppliers.

Question 12

Which of the different types of utility is usually provided by producers rather than marketing intermediaries?

Accepted Answer

form utility

Question 13

Taken together, all of the organizations that move goods from the sources of raw materials to ultimate consumers are known as a:

Accepted Answer

supply chain

Question 14

Marketing intermediaries can provide _________ utility by offering customers affordable credit, free delivery, and product guarantees.

Accepted Answer

posession

Question 15

One successful nonstore retailer today is called Team. This company sells MonaVie, a relatively expensive fruit juice that is packaged in a wine bottle. Salespeople for MonaVie earn commissions on their own sales, create commissions for the upliners who recruited them, and receive commissions from the downliners they have recruited. MonaVie operates in the area of _____________.

Accepted Answer

multilevel marketing

Question 16

A(n) ______________ distribution strategy uses only one retail outlet in a given geographic area.

Accepted Answer

exclusive

Question 17

At Stockman\'s Butcher Shop the butchers will hand cut steaks to the thickness their customers specify and trim off the excess fat. This extra service provides ________ utility.

Accepted Answer

form

Question 18

A(n) ___________ distribution strategy distributes a product through only a preferred group of retailers in a given area.

Accepted Answer

selective

Question 19

Unlike merchant wholesalers, ___________ never actually own the goods they help to distribute.

Accepted Answer

agents and brokers

Question 20

__________ warehouses are used to hold products for a relatively long time.

Accepted Answer

storage

Question 21

___________ are limited-function wholesalers who furnish shelves full of merchandise to retailers who sell these items on consignment.

Accepted Answer

Rack Jobbers

Question 22

Marketing intermediaries that solicit orders from retailers or other wholesalers and have the products delivered directly from the producer to the buyer are known as:

Accepted Answer

drop shippers

Question 23

The movement of information and the movement of goods is a function of which of the following?

Accepted Answer

logistics

Question 24

Which of the following statements is accurate regarding marketing intermediaries?

Accepted Answer

Intermediaries perform some functions cheaper and faster than manufacturers.

Question 25

Currently, in the United States the greatest volume of goods and services is shipped by:

Accepted Answer

rail

Question 26

Which of the following is true of supply chain management systems?

Accepted Answer

They create a more efficient method of distribution by widening the channel to include suppliers.

Question 27

A __________ is a marketing intermediary that sells to ultimate consumers.

Accepted Answer

retailer

Question 28

When Fountain of Youth Tea Company strategized on how to distribute its product to customers, it elected to first start offering it through high-end grocery stores. The company essentially added ______________ utility to the distribution process.

Accepted Answer

place

Question 29

Robbie Veath brings together buyers and sellers of used heavy construction equipment, and helps them negotiate the terms of the sale. However, Robbie never actually takes title to any of the equipment himself, nor does he provide any financing for the buyer. Robbie is acting as a:

Accepted Answer

Broker

Question 30

__________ warehouses are used to gather and redistribute products.

Accepted Answer

Distribution

Question 31

In a(n) ____________ distribution system all of the organizations in the channel of distribution are owned by one firm.

Accepted Answer

corporate

Question 32

_________ refers to any paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the message.

Accepted Answer

Advertising

Question 33

________ advertising encourages wholesalers and retailers to carry the products of a specific manufacturer.

Accepted Answer

trade

Question 34

In the seven-step B2B selling process, the selection of potential customers is known as:

Accepted Answer

qualifying

Question 35

People with an unmet need, the authority to buy, and the willingness to listen to a sales message represent a firm\'s:

Accepted Answer

prospects

Question 36

________ combines all the promotional tools employed by a firm into one comprehensive and unified promotional strategy.

Accepted Answer

Integrated marketing communication

Question 37

Which of the following refers to the practice of paying to have a product appear favorably in a TV show or movie?

Accepted Answer

product placement

Question 38

The final step of the selling process involves:

Accepted Answer

follow-up

Question 39

The traditional promotion mix for a firm consists of the:

Accepted Answer

Advertising, personal selling, public relations, and sales promotion used to reach a target market.

Question 40

The activity that evaluates public attitudes, changes policies and procedures in response to the public\'s requests, and executes a program of action and information to earn public understanding and acceptance is called:

Accepted Answer

public relations

Question 41

__________ refers to any information about a product or an organization that is communicated to the public through the media and is not paid for or controlled by the sponsor.

Accepted Answer

publicity

Question 42

Compared to other promotional tools, publicity:

Accepted Answer

Offers the firm little control over the message.

Question 43

________ refers to the face-to-face presentation and promotion of goods and services. This also includes searching for prospects and providing follow-up services.

Accepted Answer

personal selling

Question 44

Budliter has a new ad campaign for its product. In an effort to determine whether consumers like the ad and characters it created, Budliter is monitoring _________, or online diaries for mention of their campaign.

Accepted Answer

blogs

Question 45

The goal of __________ is to inform and remind people in a target market about specific products, eventually persuading them to participate in an exchange.

Accepted Answer

promotion

Question 46

In evaluating the best advertising medium to reach a specific target market the clear choice is:

Accepted Answer

direct mail

Question 47

The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities, such as trade shows, event sponsorships, and contests, is known as:

Accepted Answer

sales promotion

Question 48

A _________ is an endorsement from a customer praising a firm\'s product.

Accepted Answer

testimonial

Question 49

The use of promotional tools to persuade wholesalers and retailers to stock and sell merchandise represents a:

Accepted Answer

push strategy

Question 50

________ advertising supports a particular view or position on an issue.

Accepted Answer

Advocacy

Question 51

Mo\'s Movies markets DVD and Blu-Ray movies online. The company recently adopted a new program that offers their current customers free DVDs if they encourage their friends to visit Mo\'s Movies\' website. This promotional program represents:

Accepted Answer

viral marketing

Question 52

The strategy of directing advertising and sales promotion toward consumers to stimulate them to request the products from their local retailers is called a:

Accepted Answer

pull strategy

Question 53

Advertisers like online advertising because:

Accepted Answer

They are able to see how many people have read or watched some part of a commercial.

Question 54

___________ encourages people to tell other people about goods or services they have enjoyed.

Accepted Answer

Word-of-mouth promotion

Question 55

A ___________ provides a summary of cash coming into and money going out of a firm from operations activities, financing activities, and investing activities.

Accepted Answer

statement of cash flows

Question 56

The preparation of financial statements for people outside the firm (creditors, unions, suppliers, and others) is the goal of:

Accepted Answer

financial accounting

Question 57

The accounting book or computer program where each day\'s transactions are first recorded is called a:

Accepted Answer

journal

Question 58

__________ accounting is used to provide information and analysis to managers within the firm to assist them in decision making.

Accepted Answer

Managerial

Question 59

A(n) _________ is a yearly published statement of the financial condition, progress and expectations of an organization.

Accepted Answer

annual report

Question 60

The primary purpose of accounting is to:

Accepted Answer

Help managers evaluate the financial condition of the firm.

Question 61

A Certified Public Accountant (CPA) is ___________ .

Accepted Answer

An accountant who has met educational requirements and has passed exams established by the American Institute of Certified Public Accountants.

Question 62

When reviewing the balance sheet for Preferred Pet Care, Inc., a mobile small animal care business, Julian noted the following information: Company assets totaling $3.5 million, and liabilities totaling $1.3 million. On paper, the net worth (owners\' equity) for this business = ___________.

Accepted Answer

$2.2million

Question 63

Financial ratios that reflect the degree to which a firm relies on borrowed funds are called ________ ratios.

Accepted Answer

leverage

Question 64

Jim Hopson is an accountant who works for a number of businesses as a consultant. He has helped to design an accounting system, provides accounting services, and has analyzed the financial strength of many of his clients. Jim is working as a:

Accepted Answer

public accountant

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