question

In class, we saw an ad for Pepsi called "Now and Then" which shows Britney Spears drinking Pepsi "through the years." What type of ad is this? a. Pioneering b. Competitive c. Reminder d. Reinforcement e. Comparison

answer

Reminder

question

As noted in class, the point of the original GEICO gecko ad was: a. to provide a humorous campaign to reach a new audience b. to remind customers how to pronounce the company name (GEICO, not "gecko"). c. to introduce its "easy to use" web site. d. to make the point that buying from GEICO is "so easy, even a gecko can do it." e. to change the way in which insurance companies advertised their products.

answer

to remind customers how to pronounce the company name (GEICO, not "gecko").

question

A firm becomes a channel captain because it is the channel member with the ability to influence the behavior of other members. Influence can take four forms, one of which is a. stakeholder position. b. familial ties to other channel members. c. expertise. d. longevity in the industry. e. geographic proximity to the manufacturing plant.

answer

expertise.

question

Logistics management refers to a. the practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements. b. the integration and organization of information and logistics activities across firms in a supply chain for the purpose of creating and delivering products and services that provide value to ultimate consumers. c. the integration and organization of information and logistical activities that actively brings consumers together with sellers through the express use of agents and brokers. d. systems that are designed to reduce a retailer's lead time for receiving merchandise, which then lowers a retailer's inventory investment, improves customer service levels, and reduces logistics expense. e. proprietary computer and telecommunication technologies to exchange electronic invoices, payments, and information among suppliers, manufacturers, wholesalers, and retailers.

answer

the practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.

question

Which of the following statements about comparative advertising is true? a. Comparative advertisements now constitute over 90% of all television ads. b. Comparative advertisements attract less consumer attention for the advertiser's brand. c. Comparative advertisements need market research to provide legal support for their claims. d. Comparative advertisements have been banned by the Federal Trade Commission. e. Comparative advertisements can, and often do, cause more harm than good.

answer

Comparative advertisements need market research to provide legal support for their claims.

question

Which of the following statements about outlet stores is FALSE? a. Outlets allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary store. b. The recessionary economic climate has increased demand for this type of off-price retailing. c. Increasingly, retailers are offering merchandise made expressly for the outlet division. d. Manufacturers use outlet stores to clear excess merchandise. e. Outlet stores attract customers who want a "corner store" environment.

answer

Outlet stores attract customers who want a "corner store" environment.

question

The selling of brand name merchandise at lower than regular prices is referred to as __________. a. discount pricing b. everyday low pricing c. markdown pricing d. off-price retailing e. loss-leader pricing

answer

off-price retailing

question

The two-way flow of communication between a buyer and a seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision is referred to as a. sales promotion. b. personal selling. c. direct selling. d. advertising. e. public relations.

answer

personal selling.

question

According to lecture, _____________ goals include to Communicate customer value, Build a brand/company image, explain how the product works, and suggest new uses for a product. a. Informational b. Persuasive c. Reminder d. Comparison e. Competitive

answer

Informational

question

From what we heard in class, which advertising media has the disadvantage of having a non-standardized rate structure? a. Television b. Radio c. Magazines d. Newspapers e. Internet

answer

Radio

question

In class, we talked about the distribution channels used by Dell computers. One way that Dell sells computers is by allowing customers to go to the Dell web site and to create their own "customized" computer, which is then built to the customer's specifications and shipped to the customer's home. What type of distribution channel does this represent? a. A direct channel b. An indirect channel c. A business marketing channel d. An industrial distribution channel e. A manufacturer's rep channel

answer

A direct channel

question

In class, we considered the issue of the "intensity of distribution." A concern we have is "how many" outlets should we have. The "correct" answer offered in class was: a. "whatever it takes." b. "just enough to meet the desires of the target market," anything else is waste. c. that you can never really have too much distribution for your products (or services). d. to have distribution "through every reasonable outlet in a market." e. to distribute through an exclusive dealership.

answer

"just enough to meet the desires of the target market," anything else is waste.

question

The value added dimension of the retail positioning matrix includes elements such as location, prestige, and __________. a. level of service b. market share c. price d. number of employees e. product reliability

answer

product reliability

question

The process of having the sender transform an idea into a set of symbols during the communication process is referred to as __________. a. decoding b. encrypting c. message formation d. advertising e. encoding

answer

encoding

question

A wholly-owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a __________. a. brokering agent b. cash and carry wholesaler c. manufacturer's sales office d. manufacturer's branch office e. merchant wholesaler

answer

manufacturer's sales office

question

The __________ is defined as the group of prospective buyers toward which a promotion program is directed. a. directed audience b. intended audience c. promotion audience d. selling audience e. target audience

answer

target audience

question

An advertisement that informs people what a company is, what it can do, and where it is located is referred to as a(n) a. competitive institutional advertisement. b. competitive product advertisement. c. reminder institutional advertisement. d. advocacy institutional advertisement. e. pioneering institutional advertisement.

answer

pioneering institutional advertisement.

question

Nordstrom Rack and the Gap Factory Store allow retailers to sell excess merchandise and still maintain an image of offering merchandise at full price in their primary stores. These are referred to as __________. a. extreme value retailers b. warehouse clubs c. discount houses d. outlet stores e. community shopping centers

answer

outlet stores

question

From what we heard in class, if you decided to set your ad budget to be the same dollar amount that is spent by your key competitor, what approach are you using? a. Percentage of Sales Budgeting b. Competitive Parity Budgeting c. All-You-Can-Afford Budgeting d. Objective and Task Budgeting e. Whatever Form Budgeting

answer

Competitive Parity Budgeting

question

In class, we saw a print ad for "NEW! Age Defying" Arm and Hammer Toothpaste. What type of ad was this? a. Pioneering b. Peopling c. Persuasive d. Comparison e. Reminder

answer

Pioneering

question

In lecture, we heard from Gary Trinetti talking about Supply Chain Management. Gary talked about SCM and Wal-Mart. He pointed out that there are opportunities to gain efficiencies and profits a. when the raw materials are grown and harvested b. when the items are manufactured c. when the items are transported to the Wal-Mart stores d. for firms that facilitate the supply chain e. All of the above are places he indicated offered opportunities to gain efficiencies and profits

answer

All of the above are places he indicated offered opportunities to gain efficiencies and profits

question

Throughout the past 50 years, the Mountain Dew experience has had three dimensions: a do-it-yourself ethic, an operating-outside-the-mainstream perspective, and __________. a. a global citizenship style b. a remain-true-to-yourself attitude c. a bring-it-on attitude d. an aggressive personal philosophy e. a just-do-it mantra

answer

a remain-true-to-yourself attitude

question

The four major types of limited-service merchant wholesalers are rack jobbers, cash and carry wholesalers, truck jobbers, and __________. a. machine vendors b. credit line wholesalers c. transport vendors d. container transport vendors e. desk jobbers

answer

desk jobbers

question

Jane Westerlund owns a small retail picture frame store in a local strip mall. She just bought 10 picture frames from a promising woodworker for $36 each. Based on market conditions, she will sell these for $100 each. Recently, however, sales have been a bit slow. Jane decides to reduce the price for the frames to $80. What is her maintained markup in dollar terms? a. $0 b. $36 c. $44 d. $64 e. $100

answer

$44

question

A huge shopping strip with multiple anchor (or national) stores is referred to as a __________. a. central business district b. regional shopping center c. community shopping center d. strip mall e. power center

answer

power center

question

Your local Hallmark retailer carries thousands of greeting cards. You can find cards for a "twins" birthday, from my cat to yours, and many other unique occasions. This is an example of the __________ that the Hallmark retailer carries. a. depth of product line b. breadth of product line c. height of product line d. length of product line e. width of product line

answer

depth of product line

question

Frequency refers to a. the number of different advertisements, sales promotions, or publicity events in an IMC campaign for a product or service. b. the total number of times an advertisement is aired on television or radio. c. the average number of times a firm airs an advertisement. d. the number of times an advertisement can be shown before it begins to lose its effectiveness. e. the average number of times a person in the target audience is exposed to an advertisement.

answer

the average number of times a person in the target audience is exposed to an advertisement.

question

In class, we heard about different types of advertising. When Apple wanted to make the point that MAC computers were easier to use than PCs, what type of advertising did they use? a. Pioneering b. Informational c. Comparison d. Reminder e. Reinforcement

answer

Comparison

question

According to lecture, it is possible that our Supply Chain Management objectives may not match well with our Marketing strategies. A good way to cure this problem is to: a. reduce lag time. b. cut costs. c. increase inventory. d. charge for our services. e. understand our customers' needs and what they value.

answer

understand our customers' needs and what they value.

question

According to lecture, SCM requires us to put information systems and metrics in place that focus on performance across the entire supply chain. Why is this important? a. To keep track of overall costs. b. To be able to follow the progression of each order. c. So that we can know when a raw material or supply will reach our manufacturing plant d. To help assure that all of the units in the supply chain are working well together (and not attempting to maximize their individual performance). e. To help assure that each member of the supply chain focuses on maximizing their individual performance.

answer

To help assure that all of the units in the supply chain are working well together (and not attempting to maximize their individual performance).

question

In class, we saw a print ad for "A crispy, thin Oreo cookie ring, drizzled with white fudge." This as was "Introducing Oreo Fudge Rings." What type of ad was this? a. Pioneering b. Punting c. Persuasive d. Comparison e. Reminder

answer

Pioneering

question

A financial indicator used to compare the increase in sales of stores that have been open for the same period of time is referred to as __________. a. return in investment b. percentage of markup c. gross profit d. sales per square foot e. same-store sales growth

answer

same-store sales growth

question

Resale restrictions have been prosecuted under the __________. a. Robinson-Patman Act b. Sherman Act c. Federal Trade Commission Act d. Consumer Goods Pricing Act e. Clayton Act

answer

Sherman Act

question

Stores like Dillard's, Macy's, and Neiman Marcus carry a wide range of different types of products but not an extensive number of items within each type. These retailers are known as __________. a. limited-line stores b. scrambled merchandise stores c. hypermarkets d. intertype outlets e. general merchandise stores

answer

general merchandise stores

question

Integrated marketing communications is the concept of designing marketing communications programs that coordinate all promotional activities—advertising, personal selling, sales promotion, public relations, and direct marketing—to provide __________. a. retailers with cooperative media buys b. a consistent message across all audiences c. the firm with a feedback loop d. a marketing matrix e. a media mix useful to all types of companies

answer

a consistent message across all audiences

question

Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as __________. a. selling agents b. line brokers c. distribution brokers d. manufacturer's agents e. brokers

answer

manufacturer's agents

question

Reminding buyers of the product's existence is the promotional objective during which stage of the product life cycle? a. introduction b. growth c. accelerated development d. early growth e. maturity

answer

maturity

question

According to lecture, retail operating costs are higher than wholesaler operating costs. Why is that true? a. Retailers need to have nicer stores than wholesalers. b. Retailers need to be more convenient to their customers than do wholesalers. c. Retailers need to deal with their customers questions d. Retailers need to deal with their customers' needs and expectations. e. All of the above are true.

answer

All of the above are true.

question

In class, we heard that Wal-Mart worked with P&G to move towards a "customer driven supply chain." In doing this, Wal-Mart's CFO became a _____________ for P&G. a. manager b. key supplier c. key customer d. key maker e. profit center

answer

key customer

question

In the hierarchy of effects, awareness is defined as a. the consumer's first actual purchase and use of the product or brand. b. the consumer's repeated purchase and use of the product or brand. c. the consumer's appraisal of the product or brand on important attributes. d. an increase in the consumer's desire to learn about some of the features of the product or brand. e. the consumer's ability to recognize and remember the product or brand name.

answer

the consumer's ability to recognize and remember the product or brand name.

question

Wasted coverage can be reduced by which of method of promotion? a. sales promotion b. public relations c. advertising d. public service announcements e. personal selling

answer

personal selling

question

Lance Armstrong and Tiger Woods lost contracts as celebrity spokespeople because they/their a. fees were too high. b. changed their minds about appearing in ads, breaching their contracts. c. received negative public attention. d. the image of the firms they represented had changed, becoming inconsistent with their own. e. ads were not effective.

answer

received negative public attention.

question

The Fidelity Investments ad above highlights the advantages of its online trading service relative to Schwab, E*TRADE, and TD Ameritrade. What type of product advertisement is the Fidelity Investments ad shown above? a. reminder b. pioneering c. reinforcement d. comparative e. competitive

answer

comparative

question

Which quadrant shown in Figure 16-8 above MOST LIKELY are retailers that typically sell a very restricted range of products that are high in status and quality and whose customers are provided with high levels of service? a. "A" b. "B" c. "C" d. "D" e. Can't be determined based on the information provided.

answer

"D"

question

A fast-food franchisee is required by its franchisor to buy unmarked plastic eating utensils from the franchisor if the franchisee wants to use the cups, napkins, and other paper products with the franchise logo. The franchisee can buy the identical utensils from a local supplier for half the price. This requirement would be an example of a(n) a. dual distribution network. b. refusal to deal. c. exclusive dealing. d. tying arrangement. e. resale restriction.

answer

tying arrangement.

question

In lecture we noted that supply chain management requires the application of _______ to allow companies to operate their systems effectively. a. advertising b. the profit concept c. information technology d. managerial talent e. marketing strategy

answer

information technology

question

From what we heard in class, which form of media would you use if your product needed to reach a mass audience with sight, sound, and motion? a. Television b. Radio c. Magazines d. Newspapers e. Internet

answer

Television

question

In class, we discussed various ways to classify retailers based on their ownership. We noted that Scribbles Coffee shop in Kent is a good example of a(n): a. Corporate Chain. b. Independent Retailer. c. Retailer Cooperative. d. Voluntary Chain. e. Non-store retailer.

answer

Independent Retailer.

question

Which of the following statements about comparative advertising is MOST ACCURATE? a. Comparative advertisements now constitute over 90% of all television ads. b. Comparative advertisements attract more consumer attention for the advertiser's brand. c. Comparative advertisements can decrease the perceived quality of the advertiser's brand. d. Comparative advertisements have been banned by the Federal Trade Commission. e. Comparative advertisements can, and often do, cause more harm than good.

answer

Comparative advertisements attract more consumer attention for the advertiser's brand.

question

Depth of product line refers to a. the percentage of goods stored as inventory. b. the variety of different product items a store carries. c. variations in price and color on specific items in a store. d. the number of different product lines and items within a product line. e. the number of different product classes owned by a corporate chain.

answer

the number of different product lines and items within a product line.

question

Sports Port, a motorcycle and fishing boat retailer located in a small northern Minnesota town, was the world's largest dealer for Crestliner fishing boats. In order to meet the demand of his many customers, the owner of Sports Port works with a wide variety of channel members, ranging from the manufacturer of the boats to trucking firms, other retailers, and even detailers (firms that clean, polish, and wax boats). Such a diverse channel of distribution often resulted in channel conflict. However, due to his strong consumer following, the owner of Sports Port had the power to resolve disputes between channel members. The owner of Sports Port serves as the __________ in the channel of distribution. a. wholesaler b. producer c. channel spokesperson d. channel captain e. channel arbitrator

answer

channel captain

question

Another name for a drop shipper is a __________. a. drop runner b. desk jobber c. transport vendor d. container transport vendor e. stock jobber

answer

desk jobber

question

A maintained markup refers to a. the difference between the final selling price and the retailer's cost. b. the amount subtracted from the cost the retailer paid for a product to reach the initial selling price. c. the amount the manufacturer adds to achieve the desired suggested retail price. d. the net margin. e. the highest price listed for the product.

answer

the difference between the final selling price and the retailer's cost.

question

According to the textbook, recent research indicates that the timing of __________ might affect future sales because frequent promotions increase consumers' ability to remember regular prices. a. promotional markups b. original markups c. future markups d. maintained markups e. markdowns

answer

markdowns

question

According to the lecture, if you want to create mass awareness for your new "Choco-Marks" cereal, you would NOT be likely to use: a. advertising b. sales promotions c. publicity d. personal selling e. You would want to use ALL of the tools listed above.

answer

personal selling

question

Several cable television shopping programs are developing online platforms and interactive technology, which may attract as many as 50 percent of all new customers, allowing viewers to place orders a. without having to pay sales tax on their purchases. b. without having to pay for shipping or handling on their purchases. c. between 10:00 P.M. to 6:00 A.M. on Saturday and Sunday when there are no operators standing by to take their telephone orders. d. with a "double your money back guarantee" if the items are not delivered within 24 hours. e. with their remote control through their cable-TV set box rather than over the telephone.

answer

with their remote control through their cable-TV set box rather than over the telephone.

question

All of the following guidelines help ensure the success of mobile marketing EXCEPT: a. match product characteristics to their needs, preferences, and lifestyles. b. should facilitate multitasking. c. create a mobile-ready app that (a) is flashy, fun. d. mobile apps should help shoppers make price comparisons. e. communication must use extensive text and images to explain the purpose and value of the brand.

answer

communication must use extensive text and images to explain the purpose and value of the brand.

question

The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are __________, risk, and ancillary services. a. complexity b. adaptability c. durability d. accessibility e. acceptability

answer

complexity

question

Which of the following is an inherent strength of direct marketing? a. direct marketing can be adapted quickly to facilitate customer relationships b. direct marketing is often the most credible source in the consumer's mind c. direct marketing can provide complex information d. direct marketing can quickly stimulate and maintain market share e. direct marketing is a low cost means of reaching the target market

answer

direct marketing can be adapted quickly to facilitate customer relationships

question

All of the following are reasons why direct mail and catalog retailing are attractive EXCEPT: a. they can create customer value by providing a fast and convenient means of making a purchase. b. they can serve as a tool to encourage consumers to visit a website, a social media page, or even a store. c. their paper costs and postal rates have declined, making them less expensive to send. d. they can eliminate the cost of a store and clerks. e. they can improve marketing efficiency through segmentation and targeting.

answer

their paper costs and postal rates have declined, making them less expensive to send.

question

In class, we heard an "anti-drunk driving" radio ad. What type of appeal did this "public service" ad use? a. Inform b. Fear c. Sex d. Humor e. Persuade

answer

Fear

question

According to the lecture, which channel relationship accounts for the greatest dollar volume of business products? a. Producer to Retailer to Consumer b. Producer to Wholesaler to Retailer to Consumer c. Producer to Business Distributor to Business Customer d. Producer to Business Customer e. Multiple Distribution Channels

answer

Producer to Business Customer

question

According to lecture, retailers can be classified based on the form of ownership and their marketing strategies. Which would describe Sears? a. Independent retailer with broad and deep product assortment b. Franchise with moderate prices c. Retail cooperative with varying levels of personal service d. A voluntary chain with narrow and shallow assortment of products e. A corporate chain with broad and relatively deep product assortments

answer

A corporate chain with broad and relatively deep product assortments

question

As part of their regular retail pricing strategy, some retailers will emphasize consistently low prices and eliminate most markdowns. This practice is referred to as __________. a. everyday low pricing b. low-margin pricing c. everyday fair pricing d. value-based pricing e. maintained pricing

answer

everyday low pricing

question

Which of the following statements about advertising is MOST ACCURATE? a. Advertising can communicate specific product benefits to prospective buyers. b. Advertising has limited control as to when and where an advertisement will be used. c. A key advantage of advertising is its ability to use customized interactions. d. Advertising can be a very effective "attention getter" especially for new products, but has little impact for repeat purchases. e. Advertising is one of the least costly forms of promotion because it reaches a mass market.

answer

Advertising can communicate specific product benefits to prospective buyers.

question

A local television station reported that one-fifth of the television households in your market were watching a special prime time movie on its TV channel during the 8:00 P.M. to 10:00 P.M. time period during the November "sweeps" period. What would be the movie's rating? a. 10 b. 20 c. 30 d. 40 e. 50

answer

20

question

The goals to be achieved by a firm's marketing strategy determine whether its supply chain needs to be more __________ in meeting customer requirements. a. cost effective b. broadly expanded c. responsive or efficient d. centrally located e. geographically distributed

answer

responsive or efficient

question

The promotional mix can be used to: (1) inform prospective buyers about the benefits of the product; (2) __________; and (3) remind them later about the benefits they enjoyed by using the product. a. explain how to use the product b. persuade them to try it c. inform customers of complementary offerings d. inform customers of pricing changes e. lure customers away from competitors' products

answer

persuade them to try it

question

With respect to a product's characteristics, complexity refers to a. the degree of service or support required after the sale. b. the assessment of financial risk, social risk, and physical risk. c. the number of component parts used in the construction of the original products: the more parts, the more complex the product. d. the number of distinct product attributes in terms of color, size, form, and function. e. the technical sophistication of the product and the amount of understanding required to use it.

answer

the technical sophistication of the product and the amount of understanding required to use it.

question

Based on lecture, which of the following is the best representation of a conventional marketing channel? a. A Vertical Marketing System b. Corporate Ownership of the channel members c. Individual, independent channel members focusing on their own needs d. A franchise system e. A contractual marketing system

answer

Individual, independent channel members focusing on their own needs

question

As noted in class, GEICO originally used a(n) ______________ channel of marketing. a. direct b. indirect c. infrequent d. local agency-based e. inappropriate

answer

direct

question

From what we heard in class, which form of media would you choose if you needed to get out ads in a flexible and timely manner to a local market? a. Television b. Magazines c. Radio d. Newspapers e. Yellow Pages

answer

Newspapers

question

Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, safe delivery, and __________. a. complete delivery b. honest and accurate pricing c. quality products d. product warranties e. a well-informed delivery staff

answer

complete delivery

question

Outside the United States, large retailers include __________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain. a. Aeon b. Toshei c. Seebi d. Goshen e. Toshi

answer

Aeon

question

Which method of promotion budgeting would MOST LIKELY be used by small businesses? a. all-you-can-afford budgeting b. percentage of sales budgeting c. competitive parity budgeting d. objective and task budgeting e. linear forecast budgeting

answer

all-you-can-afford budgeting

question

In the hierarchy of effects, the consumer's ability to recognize and remember the product or brand name is referred to as the __________ stage. a. adoption b. evaluation c. awareness d. interest e. trial

answer

awareness

question

The information sent by a source to a receiver during the communication process is referred to as __________. a. an advertisement b. publicity c. a message d. feedback e. a missive

answer

a message

question

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________. a. general merchandise wholesaler b. truck jobber c. specialty merchandise wholesaler d. rack jobber e. drop shipper

answer

specialty merchandise wholesaler

question

From what we heard in class, which form of media offers low cost per unit of time and good geographic flexibility? a. Television b. Radio c. Newspapers d. Billboards e. Internet

answer

Radio

question

In lecture we saw an ad for Pine-Sol household cleaner. The ad imitated the romantic setting of perfume ads. We noted that the main goal of the ad was: a. to INFORM consumers about the good smell of Pine-Sol. b. to INFORM consumers about a new use of Pine-Sol as a perfume. c. to PERSUADE consumers to shift from their current household cleaner to Pine-Sol because of its cleaning strength. d. to REMIND consumers about this "mature" product. e. to get consumers to BUY the product "now!"

answer

to REMIND consumers about this "mature" product.

question

In lecture, we noted that SCM usually requires significant changes in the firm's organization structure. This is because: a. SCM cuts across functional areas within the firm and even across different firms. b. most existing organizations are ineffective in delivering customer satisfaction. c. SCM managers need to have direct control of the firm's operations. d. most organizations need to be "flattened" for better efficiencies. e. the introduction of electronic data communication calls for new organizational structures.

answer

SCM cuts across functional areas within the firm and even across different firms.

question

Williams-Sonoma is a specialty store that caters to customers who want to cook at home. It offers free cooking classes, has frequent demonstrations by cookbook authors, and has employees who are knowledgeable about food preparation. The sales staff helps customers make their selections. Williams-Sonoma is a(n) __________ retailer. a. exclusive-service b. full-service c. upscale-service d. self-service e. limited-service

answer

full-service

question

All of the following are methods that firms use to set their promotion budgets EXCEPT: a. objective and task. b. actual number (#) of unit of sales. c. competitive parity. d. percentage (%) of sales. e. all you can afford.

answer

actual number (#) of unit of sales.

question

Amazon.com, a successful online retailer, manages an extensive customer database that is used to determine which products are suggested to each customer. Some data are best collected from the customer; other data are collected from the purchases its customers make. Which of the following customer data is BEST COLLECTED from Amazon? a. lifestyles b. brand c. demographics d. media use e. competitive products purchased

answer

brand

question

A wholesaler that carries a narrow range of products and performs all channel functions is referred to as a __________. a. general merchandise wholesaler b. truck jobber c. specialty merchandise wholesaler d. rack jobber e. drop shipper

answer

specialty merchandise wholesaler

question

Advertising refers to a. any non-paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. b. any paid form of personal communication about an organization, product, service, or idea by an identified sponsor. c. any nonpaid form of personal communication about an organization, product, service, or idea by an unidentified sponsor. d. any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. e. any paid form of nonpersonal communication about an organization, product, service, or idea by an unidentified sponsor.

answer

any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor.

question

Which of the following firms has made the wisest wholesaler choice for its product? a. Sam's Coal Country uses a drop shipper for its coal. b. Amy's Amazing Appetizers uses a rack jobber for its frozen apricot aperitifs. c. Hannah's Hardware uses a rack jobber for its hinges. d. Shayna's Superior Supplies uses a desk jobber for its staplers. e. Nova's Novelties uses a truck jobber for its never-needs-a-battery night lights.

answer

Sam's Coal Country uses a drop shipper for its coal.

question

In class, we talked about various franchises, such as Midas Mufflers and Wendy's, as good examples of: a. Corporate Vertical Marketing Systems. b. Ownership Vertical Marketing Systems. c. Contractual Vertical Marketing Systems d. Administered Vertical Marketing Systems e. Low price all-the-time distribution systems

answer

Contractual Vertical Marketing Systems

question

In lecture we heard that when you make use of supply chain management, you not only need to do better than your direct competitors, but you actually need to compete against: a. indirect competitors. b. other multi-firm supply chains. c. integrated marketing systems. d. large suppliers. e. yourself.

answer

other multi-firm supply chains.

question

Based on lecture, which of the following is the best representation of a conventional marketing channel? a. A Vertical Marketing System b. Corporate Ownership of the channel members c. Individual, independent channel members focusing on their own needs d. A franchise system e. A contractual marketing system

answer

Individual, independent channel members focusing on their own needs

question

According to the lecture, __________ goals include maintaining customers relationships and keeping the brand in the consumer's mind during the off-season a. informational b. persuasive c. reminder d. remainder e. rebounder

answer

reminder

question

In the feedback loop, the impact the message has on the receiver's knowledge, attitude, or behaviors during the communications process is referred to as __________. a. feedback b. a field of experience c. noise d. a response e. a hierarchy of effects

answer

a response

question

Growth in the direct-selling industry is the result of two trends: (1) direct selling retailers are expanding into markets outside the United States and (2) a. increased gas prices and traffic congestion are causing people to want the store to deliver the products to them. b. the pendulum is beginning to swing back to more mothers (and fathers) staying home during the day with children, making direct selling more convenient. c. the purchase or lease of real estate to build an actual "brick" retail store is becoming prohibitive. d. graduating business students are finding it more difficult to find a traditional sales position and like the idea of being their own bosses. e. some consumers prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores.

answer

some consumers prefer one-on-one customer service and a social shopping experience rather than online shopping or big discount stores.

question

An indicator used to compare the increase in sales of stores that have been open for the same period of time is called a. market share of each store. b. same-store sales growth. c. sales per square foot of each store. d. gross sales per store. e. net profit per store.

answer

same-store sales growth.

question

Promotion represents the fourth element in the marketing mix. The promotional element consists of communication tools, including advertising, personal selling, sales promotion, public relations, and __________. a. people b. merchandising c. direct marketing d. social media e. branding

answer

direct marketing

question

Figure 15-7 above shows six channel practices that restrain competition, create monopolies, or otherwise represent unfair methods of competition. "B" represents the __________, which is the law Congress passed to regulate dual distribution and resale restrictions. a. Robinson-Patman Act b. Sherman Act c. Federal Trade Commission Act d. Consumer Goods Pricing Act e. Clayton Act

answer

Sherman Act

question

Two sources of horizontal conflict are common. One is when __________. a. a manufacturer increases its distribution coverage in a geographical area b. disagreements arise over how profit margins are distributed among channel members c. manufacturers believe wholesalers or retailers are not giving their products adequate attention d. a channel member bypasses another member and sells or buys products direct e. dual distribution causes conflict when similar types of retailers carry different brands

answer

a manufacturer increases its distribution coverage in a geographical area

question

In class, we discussed various ways to classify retailers based on their ownership. We noted that Starbucks is a good example of a(n): a. Corporate Chain. b. Independent Retailer. c. Retailer Cooperative. d. Voluntary Chain. e. Non-store retailer.

answer

Corporate Chain.

question

In class we looked at the Sterling Jewelry example. Sterling indicated that their holiday customers can be be very price conscious. Given this view, which of the following is NOT a tactic that Sterling is employed for the holiday season? a. Created new products, including trendy, fashion-forward items at lower price points b. Made some timeless looks more affordable for price sensitive consumers c. Expanded their assortment of LeVian Jewelry, which is a very successful upper-scale line of jewelry. d. Created a new Open Hearts Collection by Jane Seymour, based on her popularity e. Actually, Sterling did all of these for the upcoming holiday season

answer

Actually, Sterling did all of these for the upcoming holiday season

question

Which statement regarding efficient supply chains is MOST ACCURATE? a. Efficient supply chains often operate with relatively low inventory levels. b. Efficient supply chains use common platforms and common components across several products. c. Efficient supply chains rely on maintaining large geographically dispersed inventory warehouses. d. Efficient supply chains traditionally use expensive, but faster, modes of transportation. e. Efficient supply chains emphasize economies of scale by increasing the variety of system configurations offered.

answer

Efficient supply chains often operate with relatively low inventory levels.

question

In a supply chain setting, replenishment time refers to lead time for an item, which means the time between the ordering of an item and when it is a. billed to the customer. b. acknowledged by the customer. c. billed and paid for by the customer. d. promised for delivery. e. received and ready for use or sale.

answer

received and ready for use or sale.

question

Both market share and profit achieve their greatest growth rates during which stage of the retail life cycle? a. decline b. maturity c. introduction d. early growth e. accelerated development

answer

accelerated development

question

Which type of outlet is MOST LIKELY in its maturity stage of the retail life cycle? a. single-price stores b. value-retail centers c. online retailers d. business-district retailers e. convenience stores

answer

convenience stores

question

An inventory-management system whereby the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items is referred to as __________. a. supplier-managed inventory b. supply chain inventory c. logistics-managed inventory d. just-in-time inventory management e. vendor-managed inventory

answer

vendor-managed inventory

question

At the end of a recent year, Solectron, a big Milpitas, California, electronics contractor, made half of its purchases under vendor-managed inventory programs. Solectron a. had its suppliers perform all materials handing activities. b. authorized its suppliers to eliminate as many wholesaling functions as possible from the supply chain. c. used a system in which its suppliers determined the product amount and assortment that should be in stock. d. authorized the use of distribution centers to provide quicker customer response times. e. balanced its total logistics cost by eliminating the convenience service factor.

answer

used a system in which its suppliers determined the product amount and assortment that should be in stock.

Marketing final ch 15, 16, 17, 18 (half) – Flashcards

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