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Study Resources (Business Management)

  True / False Questions 1.Organizations that assist in moving goods and services from producers to business and consumer users are called supply-side transition specialists.  2.Agents and brokers and wholesalers are types of marketing intermediaries.  3.Wholesalers are marketing intermediaries who sell goods or services to ultimate consumers.  4.A channel of distribution consists of the marketing.
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  131.Supply chain management manages the movement of relevant information as well as the movement of parts and finished goods through all organizations involved in the supply chain.  132.Supply chain management not only deals with the movement of materials, parts, and finished goods, it also manages the return of goods and recycling.
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  21.According to the Seeking Sustainability box, IKEA found that even though paper pallets can only be used once, they can help reduce shipping costs and are easier to recycle.  22.Jessica Talmadge is a real estate agent who brings together the buyers and sellers of houses and commercial property. Jessica helps the.
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  141.With the current emphasis on product development, pricing, branding, and promotion, the physical distribution of materials and goods is no longer a major concern of marketing.  142.Materials handling is that part of logistics that deals with moving goods within the warehouse, from the warehouse to the production floor, and to various.
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  211.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.  A. possession B. form C. secondary D. alterational 212.____________ wholesalers are independently owned and take title to the goods they handle.  A. Full service broker B. Merchant C. Agent D. Primary 213.The two basic types of merchant wholesalers are:  A. full-service wholesalers.
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  151.Water transportation has benefits and drawbacks; for example, it is inexpensive but slow.  152.A value of shipping by truck is that trucks can deliver small shipments to remote locations.  153.Pipelines are used primarily to transport water, petroleum, and petroleum products.  154.Pipelines move liquid products very efficiently and can even move products like coal.  155.Railroads.
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  201.Marketing intermediaries add ________ utility to products by having them available when consumers want them.  A. time B. allocative C. response D. form 202._________ utility adds value to goods by having them available where people want them.  A. Spatial B. Location specific C. Place D. Geographic 203.Retailers who have stores at convenient locations are trying to add value by:  A. using a horizontal distribution strategy. B. using a broad resource allocation strategy. C. providing.
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  331.Which of the following is a potential problem with a high-low pricing strategy?  A. It confuses and frustrates customers. B. It places too much emphasis on nonprice competition. C. It teaches customers to wait for sales, and therefore reduces profits. D. It is difficult to implement. 332.Shopping online allows customers to compare prices of many goods and services. This.
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  121.Corporate distribution systems consist of several independently owned intermediaries, all of them organized as multinational corporations.  122.A problem with the corporate distribution system is that the manufacturer has very little control over the operations of the retailers and other marketing intermediaries in the system.  123.Franchise systems, wholesaler-sponsored chains, and retail cooperatives are.
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  231.A __________ offers a huge selection of one type of product (such as books, toys, or sporting goods) to dominate that category of goods.  A. department store B. category killer store C. saturation retailer D. cash-and-carry retailer 232.A firm that wants to distribute its products as widely in a market as possible would use a(n) ___________ distribution strategy.  A. extensive B. shotgun C. universal D. intensive 233.A(n) ___________.
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  251.Brand __________ refers to the linking of a brand to other favorable images, such as a celebrity.  A. association B. loyalty C. awareness D. insistence 252.A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.  A. channel specialist B. brand manager C. product engineer D. brand specialist 253.One reason many large consumer-product companies make use of __________ is to.
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  31.Delivery, installation, and follow-up services are the most common ways that marketing intermediaries provide information utility.  32.One way that marketers can provide utility is by making sure the good is available at a location that is convenient for consumers.  33.Salespeople can be important providers of information utility.  34.Form utility has become the most.
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  11.Some economists would say that intermediaries add costs to the channel of distribution and need to be eliminated.  12.Marketers claim that intermediaries add value to the channel of distribution that outweighs the cost.  13.Marketing costs make up less than 25 percent of the total cost of the goods consumers buy.  14.The activities performed.
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  321.Which of the following strategies establishes a price based on the actions of rival firms?  A. competition-based pricing B. cost-based pricing C. demand collection system D. bundling 322.The strategy of charging prices based on consumer demand rather than cost or a predetermined profit margin represents:  A. competition-based pricing. B. cost-based pricing. C. target orientation. D. demand-oriented pricing. 323.Firms utilize ________ when they attempt to add value to their.
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  191.The combination of product lines offered by a manufacturer is called the firm's:  A. product matrix. B. product mix. C. total product offer. D. product portfolio. 192.The best product development strategy for most firms is to:  A. develop a small number of products that achieve market success and stick with them, because constantly changing old products (or introducing new ones) can.
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  231.Attracting attention, describing contents, explaining benefits and identifying the uses of a product are all functions of:  A. target marketing. B. UPCs. C. packaging. D. market segmentation. 232.Textbook publishers use a packaging strategy known as ____________. Often the publisher will combine highly complementary products such as a new textbook and access code for online software that students can use.
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  221.Suits for Success is a men's clothing store in a large suburban shopping mall. The managers of the store know that their customers usually comparison shop, looking carefully at quality and price before deciding to buy. Armed with this information, Suits for Success carries quality clothing, offers competitive pricing, and.
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  161.Variable costs are costs that change with the level of production.  162.A skimming price strategy involves a low pricing policy intended to attract price-sensitive customers from competitors.  163.A penetration strategy calls for a firm to charge low prices with the intent of attracting a large number of customers and discouraging competition.  164.Firms utilizing.
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  101.One drawback of kiosks is that their high overhead costs result in low profit margins.  102.Direct selling is a distribution strategy that makes extensive use of the Internet and telephone.  103.Because so many people work outside the home and aren't at home during the day, companies that use direct selling are sponsoring.
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  351.Prime Cuts was the brainchild of Karen Terrier who guided all the marketing efforts of the product. She selected each element of the marketing mix such as the package, brand name, pricing, promotion, and placement decisions. Karen obviously serves in the job of:  A. marketing consultant. B. brand manager. C. operations analyst. D. marketing intermediary. 352.Gourmet Pets is interested.
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  111.In the battle between electronic retailers and traditional "bricks and mortar" retailers, the electronic retailers seem to have all of the advantages needed to emerge as the clear winners.  112.Many firms that want to use an intensive distribution strategy would find vending machines an attractive method of selling their goods.  113.Direct selling.
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  61.A full-service wholesaler will provide suppliers with market information they can't afford or can't obtain themselves.  62.Wholesalers may provide market information and business consulting services.  63.A broker can expect to earn a fixed amount of profit for her efforts regardless of the dollar value of the contract she negotiated.  64.Larry and Dale Ingram.
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  281.Kathy works as a manager at Fantastic Fabricators. The innovative staff at the company is regularly encouraged to suggest ideas for new products. Since Kathy works in product screening, she:  A. gives the final approval for the commercialization of new products. B. reduces the number of new products being worked on at any one.
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  261.The Reaching Beyond Our Borders box titled "Playing the Name Game" explains:  A. the importance of reality TV, and the various TV programs that have become international phenomena. B. the procedure a business goes through to register its domain name. C. how the positive appeal of a name can go a long way. D. how it is important.
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  51.Rack jobbers furnish racks or shelves full of merchandise to retailers and keep title to these goods until they are sold.  52.Rack jobbers sell goods on consignment, splitting the profits from their sales with a retailer.  53.Although drop shippers own merchandise they have shipped to buyers, they do not actually handle, stock,.
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  291.When reviewing the product life cycle model, it is important to remember that:  A. although all products go through each stage of the life cycle, the time frame can vary considerably from one product to another. B. it is a theoretical model that may not be followed by all products. C. the maturity stage accounts for.
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  311._______ costs are those costs that increase as the level of production increases.  A. Fixed B. Mixed C. Variable D. Uncontrollable 312.The number of units of a product that must be sold for total revenue to equal total costs is called the:  A. equilibrium volume. B. balanced quantity. C. contribution margin. D. break-even point. 313.At the break-even point:  A. profits are maximized. B. variable costs are equal to total fixed costs. C. target profit.
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  211.Computers, copiers, and fax machines used by businesses would be classified as:  A. installations. B. shopping goods. C. specialty goods. D. accessory equipment. 212.Successful product differentiation:  A. of consumer goods is determined exclusively by price. B. can be based on either real or perceived differences in products. C. is prohibited if it restricts price competition and market access. D. is less important due to the growth of.
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  191.Suppose that eight bakeries each tried to sell their products directly to seven supermarkets. The total number of exchange relationships that would be established is:  A. 14. B. 25. C. 56. D. 72. 192.Mark A. Teer believes he has found a surefire way to save money. He advises his friends, "Buy direct from the manufacturer. Any time intermediaries get.
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  301.Sales of mobile phones in the United States are still increasing, but the rate of growth has slowed. Sales are expected to peak somewhat soon in the U.S. Based on this information, mobile phones are in what stage of the product life cycle in the U.S.?  A. introduction B. growth C. maturity D. decline 302.Sales levels of Armstrong mountain.
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  71.Warehouse clubs compete with enhanced service to customers and seldom try to compete on price.  72.Discount stores compete in the retail market mainly on the basis of price.  73.A category killer is an extremely successful product that kills the sales of other products in its category in a retail store.  74.Specialty stores use.
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  171.For most firms, price competition is the most important way to gain a competitive advantage over rivals.  172.Small firms often rely on nonprice competition when competing against larger firms.  173.One way firms can gain a competitive advantage without relying on low prices is by developing close, friendly relationships with their customers.  174.The pricing.
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  171.Clay Gates is a distribution specialist who has been looking at ways to improve the flow of parts and materials from his company's warehouses to the production line, and the movement of work in process throughout the company's factories. These efforts suggest that Clay's primary interest is in improving his.
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  181.A(n) _________ is one type of marketing intermediary that brings together buyers and sellers and assists in negotiating an exchange, but does not take title to the goods.  A. agent B. retailer C. drop shipper D. merchant wholesaler 182.Marketing intermediaries:  A. are unlikely to survive in a competitive global economy. B. have survived because they can often perform marketing functions faster and at.
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  241.Northern Lights Electronics just completed plans to distribute its new tablet. The product has several unique features that differentiate it from competitor products. The marketing team plans to begin a roll-out with ____________ to only one traditional retailer for the first two months. This strategy will give consumers the perception.
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  81.Producers of shopping goods such as furniture, appliances, and clothing usually rely on an exclusive distribution strategy.  82.An advantage of a selective distribution strategy is that consumers are able to find a popular product at a wide variety of retailers.  83.Retailers that participate in an exclusive distribution strategy will have a strong.
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  261.Which of the following is an example of a consumer making a purchase through a direct marketing arrangement?  A. Purchasing a box of cereal at a local grocery store with a coupon on the box B. Purchasing software at a big-box retailer's special tech department C. Purchasing a set of towels featured in a department store's.
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  201.The Coca-Cola Company produces Diet Coke, Diet Coke with Splenda, and Coke Zero along with a number of other flavors. These products are part of Coke's:  A. product line. B. product mix. C. product position. D. product collection. 202.Donavan spent the day talking with a packaging company in Guam, a lighting specialist in Japan, a touchpad expert in the.
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  271.In administered distribution systems, retailers:  A. are reluctant to cooperate because they must perform many marketing functions for an uncertain payment. B. receive a great deal of marketing help from producers. C. are really subsidiaries of a manufacturer. D. sign a contract agreeing to cooperate with wholesalers in the channel of distribution. 272.Which of the following statements about wholesaler-sponsored.
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  341.In the fall semester, Alex noticed that the plastic cola bottles in the vending machines at his university had changed shape. Upon further investigation, he realized that each bottle contained 2 ounces less beverage than previous bottles, even though he paid the same price as last semester. The pricing objective.
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  241.When a brand becomes commonplace and identified with a category of goods rather than the unique product of a specific manufacturer, the brand may become a:  A. generic name. B. trademark. C. universal product code. D. product liability issue. 242.Nonbranded products that sell below the price of national brands, have very basic packaging, and are backed with little or.
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  251.In multilevel marketing, independent contractors who sell a product can increase their own incomes by recruiting _________ to also sell the product.  A. commissionaires B. front-men C. merchant wholesalers D. downliners 252.In the terminology of multilevel marketing, downliners:  A. are the intermediaries who are responsible for handling the shipping of goods down the channel of distribution from the producer to the.
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  181.Webster Industries is one of the first producers of a unique consumer product. The company has chosen a low-price strategy, hoping this will enable them to quickly attract many customers while discouraging potential competitors from entering the market. Webster's approach to pricing is a classic example of the skimming strategy.  182.Admiral.
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  221.Which of the following activities would a drop shipper be most likely to perform?  A. Provide delivery services from a wholesaler's warehouse to a retailer's store B. Solicit orders from a retailer and arrange for the producer to make the deliveries C. Manage a large stock of items in a single product category, and make large.
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  271.As a manager at Excitement Foods, Mark is responsible for the firm's Kool'nKreamy brand of ice cream. Recently, he approved a proposal to test market new ice cream flavors. He is also considering the possibility of lowering the price of the ice cream and initiating a new advertising campaign. Mark.
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  161.Some freight forwarders offer warehousing and customs assistance.  162.There are three major types of warehouses: centralized, dispersed, and mode-specific.  163.A distribution warehouse stores products for relatively long periods of time.  164.Seasonal goods are kept in storage warehouses.  165.Suppliers to large retailers like Target and Walmart may soon be required to use RFID tags when.
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