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Study Resources (Business Management)

  Essay Questions  350.From a marketing management perspective, what is the meaning of a total product offer? What are the important elements in the total product offer of your college or university? 351.Consumer goods and services are generally classified into four specific categories. What are the four categories, and how do they differ?.
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  51.Rack jobbers sell goods on consignment, splitting the profits from their sales with a retailer. 52.Although drop shippers own merchandise they have shipped to buyers, they do not actually handle, stock, or deliver this merchandise themselves. 53.Drop shippers are wholesalers that stock heavy or bulky items and transport them to retail stores. 54.Drop.
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  261.Sports Coasters sells good quality athletic wear by sending its customers a catalog nine times a year. The company has no retail stores, but offers a toll free order number that operates 24 hours a day, 365 days a year. Sports Coasters sells using a technique known as: A. tel-tailing.B. indirect marketing.C. telemarketing.D. multilevel marketing. 262.Which.
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  331.The strategy of first determining what the market is willing to pay, then subtracting a desired profit margin to determine a desired cost of production is called: A. cost-based pricing.B. target costing.C. penetration pricing.D. skimming pricing. 332.The formula for break-even analysis includes which of the following components? A. depreciationB. forecasted salesC. forecasted cash requirementsD. variable cost per unit of output 333.The rent.
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  231.Discount stores owe much of their success to a competitive strategy based on: A. low prices.B. extra service.C. special credit arrangements.D. a wide selection in a limited number of categories of goods. 232.Retailers such as jewelry stores, shoe stores, and bicycle shops are: A. department stores.B. discount stores.C. warehouse clubs.D. specialty stores. 233.A __________ offers a huge selection of one type of.
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  311.Identify and describe the four basic types of distribution systems that are used to link firms in a formal relationship. 312.What is logistics? Describe the types of issues you might deal with if you specialized in logistics. Multiple Choice Questions  Mini-Case"We've got a number of important issues to discuss today," began Dee Stribyute.
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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. agentB. retailerC. drop shipperD. 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.
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  61.Wholesalers may provide market information and business consulting services. 62.Larry and Dale Ingram solicit orders for lumber from area wholesalers and retailers specializing in building supplies and arrange to have the orders shipped directly from nearby logging companies. Larry and Dale operate as drop shippers. 63.Henry Hart supplies shelves of inexpensive plastic.
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  51.When advertising in global markets it is important to remember that brand names and promotional campaigns can often be translated differently from what the marketer attempts to say. 52.Green Space is an organization concerned about preserving forests and wilderness areas. They hope to raise the public's awareness regarding this issue. Green.
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  301.Currently, which of the following products would most likely be considered in the growth stage of the product life cycle? A. VCRsB. Welch's grape jellyC. HDTV (High-Definition TV)D. Camel filtered cigarettes 302.Sales of cell phones in the United States are still increasing, but the rate of growth has slowed. Sales are expected to peak somewhat soon.
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  221.Paper 'N More sells a variety of office supplies to small businesses and local offices. The fact that it sells only to other firms and not consumers indicates that Paper 'N More engages only in: A. wholesale sales.B. mass marketing.C. pure retailing.D. second-tier retailing. 222.Which of the following activities would a drop shipper be most likely.
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  141.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 work stations along the production process. 142.Inbound logistics is concerned with the flow of finished products from the manufacturer to the final consumer. 143.Inverted logistics is the.
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  121.Franchise systems, wholesaler-sponsored chains, and retail cooperatives are all forms of contractual distribution systems. 122.One advantage of a franchise system of distribution is that it results in a consistent level of quality and service. 123.In retail cooperatives, the members of the distribution system are bound to cooperate by a contractual agreement. 124.Wholesaler-sponsored chains.
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  71.Discount stores compete in the retail market mainly on the basis of price. 72.A category killer is an extremely successful product that kills the sales of other products in its category in a retail store. 73.Specialty stores use a wide variety of products in one product category as their key competitive tool. 74.Category.
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  Essay Questions  307.Explain why you agree or disagree with the following statement:Answer: "Marketing intermediaries must charge a high enough price for the functions they perform to earn a profit. Therefore, the cost of distributing goods can almost always be reduced by eliminating marketing intermediaries from the channel of distribution." 308.What is utility?.
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  309.What is a wholesaler? Describe the difference between merchant wholesalers and agents and brokers. Identify three types of limited-function wholesalers. 310.Retail distribution strategies can take three different forms. Identify the three forms and give examples of products that would be marketed using each strategy.     .
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  321.328. (p. 392) A competition-based pricing strategy in which all the competitors in an industry follow the pricing practices of one or more dominant firms is known as: A. market fixing.B. price penetration.C. price leadership.D. primary pricing. 322.Which of the following strategies establishes a price based on the actions of rival firms? A. competition-based pricingB. cost-based pricingC. demand collection systemD. bundling 323.The strategy of charging.
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  291.The two basic types of warehouses are: A. public and private.B. railside and portside.C. storage and distribution.D. seasonal and long-term. 292.__________ warehouses are used to gather and redistribute products. A. StorageB. DistributionC. WholesaleD. Merchandising 293.__________ warehouses are used to hold products for a relatively long time. A. StorageB. PublicC. SeasonalD. Distribution 294.Logistics is concerned: A. with flows of materials, finished products, and information.B. only with the flow of information, not the.
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  291.As a product progresses through each stage of the product life cycle, successful marketers recognize that each stage requires: A. a different marketing strategy.B. a consistent application of fundamental marketing practices.C. an increase in the amount spent on advertising.D. more emphasis on personal selling. 292.When reviewing the product life cycle model, it is important to remember.
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  352.Discuss the role of packaging in a firm's total product offer. 353.What is a brand? What is a brand name? What is meant by brand equity? Multiple Choice Questions  Mini-CaseGourmet Pets is an innovative competitor in the billion-dollar pet food industry. In fact, two of its products, Kitty Sirloin and McDog T-bone, each.
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  171.Freight forwarders are particularly useful to large firms who must ship very large quantities on short notice. 172.The use of pipelines should decline in the future because this mode is suitable only for shipping petroleum. 173.Small-timers, Incorporated is a small manufacturer of charm bracelets that include watches as well as keepsake items.
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  271.A common trait of corporate distribution systems, administered distribution systems, contractual distribution systems and supply chains is that they all: A. are arrangements which seek to distribute goods more efficiently by eliminating most functions performed by marketing intermediaries.B. seek to consolidate and control the distribution system by having one firm own all of.
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  151.A value of shipping by truck is that trucks can deliver small shipments to remote locations. 152.When truck trailers are placed on rail cars to travel long distances, the process is known as leapfrogging. 153.Pipelines are used primarily to transport water, petroleum, and petroleum products. 154.Pipelines move liquid products very efficiently and can.
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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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  91.Electronic retailing is selling goods and services over the Internet to the final consumer. 92.Because of delivery issues and problems with communication, Internet sales declined to $150 billion in 2008 and are expected to keep falling. 93.Some Web sites are trying to improve their service by providing assistance from a real person. 94.A.
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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. commissionairesB. front-menC. merchant wholesalersD. 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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  281.As a brand manager, Ellen has proposed an aggressive advertising campaign that exaggerates the benefits of their newest product. While Ellen is convinced that this strategy will encourage consumers to try the product, her assistant strongly opposes the idea. Which of the following presents the best explanation for the assistant's.
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  341.Derek’s company was bidding on the construction of a new penguin display at a world-famous zoo.  When putting together his bid, Derek began by determining what the zoo would be willing to pay for the structure, and then subtracting a reasonable profit for the company.  The result would be the.
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  301.Marketing manager Connie Smythe is concerned that her firm is doing a poor job of managing the movement of finished products to the final consumer. If Connie is right, her firm should work to improve its: A. outbound logistics.B. administered support system.C. materials handling.D. coordination of its freight forwarders. 302.Jen Carter is trying to find ways.
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  111.Fancy Feet sells high quality socks and stockings by sending catalogs to customers and offering them a toll-free telephone number so that they can call in their orders 24 hours a day any day of the year. Fancy Feet uses telemarketing. 112.Direct selling has all but disappeared as a major form.
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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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True / False Questions  1.As a component of the promotion mix, advertising includes each of the activities marketers use to inform people about products and persuade them to participate in an exchange. 2.A firm's promotion mix refers to the combination of different promotional tools used to persuade consumers to participate in an.
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  101.Because so many people work outside the home and aren't at home during the day, companies that use direct selling are sponsoring parties at workplaces to sell their products. 102.In multilevel marketing, salespeople not only sell the product, they also recruit other people to sell the product. 103.In multilevel marketing "upliners" recruit.
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  281.__________ brings raw materials, packaging, other goods and services, and information from suppliers to producers. A. Freight forwardingB. Inbound logisticsC. Materials handlingD. Supply side logistics 282.__________ deals with moving finished products and information to business buyers and ultimate consumers. A. Inbound logisticsB. Outbound logisticsC. Final stage logisticsD. Wholesale distribution 283.When firms manage the return of goods from consumers either because they are.
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  31.Direct mail, broadcast and cable television, and newspapers are the top three advertising media when ranked by total expenditures. 32.The number one advertising medium in terms of total dollar expenditures is newspapers. 33.Because TV advertising is so expensive, it is less popular than in the past, it now ranks sixth in total.
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  131.Supply chain management not only deals with the movement of materials, parts, and finished goods, it also manages the return of goods and recycling of materials when appropriate. 132.Imaginex Toys, Inc. produces toys designed to stimulate the imaginations of young children. In order to control all of the marketing operations, Imaginex.
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  21.When a manufacturer advertises to wholesalers and retailers in an attempt to encourage them to carry its products, it is engaging in institutional advertising. 22.The purpose of institutional advertising is to create an attractive image for an organization. 23.Advertising provides the public with free TV and radio programs. 24.Newspapers, radio, and the Yellow.
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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 Wal-Mart may soon be required to use RFID tags when.
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  61.It is important to design promotional efforts specifically for individual countries since sometimes the brand is not appealing in the targeted country. For example, a Japanese company tried to use English words to name a popular drink and called it Pocari Sweat. 62.Personal selling involves the face-to-face presentation and promotion of.
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  31.One way that marketers can provide utility is by making sure the good is available at a location that is convenient for consumers. 32.Salespeople can be important providers of information utility. 33.Form utility has become the most important utility provided by retailers. 34.A key way for traditional retailers to compete with direct marketing.
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  41.Some marketing intermediaries make both wholesale and retail sales. 42.A retail sale is a sale to a consumer of products for his or her own use. 43.The sale of goods to a business purchasing the items for resale is a wholesale transaction. 44.A firm that makes wholesale sales cannot also legally make retail.
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  201.Marketing intermediaries add ________ utility to products by having them available when consumers want them. A. timeB. allocativeC. responseD. form 202._________ utility adds value to goods by having them available where people want them. A. SpatialB. Location specificC. PlaceD. 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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  11.The development of a unified promotional strategy that uses each element of the promotion mix to create a favorable brand image is the goal of a primary promotional process. 12.Phil's activities as a salesperson for Marquette Publishing are part of Marquette's promotion mix. 13.A firm's promotion mix consists of its pricing and.
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  21.Most marketing intermediaries have survived in the past because consumers were unaware of how much these companies add to the cost of distributing goods. 22.An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer. 23.Marketing intermediaries must charge a price for the functions.
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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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  311.Costs incurred regardless of the number of units of a product that are produced or sold are called: A. mixed costs.B. controllable costs.C. fixed costs.D. variable costs. 312._______ costs are those costs that increase as the level of production increases. A. FixedB. MixedC. VariableD. Uncontrollable 313.The number of units of a product that must be sold for total revenue to equal total.
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  81.An advantage of a selective distribution strategy is that consumers are able to find a popular product at a wide variety of retailers. 82.Retailers that participate in an exclusive distribution strategy will have a strong incentive to carry a large inventory of the good and provide exceptional service to customers. 83.In order.
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  241.Sportstors, Inc. operates a chain of very large stores that offer an incredible selection of sporting goods at very competitive prices. When Sportstors opens its first store in a geographic area, smaller sporting goods stores almost always experience a noticeable drop in sales. Sportstors stores can be classified as: A. warehouse clubs.B. department.
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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. possessionB. formC. secondaryD. alterational 212.____________ wholesalers are independently owned and take title to the goods they handle. A. Full service brokerB. MerchantC. AgentD. Primary 213.The two basic types of merchant wholesalers are: A. full-service wholesalers.
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