Reference no: EM13860069

Question 1. Most shippers have track and trace systems to track their product loads in the supply chain. Having the capacity to track products helps shippers anticipate events that could disrupt the supply chain. Which of the following could disrupt the supply chain?

customers changing their minds

hurricane over the Atlantic Ocean

shipping mistakes as a result of improper information inputted into the system

employees taking sick days

Question 2. The definition of demand planning is _______.

process for estimating how much product customers will buy.

process of determining how demanding customers will be when they receive their order.

process of anticipating demand prior to production.

process of demanding channel members to provide value added if they want to be included in the supply chain.

Question 3. Which of the following best describe the concepts that influence the price of a product or service?

demand, competition, cost, and government

cost, communication, convenience, and competition

design, delivery, development, and demand

design, development, materials, and taxation
Save

Question 4. Walmart is a multi-billion dollar retail company that is a buyer from several consumer goods manufacturers. Many of their suppliers have moved to Bentonville, Arkansas, the Walmart headquarters. Why do you think suppliers have moved so close to Walmart headquarters?

to be around many of the suppliers to Walmart who tend to cluster in the same geographic area for convenience

to be able to walk over purchase orders and not waste time with the mail service or an untrustworthy electronic ordering system.

to ensure they can get to headquarters quicker than competitors

to be able to meet with the president of the company as often as possible

Question 5. A local dermatologist has developed a new line of body scrub products for sensitive skin. She is unsure if she should sell her products through dermatologists' offices or through retail chains such as Sephora. Which explanation best describes why the marketing channel decision is as important as pricing and product features?

because one channel may want a greater percentage of the sale than the other channel

because place communicates to the customer something about the product's value proposition, which includes the benefits and price

because it might be easier for her to make a distribution deal with Sephora, a national chain, as opposed to calling on individual doctor officers that may take too much time and money.

because the skin scrub is like so many other products in that product category that selling through dermatologists offices would give it the aura of being an exclusive product.

Question 6. Peeps has been manufacturing candy since 1923. Recently they opened a retail store in the Mall of America and two additional locations. Since Peeps is intensively distributed in most other retail stores carrying candy, especially around Easter time, why would Peeps decide to add a new retail store channel?

because Peeps can't always count on the other stores to carry their product.

because the Peeps president wants to experiment with a direct channel of distribution

because Peeps wants to eliminate those other intensive channels of distribution and reposition themselves as an exclusive product

because Peeps believes the retail stores will enhance their brand name recognition and sell more Peeps everywhere the candy is sold as a result

Question 7. Breakeven point refers to ______.

the point at which revenue equals units sold.

the point at which the firm can finally make a profit.

the point at which consumers have had enough of a product.

the point at which total costs equal total revenue.

Question 8. The most efficient and effective manner in which to place a product into the hands of the customer is one way to define ________.

intermediaries.

logistics.

value chain.

members.

Question 9. The shortest marketing channel consists of two parties, the producer and the consumer. This statement best describes which of the following concepts?

mono-channel marketing

indirect channel

direct channel

traditional channel

Question 10. Which of the following intermediaries buys large quantities of a product and breaks it down into smaller units more convenient for the customer to buy at retail?

agent/broker

distributors

wholesalers

manufacturer

Question 11. _____ involves trying to sell a product in as many outlets as possible.

Exclusive distribution

Wholesale distribution

Selective distribution

Intensive distribution

Question 12. ______ involves selling products through one or very few outlets.

Intensive distribution

Selective distribution

Exclusive distribution

Wholesale distribution

Question 13. Which of the following is NOT a pricing objectives?

maximizing sales

maximizing profits

minimizing costs

earning a targeted return on investment

Question 14. Demand for a product is said to be inelastic when ______.

the price goes up, consumers look for bargains.

an increase in price will cause demand to go up or stay the same.

the price goes up the demand goes down.

the price goes down, the product will end up in an outlet store

Question 15. Which unethical practice refers to competitors getting together and agreeing to charge the same price?

bait and switch

price fixing

predatory pricing

skimming