Mkt 301 benton manages a building supply company. he wants to invite

Question

1. Benton manages a building supply company. He wants to invite 20 of his most valuable customers, who are building contractors, to a golf outing and party. Benton will most likelyuse the firm’s _______ to identify these customers.

A. annual sales report

B. Internet

C. CRM database

D. specialty-store sales

2. Every marketing decision is affected by and has an effect on

A. the supply chain.

B. universal product code verification systems.

C. electronic data intensity.

D. intranet efficiency.

3. The Internet has compelled all retailers to expect more price-sensitive customers, but because customers can purchase electronics at highly discounted prices, those stores that sell the same electronic prices must adjust their prices and

A. take the Internet retailers to court if they feel they’re being harmed.

B. try to block access to the sites that are deeply discounting the prices.

C. add services and advice to change the customer’s focus away from price competition.

D. seek lower prices from the manufacturers to at least equal the prices paid for the merchandise by the Internet retailers.

4. Manufacturers use wholesalers and retailers because

A. the manufacturers have no other choice, due to the legal environment.

B. the wholesalers control the retailers.

C. wholesalers and retailers create value through convenience and lower prices.

D. wholesalers and retailers are traditionally accepted by frequent, loyal shoppers.

5. Because of the way _______ buy merchandise, customers can neverbe confident that the same merchandise will be in stock each time they visit the store.

A. discount stores

B. department stores

C. downstream value stores

D. off-price retailers

6. For marketers to advertise a price as their _______ price, the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price.

A. regular

B. fixed

C. zone

D. leader

7. Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $15. His fixed costs are $100,000, and his profit last year was $20,000. For Jacob, the contribution per unit is

A. $20,000.

B. $100.

C. $1000.

D. $85.

8. The fact that millions of consumers are using online search engines for comparison shopping has

A. increased consumers’ price sensitivity.

B. reduced overall demand.

C. increased the number of oligopoly markets.

D. reduced the contribution per unit cross-pricing elasticity.

9. The mostsignificant potential benefit of the Internet channel is its

A. capacity for providing location options for maintaining inventory.

B. capacity for a touch-and-feel customer experience.

C. ability to personalize information for each customer on a cost=effective basis.

D. potential to provide customers with instant gratification.

10. As a type of retailer, category specialists are fierce competitors using

A. a complete assortment in a specific category at low prices.

B. highly trained personnel throughout the stores.

C. highly attractive loyalty programs.

D. a wide variety of merchandise.

11. Knowing how customers arrive at their _______ is critical to developing successful pricing strategies.

A. perceptions of value

B. social network

C. cultural attitudes about shopping

D. amounts of disposable income

12. The break-even point is estimated by

A. dividing fixed contribution per unit by variable costs.

B. multiplying fixed costs by contribution per unit.

C. dividing fixed costs by contribution per unit.

D. multiplying revenue per unit times the quantity sold.

13. If a manufacturer was unhappy with either intensive or exclusive distribution, a logical choice, which incorporates some features from both, would be _______ distribution.

A. moderate

B. case by case

C. compromise

D. selective

14. _______ have several advantages over manufacturers in selling directly to customers: they’re generally more efficient in dealing with customers, they can offer choices, and they can offer consumers one-stop shopping for complex or complicated purchases.

A. Catalog channels

B. Online firms

C. Wholesalers

D. Retailers

15. Some companies want to get their products into as many outlets as possible. These companies understand that the more exposure they get, the more of their products they’ll sell. If this idea is consistent with the company’s overall strategy, it will mostlikely choose _______ distribution.

A. intensive

B. exclusive

C. selective

D. collectively exhaustive

16. Labor, materials, and energy are typically _______ costs.

A. variable

B. fixed

C. inelastic

D. incidental

17. General Mills (a manufacturer of a variety of food products) might engage Target, Costco, Wal-Mart, and Kroger in a

A. CPFR.

B. CPR.

C. JIT.

D. QR.

18. Traditional demand-curve economic theory is used by marketers to understand _______ in the five Cs of pricing.

A. channel members

B. competitors

C. customers

D. cost

19. _______ communities are networks of social shoppers who see an enhanced emotional connection with other participants during an Internet shopping experience.

A. Self-actualizing

B. Virtual

C. Electronic loyalty program

D. Gen-Y

20. Today, many retailers use targeted promotions, direct salesperson contact, customized services, and consumer information to provide added services to

A. manufacturers whose products are in their stores.

B. friends and families of employees.

C. their best customers.

D. strategic partners in the supply chain.

21. Retailers with strong brand names of their own might operate outlet stores to

A. sell excess inventory that might have to be sold at markdown prices in regular stores.

B. compete with category specialist stores.

C. keep manufacturers from selling similar items in their own factory stores.

D. extend the useful life of mature products.

22. When a customer purchases a DVD at a Best Buy Electronics store, three of the following information flows are started. Which one is notstarted?

A. The sales associate scans the UPC recording the sale.

B. The purchase is added to the customer’s personal and confidential purchasing habit records.

C. Best Buy’s buyer aggregates sales at all stores and uses the information to send a reorder to the manufacturer.

D. The sale is transmitted to Best Buy’s distribution center to adjust inventory data.

23. B2B quantity discounts are legal if

A. new customers can buy up to reach the minimum quantity.

B. they don’t exceed 25% of the regular price.

C. they’re not short term.

D. the discounts are available to all customers.

24. Electronic access to manufacturer’s inventory helped transform the effectiveness of manufacturer’s representatives and outside sales forces. Using new communications tools, they could now avoid the supply chain problem of

A. not being able to coordinate selling efforts with manufacturers’ promotional campaigns.

B. promising delivery of products that weren’t available.

C. increasing prices without increasing transportation charges.

D. insufficient raw materials to produce the needed merchandise.

End of exam

25. Although conflict is likely to occur in any supply chain, it’s generally more pronounced when

A. the supply chain members are geographically too close to each other.

B. retailers pressure manufacturers.

C. the supply chain members are independent entities.

D. manufacturers pressure retailers.