Question-Liberty BUSI 520 Quiz 3 Chapters 12-16

Question 1 2 out of 2 points

Industrial goods can be classified as ________, capital items, or suppliers and

business services based on their relative cost and how they enter the production

process.

Question 2 2 out of 2 points

Realizing that although household products is a huge category, taking up an entire

supermarket aisle or more, it is an incredibly boring one, the founders of Method

Products designed a sleek, uncluttered dish soap container that also carried

functional advantages, such as ease of dispensing soap and cleaning. Method is

competing in the crowded market for household products on the basis of superior

________.

Question 3 2 out of 2 points

A manufacturer of hiking boots looks at data that indicate that their subsegment of

the market called "serious hiker" is declining and is predicted to decline into the

future. The firm decides to enter the "low-price" segment with its new items. This is

an example of a firm's ________ to reach a new market.

Question 4 0 out of 2 points

The ________ of the product mix refers to how closely related the various product

Question 5 2 out of 2 points

________ refers to data, information systems, and advice services that the seller

offers to their buyers.

Question 6 2 out of 2 points

A product line can also be lengthened by adding more items within the present

range. There are several motives for line filling. Which of the following is one of

them?

Question 7 2 out of 2 points

Ideal ________ would exist if users could fix the product themselves with little cost

in money or time.

Question 8 2 out of 2 points

What goods are similar in quality but different enough in price to justify shopping

comparisons?

Question 9 2 out of 2 points

In offering a product line, companies normally develop a ________ and modules

that can be added to meet different customer requirements.

Question 10 2 out of 2 points

________ describes the product's look and feel to the buyer; it has an advantage

of creating distinctiveness that is difficult to copy.

Question 11 0 out of 2 points

Which of the following will most help service providers overcome the limitation of

intangibility of services when positioning itself?

Question 12 2 out of 2 points

________ refers to the normal work of preparing, pricing, distributing, and

promoting the service to customers.

Question 13 0 out of 2 points

The Caesar Park Hotel generally caters to business customers during the week,

but has now decided to promote minivacation weekends for non-business

customers as well. What is the Caesar Park Hotel trying to do?

Question 14 2 out of 2 points

Charles Schwab's best customers are instantly directed to customer service

representatives, while other customers have to wait longer. Charles Schwab is

trying to ________.

Question 15 0 out of 2 points

When sellers agree to provide free maintenance and repair services for a specified

period of time at a specified contract price, they are offering ________.

Question 16 2 out of 2 points

Belling Hotels provides complimentary breakfast buffets to all its guests. This is an

example of a ________.

Question 17 2 out of 2 points

To which of the following categories of services does a cell phone belong?

Question 18 2 out of 2 points

Kaya, a chain of skin clinics, requests each new visitor to fill up their own details on

a printed form. This is a step in ________.

Question 19 2 out of 2 points

Customers today want separate prices for each service element and they also

want the right to select the elements they want. The customers are said to be

pressing for ________.

Question 20 2 out of 2 points

A ________ refers to any place at which a company seeks to manage a

relationship with a customer, whether through people, technology, or some

combination of the two.

Question 21 2 out of 2 points

Pricing cues such as sale signs and prices that end in 9 are more influential

________.

Question 22 0 out of 2 points

A firm that is plagued with overcapacity, intense competition, or changing wants

would do better if it pursues ________ as its major objective.

Question 23 2 out of 2 points

When Coca-Cola carries a different price depending on whether the consumer

purchases it in a fine restaurant, a fast-food restaurant, or a vending machine, then

this form of price discrimination is known as ________.

Question 24 2 out of 2 points

If demand changes considerably, with a small change in price, the demand is said

to be ________.

Question 25 2 out of 2 points

While shopping at the mall, Jane was asked by one of the sales representatives at

the cosmetics counter to try out a new lipstick that her company was test

marketing. The company representative asks her how much she would be willing

to pay for the lipstick. After trying it out, Jane is of the opinion that $5 is just the

right price for it. What type of a reference price is Jane using?

Question 26 2 out of 2 points

Companies that aim to ________ strive to be affordable luxuries.

Question 27 2 out of 2 points

After estimating the demand and costs associated with alternative prices, a

company has chosen to price its product in such a way that it gains the highest

rate of return on its investment. The company is looking to ________.

Question 28 2 out of 2 points

Costs that do not vary with production levels or sales revenue are known as

________.

Question 29 2 out of 2 points

The airline and hospitality industries use ________, by which they offer discounted

but limited early purchases, higher-priced late purchases, and the lowest rates on

unsold inventory just before it expires.

Question 30 2 out of 2 points

________ are granted for turning in old item when buying a new one.

Question 31 2 out of 2 points

Armon Apparels designs, manufactures, and distributes athletic apparel and

accessories for men and women. The company has only nine distributors across

the United States. These distributors control a nationwide network of 600 retailers.

The company does not sell its products through other channels. This is an

example of ________ distribution.

Question 32 2 out of 2 points

RX Corp. is a large manufacturer of electronic goods and sells its products through

distributors and retailers. In order to keep pace with the growing use of the

Internet, the company decides to start selling online. The company faces stiff

opposition from its retailers as they believe that this will significantly reduce their

profits. The company attempts to eliminate this resistance by offering its retailers

commissions for processing and delivering orders received via the Web. This is an

example of which of the following conflict resolution strategies?

Question 33 2 out of 2 points

The most advanced supply-distributor arrangements for ________ vertical

marketing systems rely on distribution programming.

Question 34 2 out of 2 points

An administered VMS coordinates successive stages of production and distribution

through ________.

Question 35 2 out of 2 points

A group of small sellers take the initiative and organize a new business entity to

carry on wholesaling and possibly some production. This initiative is called a(n)

________.

Question 36 0 out of 2 points

A(n) ________ is a facilitator who assists in the distribution process.

Question 37 0 out of 2 points

Which of the following covers payment terms and producer guarantees?

Question 38 2 out of 2 points

Which of the following channels is associated with the lowest cost per transaction?

Question 39 0 out of 2 points

Exclusive dealing arrangements are mainly used by companies looking for an

edge in markets increasingly driven by ________.

Question 40 2 out of 2 points

Which of the following is the most complete and accurate description of a

pure-click company?

Question 41 0 out of 2 points

E&OE is trying to minimize its inventory costs, which are extremely high. The

company has realized that it can achieve this by maintaining a near-zero inventory

and producing more only once a product is ordered. Which of the following is true

for E&OE?

Question 42 0 out of 2 points

A brand developed by a retailer and/or wholesaler that is available only in selected

retail outlets is called a ________ brand.

Question 43 2 out of 2 points

________ encompass sales forecasting, production planning, and inbound

materials transportation.

Question 44 2 out of 2 points

Companies who sell products door-to-door or at home sales parties are engaging

in ________.

Question 45 0 out of 2 points

Which of the following is a postpurchase service offered by retailers?

Question 46 2 out of 2 points

________ includes all the activities in selling goods or services directly to final

consumers for personal,

nonbusiness use.

Question 47 2 out of 2 points

Friday, September 28, 2012 9:54:08 AM EDT

Which of the following is an example of direct marketing?

Question 48 2 out of 2 points

A stock order point of 10 means ordering the product ________.

Question 49 2 out of 2 points

A factory outlet is an example of a(n) ________ retailer.

Question 50 2 out of 2 points

Because shelf space is scarce, many supermarkets now charge a ________ for

accepting a new brand, to cover the cost of listing and stocking it.

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