Which of The Following Sentences BEST

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1. Which of the following sentences BEST describes how non-store alternatives compete directly with retailers? (Points : 1)

a.       Non-store businesses also sell direct to consumers

b.      Wholesalers organize vertical market systems.

c.       Specialty superstores eliminate conflict from channel partners.

Middlemen break bulk and assemble lots

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d.    

2. The two main goals of logistics are (Points : 1)

a.       To choose between a strategy that serves manufacturers/distributers and one that serves consumers B. To accommodate outbound physical distribution and reverse logistics.

b.      To maximize customer service while minimizing distribution cost.

c.       To get products to their end destination without breaking them, and in sufficient quantity.

3. What advantage does use of RFID tags bring to the logistics function of companies that adopt this technology? (Points : 1)

a.       The technology helps vertical market systems integrate their resources.

b.      The devices create flows of information without accompanying transaction records.

c.       The technology enables businesses to outsource shipping, transport, warehousing, and inventory control.

d.      The devices reduce or eliminate manual labor in capturing data related to individual items.

4. A drug store invests in an extended line of nutritional supplements and displays them around a staffed customer-service desk so that a trained nutritionist can help customers make decisions. Which of the following means of competitive differentiation does this example illustrate? (Points : 1)

a.       Increasing use of technology to improve communications.

b.      Emphasizing specialization and face-to-face transactions.

c.       Providing better support after the sale.

d.      Improving merchandise assortment to better reflect market demographics.

5. Which of the following sentences BEST reflects the fundamental concept of “price”? (Points : 1)

a.       A specified price that makes a profit for the seller must be attractive to a buyer.

b.      Adjustments that raise or lower the price to a buyer must be reflected in value to the seller.

c.       Customer has to make a sacrifice in money, time, and/or effort to get what they want to buy

d.      The buying exchange can be valued in rent, price, interest, fee, fares, or dues.

6. Which of the following factors can a manufacturer influence, in order to assure retail demand for their output? (Points : 1)

a.       The number of channel partners involved in the supply chain.

b.      The location of retailers in the market for that output.

c.       The reverse logistics required to optimize post-sale activity.

d.      The use of mass-market advertising to promote their output.

7. Four factors influence strategic planning for pricing decisions. Which list contains all four factors discussed in chapter 5? (Points : 1)

a.       Target market, competition, differentiation, and environment

b.      Environment, target market, costs, and differentiation

c.       Environment, target market, differentiation, and pricing strategy

d.      Costs, environment, target market, and value proposition

8. Retailers decide what items to stock and how much of each product to carry. Which of the following sentences explains the impact of a large merchandise assortment, deeply stocked? (Points : 1)

a.       It increases customer satisfaction, but decreases operating costs.

b.      It decreases operating costs, by increasing sales volume.

c.       It increases customer satisfaction, but raises operating costs.

d.      It increases operating costs, but risks customer satisfaction.

9. Which of the following BEST describes what physical distribution channel strategies (logistics) are concerned with? (Points : 1)

a.       Arranging for the flow of products from where they originate to where they are consumed.

b.      Balancing getting goods to the right place with fewest complaints and/or returns

c.       Distributing offerings in such a way that they attract the most customers to each channel

d.      Keeping the focus on channel partners at the lowest possible cost.

10. Which statement BEST describes the role of personal selling in the age of social media? (Points : 1

a.       Personal selling is only appropriate for selling to organizations that do not use social media.

b.      Personal selling was once an effective means of reaching consumers, but now it is no longer relevant.

c.       Social media creates a channel for interaction between salespeople and consumers of the offerings they sell

d.      Social media facilitates relationships among customers and discourages relationships with sellers.

 

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